The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-17
BOOM IN STOCKS AGAIN
HEAVY BUYING, WITH PROSPECT
SHARES ARE TO Go HIGHER.
Burlington Bowls over the Bears and
Bulls Are An High GIee on Change
Local Trade Active.

At New York yesterday money on call was
steady at 21kQ3 per cent. last loan. 25 per cent.
Prime mercantile paper, 224QSh per cent.
Sterling exchange was steady, with actual bust
ness in bankers bills at $4S604.S6h for demand
and at s4s4Q4. s41l for sixty days; posted rates,
A.s5 and $4.s7; commercial bills, $4S31A.
Silver certificates, 591z@6Olzc; bar silver, 59Ac;
Mexican dollars 471lc. AT London bar silver
closed steady at q Tied ounce.
Total sales Of stocks were ST., 400 shares, includ-
ing 5175 Atchison 800 Atchison preferred 80 9S5
Central Pacific. $3.50 Burlington 1885 Cleveland.
Cincinnati Chicago & St Louis. 1900 Erie pre-
ferred, $500 Louisville & Nashville, 5000 Man
haitian, 1900 Metropolitan, 1870 Reading, Also
Missouri Pacific, 1850 New Jersey Central, q, 22O
New York Central, AZ $40 Northern Pacific, $50
Northern Pacific preferred. 10 400 Ontario & West
ern, 1900 Pittsburg, $1,000 Union Pacific, q 800
ST. Paul. 49, 400 Southern Pacific, 1885 Southern
Railway, $500 Southern Railway preferred. $500
Texas e. Pacific. 1880 Union Pacific preferred,
$3.50 Paper. 2s.s2O Tobacco, $4,000 Federal Steel.
1880 Federal Steel preferred, $3.50 Peoples Gas.
$3.50 Consolidated Gas, $40 Brooklyn Transit.
25.75O Sugar, SIPS Tennessee Coal and Iron, 4,sSO
Rubber, 5,935 Chicago Great Western.
Practically all prominent stocks advanced on
New York Change yesterday, with gains in many
cases material. and trading left off with the tone
strong and prices at the best. Traders from time
to time sought to bring about a reaction but We're
dislodged from position after another and
the upward movement became general. In fact
the only active stocks Of Importance that were
exceptions to the rule were Tobacco and North
ern Pacific, the former suffering a loss Of 81 on
the prospect Of increased competition and the lat
ter u on decrease in earnings reported Wednes-
day for the second week in February, which de-
crease said to be due to storms. London
houses reversed their policy on Northern Pacific
and other stocks. Burlington which was ex
dividend, made extreme advance of IA
large volume Of trading approxmating 200 900
shares. The buying Of this stock largely by
houses having Boston connections. The advance
was stimulated by the statement of a prominent
operator that he had purchased largely in the
belief that refunding plan would be announced
in few days. The influence Of Burlington's
strength permeated the whole list, but more af-
fected the other grangers, which were benefited to
the extent of point and over Union Pacific
was lifted nearly two points and the preferred
over a point. while Central Pacific advanced "a
per cent. on the report that an arrangement had
been reached with the government committee for
the settlement of its obligations to the United
States. Metropolitan Street-railway and Third
Avenue very strong. rising AZ and 5, re-
spectivey. Federal Steel was in the van of the
Flower stocks in their rise, which began as the
day drew to close; the common advanced three
points and the preferred two. Among the coalers
Reading first preferred and Jersey Central rose
III each. International Paper and Sugar adj
vanced over two points EACH New York Central
and Northwest among the Vanderbilts were bene-
fitted about point in the rise, while Cleveland
Cincinnati. Chicago & ST. Louis left off with a
gain Of rs. The traders thought that the frac-
tional advance in London before the opening had
been manipulated from this side. They sold
freely the idea that the effects of the storm
would result In lower prices at least temporarily
Subsequently they covered from time to time as
pronounced strength appeared in the various
stocks. In the final dealings some stocks were
taken in expectation that the days advance would
bring the public into the market in day or two.
The excess Of exports over imports for January,
approximating $4,000 CO., was something of a sus-
easy Of settling for the large sales OF
Americ IN stocks for foreign account in the past
three weeks.
The healthful tone in stock speculation received
considerable backlog from the confident pur-
chases in the bond market. Central Georgia con-
soils and Wisconsin Central hrsts led in point of
activity and strength and important gains were
also chroniced elsewhere. Total sales, S. 800 O00
United States new fours, the old tours and the
fves declined 1s in the bid price.
The following table, prepared by L. w. Louis,
Room II, Board Of Trade, shows the range of
quotations: