The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-11
WALL-STREET RECORD
STOCK SALES OVER A MILLION TWO
DAYS IN SUCCESSION.
Speculation for the New Year Prom
Uses to Smash All the Forecasts
Local Markets Fairly Active.

At New York yesterday money on call was
steady at 2ha2ls per cent; last loan, 212.
Prime mercantile paper, 3Q3% per cent.
Sterling exchange was strong with actual bust
| ness in bankers bills at $4s414Q4S4& for de-
mand. and at s4S2@4.s2A for sixty days posted
rates, $4.s3 and s4S5ls: commercial bills. $4.s1.
Silver certificates. 591aQ601Ac; bar silver. 59ac;
Mexican dollars, 469sc. AT London bar silver
closed steady at q 5-16d an ounce.
Total sales of stocks 1000 500 shares including
$3.50 AtchisOn, $3.50 Atchison preferred, $500
Central Pacific $3.50 Chesapeake & Ohio. 100
Burlington 1885 c., c., C. & St. L. $685. Den
yer & Rio Grande preferred. S,345 Erie preferred,
5.19O Great Northern preferred, S4,455 Louisville
&. Nashville, 1850 Reading preferred, 44670 Mis-
souri, Pacific o. 37 Northern Pacific $3.50 North
ern Pacific preferred. 12,27O Reading. 1880 Rock
Island, &c. 800 Union Pacific So $40 ST. Paul. Is .5S7
Southern, S0.3l0 Southern preferred, 1900 Texas
& Pacific, 1850 Union Pacific preferred, 4,2OJ
Wabash preferred. $500 Wheeling & Lake Erie,
10 700 Tobacco, 2 200 Steel 6,400 Steel preferred,
10000 Peoples Gas, $500 Colorado Fuel and Iron,
S.133 General Electric, $500 Pacific Mail, $500
Rope and Irvine, $500 Sugar, 300 Tennessee
Coal and Iron, 1900 Leather, 800 Leather pre-
ferred, $500 Rubber, 1890 ST. Louis & South
west preferred, 6,545 Chicago Greatwestern.
Owing to the large volume OF transactions the
| New York Stock Exchange committee yesterday
ordered that until further notice odd lots of
ticker or be printed on the Stock Exchange list.
Monday, for the first time in recent years. a sup
| pement was issued to the regular Stock Exchange
| list the usual form was too small to carry the
| transactions.
! For the first time in the history of the New
| York Stock Exchange there has been trading in
over million shares on two successive days,
| yesterday being the fifth million-share day in
| fifteen years. Practically all the railroads, ex-
Afpt1i
at some time during the day. In the late selling
movement. when the specialties hammered,
some of me advances were lost and in special
| cases, as in Missouri Pacific and Kansas &
| Texas preferred, the entire gain was wiped out.
| Most of the grangers touched the highest prices
| yet reached in the current movement The most
! conspicuous advances among the railways were
| those of Great Northern preferred, which made
an extreme OF 81; Manhattan over 5 and Read
ings each. The extreme rise among the spe-
oialties that OF New York Air Brake, 1OIa
| while Standard Dstilling, Standard Rope and
| Twine and Bay State Gas were very strong.
| Sugar Tobacco Federal Steel. American Spirits
| and La Clede Gas lost ground. There a tone
of confidence at the opening, although there was
| evidence of much foreign and domestic realizing.
| which in spots brought recessions, which, how
| ever, were generally quickly recovered. The
| prices of international stocks were shaved
/ dilN IL was estimated tlaL LONDON SOid 60,WO
shares, most Atchison while there were some
purchases from that quarter Of Chesapeake &
| Ohio and Southern Railway. Altogether it is
| estimated that the arbitrage business of Monday
| and yesterday footed up to 900 shares
| High grade bonds were sold for continental ac-
| count. Local New York traders and commission
| houses considerable purchasers of some
| stocks, while they realized on others. Favor
able forecasts of probable action on the Louis
ltriIIc 1;v-fI1
stock. 1t was said that the New York Air Brake
! Company had secured the contract for equipping
| in part at least the New York Central Railroad
with air brakes, and to this may be attributed
! the sensational rise of the Air Brake stock.
| Much attention was given to other specialties
| and the low-priced railways. The rise in Man
| haitian was accompanied by the story that the
| money for equippng the road with electricity
| had been raised, and that the Walker Company
would get the contract At one time some SELL
| ing resulted from talk that the banks were using
| extraordinary discrimination in making loans on
collateral. But later interviews with bankers were
| disseminated. tending to show that liberal terms
| were offered proper loans. California ship
| ments of money to New York, which had con-
| siderable influence on the market last week. were
| said to be continued. Some of the more irnpor-
tant interests in the street prominent buyers
after early reaction. These purchases were
| largely confined TO the grangers. This
companied by realization in other quarters
Of the market The advance in General Electric
| was said to be on progress made in negotiations
! for consolidation with the Westinghouse Com
! pany. Federal Steel heavy and less prom
! inent than usual in the days business
| Transactions in bonds were almost 49, 900 900
| below Mondays total and there is also an
! absence OF the violent upward movement. Profit
| taking was evident in some of the minor specula-
| tive issues, but high-grade mortgages We're well
maintained and advanced generally. Total sales.
| s5570000 United States tours, the old fours
| registered, and the f1ves, registered declined "a
and the threes Is in the bid price. The hves
| coupon. advanced a.
The following table, prepared by L. w Louis
! Room II, Board Of Trade shows the range of
| quotations.: