The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-11
STOCKS FIRMER AND UP
HEAVY BUYING YESTERDAY RE-
SUITED IN A QUICK RECOVERY.
One Prominent Broker Forced to
Close Out His HoIdfnRs-LocaI
Markets In Fine shape.

4 per cent. last loan. 3z per cent.
Prime mercantile paper. s14a4A per cent.
Sterling exchange was weak. with actual bust
ness in bankers bills at I.ssz for demand
and at A.s4A for sixty days: posted rates. A.SA
a. ssh and A.s71ka4sslz; commercial bills. A.s.
silver certificates. sl&q62ac; bar silver. sizc;
Mexican dollars. At London bar silver
closed dull at 2ssd an ounce.
Total sales OF stocks were l.027. $50 shares. in
Guiding: American Smelling. 1900: American
Steel and Wire, q. 100: American Steel and Wire
preferred. 1000; American Sugar. lG. 600: Amer
lean Tin-plate. 1900: American Tobacco. 1900:
Anaconda. 900; Atchison. 800, Atchison pre-
ferred. 1880; Brooklyn Rapid Transit. 1900;
Central Pacific, 1900; Chesapeake Il Ohio. 5000;
Chicago. Burlington & Quincy rights. 800: Chi
cago, Burlington & Quincy, A., 100: Chicago Trac-
ton. 800; Chicago Great Western. $500: Cleve-
land. Cincinnati. Chicago & 81. Louis. 400: Col
orado Fuel and Iron. 1900: Continental Tobacco.
$500: Continental Tobacco preferred. 300; Fed
eral Steel. ~. goo: Federal Steel preferred. l., 900;
International Paper. $500: Louisville a Nashville.
$500; Manhattan Consolidated, 30, 300: Metropolitan
street-raiiway. 1900; Mexican Central. $500;
Missouri. Kansas & Texas preferred. 1000; Mis-
souri, Pacific. 500; National Steel. 5000: New
Jersey Central. 800; New York Central, 700;
Northwestern preferred. 400: North American
Company. 400: Northern Pacific. "a. 200; Northern
Pacific preferred, $500; Ontario & Western. $500:
Pacific Mail. 400; Pennsylvania. $500: Peoples
Gas. IS. 600; Reading, 500; Reading first preferred.
"a. 800: Rock Island. IA. 200: Southern Pacific. $500:
Southern Railway preferred. $500: Tennessee Coal
and Iron. 300: Texas Pacific. Zoo: Union Pacific.
1900: Union Pacific preferred. 5000: United
States Leather preferred. 1900: United States
Rubber. 400; ST. Paul. $500.
The New York stock market moved up sharply
yesterday. although at some times considerable
irregularity appeared. Certain large interests
were open purchasers Of their speciaIties and the
absorption OF some 10000 shares by London aided
the market leaders In pushing UP their ~favorites.
In the afternoon the rspidity Of the advance in
duced the covering OF large short lines and COM
mission houses were again active purchasers.
There was no furry In the money market, the
ruling rate for call loans being 4 per cent. Ster-
ling exchange eased OF en- the large purchases
OF stock for foreign account. An element in
shaping sentiment was a rumor that the govern
ment crop report to be issued late In the day
would show an improvement Of several points
over last month st. Paul's favorable weekly
statement Of earnings was a source Of strength
to the gransers. The lower range of prices
brought about by Tuesdays decline proved at
tractive to many would-be purchasers and while
there was no important news developments. senti-
ment was completely reversed. Stocks which
were the center OF weakness Tuesday, notably
the Flower speciaities. were among the strongest
features. Brooklyn Transit rising IA and Federal
Steel and Peoples Gas about four points each.
Among the specialties there were some very pro-
nounced advances. including American Tobacco.
u: American Shelters. Us; Steel Hoop and Third
avenue, 5 each; American Steel and Wire, 3x;
Tennessee Coal and Iron and Continental Tobac-
co. 3a each. and Anaconda Mining and Manhat-
tan. 3 each The railways advanced from 1 to
3% points for active issues. Burlington scoring the
extreme rise. Metropolitan. which lost a point.
was the most pronounced exception to the general
strength In the forenoon there was considerable
commission-house liquidation. which induced GER
tain professionals 20 make q drive at the market,
but large operators absorbed offerings. two houses
taking together about 100. 900 shares. and this
turned the tide and a steady Improvement fol-
lowed. A report that the industrial commission
hearing in Washington had been postponed for
thirty days led to purchases OF the stock or some
Of the companies to be investigated. II was re-
ported that a prominent commission house. after
a consultation with the financial institutions car
rying its loans, was forced to sell a large line Of
stocks shortly after the opening and IL was on
temporarily depressed in the forenoon. Prac-
tically everything Joined In the late advances aud
the market closed buoyant at the best.
Railroad bonds participated I'm the improved
speculative temper, but advances were not ma
terial except in a few instances. Total sales.
s.. 5000 Z. United States new tours advanced Y
and the threes u In the bid price.
The following table. prepared by l.. w. Louis,
Room IL. Board OF Trade. shows the range of
quotations.: