The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-19
BULLS STILL ON TOP
NEW YORK STOCKS CONTINUE THEIR
UPWARD MOVEMENT.
Gains Ranged from Fractions to Sew
eraI Points with the Demand
stronghold Trade Active.

At New York yesterday money on call was
steady at 20212 per cent; last loan, per
cent.
Prime mercantile paper, 3G55 per cent.
Sterling exchange was finn, with actual bus
| mess in bankers bills at $4.S3d4831a for de-
mand and at $4.S224@4S3 for sixty days;
posted rates, $4.S3G4S31a and $4.s515; COM
mercial bills, $4.S113.
Silver certificates, 5912G6O1ac; bar silver,
595sc; Mexican dollars, 473sc At London bar
silver closed quiet at 2714d an ounce.
The total sales of stocks yesterday were
Ito SHARES, lnc4ud ng: H. p Atkinson, 5I,720
Atchison preferred, S2,720 Central Pacific,
| 81, 40 Burlington, $3.50 Louisville & Nash
vile, 2S,220 Manhattan, 1916 Metropolitan,
q, 400 Reading preferred, 7435 Missouri Pa
| cifc, $3.50 New York Central, 1920 Northern
Pacific, 10, APO Ontario & Western, "a APO Rock
Island, 14,700 Union Pacific, $500 st. Paul,
$500 st. Paul & Omaha, 1852 Southern Pa
cific, 1900 Southern Railway. 1920 Southern
Railway preferred, 1880 Union Pacific pre-
! ferred, q $50 Wabash preferred, 5,490 Paper,
1920 Tobacco, $3.50 Steel, APO Steel pre-
ferred, 1920 Peoples Gas, $3.50 Pacific Mail,
81, 240 Sugar $4,000 Tennessee C. & H.; 1890
Leather preferred 1890 Rubber, 1920 st.
Louis & Southwestern preferred, $3.50 Chi
cago Great Western.
| The stock market yesterday, except for
an initial heaviness in sympathy with Lon
don which reflected the New York closing
| Tuesday, made practically an uninterrupted
! course upward. The gains were fractional
in the general market, while the grangers
! and minor SpecialteS made substantial ad-
! vances. Investment purchases were very
| heavy and largely concentrated in the
! grangers. Early efforts to cause a continu-
! ance of Tuesdays reaction lasted but a
/ short time, as there was no evidence of i'm
! portant liquidation, and LONDON sales o.
/ 70 co. shares were we'll absorbed. CommlS-
| sion house buying was renewed, ana the
! shorts were forced TO cover III NUMBER OF
! stocks. The market was comparatively dull
! in the forenoon and then gradually Increased
! in activity and strength up to the close. The
/ feeling in London improved and there were
| some repurchases of stock for that quarter.
! st. PauIs increase of $4,000 gross for the
/ second week in January inspired more con-
tidence in that group of stocks, and there
/ was an increase of Western orders to buy
! compared with those of the last day or two.
! The possibility that Burlington might pres
entity refund some of the bonds on lower
| basis thus benetiting the stock, was much
discussed and Burlington rose over five
points. 1t was learned that no action was
taken by the Burlington directors IN Bos-
ton yesterday. Omaha rose in expectation
OF the declaration of extra dividend at to-
days meeting OF the directors, and North
west, because of the benefit which such ac-
ton would accrue to 1t, advanced 312 points.
There were various rumors as to what the
! dividend in Omaha would be. Some had IL
the regular dividend OF per cent and an
extra dividend of 112 per cent. Traders see
ing the support extended to the market, sue
CesSfully bid up prices whenever opportun-
| ity offered Sometimes it was Federal Steel,
! other times Sugar or Manhattan. In Sugar
| the gossip was that an agreement mao peeh
| reached between the American Sugar REIN
ing Company and one of it's largest rivals
| to charge the same prices on all sugars at
| all points, and then it was pointed out as
being apparently significant that some or the
! people interested in United States Glucose
] wifi identified with
gar. There were PURCHASES OF NUMBER
of the lOW-priced shares, including WABASH
| ST. Louis Southwestern preferred and Min
neapolis & st. Louis. Among the inactive
stocks which showed substantial improve
ments were Chicago 81 Great Western first
| preferred IA ana Norfolk q Western pre-
| ferred. Current rumor that Tennessee Coal
and Iron was negotiating for the sale or some
Of it's property, presumably some OF Its rall7
road holdings, was accompanied by marked
strength in that stock. Manhattan opened
off, but rallied about a point over Tuesday
| night. In respect to the rumOrs that the
/ Vanderbts or Metropolitan interests, had
secured control of the company, very large
holder of the securities stated that the ola
| management had not reached its holdings
and that the control was still in its hands.
| Central Pacific developed strength on re-
! ports that the reorganization plan was prac-'
| tically compile ted. N4 ssouri, Kansas d Iexas,
| which showed decrease in gross earnings
| for the second week in January of over
S26 600, failed to sympathiZe In the strength
| displayed elsewhere. Some strong features
| were Lake Erie e Western preferred, Read
ing and New York Air Brake The volume of
business, while greater than that of Tues
day, lacked over 10000 of reaching the mil
| lion share mark.
There was a number of important move
ments in the bond trading, conspicuous
among which was a rise of 812 in Fulton
Elevated fives and four points in Burling-
ton conve. tlbles. he general market showed
decided strength all around Total sales,
Sc, los, O00 Government bonds closed I'M
! changed for all issues.
The following table, prepared by l.. w
| Louis room IL, Board of Trade, shows the
| range of quotations;