The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-04
STRENGTH IN STOCKS
EARLY WEAKNESS OVERCOME AND
MOST SHARES CLOSED HIGHER.
Supporting Factors for the Changers
and SpeciaIties-LOcnI business
Opens Quiet.

At New York yesterday money on call
was firm at 304 per cent; last loan, 8.
Prime mercantile paper. 3G3s4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4.S4AQ4.S4115
for demand and $4.S1azG4.S2 for sixty days;
posted rates, $4.S21a and $4.S515; commercial
bills, S4S1.
Silver certificates. 591z@6O1zc; bar silver,
SOC; Mexican dollars, 1850. At London bar
silver closed steady at 271sd an ounce.
Total sales of stocks, 1856. 400 shares, in
Guiding: Atchison, 3S46; Atchison preferred,
1890; Central Pacific, 5000; c. e. o., 1900;
c., B. & O., 12.250; Chicago & Eastern IlH-
nois, $3.50; Great Northern preferred, 3,143;
Illinois Central, 3178; L. & N, 1880; Man
haitian, 1890; Reading preferred $500; Mis-
souri, Pacific, $3.50; NJ, X. & T. preferred,
1910; Northern Pacific, $780, Northern Pa
ciic preferred 1920; Reading, $500; Rock
Island 13 800; Union Pacific $3.50; ST. Paul,
IS $50; Southern Pacific, $3.50; Southern pre-
ferred, APIS; Texas & Pacific, 1880; Union
Pacific preferred, 24,65O; Paper, 1857; Amer
lean Spirits, 1906; Tobacco, 6,720; Steel pre-
ferred, 9O,825; Peoples Gas, II, $50; Colorado
Fuel and Iron, 1885, Pacific Mail 1902; Pull
man, 1902; Sugar, 1856; Tennessee Coal and
Iron, 9,4O0; Rubber, 1920; Western Union,
1920; Chicago Great Western, 6,780.
The New York stock market was irregu-
lar yesterday, but left off strong, with frac-
tional gains in most shares, with a larger
advance in other stocks where interest
largely centered. Initial prices were gen
orally higher, but subsequently. the course
of speculation was somewhat reactionary,
and London sold some 10000 shares, partly
on the Philippine incident and renewed talk
- ho+u ,1ryIay ND
Prof1t-talking sales caused some of the rail-
ways to recede from the early best figures,
New York Central being especially weak,
although it subsequently recovered most of
its loss American Steel and Wire shares,
after opening at improvements, were raid
ed, and the common declined five points
while the preferred lost sixteen and then
rallied three and one-half and twelve points,
respectively. In the afternoon rise there
was an increase in the volume of trading.
The favorable November statement of
Louisville started an upward movement in
that stock of "a and better tone spread to
the rest of the list, Reading, Federal Steel,
Pullman and American Spirits each in turn
becoming strong. Pittsburg, c., G. & st.
L., Western Union and Kansas & Texas
preferred also displayed strength. Improve
ment in the anthracite trade because of the
cold weather was assigned as reason for
the rise in these stocks, although the adj
vance in the price of coal predicted for the
beginning of the year failed to materlal1ze.
The increase in east bound shipments and
the rumored restoration of trunk-line rates
were supporting factors in the stocks con-
cerned. Money displayed a somewhat hard
ening tendency, the range being from to
per cent, closing loans at the lesser figure.
This advance in money was without appre-
ciable effect on stocks, which closed at about
the best in many cases. American Sugar
Refinery was hammered from time to time
on the unsettled conditions of the trade and
lost per cent.
Railway bonds forged upward on heavy
purchases: total sales, &c. 900. United
coupon, advanced Il in the bid price.
The following table prepared by l.. W.
Louis, Room II. Board of Trade, shows the
range Of quotations: