The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-13
"A BULGE AND A SLUMP
THEY COMBINED TO MAKE AN IN
TEREsTING STOCK MARKET.
Heavy Gains i'm the Railroads and
Sharp Losses i'm the SpecinItfes-
Local Business I'm Good shape.

At New York yesterday money on call was
steady at 1854 per cent: last loan AZ per cent.
Prime mercantile paper, 495 per cent
Sterling exchange was easy, with actual bust
ness in bankers bills at s4-saAG4.s41s for demand
and s4.so7sQ4so5s for sixty days; posted rates.
sLsih@4s2 and saS5Ba4-ss; commercial bills.
sLs004 so1s
Silver certificates were 64R65c; bar silver 641sc;
Mexican dollars. 50Ac. Bar silver closed at
% 15-Isd ounce in London.
Activity In a large number of usually dormant
securities was taken by traders yesterday to
demonstrate increased interest in the stock mar
ket the part Of the outside public. Gains
IN these properties more extensive than in
the usual market leaders and extended TO four
points IN some cases. Factors which contributed
70 the days rise included traffic statements for
the first week OF December, embracing all parts
of the country. and showing substantial in
creases. The fact that yet money rates have
not exceeded per cent. and that yesterday the
highest figure made was 5is. which tapered off
TO per cent. before the close. rendered specuia-
tors less uneasy. The banks thus far this week
have lost s.. 100000. Rates for sterling exchange
continued yield. sixty-day bills declining &c.
II is understood that the question OF imports of
gold is being considered by prominent institu-
ton on the basis of allowing interest the
money while In transit. The market for Amer
leans abroad described as buoyant and the
arbitrage houses bought about So 900 shares on
balance for London. This demand was primarily
responsible for the weakness in sterling
change rates, as offerings OF commercial ac-
ceptances were only moderate At the outset of
business the coal stocks were the principal fea-
lures and generally got well above Tuesday
nights close enormous demand. These
properties later on showed the effect of heavy
realizations. Heavy buying developed i'm the
steel stocks. owing 70 encouraging reports of
the trade outlook Tin Plate made the extreme
rise OF 27s but Steel and Wire the most ac-
isfactiou over the annual report published by
ths- Brooklyn Rapid Transit Company promoted
a demand for the stock and strengthened all the
fractions temporarily There was very heavy
hsving az intervals in the grangers. Pacifics and
some OF the Southwestern stocks Unusually
large dealings in the Lake Erie * Western
fer the common ard preferred. and New York
Chicago * a. Louis first preferred jumped
ponts. TO 100. An increase OF Y per cent. to 2
per cent. In the semi-annual dividend the
a rise OF ia cent in its price In the final
hour a raid made on Tennessee Coal and
the stock broke AZ per cent on rumor that the
quarterly dividend the stock. This movement
unsettled the entire market and prices fell away
rapidly. averaging point for the most PROM
ciaities. Tin Plate being most affected. When IL
became known that the report OF dividend action
on Tennessee Coal was unfounded the stock rail-
lied two points and all other stocks recovered
scmewhat speculation leaving of strong again
and active Standard OIL sold at $50 and S795
share
strength was displayed by Kansas a Texas is
sues. The. market was irregular Total sales,
AT par value $3.50 000- United States
funding twos. registered, advanced = and the
Following the days share sales and the
closing bid prices