The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-13
STOCKS WERE BOOMING
HIGHEST POINT FOR MANY SINCE
UPWARD MOVEMENT SET IN.
Enormous Volume of Business, with
AtchisOns Leading the Market
Local Trade Satisfac Glory.

At New York yesterday money on call was
steady at 2I4G21s per cent. last loan, pa per cent
Prime mercantile paper, S4G4 per cent
Sterling exchange was easier. with actual bust
in bankers bills at 81 SAY for demand
and at $4s112Q4.S1A for sixty days. posted rates,
$4.S2z and A.s51a commercial bills, $3.50.
Silver certificates, 5s17Q6O1sc bar silver, $3.50;
Mexican dollars. 4s12c. At London bar silver
closed at q 7-16d ounce.
Total sales of stocks were sS5 400 shares includ-
ing $500 Atchison, $50 200 Achison preferred S2S5
Canada Southern. 4,035 Central Pacific, 12,7SO
Chesapeake & Ohio 9,SS0 Chicago, Burlington &
Quincy $500 Denver & Rio Grande 1850 Illinois
Central, p 12O Louisville & Nashville H. 894 Man
haitian. $3.50 Metropolitan 49, 22O Missouri Pacific.
$500 Missouri, Kansas & Texas preferred, S,22O
New York Central, 80. $40 Northern Pacific 20.S2O
Northern Pacific preferred, 20,60O Ontario &
Western, 1920 Rock Island, 72O Union Pacific,
%, $50 ST. Paul, LOO Southern Pacific, 5000 South
ern Railway, II. 400 Southern Railway preferred,
$500 Texas & Pacific. ,72O Union Pacific pre-.
ferred, 5000 Wheeling g. Lake Erie, 1900 Wheel
in Lake Erie preferred, g. 800 American Spirits,
21O Tobacco 1O,1OO Steel, 1890 Steel preferred,
1900 Peoples Gas, 300 Consolidated Gas 1910
General Electric, $500 Pacific Mail, 400 Pullman,
ST. $40 Sugar, 2 100 Tennessee Coal and Iron, APO
Leather preferred. 1900 Rubber. 1881 Western
Union, $500 St Louis & Southwestern, 3,7OO st.
Louis & Southwestern preferred.
New York stocks made very material Roadway
yesterday in the present upward movement and
left off buoyant with advances in standard stocks
ranging from one to three points, while this rise
was exceeded in many less prominent stocks,
notably Pullman Third-avenue and Edison IL
Eliminating Tha transactions for the day in
stocks and bonds enormous scale, inn
mense blocks of securities changing hands at ris-
ing figures. Early quotations were in strong sym
pathy with London, where there scramble
for stock, even after the close there for the new
account, which opens to-day. Commission houses
were in receipt of many orders to buy at the
market and the volume of this offset frequent ef
forts to depreSs values. Reports of traffic earn
ings for the first week in December almost
uniformly favorable, were several belated
November statements of gross earnings. An in
cident exerting favorable effect the receipt
of over 49, 00O 900 in gold from France and London.
The immense demand for bonds in which the
transactions reached sSo0OO0O exerted
favorable influence in stocks as did a tendency
to discount January dividend disbursements.
Atchison preferred, transactions of 10000
shares, went up go. The heavy purchases were
made by brokers identified with prominent in
terests active in other properties The drift of
speculative activity in the grangers was interpret
ed favorably. High-priced investment stock, like
the grangers preferred, Great Northern preferred,
Pullman, New Haven & Hartford and Albany &
Susquehanna rose sharply. Except Sugar, the in
dustrials tended upward. New York Centrals
price crossed that of Pennsylvania. The coalers,
on favorable trade outlook. were conspicuous for
advances. General Electric responded to reports
of sales of its product abroad. The Pacfcs were
strong with the rest of the market, Northern
Pacific overcoming the early heaviness due to the
reports that the company favored extensions into
Oregon Navigation Companys territory.
The market for bonds was one of the strongest
and most active Of the year, there being many adj
vances of a point a renewal of foreign
buying on a considerable scale noticeable.
Atchison issues expanded and great many note
worthy gains chronicled in leading mort
cages Total sales, $S4SOOOO United States new
tours, the old fours coupon, and the fves, reg
istered advanced Is in the bid price.
The following table prepared by L. W. Louis,
Room II, Board of Trade, shows the range of
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