The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-28
THE DEMAND CONTINUES
STOCKS RECOVER FROM A SLUMP
AND CLOSING PRICES HIGHER.
News from Manila Caused n Tenn
pOrary Decline That Was Soon Re-
cOVered-LOcaI Markets Steady.

At New York, yesterday, money on call
was steady at 21ka3 per cent; last loan 3.
Prime mercantile paper, 21zGI3 per cent.
Sterling exchange was firm with actual
business in bankers bills at $4.S4%G4.S5 for
demand and at $4S2s4a4.S3 for sixty days;
posted rates, $4.S31a and $4S512; commercial
bills $4.S2.
Silver certificates were nominal al $500
601ac; bar silver 59Ac; Mexican dollars 47c.
At London bar silver closed weak at 27&sd
an ounce.
Total sales of stocks were ,O32, 100 shares,
including: Atchison, 5000; Atchison pre-
ferred %, $40; Central Pacific, IA, 730; Chesa-
peake & Ohio, IL, 500; Burlington %, 600; Cleve-
land Cincinnati. Chicago & St. Louis, 200;
Illinois Central, 1875; Louisville & Nashville,
%, 400; Manhattan, 22,6i0; Metropolitan, $3.50;
Reading preferred 15 173; Missouri Pacific,
1880; New York Central, 1900; North
American, 1890; Northern Pacific 23745;
Northern Pacific preferred 1902; Ontario &
Western l1,412; Rock 81 nd, 46,49; St Louis
q Southwestern, 1850; ST. Louis & South
western preferred $780, Union Pacific,
%, $50; st. Paul, "A, $780, Southern Pacific, TO-
$40; Southern Railway. 49, 125; Southern Rail-
way preferred. 1886; Union Pacific pre-
ferred. 44,945; Wabash preferred, $3.50;
Lake Erie preferred, 5000; Paper, $500; Cot
ton Oil, 1880; American Spirits, 1900; To-
bacco. 400; Steel, 22,9OO; Steel preferred,
1920; Peoples Gas, e. 400; Colorado Fuel
and Iron, $780, Central Electric, 1850;
Brooklyn Transit, 20 400 Pacific Mail, 1890;
Rope and Irvine, $40; Sugar, $4,000; Ten
nessee Coal and Iron, 40,S79; Leather, 5234;
Leather preferred $3.50; Rubber b. 425;
Western Union, $500; Chicago Great West
ern, 1920.
The changes as a result of yesterdays
trading in stocks were rather mixed, with
gains predOminating. The market opened
WlIh hesitancy but this was speedily DIS
Slpated by in1uX OF buying orders and
the market started up under the influence OF
strength in the low-priced specialties and
STANDARD STOCKS. London was a free seller
shares, which encouraged the room traders
10 put out large snort lines to check the
rise. COMMISSION houses had a large VOI-
ume OF buying orders well distributed
thrOus nout the list, which forced the bears
to take back stocks after etfecting only d
slight relapse IN the markets strength.
Prices were forced up under the leadership
of the Flower syndicate, including Rock
Island, Peoples Gas and Brooklyn Transit
The low priced stocks were then taken in
hand. Tennessee Coal and Iron moved up
80; American Spirits preferred, 2; WheeI-
ing d Lake Erie preferred, Az; first pre-
ferred when issued 4; indianapolis x Lou
isVile preferred g. and Pacinc Mail, rs.
Among the speclaltieS there were advances
of rs IN Rubber and in Sugar, while Met
ropolitan moved within points. There was
an average rise OF over point In the
grangers except Northwestern. The largest
rise III this group was that of Rock Island.
13sc The coalers, Morgan stocks and
Cleveland, Cincinnati, Chicago a. ST. Louis
We're quiet. Long Island jumped "a and
Norfolk a. Western preferred, on large
transactions advanced 112. The move on
the latter was attributed to talk of an i'll
crease in the dividend rate. Lake Erie Il
Western and Chicago Great Western, pre-
ferred "A" rose in the neighborhood of 2
points. The news accompanying the adj
vance included the favorable report of the
Senate commerce committee on the steam
ship subsidy bill, which benefited Pacific
Mail, together with an explanation that the
new beet sugar company would not invade
the American Sugar Refining Company
territory and Il number of favorable trafic
sta tements, including those of Northern Pa
cifc and Southern Railway. Reading and
Wabash December net changes, however,
We're decreases. The Lackawanna annual
report, showing a deficit after dividends of
over a half million dollars, was without
notable effect on the stock only one trans
action appearing after the publication of
the report. The denial of the rumOred New
York Central'S tranScOntinental plans was
which subsequently rallied, closing fraction
ally off for the day. In the late afternoon
there was a vigorous bear raid, which
duced prices from l to points on news
agency bulletins of Aguinaldo's proclama-
ton of the Philippine republic being estab-
liShed. The stocks offered were presently
the close. Transactions were i'm excess of a
million shares, as ON other days this week.
Considerable irregularity prevailed in the
bond market with the active issues favoring
a downward course. Total sales &C. 200
Bid quotations for government bonds were
unchanged
The following table, prepared by l.. w
Louis, Room II, Board of Trade, shows the
of QuOtatiOnSs