The Indianapolis journal., 1898-12-02
ADVANCES IN STOCKS
LONDON TURNED BUYER, WITH
FRESH DEMAND FOR SECURITIES.
Long List of Gains in the Share List
from IndidvfduaI Causes-LO-
cal Trade Outlook.
At New YORK yegterday money on can was

At New York yesterday money on call was
stead1er at 214G21A per cent; last loan. 21a.
Prime mercantile paper, 3A04A per cent
Sterling exchange was firm, with actual
business in bankers bills at $4.S41aG4.S4% for
demand and at $4S1L04S11A for sixty days;
posted rates $4.S21z and $4S51z. Commercial
bills. 34S012G4S1.
Silver certificates, 6O1zG61kc; bar silver.
$3.50; Mexican dollars, 469sc. At London
bar silver was quiet at 277sd an ounce.
Total sales of stocks were 462, 900 shares,
including: Atchison preferred, 24,S2O; Cen
trail Pacific, 1890; c. & o., 7,440; c., B. &
O., 1870; L. & N, q, 100; Manhattan, 1885;
Metropolitan Street-railway $3.50; Reading
first preferred, $3.50; Missouri Pacific, 5000;
North American Company, 615; Northern
Pacific $3.50; Rock Island, 5,522; Union Pa
cifc, 1880; Union Pacific preferred, 1888;
ST. Paul, 11,38S; Southern Pacific, 4,SS;
Southern Railway, 500; Southern Railway
preferred, 1880; Union Pacific, Denver &
Gulf 1900; Wheeling & Lake Erie, 1910;
Wheeling e. Lake Erie preferred, $500;
American Cotton Oil, $500; Tobacco, 1920;
Peoples Gas, 1854; Consumers Gas, 6,1S0;
General Electric, 3121; Lead, 1856; Linseed
Oil, 9,720; Sugar, S2,420; Leather preferred,
$3.50; Rubber IA ,314; Rubber preferred, 3,840.
again largely influenced by the state of the
foreign money markets. Discount rates at
foreign centers underwent still further in
crease, and the accommodation of these de-
mands by American capital was evidenced
by an advance of Ac in the actual rates for
sterling exchange at New York. The re-
sumption of the process of loaning abroad
promptly put a stop to the demand for gold
In London for export to the United States,
engagements already made being Cancelled.
The subsistence of apprehension on this ac-
count in London resulted in considerable
buying of stocks in the New York market
for London account. Though there was
dullness in the standard stocks in New
York. prices were firmly held, apparently
on the supposition that the money difficult
tles abroad were in way TO be worked
out satisfactory, which is confirmed by the
TetentlOn or the existing Bank OF England
rate. Meantime speculation turned into the
channels of the industrial specialtieS. There
is a long list Of these showing very ma
terlal gains, but each was influenced by in
dlvidual causes, either real or fictitious.
Sugar advanced on the belief that the reg
ular dividend would be declared next week,
Rubber on the reported demand for the
product, Consumers Gas on rumors of
pending consolidation of gas interests, Lin
seed Oil on the report of a plan for reor-
Jganization and so on through the list The
strength in Consolidated Gas seemed to
have a sympathetic effect on the gas stocks
generally. In the railroad list, while prices
generally advanced, the number of stocks
to show conspicuous strength was small. 1t
included Central and Southern Pacific, CIV
ing color TO reports of plan of settlement
Of the government claims; Oregon Short
line. on the measure for absorption. by
Union Pacific, and Kansas City, Pittsburg
& Gulf and Chicago q Alton. gains in the
latter two cases not being retained, how
over. Louisville & Nashville and Baltimore
& Ohio showed strength Net gains out
side of the industrials are mostly fractional.
There was good demand for bonds and
conspicuous gains in some instances. Total
sales, $370,000. United States new fours adj
vanced Il and the threes, old fOurs and the
fives registered, "a in the bid price.
The following table, prepared by L. w.
Louis, Room II, Board of Trade, shows the
range of quotations: