The Indianapolis journal., 1898-11-12

| AT New York yesterday money on call was
steady at 2q21z per cent; last loan, per
cent.
Prime mercantile paper, 3G4 per cent.
Sterling exchange was firmer. with actual
business in bankers bills at $4S519Q4S54
for demand, and $4S2A@4S23l for sixty
days; posted rates $4.SS15 and $4S6; COM
mercial bills. s4.S1.
Silver certificates, 6O14Q6112c; bar silver,
6O75c; Mexican dollars 4714c. At London
bar silver closed steady at 2Sd an ounce.
Total tales of stocks were 733,5OO shares,
including: Atchison, 12,O35; Atchison pre-
ferred, 75,165; Central Pacific, 1870; c. & o.,
500; Burlington, q, $50; c., c., c. & St L.,
$3.50; Illinois Central, 41S1; Louisville &
Nashville, 1880; Manhattan S,S76; Metro
pOlitan StreeNrailway, 3,03l; Reading first
preferred, 1926; Missouri Pacific, 10475;
Missouri, Kansas & Texas preferred, 1850;
North American Company. $500; Northern
Pacific, 3O,44O; Northern Pacific preferred.
1850; Rock Island 39.77O; Union Pacific,
24.2l6; St. Paul, 80, $3.50; Southern Pacific pre-
ferred, 13. SS6; Union Pacific preferred, 53975;
Wabash preferred, ,i,315; Tobacco, 23,230;
Bay State Gas, $3.50: Federal Steel, 1910;
Federal Steel preferred, 274SO; Peoples Gas,
S1,525; Pacific Mail. 1424O; Sugar 53 $50;
Tennessee Coal and Iron, 1866; Leather
/
Union. 300; Chicago Great Western, 9,340
Wall street was prepared for an outburst
of enthusiasm stocks on the part of
the general public after yesterdays
ebulent enthusiasm on the part of the
street itself. The grangers, the Northern
Pacifics and the leading Southern railroads
opened high. The public's enthusiasm had
apparently induced it to place large orders
to buy stocks at the opening. The fore
| sight of the large operators in' making the
! opening level of the market high one was
| thus justified, and they fed the eager de-
mand of outsiders quite freely. Prices,
however. were fairly well maintained in the
| first hour, but in spite of the violent ac-
| tivity of the market it soon became evident
| that the supply of stocks fully equal
| to the demand. Room traders detected evil
dence of realizing by large interests and
commenced to sell the market with quite
marked effect on the grangers This had
| the effect of checking activity, and the
| market fell into dullneSS until it received
renewed impetus from the strength of spe-
| cial stocks. The shorts in Sugar became
| nervous as a result of the high loaning rate
| for the stocks and covered some heavy
| lines, raising the price 29s. Union Pacific
preferred was pushed up to 69A, Brooklyn
| Transit above SO, and Peoples Gas above
| 1O1. Frices generally rose to near the best
| again in sympathy with this movement and
| invited renewed buying for outside account
! through commission houses. But the level
was not maintained in the last hour, when
| call money marked up to 212 per cent,
| and prices fell away throughout the list
| Early gains were practically wiped out in
| the grangers, the Pacifcs, except Union
| Pacific preferred, the Southern stocks and
many specialties, including Federal Steel
/ Atchison preferred, which was again the
| leader of the market, showed more sub
| stantial opposition to the decline than many
other stocks. Dealings in all of the Atchi-
| son securities was on an enormous scale,
and it accompanied by reports of the
early entry into the directory of a financial
| interest largely dominant in Rock Island.
| There was an unexplained advance of 21a
| improbably connected with the coincident
strength of Union Pacific preferred. Pacific
also advanced notably on account of in
| creased earnings. The decline of the last
! hour was accompanied by increased activity,
! indicating a, disposition towards liquidation
The bond market was again phenom-
| enally active and embraced a great variety
| of issues. The Atchol adjustment fours
| were, however, easily l.4C leaders, with total
| sales of a par value of nearly 81, coo. This
| bond advanced 2 per cent, to 1874, and re-
| acted q in the late dealings. The Atchison
| general fours were also largely taken.
| Prices are generally higher than yesterday,
| though the highest of the day were not
maintained. Total sales, $2,935000 United
| States fves declined g in the bid price
The following table prepared by l.. w
| Louis, Room II, Board of Trade, shows the
| range of quotations: