The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-15

Sensation Ina Edison Stock Following rs-
vorsble Court Decision.
NEW YORK, July H.-Money on call
was EASY, ranging from Ia to per cent,
the last loan being made at 2, closing Of
fered at 2 per cent.
Prime mercantile paper, 5l207 per cent
Sterling exchange was dull but weak
ut s4s5 for slxty-day bills and S4.s7 for
demand.
The total sales of stocks to-day were 81
49, shares. including the following: Atcbi-
son, II, sos; Chicago Gas, $40; Louisville q
Nashville, 5,S45; North American. $3.50; st.
Paul. 14.sI0
The apathy of operators in the stock
market and its resultant dizziness and stag
nation In the trading in all probability
reached their limits To- day. all features dis
appearing from the market. while trading
on the floor was practically parslyzed. The
morning operations showed some life. the
selling by London and Chicago encourag-
ing further efforts by the local trading
bears" TO get prices down. but when these
attempts ceased utter stagnatio took pos
session. The selling by London was sup
posed TO be on account OF higher rates for
money there and the activity of the bears"
after the fortnightly settlements were over,
but Chicago was q seller of Chicago Gas at
the the s%e ON the the 2?
veto permitting the opposition COM
pany to begin business. The decision of
Judge Wallace. confirming the right OF the
Edison Company to the incandescent lamp.
also infused some life into the market. by
causing q sharp rise of ia per cent. in Edi-
son stock. The bears again circulated
rumors of further shipment of gold to-
DAY, but the old story gradually lost it's IN
huence. and the early downward movement
a.
ceased altogether. Considerable specnla-
tive vigor has lately been infused into Atch-
ison, and ii fairly rtvaled st. Paul to-day.
Boston being reported as a buyer OF the
stock. There was some inclination
70 sell Sugar on the prospect
of excessive litigation. and an IN
certain amount of annoyance from
it. The market opened under the pressure
brought to bear at small fractions lower
than last nights figures, but the further
losses sustained in the early dealings were
sufficient &c bring Chicago Gas down only
g per CO p. while other stocks showed
smaller Occasions. Burlington. however.
disp. syed soIle strength. and Edison shot
up rapidly from 9S to 105l4. Later in the
day : ackawaDna weakened. and North
American showed the influence of the rise
IN Edison, OF which the company is holder,
but movements were slight. It is a waiting
market pure and simple, operators being
disposed To postpone the formation of Opln-
ions until the showing of the earnings on
lilo new CIOp hIo ercu anu Wnlto
London bankers report growing feeling
in favor of American securities. The buy
ing from that source is insignificant at
present. The pressure upon Chicago Gas
was kept mp TIL the close and resulted in q
material loss for the day, that being the
only stock in which any important change
occurred. The late dealings showed 10 i'm
provement in the tone of the market. which
finally closed dull but heavy at about the
lowest figures, though in most cases only
slightly changed from those of last even
ing. Chicago Gas. however. is down Zig
per cent. at 40.
While the demand for railroad bonds
from investors continues very moderate,
there is still a strong disposition shown To
subscribe tG commercial investment stocks
which are now coming on the market. The
Lorillard stock recently issued was over
subscribed and the Trow directory stock
placed before the public to-day shows large
advance Subscriptions. Railroad bonds to-
day were ike stocks, even less animated
than usual of late, the total transactions
reaching only $4,000. W lille the usual lac x
of movement II the active issues W as seen.
Nevertheless Delaware IL Hudson, PEN
nsylvania sevens. lost ga. at 40.
Government bonds have been dull and
firm. State bonds have been entirely
neglected. Closing quotations were: