The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-16
MS on EASY TIME
CLIFFORD ARRICK 1920 Law Building
A is MORE ACTIVE
SPECULATIVE MANIPULATION STILL
LARGELY IN EVIDENCE.
Several Minor Stocks Take Prominent
Part i'm the Dealings-COndftions
in the Local

At New York yesterday money on call
was steady at 2G21z per cent.
Prime mercantile paper, 3kd4k per cent.
Sterling exchange was firm, with actual
business in bankers bills at $i.S71k for de-
mand and $4S4AG4.s43s for sixty days;
posted rates. $4S5a4.S51z and $4.SS1k: COM
mercial bills, $4.S3hQ4S4.
Silver certificates were 6l1kG63c: bar sill
yer. 6O1sc; Mexican dollars, 49c. Bar silver
closed ct 2S4d an ounce in London.
There was increased activity in the stock
market yesterday, and a disposition was
manifested to come back TO operations in
the usually prominent stocks. The market,
however, still continued very spotty and a
few usually dormant stocks were again
made conspicuous in the dealings. Ii was
evident that powerful professional opera
tors were making a systematic progress
through the list, taking profits on a heavy
scale on stocks which have recently shown
considerable advance, while bidding up
prices at new points. Thursdays specula-
ton was continued in some of the stocks
which started upwards there, while ag-
gressive new points of strength were de-
veloped. Among the latter Burlington was
the most conspicuous. all things considered.
and had the most influence in encouraging
other stocks. 1t was lifted 3A points over
Thursday night at one time in spite OF the
dragging tendency of other members of the
II group, which were under pressure
all day, especially St. Paul and the Chi
cago Great Western stocks, the common
and preferred Il of the latter company re-
lapsing violently from their recent show
of strength. The anthracite coalers also
suffered from profit taking. There was a
midday squirt in the group, led by the Fries.
but they fell back again on renewed sell
ing. The stocks showed a
notable check TO their recent strong up
ward tendency and sold steadily all day.
The st. Louis * San Francisco stocks were
all reactionary, losing from rs TO "a.
Among new points of strength developed
Illinois Central was conspicuous, the adj
vance reaching 3As. Chicago a Eastern
Illinois rose 4 on small transactions. There
were gains of 2 TO ga by Duluth, South
Shore * Atlantic common and preferred.
Canada Southern. Chicago, indianapolis Il
Louisville, Ann Arbor preferred, st. Joseph
a. Grand Island second preferred, Mime
apolis * st. Louis preferred, New York,
Chicago K St. Louis second preferred and
Hooking Coal. There were heavy dealings
in American and Continental Tobacco pre-
ferred at advance of 3 and 2l2, respectively.
Tennessee Coal rose PA and Pressed Steel
Car preferred 21s. Chicago Terminal Trans
fer preferred rose 3A. The market closed
with the price movement very much con-
fused, some few stocks selling at the top,
but the majority of the list under the
pressure of profit taking. The money mar
ket continued undisturbed in spite of a
prospect OF a weak bank statement. Indi-
cations are for a decline I'm the cash re-
serves of nearly S.OOO.OO, the subtreasury
alone having absorbed 81, 726,00O during the
week.
Business in railroad bonds continued very
large, the issues of Southwestern railroads
continuing the favorites. Total sales at par
value were 81. $50, 600. United States bonds
were all unchanged on the last call.
Following are the days share sales and
the closing bid prices.