The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-18
LIVELY STOCK TRADING
STRONG DEMAND AND FLUCTUA-
TIONS ON CHANGE FAVOR BULLS.
Notable Advances Yesterday Follow
ing humber of Declines-LOcaI
Markets Are Steady.

At New York yesterday money on call was
easier at 2@2A per cent; last loan, per cent.
Prime mercantile paper 5Q4 per cent.
Sterling exchange was firmer, with actual bust
ness in bankers bills at $iS5A q4.s51s for demand
and at s4.s2G4.S2A for sixty days; posted rates.
s4sS and $4s6A; commercial bills, sis1hG4S1A.
Silver certificates eO7sa61lzc; bar silver, 6O24c;
Mexican dollars. 47Hc. At London bar silver
closed steady at Esd ounce.
Total. sales of stocks were 637, 100 shares incud
ing: Atchison. % 492; Atchison preferred 11S,93S
Baltimore & Ohio. 5sS5; Chicago, Burlington &
Quincy, 32339; Denver & Rio Grande, 4,SS0
Denver & Rio Grande preferred, 15,O24; Louisville
& Nashville. 1920; Metropolitan Street-railway,
1885; Missouri Pacific 1856; New York Central,
$500; Northern Pacific. $500; Northern Pacific
preferred, 9s03; Northwestern, 1850; Rock Island
32.s75; Union Pacific, 1854; Union Pacific pre-
ferred, 1880: St. Paul. $500; Southern Railway
preferred, 5,247; Tobacco 1881; Bay State Cas-
$500; Federal Steel, 9.22e; Federal Steel preferred
II, 450; Pacific Mail 10, 2O5; Sugar S7,215; Chicago
Great Western. "A 0CO
The results of yesterday New York stock mar
ket operations rather inconclusive except in
so far they showed continued lively interest
the part of the outside public in securities of
all grades. So far prices concerned net
changes are rather mixed though the majority is
on the side of gains and these in some cases
of the market showed the heavy offerings TO
| realize which, at all times usual in the upward
course of a real bull market. But even while
| prices sagged at some points with the effort to
absorb the offerings other stocks mounted upward,
maintaining the undertone of firmness. The par
| ticulary notable movement in Atchison preferred
was continued from the outside, at which time
running purchases carried the price up 5sc The
gain subsequently extended to nc and the
net gain is almost point. There very heavy
demand early for Denver preferred, which had
been marked up in London before the opening in
New York. This stock rose extreme points
and Norfolk & Western preferred ~. Baltimore
& Ohio, Pacific Mail and International Paper gave
tone also to the early market as did an upward
bound of so in Metropolitan Street-railway. Early
weakness in Tobacco and the reaction in Chicago
& Alton from its recent advance had an unset
Ting effect in the first hour In the second hour
however, the grangers were taken in hand and
Burlington and Rock Island were pushed to the
highest prices of the year Some of the low-priced
and lately dormant stocks were also brought into
the movement and advanced to a higher level.
These included Denver & Rio Grande ST. Louis
| e Southwestern preferred, American Spirits. Chi
! cago & Eastern Illinois, Minnesota & ST. Louis
| and Standard Distributing. There were conspicu-
Gus advances also in New York Central Pennsyl-
| vania and Canada Southern. ST. Paul & Omaha
| preferred sold at 40. advance of points and
the highest price record. The late reaction was
induced by the persistent weakness of the North
| ern Pacific and the uneasiness thus caused in the
minds of holders by rumors of dscord and pros
pectve outbreak of hostilites in the Northwestern
| railroad world. The common stock fell to 40h
| and the preferred to 75 Support was apparently
| entirely withdrawn from these stocks and very
heavy blocks were thrown the market. The
aggressive buying of Peoples Gas up to 1917 in
the late dealings rallied the market and made
| firm closing in spite of the late weakness in
Delaware & Hudson and Sugar.
The local New York money market showed
further hardening tendency and the irmness of
foreign exchange indicates a resumption of the
holding back of bills. The level of the London
money market, which declined apprecably, is
so near that of New York that a strngency in
the local New York money market could find no
relief in gold import movement.
The bond market showed recurrence of it's
recent strength, Wednesdays declines being in
part relieved. Total sales. 81 0400O0 United
States new fours, coupon, and the fives. coupon,
declined 4 and the new fours, registered, Is in
the bid price
The following table. rro-a~od by L. w. Louis
Room IL. Board of Trace, -nows the range OF
quotations: