The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-31
STOCKS LEFT OFF FIRM
MOVEMENT IRREGULAR, WITH CLOSE
HIGHER on AN AVERAGE.
RumOred Resignation of Big Four
President Caused Weakness
Local Trade Active.

At New York. yesterday, money on call
was steady at 21zq3 per cent; last loan,
per cent.
Prime mercantile paper, 21zQ31z per cent.
Sterling exchange was firmer, with actual
business in bankers bills at $4S514 for de-
mand and at AS2%d4S3 for sixty days.
posted rates, $4.S312 and $4.S515; commercial
bills, $4.S21k.
Silver certificates nominal at 591496Ol5c;
bar silver, $3.50; Mexican dollars, 471sc AT
London bar silver closed steady at 27 7-16d
an ounce
Total sales Of stocks amounted to 100000
shares including 1855 Atchison, JO,SOO
Atchison preferred, $500 Central Pacific,
$40 Chesapeake & Ohio, 1880 Burlington
$500 Great Northern preferred, 22,215 Louis
vile Nashville. 1925 Manhattan 6,553
Metropolitan, 13,11O Reading preferred, 1925
Minneapolis & st. Louis, 14OOO Missouri Pa
cific, 5000 Missouri, Kansas & Texas $1,000
Missouri. Kansas & Texas preferred, Alps
New York Central, 2,955 Northern Pacific;
9675 Northern Pacific preferred, 1915 On
tario & Western, 1890 Reading, $500 Rock
Island, 26,405 st. Louis & Southern pre-
ferred, $3.50 Union Pacific. 39,417 st. Paul,
Al, $50 Southern Pacific, 1920 Southern, 209S5
Southern preferred, 1O,025 Texas & Pacific,
1850 Union Pacific preferred $685. Wabash
preferred, $3.50 Wheeling & Lake Erie, 1888
Paper, 27,1OO Cotton Oil, $500 American
Spirits S1,120 Steel, $500 Steel preferred,
1928 Peoples Gas, 10,3O3 Brooklyn Transit,
20,SS3 Pacific Mail, 54,32O Sugar, 1850 Ten
nessee Coal and Iron, 400 Leather pre-
ferred, 1000 Rubber. 7,467 Western Union,
16,242 st. Louis Southwestern %, 079 st. Louis
Southwestern preferred 1885 Chicago Great
Western.
The movement in stock prices on Change
yesterday was extremely variable and after
alternate strength and depression the mar
ket left off firm, with mixed changes aver
aging above Saturdays final quotations.
The supply of money continued abundant
at reasonable rates, and was unaffected by
February dividend and interest require
ments. Gold to the amount of $4,000 was
engaged for import and cable advices were
that three and a half million dollars of gold
have been purchased in London for Ameri-
ca. The periodical railway earnings re-
ports that appeared were gratifying. The
volume of business was again over million
shares, and because of the continued ac
tVlty or the market a number of commits
sion houses now work employees in shifts.
London was a purchaser on balance to-
day, particularly OF Northern Pacific and
Readings and sold Union Pacific and Louis
Vllles There was considerable shifting of
commission house accounts from one stock
to another with a preponderance of buying
orders which for a time more than offset
the attacks of the reactionists Sugar was
actively traded in and lifted on some
rumcred arrangement with the glucose
sugar refining company. AT the same time
there were denialS from various sources of
prospective agreement with local rival
companies. Disclosures made by the Pitts
burg, Columbus, Chicago & st. Louis minor
fty interest were continued as favorable and
resulted in sharp advance in the stock,
part of which was lost on realizing. Gossip
had it that Northern Pacific was in con-
troll of the party in favor of larger divi
dends, and that the stock was receiving
pool support Unconfirmed stories of the
likelihood of the resignation of the presi-
dent of the Cleveland, Cincinnati, Chicago
& st. Louis weakened that stock some
what. Consolidated Gas jumped eight points
on assertions that a partial union of the
gas interests on Manhattan island had been
effected. Other sensational advances were
those of Tennessee Coal and Iron preferred,
10; Great Northern preferred, IA, and Colo
RADIO Fuel and Iron, 5. RealtZationS and re-
neWed bears aggression brought about
heaviness. but strength in the specialtes
and the Southwestern group steadied the
market, which resumed its upward course.
The grangerS, after periods of inactivity,
rose moderately Western Union and Read
ing issues were also lifted Profit taking
again encouraged smart raid on values,
effecting numerous declines. General re-
cOVerieS ensued In the final dealings and the
market closed firm.
The bond market developed considerable
irregulartty, but the variations for the most
part were unimportant outside of Texas Pa
cific seconds and St. Louis Southwestern
seconds. Total sales, Sc $4,000. United
States hves, registered, declined Is and the
fveS coupon Il in the bid price.
The following table, prepared by L. w.
Louis, Room IL, Board of Trade, shows the
range of quotations: