The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-22
PROFITS HEAVILY TAKEN
SHARES so WELL ABSORBED THAT
FEW DECLINES RESULTED.
Several Glasses of Securities Were No.
tabIy strong-Moncy Market Condi-
tiOns-More Active Local Trade.

At New York yesterday money on call was
steady at 3lsQ4 per cent; last loan, per cent
Prime mercantile paper. 4lI5 cent
Sterling exchange was steady, with actual
business in bankers bills at s4.Siss for demand
and s4-s07sQ4a for sixty days; posted rates.
S.s2 and s4-S53; commercial bills, 81. SoaQ4 sOs.
Silver certificates. 64965c: bar silver. sS7sc;
Mexican dollars. 5O4c. Silver bars sold at 2s7sd
iii ounce on the London market.
Yesterdays stock market presented nothing
more than the routine progress Of o speculative
boom There a continuance Of large and
well distributed demand for stocks and there
was very heavy selling 10 take profits. The
result was the same irregularity in price move
ment which has been less the rule ever
since the present speculative period began The
prodt-taking somewhat overbore the buying.
or. at all events. the selling movement showed
it, greatest force towards the close of the ses-
sion so that the sentimental effect in the day 5
market was the side OF reaction to greater
exent than previous days Buying orders
came into commission houses night for
execution. and London also bought stocks in the
American department a large scale. influence
ing the market to strength early. Assertions
are made that the foreign speculative public
is showing a growing interest in American
stocks. but the largest part of the foreign buy
ing is attributed TO the provision making against
the options sold by foreign dealers before the
election. a large part of which are still to come
due. with very heavy losses already shown by
the great advance in prices Undoubtedly very
large operations conducted In London on
cabled instructions from New York IL was per-
fcctly natural that the good market Afforded by
the large buying yesterday morning should be
Ssne ia 81 70 On the as
furiously active and remarkably steady,
the demand being Ted SO freely as 10 preclude
any sensational advances. But as an impression
began be made prices, the selling pres
sure relaxed, showing the careful nursing
process of the powerful speculative leaders who
are the head OF the present movement. Buy
ing then diverted to points, and under
cover Of the notable advance thus achieved, the
realizing was resumed The day closed with the
market somewhat overwhelmed with the volume
M realizing. although there some nnaI
rallies on short covering. But last prices were
had been especially strong. The grangers We're
foremost in this list. ST. Paul leading with an
extreme advance OF 3is. Atchison common was
very heavily bought at advance OF 2ss. Brook
lyn Transit and the other local traction stocks
Louisville and at time Sugar and People 5
Gas We're also strong points. The Northern Pa
cincs were naturally prominent IN the reaction
AIRY tendency after Tuesday notable advance,
and Pennsylvania was also quite weak. The steel
stocks yielded TO increasing pressure, and closed
the day generally net declines. The early
strength in Union Pacific, the Denver & Rio
Grande and the 81. Louis San Francisco
stocks yielded 20 reaction Money continued
easy. and the subtreasury paid out 81. 900 900 on
account OF assay Office checks for gold deposited
al Pacific coast points from Australia. This
swelled the total debit balance OF the subtreas-
cry the clearing house 10 s.. O41. 4oe. The I'M
dertone of the sterling exchange market con-
tinues firm. in spite Of some large buying OF
stocks for London account.
The bond market showed weIl-distributed
strength on a large volume OF dealings. Total
States bonds were eli unchanged on last call.
Following are the days share sales and the
closing BID prices: