The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-05
ADVANCE IN STOCKS
BOTH SPECIALTIES AND RAILROADS
COME UP WITH GAINS.
Sugar Trust Shares Especially Strong,
but Tobacco Fell OR-LOcaI
Trade Encouraging.

AT New York, yesterday, money on call
was easy at III per cent; last loan, 2.
Prime mercantile paper, S14@44 per cent.
Sterling exchange was easier. with actual
business in bankers bills at $4.85a4G4.S6 for
demand and $4.s2AQ4.S4 for sixty days;
posted rates, $4.S51s and $487; commercial
bills, $4.S1a4.
Silver certificates, 617s@6134c; bar silver,
6l1sc; Mexican dollars, 4712c. At London
bar silver closed steady at 2S1sd an ounce.
Total sales of stocks were 255 400 shares,
including: Atchison preferred. 5.3S1; Bur-
lington, 9,210; Denver & Rio Grande pre-
ferred, 9145; Louisville & Nashville, q, $50;
Metropolitan Street Railway, II, 4S9; North
ern Pacific, 4,S45; Rock Island 5,2S8; st.
Paul, 5000; Southern preferred, STA; Union
Pacific, 1913; Bay State Gas, 45945; Federal
Steel, 4,72O; Federal Steel preferred, 5.997;
Sugar, 81, 1913.
There was some futter among shorts in
Sugar on New York Change yesterday
morning on the report that the American
Company had acquired the entire Hawaiian
crop. Operators who had been selling the
stock on the benevolent limitations of an
authority in the Hawaiian sugar industry
of the loss involved in the present rates for
selling the refined sugar, fastened to cover
their short contracts and rushed the price
up Ia points. The price was sustained with
difficulty, which increased as the day pro-
crossed so that the stock closed with q
net loss in spite of the dissemination of the
rumors that the company in a way to
secure the Louisiana crop also. Tobacco,
also, although it rose in the early trading,
dropped over 8 points before the close
which was at a net decline of 23s The trad
ing in the specialties was hardly as active
as of late and the Federal Steel stocks were
also rather neglected and inclined to
heaviness. In the railroad list there were
various points of aggressive strength and
a broadening tendency. The division of
these. is somewhat equalized by the falling
off in activity in the grangers and Pacifics,
especially the latter, the preferred stocks
of which did not offer a single quotation
until some time after the opening of the
exchange On the other hand there was a
notable increase of activity in Denver 81
Rio Grande preferred, which rose over a
point on the strength of the continued in
crease in earnings, which was over $66, 900
for the fourth week in October, and $780,
700 for the month. The Southern roads were
quite uniformly strong Also notable gains
being registered by Louisville on belief of
an early resumption of dividends. and
Southern Railway preferred and Mobile &
Ohio on good traffic returns. There were
excellent statements of earnings for the
fourth week in October also from Wiscon-
sin Central Norfolk & Western, Chesa-
| peake & Ohio, Missouri Pacific, Chicago
| Great Western, Lake Erie q Western and
other railroads, and strong statement for
| September from Cleveland, Cincinnati, Chit
! cago & St. Louis. The comparative hesita-
ton in the grangers was largely due to the
Rock Island statement for September,
which showed the increase Of $64 3S1 in
gross earnings more than wiped out by in
| creased operating expenses SO as to show a
| decrease in net earnings of over $29, 600.
| The decision to dissolve the Joint Traffic
| Association was without effect, that action
| having been discounted as matter of
| course.
The bond market showed large demand,
embracing a wide variety Of issues, the
per cent. bonds Of reorganized roads con-
| tinuing the favorites. The Union Pacific
preferred took front rank in this class,
crossing the Northern Pacific prior liens
| and closing at 1915 Total sales, S. SIS, 900.
| United States fives. coupon, advanced Il,
| and the new tours, regular, " in the bid
/ price.
The following table, prepared by L. w.
| Louis, Room H. Board of Trade, shows the
| range of quotations: