The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-29
ANIMATION IN STOCKS
RENEWED BUYING MOVEMENT THAT
CARRIED PRICES UPWARD.
Market Healthier and Freer from
Manipulation than for Some Time
Local Trade quiet.

At New York yesterday money on call was
steady at 2a25 per cent. last loan, 21z per cent.
Prime mercantile paper, Sh94A per cent.
Sterling exchange was weak, with actual business
In bankers bills at S4.S41kQ4s4% for demand and
at As1h@4.S1A for sixty days. posted rates.
H.s24Q4SS and s4s51zG4.s6; commercial bills.
s4s0AQA6.
Silver certificates. sozas115c; bar silver, $3.50;
Mexican dollars, 4s1kc At London bar silver
closed quiet at 271zd an ounce.
Total sales of stocks were 571.2OO shares. in
Guiding: Atchson $685. Atchison preferred. 1900;
Baltimore & Ohio. 4.444; Chesapeake & Ohio.
1880; Chicago Burlington & Quincy. 1850; Dem
yer & Rio Grande preferred, 5000; Erie. 5000;
Louisville & Nashville, $500; Manhattan, 10, 220;
Metropolitan Street-railway, 1890; Reading first
preferred 10. 300; Missouri Pacific, $780, Northern
Pacific, 26, 800; Northern Pacific preferred, 1850;
Northwestern, $3.50; Ontario & Western. $500;
Reading. 6.415; Rock Island $3.50; st. Louis &
San Francisco second preferred, S575; Union
Pacific, $4,000; Union Pacific preferred 1890; St.
Paul, 33.sSS; Southern Railway. $3.50; Southern
Railway preferred, 2O.1sS: Union Pacific. Denver
Gulf. 1920; Wabash preferred 3O72; Paper,
$500; Paper preferred, $3.50; Tobacco 10 s44 Fed
eral Steel S,141 Federal Steel preferred, 1000;
Peoples Cas- 5.120; Pacific Mail, $40; Sugar,
1O,205; Rubber, 4,205; Western Union, 1854
An animated buying movement broke out in the
last half hour of yesterdays New York stock
market which carried prices throughout the list
buoyantly above the previous high level and made
the closing very strong. The demand was broad
and better distributed than at any other time
during the day and the market looked healthier
and freer from manipulation and less congested
in a few prominent stocks than at any time dur
ing the current upward movement. Just what
was the motive for the renewal of the buying
obvious he hSti
Of the market in the period of dullness and
action in spots which followed the opening
strength had large influence in encouraging
newed commitments to the long side. The re-
ceipt Of some orders by commission houses which
had been held back by damage to telegraph wires
also factor. The market had already had
its opening squirt on the acceptance by Spain Of
the peace terms offered by the United States.
Prices for Americans had been sharply advanced
in London on the strength of this factor before
the opening here The professional traders rule
to sell good news brought flood of offerings
to realize the opening advance by those who
had been buying for several days past in anticpa-
tion OF the Paris decision. The bears seized the
opportunity to attack a group Of specialties. in
Guiding Manhattan, Brooklyn Transit, Sugar, Peo-
pies Gas and Tobacco and worked declines in
them of from 1 to per cent. The coalers, which
have often been the target for the bears broke
away from the associations and showed unusual
strength account OF the belief in an adjust
ment Of difficulties the control of the trade.
There was no table realizing in the Atchison is
sues which held them throughout the dav. There
was heavness also In Federal Steel stocks and at
one time in Sugar. The reactionary tendency car
ried prices before the middle of the day back to
near Saturdays level in some cases. The recov-
cry began with the receipt of number of strong
traffic returns notably that Of st. Paul for
October which showed increase in net
ings Of 1905. SIG. after addition to operating
penses Of nearly 1872 600 over last years expendi
lures. There We're good statements besides for the
third week in November from Norfolk & Western.
st. Louis and San Francisco. Southern Railway
and Denver & Rio Grande. and for October from
Chesapeake & Ohio. besides an increase OF east
bound shipments from Chicago last week of 1873
tons the preceding week and Of 81, 442 tons
over the corresponding period Of last year. The
trunk lines felt the benefit OF this latter state
ment especially those OF the South the Northern
lines feeling the adverse effect of the snowstorm.
Baltimore Ohio became conspicuous in this
group in the late dealings The aggressive
strength shown by Union Pacific Northern Pacific
and the Oregon Short-line issues rather con-
vincng evidence Of progress In the efforts to heal
the difference between Northern Pacific and
Oregon Navigation. There was conspicuous up
ward movement in Metropolitan Street-railway,
carrying it to $685. in spite Of loss of earnings by
the snowstorm.
The bond market was strong and active and
showed a general upward tendency in sympathy
with stocks. Total sales S. 100000. United States
twos declined ", while the fives advanced 4 and
the old fours registered, and the new fours * in
the bid price.
The following table, prepared by L. w. Louis,
Room IL, Board Of Trade. shows the range of
quotations: