The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-06
MORE GAINS IN STOCKS
MOST OF THE NEWS WAS OF Ma
TURE TO ENCOURAGE BULLS.
SpeciaIties Were Particularly Buoy
Local Trade Active.

At New York yesterday money on call was
steady at 24@3 per cent; last loan. 2A per cent.
Prime mercantile paper. Sd394 per cent
Sterling exchange was steady, with actual bust
ness in bankers bills at $4S4A94.s41s for demand
and at S4.s1%94.s2 for sixty days; posted rates.
$i.s2ls and ~.S51z commercial bills s4.S0&@4S1A.
Silver certificates. 5911q60Ac; bar silver, 59c;
Mexican dollars, 1880. At London bar silver
closed at 27kd ounce.
Total sales Of stocks were 915.7OO shares, in
Guiding 4.675 Atchison, $50 Atchison preferred,
! $40 Central Pacific, 3.449 Chesapeake & Ohio.
6.6s3 Burlington. 1850 Hooking Valley, 49,
Louisville & Nashville. 1880 Manhattan 10 92l
Reading preferred. 12.4So Missouri Pacific 1850
Missouri. Kansas & Texas preferred. 500 North
Pacific, $3.50 Reading. 2S12 Rock Island. r. 120
Union Pacific; 1890 st. Paul. 5000 Texas &
Pacific. 1920 Union Pacific preferred. 1925 Union
Pacific, Denver & Gulf 11.7OO Wheeling & Lake
Erie, $500 Paper. $500 American Spirits 81 300
Tobacco. $500 Steel 1850 Steel preferred, 1880
Peoples Gas, 300 Colorado Fuel and Iron, S7S5
General Electric. 4s0O Pacific Mail 22,15O Sugar.
$3.50 Tennessee Coal and Iron, 372O Leather pre-
ferred. 4S7O Rubber $500 Western Union, 12,40O
ST Louis & Southwestern preferred, lilo Chi
cago Great Western.
Notable gains were recorded in the specialtes
and railways New York Exchange yes
terday. The announcement of gold engagements
of a million and a half overcame the reactionary
tendency of the forenoon and set the market
forging upward which continued to the close.
The conditions of the exchange and money market
DO not seem to warrant the expectation that the
import of gold will be a sustained movement.
the theory being that large balance of trade
would not be drawn largely while money
be loaned at more profitable rates abroad.
lower range of London prices gave declining
tendency to early transactions here Manipua-
tiOn Of he sueciaI tes-TobaccO. BrOOIvn Transit
and Peoples Gas-gave better tone to the rail-
ways. but profit-taking there some very
substantial losses. With the announcement of the
gold imports in the afternoon the bulls had
thrown away, especially in Manhattan, General
Electric, Brooklyn Transit, Pittsburg, Cincinnati
Chicago & st. Louis and Colorado Southern. The
railway shares moved rather suggishly until late
in the day. when active demand arose for
Louisville. Rock Island and the Southwestern
group excepting Texas Pacific which broke badly
| at the end. On the publication of a report that
| Manhattan Elevated to be electrically
equipped by General Electric these stocks, which
had each advanced five points, presumably
| early information of the reported deal. receded
sharply profittaking. The purchase of coal
lands in Pennsylvania by parties friendly to the
Ontario & Western, which, it inferred, would
largely increase the traffic of that road, rendered
that stock active and strong Reports of the pos
sibility of Brooklyn Union Gas increasing its dvi-
| dend rate and forming advantageous alliances
bettered the price of that stock five points There
was nothing in current to account for the
rise in Chicago Gas except talk of continued good
| business. Hooking Valley securities were weak
! the publication of the reorganization plan,
| which the movement in the companys stocks and
| bonds indicated more drastic than expected.
| The common stock dropped 12sc, the preferred T.
the per cent. bonds % and the fves TO- with a
subsequent recovery in no except the fves
which regained 312 of their earlier loss. Brooklyn
| Transit was very strong, rising 3a. Late in the
| day it said that while the contract to equip
Manhattan electrically had not been given con-
fdence had been expressed by General Electric in
terests that they would get the contract.
The bond market under pressure during the
forenoon, but in the late session heavy purchas-
| ing orders distributed which carried the
| level of prices above yesterdays close and i'm
| parted strong tone generally. Total sales.
s., 965, coo. United States tours, coupon,
| acted a and the threes u. The tours. reg
istered and the old tours, registered, advanced Is
| in the bid price.
| The following table prepared by L. w. Louis
Room II, Board of Trade, shows the range of
| quotations: