The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-13
ADVANCES IN STOCKS
THE GOULD SHARES PROMINENT
AND SCORED LARGE GAINS.
Less Fear of n Tight Money Market
Helps the Bulls-LOcal Markets
Continue Satisfactory.

At New York yesterday money on call
was steady at 3q5 per cent; last loan, per
cent.
Prime mercantile paper, 312d4 per cent.
Sterling exchange was firm, with actual
business in bankers bills at S4.S7h44.S71z
for demand and A.S414 d4Si1s for sixty days;
posted rates. A.S512a4S61a and $i.SSq4SSls
commercial bills. $4S4.
Silver certificates, 6oa61c; bar silver, 60
q601sc; Mexican dollars 47Ac. At London
bar silver closed quiet at q 11-16d an ounce
Total sales of stocks amounted to 643, 292
shares, including: American Steel, IL coo;
American Sugar. 26.1O0; Atchison, 5,OO0
Atchison preferred. "a 800; Brooklyn Transit,
$500; Burlington, 1890; Continental Tobac-
co. 5000; Federal Steel, 1900; l.. & N, $780,
Manhattan, %. 400; Northern Pacific, IL AGO.
Rock Island, 1850; st. Paul, IS, 400; Union
Pacific, 10 200; Union Pacific preferred, H.
900; Wabash, 5000; Brunswick Company,
1900; Chesapeake & Ohio, q, 800; Mexican
Central, $500: NJ, K. & T. preferred. 5000;
Missouri Pacific. 1890; New York Central
l. 600; Pennsylvania, 1920; st. Louis &
Southwestern preferred, 1900; Tennessee
Coal and Iron, 1900
The New York stock market showed con-
siderable strength yesterday and buying
by professional operators was on a large
scale There was a good demand from out
slders through commission houses at the
opening, encouraged by the rise in prices
Tuesday, and Tuesdays professional buy
ers were free sellers to realize while this
lasted. The market then came to the GUS
tomary halt after such process before
taking up an advance. An eager demand
developed for Missouri Pacific and affected
IL
sympathy. Not only the stocks. but all the
securities of this group of railroads were
affected. Missouri Pacific held the leader
ship of the market throughout the day and
made late advance to 4S2sc. an extreme
rise of two points. The motive Of this buy
ing was the Wall-street rumor of plans
for merging the various railroad properties
in the Southwest in which the Goulds are
interested. Good buying set in early for the
grangers Pacifcs and Atchison preferred.
and after midday New York Central was
suddenly pushed up an extreme 2ssc. Large
buying of Pennsylvania at an advance Of
IL seemed to be associated with the
New York Central movement. but an at
tempt was made to connect the latter with
Union Pacific and Northwestern by manipu-
lating the price of those two stocks. All
of the Northwesterns gain was subsequent
ly lost. The manner in which the buying
demand progressed through the railroad
list, together with the upward tendency
in Sugar, prompted the professionals to at
tempt a movementein the industrial stocks.
Leather preferred, National Steel; I'm
Plate. Federal Steel and General Electric
were bid up between one and two points
and New York Air Brake made character
istic upward dash of nineteen points Mex
lean Central rose quite conspicuously
21a per cent. under the sentimental influence
of the opening in New York. of subscrip-
tons for the New Mexican refunding loan.
Sugar, Manhattan and Brooklyn Transit
dropped sharply from top figures ana many
of the gains in the industrials were prac-
tically wiped out Prices of rallroads
closing was decidedly heavy, net gains be-
ing only partly retained
TIE money market was easier and conn.,
dence is felt that the supply wiz become
still more abundant at very early date
Several large loans for the purpose OF new
the banks are gaining money from the SUD-
treasury. The bull traders are talking OF a
very favorable bank statement on next
Saturday The New York stock market
received some support to-day from London,
I'm snite of the continued heaviness there In
late in the day. the fall in the price or gold
in London and the advance in sterling ex-
change in Paris and Berlin indicated a re-
Taxation of the money market pressure.
There was a good business in bonds, 81
Louis q Southwestern seconds leading the
market Total sales. par value, 81 3S5 900
United States twos, registered, decnned q
and the threes, registered, u, while the
old fours registered, advanced "a In the
bid prices. VI,
Louis, Room II. Board OF TRADE, SHOWS the
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