The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-20
LONDON TURNS BUYER
FOREIGNERS WEARY OF BUCKING
AMERICAN BULL SENTIMENT.
Sales of Stocks at New York Again
Reach the Million Mark, with Prices
Higher-LOcaI Trade Active.

At New York yesterday money on call
was steady at 2q9 per cent, last loan at
per cent.
Prime mercantile paper, 1884 per cent.
Sterling exchange was firm. with actual
business in bankers bills at $4.S4a4G4.S5 for
demand and $4S2A@4SS for sixty days;
posted rates, $4S3d4. S31a and 81. S512; CONNER
cial bills, $4S24.
Silver certificates, 5911@6O15c; bar silver,
595sc; Mexican dollars 47@c. At London
bar silver closed uncertain at q 9-16d an
ounce.
The total sales of stocks were 1,070S00
shares including 80, $50 Atchson, $4,000 Atchi-
son preferred 1850 Central Pacific, 1900
Chesapeake & Ohio, $4,000 Burlington, 1900
Cleveland Cincinnati, Chicago & st. Louis,
5000 Denver & Rio Grande, 1926 Denver &
Rio Grande preferred; 1000 Great Northern
preferred, 6,170 Illinois Central $3.50 Lake
Erie & Western, 3,263 Lake Erie & Western
preferred, $500 Louisville & Nashville A.
$50 Manhattan, $3.50 Metropolitan, $500
Reading preferred $4,000 Missouri Pacific,
AGO Northern Pacific, 1890 Northern Pa
cific preferred 4,510 Ontario & Western, 40
500 Rock Island, $1,000 Union Pacific, 1920
Southern Railway, $500 Southern Railway
preferred, &C. 075 Union Pacific preferred, s.
2S0 Wabash preferred, 4,100 Paper, 10,6OO Cot
ton Oil, SIP Tobacco, 1880 Steel, $500 Steel
preferred, 11,92O Peoples Gas, 23,100 Brook
Ign Transit, 6S620 Sugar 81, 220 Tennessee
Coal and Iron $500 Leather preferred 1886
Rubber, 1920 Western Union, $3.50 st. Louis
& Southwestern preferred, 6S25 Chicago
Great Western.
The New York stock market yesterday
was strong and active all day, except for
realizing movement around delivery hour,
when prices receded about a point in many
stocks, but toward the close picked up
sharply and the closing was strong with
material net gains in all the leading shares.
The volume of business was above the mill
lion-share mark, and London, after being
a seller for a long time, reversed her posi-
ton and purchased about 3, 600 shares. Fol
lowing the example of the Imperial Bank of
Germany, the Bank of England reduced its
rate of discount. continuance of easy
money conditions at New York was another
factor in the confidence shown. The grang-
ers made new high record prices for the
current movement, and the average price of
active shares was also the highest The
strong London tone encouraged a high
opening on this side, and as there was a
large accumulation of buying orders over
night the short interests were compelled to
retreat in many stocks. There was heavy
realizing at the advance, but the stocks sold
We're we'll taken and the market broadened
out. The greatest activity and strength was
shown by Manhattan, Burlington. st. Paul,
Sugar Atchison preferred. Reading first
preferred and Northern and Union Pacihcs.
rounding up of shorts The advance in Bur
lngton seemed to be accepted as meaning
that something under consideration in
regard to a refunding scheme, although ne
gotiations under way were said to apply
to the issue of only a small amount of
bonds. The interests concerned were nom
committal and there was no definite de-
VelOpment one way or the other The adj
vance in Manhattan was accompanied by
story connecting the name of a large outside
interest as likely to take part in tinanc-
ing the electrical equipment of the road, but
the denialS of this were emphatic as hither-
to- The increase in the Omaha dividend of
liz per cent. seemed TO have been discounted,
as the stock inactive after the an
nouncement and then dipped in sympathy
the market. Favorable earnings for the
second week in January lent strength to
Louisville. Lake Erie & Western stocks adj
vanced covering by the short interests.
The preferred advanced 512 and the COM
mon 25s on the dissemination of rumors of
q deal with the Cleveland, Cincinnati, Chi
cago & st. Louis. The rumor of the pros
pective retirement of the Minneapolis & st.
Louis first preferred stocks resulted in
advance in the second preferred stock of
over three points. There was an advance
in most of the Gould properties, some of
tan rising 4% and Missouri Pacific points.
Among the investment stocks New York
Central rose a point and q half. There was
considerable liquidation in Kansas, Pitts
burg q Gulf stock and bonds.
The boId market showed relatively more
activity than the stock speculation. Marked
advances were scored all around, with the
UndertOne aggreSSiVely strong. United
States flves, registered, advanced Il in the
bid price
Louis, Room II, Board of Trade, shows the
range of quotations: