The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-24
Sales Yesterday Were 1,G2O,612
shares, Exceeding the High Mark
in Exciting Days of 1892.
SOME SENSATIONAL GAINS
FOLLOWED BY LIVELY FLUCTUA-
TIONS AND DECLINES IN PRICES.
Remarkable Advance i'm c., c., C. & St.
L., which Rose 10 SIS Points, but
Later Lost Most of the Rise.

The dealings on the New York Stock Ex-
change yesterday reached the enormous
figure of 1,620,612 shares and the total sale
of bonds 5000, 900 The sales of stocks yes
terday were the largest in the history of
the exchange, not excepting the great record
made in 1892 during the excitement over the
Reading issues.
At New York yesterday money on call was
steady at 21243 per cent; last loan, 21a per
cent.
Prime mercantile paper, 212aSA per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4S4AG4S5 for
demand and at $4.S224Q4.S3 for sixty days;
posted rates S48315 and $4S51a CONNER
cial bills, $4.S01a@4.85.
Silver certificates, nominal at 5912G6015c;
bar silver, 5924c; Mexican dollars, 471sc. At
London bar silver closed steady at 279sd an
ounce
The total sales of stocks were 1,62O,612
shares, including: Atchison, 1850; Atchison
preferred, 1858, 22O; Canada Southern, 1850;
Central Pacific, 1900; Chesapeake & Ohio,
1885; Burlington, % ,955; Cleveland, Cincin-
natl, Chicago & ST. Louis, 6,42S; Delaware &
Hudson. 1920; Delaware, Lackawanna &
Western. 1850; Denver & Rio Grande pre-
ferred, $780, Erie 1925; Erie preferred,
1S,4O0; Illinois Central, 1895; Louisville &
Nashville, 1880; Manhattan, $3.50; Metro
politan, 3,430; Reading preferred, 13S, 500;
Missouri Pacific, 10000; Missouri Kansas &
Texas preferred, 1890; New Jersey Central,
$500; New York Central, 3O638; New York
& St. Louis, 1890; North American, 500;
Northern Pacific, 1920; Northern Pacific
preferred, 25,551; Ontario & Western, 216,1 1922
Reading, $4,000; Union Pacific, 26,700; ST.
Paul, 2S24O; st. Paul & Omaha, 800; South
ern, 57l6; Southern preferred, 10,029; Union
Pacific preferred, S1,861; Wabash preferred,
$3.50; Paper, 1880; Tobacco, $780, Steel
S1.625; Steel preferred, 1929; Peoples Cas-
IT, 600; Colorado Fuel and Iron, 5000; General
Electric, 4,647 Brooklyn Transit, 1900; Pa
cific Mail 1856; Sugar, 34,4OO; Tennessee
Coal and Iron $780, Leather 4,S60 Leather
preferred, 9265; Rubber S,4OO Western
Union ~ co., Chicago Great Western, %, 420
Speculation in stocks yesterday passed
previous high record marks, both in volume
and in prices attained. Transactions in
stocks figured for 100000 shares, and the
sales OF bonds reached $9U46,0O0. Trading
was furious at the opening ana the highest
prices Were reached IN most stocks on the
initial bulge, with advances of 5 to 10 points
in some cases. There were subsequent vio-
lent breaks enormous realizing OF prof.
it's he market then became quieter until
another exhibition of strength III the after
noon, when the coalers and Gould stocks got
to the best. The bank statement. which
seemed to assure easy money, was the
handspring in the markets strength. Lon
don opened firm, but declined on operators
taking profits and then steadied on curb
transactions. The extent of the public's
| interest in the market was reflected by the
congestion of business on the Stock EX-
change and in the commission houses. For
instance, it was announced to brokers'
customers to-day that all orders would be
taken subject to delay, as their representa-
tive on the floor was unable to attend to all
of their business and that floor brokers were
ref inc
hands than they could execute. 1t was the
usual thing TO refuse to accept stop-loss
guarantee their execution. AS an
incident conveying an impression
of the extent of the early advance
was that a customer that had given an
order to sell block Of an active issue re-
ceived $4,000 more than the order called
for, owing to the violent rise While the
order was being executed. Large operators
were believed TO have realized heavily IN
the early dealings but there was said TO be
considerable taking back IF stock in the
afternoon that had been sold carrier, and
round amounts Of stock were covered by the
traders. Some of the more sensational
movements were an advance of 1928 in Pitts
burg Cincinnati, Chicago d 81. Louis &c e,
q decline of Is and a net gain Of AZ. Car2da
gained 31a c., c., c. & St. l.. rose S1a
dropped points and closed within one Of
fell back 5L and ended with a net loss of
B. Manhattan rose fractionally, broke
points. rallied Az and closed 7s up. AT one
extreme advances in the following stocks,
not previously enumerated: Reading first
preferred, IA seconds, 3; Pennsylvania,
615 Twin City Rapid transit, ga Ontario
& Western, 5$s; General Electric, Az Lack
awanna, AZ; American Malt, AZ; Lake
Shore and New York, Chicago & ST. Louis
first preferred, each; International Paper,
4A; New York Central, Az; ST Louis & San
Francisco second preferred and Delaware
& Hudson, each, and Northwestern and
Western Union, pa. After the early rise the
heavy selling movement dropped prices rap
idly, Brooklyn Transit, Union Pacific, st.
Paul. New York Central and many other
stocks yielding from to points. The
market became dull in the afternoon, but
livened up later under the leadership of the
coalers. Enormous purchases of Reading
carried the price up IA and other coalers
We're lifted from IL to AZ The movement
spread to Ontario & Western which jumped
5$4 on transactions of over 100000 shares.
The belief seemed to be that the company
were said to exist in the anthracite coal
trade. 1t was said that a plan for har-
monizing the conflicting interests in the
trade had reached a preliminary stage.
Changers were rather quiet in the after
noon. Speculative interest centered in the
specialtes. Notwithstanding the undertone
closed notably lower. The more prominent
We're Union Pacific preferred, Omaha, Fed
eral Steel Brooklyn Transit. Consolidated
Gas, New York Central and Glucose which
were off from l to rs, while New York Air
Brake suffered a loss of ga. The strength
in Pittsburg, Cleveland Columbus q st.
Louis was said to be founded upon con-
fdence that the legal position of the minor
ity stockholders would lead to the begin
ming of dividends within a comparatively
short time or in the sale of the minority
holdings in blocks. The extraordinary squirt
in Cleveland Cincinnati Chicago e. St.
Louis was on a statement that the Wander
bilts had acquired the property. In some
quarters the denial of the reported plan of
the controlling interests in New York Cen
trail as far as they relate to other railroad
properties We're regarded as technical The
market closed strong.
Railroad bonds showed considerable
strength during the forenoon and record
prices were obtained in many issues. In
the subsequent dealings the market dis
played considerable irregularity which con-
tinued to the end. United States old tours,
coupon, and the f1ves. coupon, advanced "a
in the bid price.
The following table, prepared by L. w
Louis Room H. Board of Trade, shows the
range of quotations:
Open High Low Clos
ing. est. est. ing.
Atchlson .-...-............... 24es 24A % 233s
Atchison preferred ......... 65% GA 62Ia 63st
Baltimore & Ohio .......... -. -. -. 6S1s
Canada Pacific ............. -. -. -. S5is
Canada Southern ........... 81 20 50 GO
central racine ........+..-. -. AIS
Chesapeake a Ohio ........ 27A ?7A y u.s.
Shicago y Alton .+......t.... 1851.
c., B. q .................140la 1i1,4 1855 1872