The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-21
STRONG BOOM IN STOCKS
ACTIVE STOCKS CONTINUE TO CRAWL
UP, MAKING NEW TOP MARKS.
Another 1O-POint Advance I'm Tobacco,
with Several of the Railways High
er-LOcaI Trade Quiet and Firm.

At New York yesterday money on call was
steady at 2d2h per cent last loan, 2A per cent.
Prime mercantile paper. 2&G3A per cent
Sterling exchange was steady, with actual bust
ness in bankers bills at $4s694.s6A for demand
and at A.s4@4.HA for sixty days; posted rates.
.S41z94 .S61s and s4s7; commercial bills, 1880
4s31k.
Silver certificates, nominally, 59k960Ac; bar
silver, 59%c; Mexican dollars. 47hc. At London
bar silver closed steady at 271ad an ounce.
Total sales of stocks on Change reached LIS, 400
shares. including As, go Atchison, 144'22o Atchison
preferred, 10, $50 Central Pacific, $3.50 Chesapeake
& Ohio. $500 Burlington, 800 Chicago & Eastern
Illinois, 1925 Illinois Central, $500 Louisville &
Nashville, 42,4 Manhattan. 1920 Metropolitan,
19, 100 Reading preferred, &c, 40 Missouri Pacific,
3,272 Missouri, Kansas & Texas, 1885 Missouri,
Kansas & Texas preferred, 1850 New York Cen
trail. IL. 20 Northern Pacific, 5,475 Northern Pacific
preferred, 269 Ontario & Western, $3.50 Rock
Island, 3,72o st. Louis & San Francisco second
preferred, AZ, $50 Union Pacific, A, 800 Union Pacific
preferred, Co. $40 St. Paul, IL, $50 Southern Pacific,
1870 Southern, $40 Southern preferred, 22,52O
Texas & Pacific, III, 42O Tobacco. n,720 Federal
Steel, 10, ITO Federal Steel preferred, 31,09 Peoples
Gas, ans Consolidated Gas, 5000 Brooklyn Tran
sit, 1908 Pacific Mail, 1920 Sugar, $3.50 Tennes-
see Coal and Iron, $3.50 Leather preferred, 1o,4O
Rubber, 6,2S5 st. Louis & Southwestern preferred.
The active stock specialties generally made
large advances yesterday. while railways gained
from one to three points. A strong tone prevailed
practically all day, with strength radiating from
one group Of stocks to another. The movement
started IN the grangers and standard stocks and
next the Paci1cs advanced. Interest then switched
into the Flower group and the -Southwesterns sue
cessively and then into the industrials. with
Sugar and Tobacco leading the rise. Central and
Southern Pacific were weak in the forenoon prior
to the publication Of the reorganization plan Of
the former road and subsequently rallied, but
feebly. London opened slightly below parity and
on the rise here sold about 5000 shares and sub
sequently purchased about 5000 shares. Among
the grangers ST. Paul made a gain of ~, being
sold by London and purchased by Western houses.
Burlington rose a point and then dropped 2A,
closing about the lowest. The news that the
syndicate had secured a majority Of the Chicago
& Alton stock benefited the Southwestern group,
including Texas Pacific, Missouri Pacific and
Kansas & Texas preferred, over two points each.
Union Pacific followed with a rise of over a point.
Atchison preferred was about the strongest stock
among the railways. making an extreme rise of
ga on favorable forecasts of the forthcoming jan
uary statement of net earnings. Among the local
traffic shares pronounced strength appeared, Met
ropoIitan making an extreme advance of 5A.
Brooklyn Transit 3S and Manhattan 3A. The
movement in the latter was considered a twisting
of the short interests. Southern Railway pre-
ferred and Louisville We're the strongest spots
among the Southwestern railways, although the
latter showed a decrease in the earnings for the
second week in February. Tobacco was a SEN
~sational feature among the industrials, adding to
tts recent rise 15l2 points. Many conflicting
rumors, all lacking confirmation, were disseminate
ed concerning the continued rise in Tobacco.
There are some in the street who appear to be-
lieve that 1t is a movement against the short
interest, part Of which was formed on the break
ing up Of the pool interest stock some time ago
and another short interest more recently formed
in expectation of a violent trade war to follow
the organization of the Union Tobacco Company.
Sugar became active again and rose 6A points to
1401z, the top price recorded for the day. This
move was made in spite of a rival company
making a cut in their price of the refined article.
In the final hour realizations appeared in many
stocks. which caused some declines of note, but
the general market displayed a rallying tendency
to the end. The dealings, which were consider
ably in excess of a million shares, were the larg-
est that have taken place in some weeks, with
commission houses reporting a good volume Of
out-of-town buying.
The bond market shared in a general show Of
strength to-day, but the rises were generally Of
the merest fraction. Considerable activity was
noted, with the inquiry, as of late, in the semi
speculative grades. Total sales. IS, 500, 900. Gov
eminent bonds were unchanged in bid quotations.
The following table, prepared by J.. w. Louis,
Room II, Board of Trade, shows the range OF
quotations.: