The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-23
BIG VOLUME OF SALES
UPWARD MOVEMENT IN STOCK MAR
KET STILL CONTINUES.
Enormous transactions, in Which
Foreigners Figured Largely
Local Trade Lively.

At New York yesterday money on call
steady at 2a215 per cent; last loan. per cent
Prime mercantile paper 3d31a Per cent.
Sterling exchange was steady, with actual bust
ness in bankers bills at S4S41s94 s424 for demand
and at $4Sl%G4.s2 for sixty days; posted rates.
$4.S21s and $4.s5K; commercial bills. s4.S1.
Silver certificates. 6O1zc; bar silver 5sAc; Mex
lean dollars, 1880. At London bar silver closed
quiet at 27ssd ounce.
Total sales of stocks were $685. 100 shares includ-
ing 6,110 Atchson 32 700 Atchison preferred 25 500
Central Pacific. 1926 Chesapeake & Ohio. D. $40
Chicago, Burlington & Quincy 1855 Denver & Rio
Grande 1850 Denver & Rio Grande preferred,
$3.50 Illinois Central TO- 4s5 Lake Erie &, Western
3,ST4 Lake Erie & Western preferred, 500 Louis
vile e. Nashville, 5000 Minneapolis &c St. Louis,
$40 Missouri Pacific. 1920 Missouri, Kansas &
Texas preferred, II $50 Northern Pacific 80 600
Rock Island, 49, 200 Union Pacific, "a 294 ST. Paul.
1850 Southern Pacific, 4,3S1 Southern preferred,
1855 Texas & Pacific, $4,000 Union Pacific pre-
ferred, 1885 Paper 1880 American Spirits z 900
American Spirits preferred. 9.co0 Tobacco, 1S,72O
Steel. 3O,550 Steel preferred 1880 Peoples Gas.
$50 Colorado Fuel and Iron 6,725 Pacific Mail
49, O2O Sugar % $40 Tennessee Coal and Iron 10 $40
Leather l4,7OO Leather preferred, 1850 St Louis
& Southwestern, 1920 ST. Louis G. Southwestern
preferred 10,920 Chicago Great Western.
The New York stock market continued its up
ward movement yesterday on a tremendous vol
ume of business, second only to the record made
one day last week. London traded both ways
her purchases and sales being larger than for a
long time On balance it is estimated that over
$4,000 shares were taken for London account
Denver & Rio Grande preferred was a favorite in
both markets on predictions of a 2 per cent divi-
dend which later materialized Union Pacific
issues were absorbed on rising prices for both
foreign aed domestic accounts. A pool appar-
emily connected with prominent banking interests
seemed in control of this stock in the trading
There were no new developments in the property
except that a good showing was forecasted for
the November statement to be presently issued
and the continued association of the property
with the Alton deal, in which other roads as well
are supposed to be interested. Realizing sales by
certain large interests, although causing a re-
dictionary movement early in the day, seemed to
have been we'll taken considering their volume
Then evidence of scale buying and conspicuous
purchases by two powerful interests resulted in
an almost buoyant tone before noon. There was
covering of shorts, who have expected a reaction
which failed to appear to any extent thus far
because OF the large absorption of securities by
the public. There pronounced strength in
the grangers, Rock Island crossing Ill by a hand
some fraction while st. Paul stood around 11S
and Quincy 12S. The movement in these and
olner STANDARD dlNldend-paylng stocks had a good
influence elsewhere where bull leaders were sue
cessful in stimulating the movement. Rumors of
favorable developments aided some hitherto neg
lected issues. Minneapolis & st. Louis second
preferred sold at the highest price since the prop
erty was reorganized. Tobacco and Sugar dis
played exceptional weakness at one time but re-
covered substantially in sympathy with the late
buoyant speculation Baltimore g. Ohio shares
suffered from realizing consequent on yesterday
substantial improvement. Missouri Pacific, after
period of heaviness, rallied three points on
rumors that a dividend declaration not i'm
probable. Federal Steel continued its advance
the common rising three points on the favorable
trade situation and the belief that powerful in
terests were supporting the stock
The bond market was irregular during the early
part of the day, but subsequently moved grad
ually upward in sympathy with the stock market.
Sales We're $12. 10000. United States threes ad-
vanced Il and the new tours and old tours,
coupon, Il in the bid price.
The following table, prepared by L. w. Louis,
Room H. Board of Trade, shows the range of