The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-04
A RECOVERY IN STOCKS
RAPID ADVANCES IN THE LIST
SHORTLY BEFORE THE CLOSING.
Some of the Changers Made New High
Record Marks-Local Trade
Continues Promising.

At New York yesterday money on call was
steady at l%Q2 per cent; last loan, per cent
Prime mercantile paper, SAG4K per cent.
Sterling exchange firm, with actual bust
ness in bankers bills at 81. S6A64S61k for demand
and at S4s2Ad4.sS for sixty days; posted rates,
s4s31k and s4.S7; commercial bills. $4.S2.
Silver certificates, 6iAG62c bar silver, 81 7-16c;
Mexican dollars. 47Ssc. At London bar silver was
steady at 2S14d ounce.
Total sales of stocks were 1874 300 shares, in
GLIDING: Atchison, 4,505; Burlington 6115; Louis
vile & Nashville, S0.74O; Manhattan. 2,202; Met
ropolitan Street-railway, s319; Northern Pacific,
6,SsS; Chicago Northwestern, $685. Rock Island,
5's47; st. Paul, 11,s7O; Union Pacific preferred,
1882; Tobacco $4,000; Federal Steel, 3Os; Fed
eral Steel preferred, 1920; Sugar. 100000
The stock market practically retrieved yester-
day the losses of the two previous days, the ma
jority of railroad stocks closing within a small
fraction of the prices of last Monday. There was
considerable irreguarity at the opening due to
the depression in London. There was a good deal
of activity during the first hour mainly centered
In the specialtes and changes in the railroad
list were almost unappreciabe. though the mar
ket held a very hard surface. Trading was dull
almost TO the point of stagnation until the last
Few minutes, when the most notable gains were
made. The movement started with a sudden adj
vance of nearly points in Metropolitan Street
railway and Consolidated Gas followed with an
almost equal gain. st. Paul preferred sold at
1924, high record, and Great Northern
preferred jumped over a point Other railroad
stocks which extended their net gains to point
or over were Omaha, Northwestern & Denver pre-
ferred. Gains in the grangers and Northern
Pacific and one or two other stocks Appropriated
point. The market was held through the early
dealings by strength of Sugar, which above
lis and closed after various fluctuations. Tobacco
and Federal Steel preferred also showed harden
ing tendency, but much less active than of
late The recovery in stocks attributed to
relief over the more peaceful prospects abroad
indicated By the recovery in British consols the
easing of the discount rate in London and the
weakness of the wheat market. London bought
in the New York market for the first time in
several days. In view of these developments and
the continued ease of the local money market the
advance in sterling and continental exchange is
difficult TO account for. An incident of the out
side market was the declaration on Standard Oil
assignments of what is, in spite of circumlocu-
ton employed in announcing it, a dividend of 3
per cent regular quarterly and per cent. extra,
bringing the dividends for the year up to 80 per
cent. against 80 per cent. last year and 81 per
cent. the year before The traffic statement of
st. Paul showing an increase for the fourth week
in October OF SAL 64 was a sustaining force
throughout the railroad list.
There was good business done in bonds,
pecially in reorganization tours, which showed a
uniform tendency to advance. The liquidation OF
some heavy blocks in Atchison adjustments car
ried the price down q, with subsequent
cry. Southern Railway fves to par Total sales
$S,O45, 600. United States old fours, coupon,
advanced Is and the tours. coupon, declined
in the bid price to-day.
The following table prepared by L. w. Louis
Room H. Board of Trade, shows the range of
quotations: