The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-27
HEAVY STOCK BUSINESS
SALES OVER A MILLION AND A HALF,
SECOND LARGEST IN HISTORY.
Notable Gains I'm All Securities and
Firm Closing with Everything i'm
Demand-LOcaI Trade Steady.

At New York. yesterday, money on call
was steady at 214@S per cent. last loan,
per cent.
Prime mercantile paper, 212a3 per cent.
Sterling exchange was frmer, with actual
business in bankers bills at $4.S412G4.S5h for
demand and $4.S215@4s2A for sixty days;
posted rates, $4.S315 and $4.S5la; commercial
hills $4.S204S2h
Silver certificates nominal at 591ad60l5c;
bar silver. 59Ac; Mexican dollars, 47e. At
London bar silver closed quiet at 273sd an
ounce.
Total sales of stocks were 1853, 800 shares,
including: Atchison, 27,45O; Atchison pre-
ferred, 1920; Canada Southern, 5,S25; Cen
trail Pacific, 1880; Chesapeake & Ohio 49,
620; Burlington, 20,620; Chicago 81 Eastern
Illinois, 3,400; Cleveland, Cincinnati Chicago
& St. Louis, 1861; Cleveland, Cincinnati,
Chicago & St. Louis preferred, 3,710; Denver
& Rio Grande preferred 1O,470 Erie pre-
ferred, 1000; Illinois Central, 800; Lake
Erie d Western, 5,S25; Louisville & Nash
vile, az, 700; Manhattan, 22,175; Metropolitan,
$4,000; Reading preferred, 27300; Minnesota
& ST. Louis, 400; Missouri Pacific, 22,900;
New York Central, q, 299; Northern Pacific,
1900; Northern Pacific preferred, 81, 40; On
tario & Western, 1856; Rock Island 23,625;
St. Louis & Southwestern, $500; st. Louis &
Southwestern preferred, 1920; st. l.. & s. w.
second preferred, 1900; Union Pacific,
80 420; st. Paul, 81 400; Southern Pacific, 1900;
Southern Railway, $780, Southern Railway
preferred, 42965; Union Pacific preferred,
40,33S; Paper 4,GC0; Cotton Oil, 5000; Tobac-
co, ALSO; Steel 1920; Steel preferred Sc, 72O;
Peoples Gas, $3.50; Colorado Fuel and Iron,
4,4OO; General Electric $3.50; Brooklyn Tran
IN. no C-n.
Sugar, 1920; Tennessee Coal and Iron AZ
500; Leather, 500; Leather preferred 1850;
Rubber II, 700: Western Union, 1870; Rio
Grande q Western preferred, 1900; Chicago
Great Western, "a 1856
Stocks made substantial progress yester-
day, till the closing dealings, when there
was the usual protit-taklng accompanied by
vigorous selling for the short account which
sent prices down an average of about
point, but leaving fair gains for the day.
Transactions were in excess of a million and
half being the second largest day in the
history of the exchange. Expectations of
an early settlement of the peace treaty
and the trmness of Americans in London
were important features in the markets
strength. The unrest in the Philippines was
passed unnoticed, and had no appreciate
effect on trading. The grangers made eX-
IRENE advances of from l to 29sc the latter
In st. Paul on its showing of net Increase
for December of $336,000 Northern Pacific
and Union Pacific displayed strength, al
though the latter eased off considerably on
suspended for the present. Other railways
displaying special Strength were Reading
and Southern preferred. Among the inactive
shares, ST. Louis & Southwestern preferred
and Minneapolis d ST. Louis were features
of strength, while Long Island use points,
and st. Louis q San Francisco first pre-
ferred advanced sac and over 3 points for
the common and second preferred. Metro
pOlitan continued its sensational advance of
yesterday, jumping ia to 220A, but in the
final dealings reacted to 217R Among the
Flower stocks, Brooklyn Transit, Peoples
Gas and Federal Steel preferred, at "ne
time, made notable gains. Sugar Glucose,
Rubber, Pacific Mail and Tennessee Coal
and Iron were likewise strong features
among the specialties. A number of low
priced stocks moved up sharply. The ease
of money, which is the backbone of current
high prices, is shown by the quantities of
funds offered for long periods on exception
ally easy terms. 1t was reported that mon
ey had been offered at per cent. for a year
and that large sums were being received
from all parts of the country in New York.
Unemployed balances in considerable sums
were loaned to representatives of foreign
days. Northern Pacific and Chesapeake 81
Ohio were purchased for London account,
while some American securities were traded
in both ways. number of commission
houses did the largest business that they
had executed in many years. Their pur-
chases kept the traders on the long side
until the final dealings.
The feature of the bond trading was the
extensive demand for the middle grade is
sues, which found a ready market at adj
strong throughout, with the demand en-
bracing a large variety of issues Total
sales, $7,4OO,OO0. United States government
bonds are unchanged in bid prices.
The following table, prepared by L. w.
Louis, Room II. Board of Trade shows the
Of limitations.