The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-19
IN PROFESSIONAL HANDS
STOCKS MANIPULATED FOR A RISE
WITH CONSPICUOUS SUCCESS.
Heavy Gains In n Number OF Securi-
ties-Marked Exceptions-The
Trend of Local Trade.

AT New York yesterday. money on call was
sfs4 per cent: last loan. per cent
Prime mercantile paper sac per cent.
s,er,,ng exchange was strong with actual BUSH
ness I'm bankers bills at $4-s41z94s4ss for de-
mand. ana AaIaLs1A for sixty days; posted
rates were $4-s2g4-s21s and $4-sS1z' eommerciai
bills. slsOlzG4a.
silver certificates were s2lz9s4c; bar silver.
S5lsc; Mexican dollars, 4s1zc. AT LONDON sn-
yer bars were 20 5-1sd ounce
The movement of prices OF stocks became ex-
ceedingly irregular, yesterday under tne opera
tion of existing speculative force. These forces
were largely professional traders In stocks, ana
they conducted their operations with free hand
and on a large scale So far as the surface
of events showed, a large and influential bear
marty inaugurated campaign for decline
There was opening selling by an interest which
has long persisted on the long side OF the mar
ket and for whose account there was large SELL
ing yesterday. not only In stocks In which there
has been open buying for some time past put
I'm other stocks all around the room On the
other hand, there resistance offered TO the
decline by the manipulation OF various special
stocks. with resulting sharp advances How far
this latter movement resulted from desire 10
sustain the market for the purpose Of realizing
I'm other stocks could only be surmised In Union
Pacific the selling to realize was on an enormous
scale blocks of a thousand shares and upward
coming frequently Considering the volume
OF dealings the narrow movement OF the price
is a pretty good indication Of continued heavy
buying demand The stocks extreme range was
-. which measured the decline. and In the lats
dealings there was a full recovery. The heavi-
est selling pressure for the day in stocks
stious. Pennsyivania. B. & o., Southern Pa
cihc. Atchison preferred, and Louisville were
onspicuous in this category. During the early
part of the day the aggressive selling was sue
ceeded BY periods OF. dizziness and feeble rallies.
points, later in the day, made the undertone
firmer throughout. The first notable rally was
In the iron and steel stocks. which were sud-
denly advanced all around. by rapid steps. from
1 to pa. Prices OF the group then fell back.
but points OF strength developed elsewhere. The
movement in New York Central and in stocks
OF allied companies. which were expected to
come into closer relation, was a notable one
There substantial gains in all of the New
York. Chicago az St Louis stocks. the first pre-
serred selling up points on a single sale. and
closing points higher than bid The Lake Erie
* Western stocks and Canada Southern rose
from 1 to points. Chicago Northwestern
anf Denver a Rio Grande stocks and few less
conspicuous railroad stocks also came into late
movement. which spread throughout the list
sugar rallied sharply "a points, and the close
was firm and at recoveries International Power
conspicuous for slump of 9l1 points on the
strictly professional throughout, and the
news had little effect on prices The ending
OF the coal miners strike was utterly ignored,
and the tendency In Peoples Gas reactionary
In spite OF the announced settlement OF its con-
troversy with the Ogden Company.
The bond market continued Irregular, on q
sair volume OF business. Total sales, at par
value. s1.175.000. United States new tours
advanced u per cent. on the last call.
Following are the days share sales and the
closing bid prices