The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-23
STEADY MONEY RATES
STOCK PRICES SHARPLY ADVANCED
ON NEW YORK CHANGE.
Quick Recovery from the Effects Of
the Paris Hoax Played ON SpecuIa-
tOrs-LOcaI Trade Satisfactory.

at new 1Ork, yesterday, money Oh can
was steady at 2q2A per cent; last loan,
212 per cent.
Prime mercantile paper, S1k@415 per cent.
Sterling exchange was heavy, with actual
business in bankers bills at $4S5A@4.S515
for demand. and at $4S2A for sixty days;
posted rates $4.S21AG4.S3 and $4.S614; COM
mercial bills, S4.S1.
Silver certificates, 601aG611Ac; bar silver,
6C3sc Mexican dollars, 471sc. At London, bar
| silver closed quiet at q 15-16d ounce
Total sales of stocks were 505.9OO shares,
| including Atchison, II 440; Atchison pre-
| ferred, 6S,404; Baltimore & Ohio, 7,410; Chi
cago. Burlington & Quincy lilo; Denver
& Rio Grande preferred, $3.50; Louisville &
Nashville, 1856; Manhattan, 3O,7O5; New
York Central, 1855; Northern Pacific, 1885;
Northern Pacific preferred, $751; North
western, 3045; Rock Island, 1880; Union
Pacific. 1895; Union Pacific preferred, 1910;
! St. Paul, 17,755; Southern Railway, 5000;
Southern Railway preferred, 1852; Texas
& Pacific, $3.50; Union Pacific preferred,
1911; Wabash preferred, $3.50; Paper, $3.50;
Tobacco, 1850; Federal Steel. 1856; Federal
Steel preferred, 22,941; Peoples Gas, 1925;
| Pacific Mail, 4,100; Sugar, 20S94; Western
Union, $685. Chicago Great Western, 1920.
Prices were sharply advanced at the open
| ing on Change, yesterday, and number
Of stocks closed near the best. But the
ket in the meantime, went through peri
cd of depression and the bulk Of the days
| business was done below the best prices
and in some very prominent stocks below
Monday nights closing prices. The opening
advance was emphasized by the discovery
| of the spurious character of Mondays re-
port of Senior Montero Ross refusal to pro-
coed with the peace negotiations at Paris.
| The hears who sold short Monday FASTENED
to cover yesterday morning and there were,
| besides a. large amount of orders in COM
| mission houses from the country at large.
Rock Island, Atchison preferred, Baltimore
| & Ohio, Denver & Rio Grande preferred
and Norfolk & Western preferred were up
about point, and Federal Steel preferred,
Manhattan Tobacco and Peoples Gas rose
from to 1%. This sharp advance in prices
| invited realizing on a very large scale and
there was in addition, renewed heaviness
| in the Northwest railroad properties, on re-
| Vived reports of an emblttered war IN
| prospect between Northern Pacific and Ore
gon Navigation and its extensive allied in
| terests There was a slackeHing up also in
| the advance in the Changers, probably on
| account of the prevailing storm IN the
! West. Very marked weak ness developed IN
| stock dropping off 21a per cent. The reputed
| ground for this weakness is the alleged I'M
| willingness on the part Of some financial
| institutions to accept these newly-hoated
| securities as collateral. There was very
| marked falling off in the conspicuous move
| ment in Atchison securities after the heavi-
| ness in the general market developed IN
| marked degree. These several points of
| weakness appealed for support to some of
| the most powerful interests at the New
| York financial center and the support was
| forthcoming in quite a vigorous manner
| towards the close of the day. The rise in
| banking interest which exercises the domi-
mating control in the property. 1t was re-
| garded as significant that the stocks of 9TH
| er companies in which the same interest
| formation were advanced simultaneously
| with Northern Pacific. Such stocks were
| Southern preferred, which rose an extreme
| "a; the Reading stocks the Erie stocks
| support and manipulation in this group, and
| in Federal Steel which rallied the market.
| incidentally, there was a recovery or 212
points in Delaware & HUDSON and Of near
| ly points in Chicago ton.
| New York bank cearanceS ran up to over
1920 O00,0O0 This activity in the local New
| York money market, the slight disparity in
| rates between there and London, although
| the London rate hardened yesterday, and
the failure of the private discount rate in
| Berlin to fully respond to the advance in
the bank rate there, led to an easier tone
| in the exchange market. Actual rates for
sterling were shaded and posted rates were
reduced 12c.
The bond market also showed decided ac-
| tvity and prices yielded at several points,
| while advancing in others. Total sales. A,-
| registered advanced Is, while the threes
and tours, registered, declined e in bid
price while the threes and fours, registered,
| declined II in bid price.
! The following table. prepared by l.. w.
Louis Room IL Board of Trade, shows the
| range of quotations: