The Indianapolis journal., 1898-12-22
STOCK TRADE ENORMOUS
LARGE FOREIGN ORDERS AND AC-
TIVE LOCAL TRANSACTIONS.
AtchiSOn, Federal Steel and Union
Pacific Exceeded Sugar i'm Volume
Local business Active.

At New York, yesterday, money on call
was steady at 2121s per cent, the last loan
being made at 2 per cent.
Prime mercantile paper, 9GS1s per cent
Sterling exchange was easier, with actual
business in bankers bills at $4S412Q4S4A
for demand and $4.M%@4S2 for sixty days;
posted rates $4S214 and $4s51s; commercial
bills, $4S0h.
Silver certificates. 5912d6O1zc; bar silver,
59l2c; Mexican dollars 465sc At London bar
silver closed fiat at 273sd ounce.
Total sales stocks, S45, 500 shares, including:
Atchison, 27,625; Atchison preferred, 1890;
Baltimore & Ohio, 6.66S: Central Pacific, 3O,
420; Chesapeake & Ohio, 1858; Chicago, Bur-
lington & Quincy, $3.50; Denver & Rio
Grande, $3.50; Denver & Rio Grande pre-
ferred, 1859; Lake Erie & Western, 1854;
Lake Erie & Western preferred S.51S; Louis
vile & Nashville, 1920; Manhattan, $500;
Minnesota & St. Louis, 5220; Missouri Pa
cific, 7,1C0; Missouri Pacific preferred, 7440;
New York Central, $780, Northern Pacific,
S,220; Rock Island, 1O,620 Union Pacific, A.,
62O Union Pacific preferred, S2S2O; ST. Paul,
19,320 Southern Pacific, $3.50; Southern, g.,
170 Southern preferred 1920; Texas & Pa
cific, 1880; Paper, 13S40; Tobacco, II, ,OSO;
Federal Steel 5000; Federal Steel preferred,
AZ, 500; Peoples Cas- $500; Consolidated Gas,
II 1,420; Colorado Fuel and Iron, 1885; Pacific
Mail, $780, Sugar, 600; Western Union,
AGO; st. Louis & Southwestern preferred,
1896; Chicago Great Western, $500
The New York stock market was strong
most of the day yesterday particularly IN
the late trading Fractional gains were gen.
eral in the railways, while the advance in
number of specialties reached considerable
proportions. A curious exception to the gen.
nru1 odt
dividends have just been declared, namely,
New York Central, Southern preferred and
Atch1son preferred. In some quarters larger
dividends had been expected and in the case
of Southern preferred and Atchison pre-
terred a statement had been looked forward
to that they could be put on a regular div
idend basis instead of disbursements from
time to time as the earnings warranted. A
considerable increase in its quarterly sur
plus was responsible for New York Central $
rise from the extreme low point. The ef-
forts of London traders to cover short lines
IN Americans gave tone TO the market
early This was particularly the case in
Baltimore & Ohio, which advanced very
buoyantly locally. There were large pur
chases also for foreign account of st. Paul.
Most stocks unaffected by special develop
mentS or foreign quotations were freely Of
fered by the traders but this caused little
more than a period of hesitancy and a shad
ing in railroad quotations. RumOrs that the
Chicago * Alton had been secured in the
interest Of the Union Pacific and Baltimore
e. Ohio resulted in a sharp rise in all the
securities mentloned. Federal Steel stock
bought confidently by the parties
who have recently been large purchaser; at
the same time they emphatically denied ru-
mors that Federal Steel was about to alb
sorb another large concern. The South
western railroads were very prominent in
the activity and strength, notably Texas Pa
cific
The bond market showed irreguarity in
spots profit taking being evident in Atchi-
son adjustments. Heavy purchases of Texas
Pacific seconds were made late in the day,
which carried them above 10. The general
market, Notwithstanding the hesitancy of
some issues, displayed very healthful un-
dertone Total sales $504O.000 United
States old fours, registered, advanced 1s in
the bid price.
The following table. prepared by L. w.
range of quotations: