The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-11
STEADY RISE IN STOCKS
ADVANCE SET IN AT THE START AND
CONTINUED TO THE CLOSE.
The De LONE Incident Failed TO Cause
Any Sensation ON Change
Local Trade Quiet.

At New York yesterday money on call
was easy at 10115 per cent; last loan liz
per cent.
Prime mercantile paper, S14 per cent.
Sterling exchange was strong, with ac-
tuaI business in bankers bills at $4S5si for
demand and at $4SsG4SSA for sixty days;
posted rates, $4S4 and $4.s6ls; commercial
bills $.s2s4.
Silver certificates. 5s12@571zc; bar silver,
561sc: Mexican dollars. Sac AT London
bar silver closed quiet at 26lzd ounce.
Total sales of stocks. 800 shares, in
GLIDING: Atchison preferred, 1850; Chicago,
Burlington & Quincy, 1880; Erie preferred.
$500: Hooking Valley. 1870; Louisville &
Nashville 11,s2O; Manhattan, 23,S20 Metro
politan, 1890; Michigan Central, $3.50; Mis-
souri, Pacific, 1920; New York Central, 3s,-
$50; Northern Pacific, 1864: Northern Pacific
preferred, 1O92O; Rock Island, 4S2O; ST.
Paul. IS 1854; St Paul & Omaha, 1880; South
ern, 1850; Southern preferred, 1910; Union
Pacific, IL 100; Tobacco, 15,52O; Peoples Gas
$780, Consumers Gas. 6,9s5: Pullman Pal
ace, 5,577; Sugar. lo.sSo;. Western Union,
4120
The most interesting feature of yester-
days stock market was the manner in
which it regarded the Spanish minister's
resignation. In view of the constituencies In
the recent past to everything connected
with the Cuban question, its disregard of
an incident involving so acute a phase of
feeling is noteworthy. The view taken of
the subject in Wall street was that the pos
sibiity of danger in it had been avoided by
the firm and prompt manner in which the
incident had been treated by the govern
ment. Prices advanced from the opening
of the market. Higher quotations from
London gave an impetus to the opening
rise. There was no general setback from
the opening to the close of the market. The
only thing approaching it was occa~
sional pause in the advance but this was
simply due to the falling off in the buying
and not to heavy offerings On renewal
of activity the upward movement began
again. Advances were not uniform and
were not simultaneous. Considering the
volume Of the trading for the day, the rise
in some stocks was notably small In those
which show large gains the advances We're
made at different times during the day,
first one and then another stock or group
of stocks being taken up and pushed. The
local traction Securities scored the largest
advances and showed the heaviest dealings
of any group in the list. Metropolitan
Wednesday with a rise of AZ points on
rulmors of special benefits in the shape of
privileges in a further issue of stock. Man
haitian was at one time over three points
up. but feverish at the advance.-T Third
avenue rose 21a and Brooklyn Transit two
points The strength of the market showed
a tendency to run to the specalties. and
Tobacco General Electric Western Union
and Susquehanna & Western preferred were
conspicuous in the days movement. Pull
man added five more points to its remark
able advance. The nainstay OF the market
was the renewed buying a large scale of
the New York Central and the strength of
Northwest Omaha and other Vanderbilt
stocks. The grangers a group We're
strong, Burlington leading. Noteworthy
advances were also scored by Louisville,
Grand Island and Hooking Valley stocks.
Adams Express was bid up % points over
Wednesdays bad price without eliciting any
offers. American Express sold ~ points
over the last sale and was bid up two points
higher.
There was further easing in money
rates and sterling exchange continued firm.
The recent slight reaction in speculative
bonds terminated yesterday. and the gem
eral movement was again strongly upward
on very large business. It was reported
that 81 0C0 600 worth of single issue have
been taken for London account. Total
sales 81. 1896. 0O0. United States new fOurs,
regular, u lower bid.
There heavy trading in the outside
New York market yesterday in the Stand
ard Oil Company liquidation certificates,
the price being above previous records.
Sales were successfully at 430, 437 and 44512
before noon. One sale of Standard Oil was
reported at AS.
The following table. prepared by l.. w.
Louis Room II. Board of Trade, shows the
range Of quotations: