The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-07
PRICE RANGE Is HIGHER
MANY RAILROAD SHARES ADVANCE,
LED by BURLINGTON.
Activity I'm IndustriaIs, Except in the
Steel Group-Wcather Still a.
Weight on Local Trade.

At New York yesterday money on call
was steady at 2Aq3 per cent; last loan,
2k per cent.
Prime mercantile paper, 3n44A pei cent.
Sterling exchange was firm, with actual
business in bankers bills at S4.S7k for de-
mand and s4.S4A for sixty days; posted
rates. A-s5k and SASSY; commercial bills.
s4.S3kG4.4.
Silver certificates were 611zQ63kc; bar sill
yer. e1lsc. Mexican dollars, ACC. Bar sill
yer closed at 2SAd an ounce on the London
market.
The character of yesterdays stock market
was very similar to that of Tuesday. Alb
sCrption of railroad stocks of a high grade
by buyers of abundant resources and of
a substantial kind went on side by side
with wide fluctuations in some of the
highly speculative specialties. So far as
the railroads was concerned, activity was
shifted to some extent from those stocks
which were most prominent on Tuesday. y
notable feature of the market was that it
did not rally with unanimity to the strength
shown by individual stocks; also, in those
stocks which did advance. the strength was
not simultaneous. Apparently the demand
for one stock would be largely satisfied
NCACAC u AAo vas w III IOlDCl
During the later part of the day there
vas abundant evidence of large profit-tak-
ing. Nevertheless, the days gains are very
striking, both by reason of the character
Of the stocks affected and the amount Of
the transactions and the extent of the
gains in them. Tuesdays late movement IN
burlington was continued at the outset in
the morning and the stock was carried UP
Zs to l5O12. a record price. Union Pacific,
Northern Pacific and Pennsylvania were
all G1id To hn L.. 4L4 If M
Baltimore IL Ohio Railroad stocks con-
tinued to show conspicuous strength, the
common advancing 3 and the preferred
"a. There was also a striking movement
II Atchison preferred, which carried il up
. points. The common stocks of this road,
Union Pacific. Southern Pacific and Louis
Vile q Nashville were strong. The later
movement Of the day had some appearance
of manipulation for the purpose of sus-
tanning the market while proft-taking was
IN progress elsewhere. The r~eactionary
movement took a point or more from the
best prices of many of the stocks. There
was a long list of stocks of smaller rail-
roads which were moved up all the way
from a point to 2$. Among the industrialS
Amalgamated Copper and Sugar claimed
the largest share of attention. The former
opened down IA on reports of a renewal
OF a~ntagonistic measures in Montana. liz
vas strongly supported and was rallied
"a at one time, but in the late dealings it
broke below lOl and closed with a net loss
OF "a Sugar was forced under Tuesday
night for only a brief period, and after
varied fluctuations closed with a net gain
of 1S. The steel stocks continued much
neglected and heavy in tone. The formal
steps toward the completion of measures
TO insure the exchange are still in prog
ress. While the new securities thus remain
roncxistent, operations in the group are
hampered. The subtreasury has taken
$,oW,OW from the market since last Friday.
and bankers report that the turn i'm the
tide of the interior money movement to
New York is at hand.
The railroad bond market continues ac-
tive and prices generally higher. Total
sales at par value were $685. 900. United
States threes. registered, declined "a per
cent. on the last call.
Following are the days share sales and
the closing bid prices.