The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-26
HAD STRENGTH in SPOTS
sPAsMODIC ADVANCES IN YESTER-
DAYS wALL-sTREET TRADING.
Market Fluctuated Broadly, but Tend
ed to Higher LeveIs-New Indus
trials Were Weak Exceptions.

At New York yesterday money on call
was firm at 5Q7 per cent; last loan was
per cent; prime mercantile paper, 5q51a
per cent
Sterling exchange was firm, with actual
business in bankers bills at s4.s7 for de-
mand and at A.sS for sixty days; posted
rates were s4s4a4. S41a and s4.SS@4 ssh; COM
mercial bills were s4.S2A.
Silver certificates were 5si4Q59; bar sill
yer was 577sc; Mexican dollars were 47Ac.
Bar silver at London was quiet at 26ssd
per ounce.
Yesterdays movement of prices in Wall
street was irregularly upward for the rail-
road stocks, while many Industrial stocks,
especially of the more recently organized
companies, showed symptoms of weakness.
The movement of the market was by pulsa-
tions. first one and then another group of
stocks taking up the advance. There was
no time during the day when the general
level Of price kept at the top, the prices
in one group giving way by the reaction
before the advance was taken up by the
other. Many stocks were sluggish through
out the day. Prices generally gave way
after o'clock under the pressure of realiz-
ing In the Leather stocks, which had been
the center OF the speculation all day. The
earlier gains were wiped out in numerous
instances in this reaction. The aggressive
advance OF the coalers checked the decline
and rallied the market. but not to the top
level. The market closed with a brilliant
advance In the coalers still in force, but
with the tendency irregular elsewhere in
the list The net gain in the coalers went
all the way from a point in the minor
members of the group to Az In New Jersey
Central. Dealings i'm the Leather stocks
were again on an enormous scale. the COM
mon rising at one time to - and the pre-
ferred to s2ss. Other points of individual
strength were Sugar, the Southern group of
railroads the southwestern group. Iowa
Central preferred. Ann Arbor preferred,
Great Northern preferred, Anaconda and
The market opened with a show of strength,
reflected from London. where the fortnight
ly settlement developed quite large bear
bought here as many stocks as were sold
for that account Tuesday. Heavy realizing
met the advance and the local traders were
inclined TO the bear side. They had some
assistance from the positive weakness of a
number OF stocks in the industrial list.
Stocks having to do with the metal indus
tries were all heavy and Pullman. General
Electric and Laclede Gas declined sharply.
OF stocks of the more recently organized
companies, American Hoop preferred, Union
Bag preferred and American Mating pre-
ferred dropped from TO points on small
transactions. Tie continued stiffness OF the
money rate, which ruled at per cent. or
above. was a discouragement to the bulls
The sudden drop to per cent late in the
DAY, though not OF much significance as
al liiuCA VI dCludl COuulllO0S, nelpeQ on the
late rally In stocks. The recovery in sterling
exchange, In view of the hardness of money
here, and the drop In the discount rates
IN London Is difficult to explain. especially
London IN this market There was some
growth OF the demand for stocks through
commission houses in addition TO the large
operations FOR account of influential spec
ulative combinations. An analysis of the
days changes discloses however, that the
strength OF the market was decidedly
spotty.
There was a good demand for bonds at
generally higher prices. Total sales at par
value. were s2.ll000o. United States tours.
regular, advanced u. and new. coupon, y
in the bid price. "
Following are the days share sales. with
the closing bid prices.