The Indianapolis journal., 1890-01-08
MONEY, STOCKS AND BONDS.
Heavy Bear Drives at the Coalers Have De
pressing Effect on the Market.

Heavy Bear Drives at the Coalers Have q De-
pressing Effect the Market.
NEW YORK, Jan. money on call
was easy. ranging from 3i2 to 6 per cent,
the last loan being made at per cent,
closing offered at l..
Prime mercantile paper 5s407l2 per cent.
Sterling exchange quiet but firm at
S4.sOl2 for sixty-day bills and S4.s4l2 for de-
mand.
The total sales of stocks to-day were 319,-
166 shares, including the following: Della
ware, Lackawanna & Western, So 19S;
Lake Shore. 5,575; Missouri Pacific, 1880;
Pacific Mail. 3,675; Reading. 10000; st.
Paul, II 900; Texas Pacific. 5000; Union Pa
cifc, 3,61O.
The stock market was extremely narrow
to-day. but it was more active than for
many days past, owing to the dead set made
pecially at the Reading stock and income
bonds. In those properties. with the addi-
tion of the Missouri Pacific, st. Paul.
Chicago Gas and Sugar Refineries, about
three-quarters of the entire business of the
day was transacted. The rest of the mar
ket was dull and without feature, though
generally heavy. In sympathy with the
leaders. Early this morning adyices of a
rumor afioat in London that no interest
would be paid upon the Reading incomes
was received, and the London quotation for
the firsts and the stock were materially
lower than last evening. With the opening
of business here the "bears" pounced upon
the coal stocks. and during the first hour
Lackawanna was sold down from 1855
to 134l2, Reading from 80 to 37ls. and the
first incomes from 1879 to 74l2. Lacka-
wanna, at the low figure, received some sup
port. and it rallied during the afternoon to
1864. closing close to the best price. but
Reading closed at its lowest figure after q
further decline. The incomes rallied some
what q rumor that the interest on the
first was to be shaded to prevent suits on
but later the bonds went stIll lower. Mis-
souri, Pacific. after the first decline. was
held firm by the covering of shorts" and
lost only a fraction, but st. Paul was less
lucky and steadily declined throughout
the day. Sugar Refineries was adversely
affected by the decision in San Francisco
in the case of the American refinery, de-
claring its charter forfeited. and it
also showed no recuperatlye power
ssn sna s0fsS at a1rs nn b. sesSs oSsr as
were comparatively steady. The one
strong spot in the market was Chicago Gas
Trust, which on reports of a bull pool in
the stock rose nearly 2 per cent, though all
the close. Among the specialties there were
some upward movements. chief among
which was that in Tennessee coal. but after
some wide and sudden fluctuations it left
off only fractionally higher than last even-
ing. In the afternoon the covering in
Lackwanna gave decidedly better tone to
the market. but later the decline was re-
sumed and dthemarket closed quiet but heavy
1T fractional losses In most cases The
entire list with but few exceptions is lower
tonight, and while Chicago gas is up l and
Tennessee coal q. Sugar is down 2l2, Read
ing like amount, Jersey Central 112 and
Norfolk & Western preferred and st. Paul
each per cent. Out of the total unlisted
shares of 35.607, Sugar furnished 22,115.
The railroad bond market, outside of the
Reading Issues. presented firm front. and
almost everything traded in shows a small
advance. The business done amounted to
s.. .SS9. 600. but of that amount the Reading
firsts furnished S41S,000, the seconds, S162,-
000 and the Kansas 81 Texas sevens S112,-
OO0 Reading firsts are down 63s per cent.
at 73ia; the seconds 4, at 81 Z, and the thirds
2l2. at 45.
Government and State bonds were dull
and steady Closing quotations were: