The Indianapolis journal., 1899-02-16
LIVELY DAY IN STOCKS
NUMBER OF NOTABLE ADVANCES AND
SEVERAL DECLINES.
A Rush for Northern Pacific Shares
and n Falling on I'm Burlington
Local Markets Doing Better.

At New York yesterday, money on call
was steady at 21zQ3 per cent; last loan, z15
per cent.
Prime mercantile paper, 294QSA per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.86@4S6A for
demand, and at $4.s4G4s414 for sixty days;
posted rates $48413G4S5 and S4S613Q4S7;
commercial bills, $4.S3q4S31a.
Silver certificates nominal at 59G6015c; bar
silver, $3.50; Mexican dollars 474c. At
London bar silver closed quiet at q 7-16d an
ounce
Total sales of stocks reached 612 100 shares,
including 7,4OO Atchison, ,S2O Atchison pre-
ferred, 800 Central Pacific, S492O Burling
ton, 3,210 Erie preferred, $500 Manhattan,
| $500 Reading preferred, 3,4O0 Missouri Kan
sas & Texas preferred. S4.6OO New York
Central, 1890 Northern Pacific, 1O,4OO
Northern Pacific preferred, $500 Union
Pacific, $500 st. Paul, 1880 South
ern Pacific 4,SOO Southern pre-
ferred, 9,AO Texas & Pacific, $500 Union
Pacific preferred, 1920 Tobacco, $500 Steel,
3.145 Steel preferred, 1888 Brooklyn Transit.
S,9S5 Sugar, $500 Rubber, 7,1O0 ST. Louis &
Southwestern preferred, 1856 Chicago Great
| Western.
Many stocks were materially advanced on
the New York Stock Exchange, yesterday,
with dealings considerably larger than on
Tuesday. Generally the early 1arket was
more animated than of late, and strength
developed on commission house buying.
London sold about 10000 shares Of stock,
principally Northern Pacific, while Berlin
was reported as being a purchaser OF this
stock. Northern Pacific common in the
local market received pronounced support,
| apparently on pool buying and on large
! dealings advanced three points. Around %,
| at which point London was selling enorm-
| ously, stocks were absorbed, although the
price hung for long time at 533s. The
| advance in this stock progressed in spite
! of the dissemination Of a report that the
| officials of the company denied that the pre-
! ferred stock would be retired or that such
a. project had been considered. AS North
| ern Pacific common was the feature of
strength, so was Burlington prom
| inently weak. This stock which
was advanced yesterday in an
ticipation of action on the part Of the
| Burlington directors on a refundng scheme
opened unchanged, developed weakness and
made an extreme decline of over three
! points. The lowest figure was on the an
nouncement that nothing had been done re-
| garding refunding at yesterdays meeting in
! Boston. This brought the large realizing
| sales but the stock recovering left it's net
decline only two points. The weakness of
| Burlington had little effect the other
grangers which displayed more or less
strength at intervals. The high-priced in
vestment shares we're conspicuously strong,
especially New York Central and Penn
| sylvania. Southern Pacific and Central Pa
| cffc developed pronounced strength, espe-
cially toward the close. New York Air
brake which has been rather neglected of
| late. made a sensational advance or 1914.
| There was considerable covering of short
| sales by traders while stock was supplied
| by houses with Boston and Chicago con-
| nections. There were some sharp recesSiOnS
| during the afternoon at the time when
| Burlington and Sugar were freely offered
down, but prices picked up and continued
to improve to the close. the leader in the
| recovery being Northern Pacific common.
! Union Pacific and Atchison preferred were
| decidedly firm 1t was intimated in the
street gossip that a script dividend to
| street railway stockholders, to be subscribed
| at par was In contemplation, but the stock
| was quiet all day and moved very mar
| rowly
A brisk inquiry prevailed for some of the
| prominent bond issues, but the market gen
| orally displayed improved tendency.
| Total sales $3970,000. United States new
fours regular, and the old fours, coupon,
| and the fves, coupon, advanced Is in the
bid price.
The following table, prepared by l. w.
| Louis, Room II, Board of Trade, shows
| the range of quotations: