The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-03-07
MONEY AND STOCKS.

Clearing. for the Day and Week Compared
with Those of Same Periods In 1891.
The clearings yesterday were s5S1. 1886 81;
balances. S42. 1874. For the week the
clearings were s.. 623. s26. 80: balances. $780,
1922. On the corresponding day in 1891
the clearlngs were s612. 1906. and the bal
ances Sc. 9O4.19. For the week the clearings
were 5000. O65.96, or more than $500. 600
greater than in the corresponding week in
1892, the smaller volume being due to the
street-car strike. which has greatly inter.
fered with commercial transactions.
NEW YORK QUOTATIONS.
At New York, Saturday, money on call
was easy with no loans. closing offered at
per cent.
Prime mercantile paper sash per cent
Sterling exchange was quiet but steady
at sz.s514 fox sixty day bills and S4.s7a4 for
demand.
The total sales OF stocks were $4,000
shares. including the following: Atchison,
$3.50: Canada Southern, Il. 0Ss; Delaware.
Lackawanna & Western, 9I2; Erie, LILO;
Lake shore. 20.657; Louisville & Nashville.
300; Michigan Central. 5.145; Missouri Pa
cific 5, 767 North w stern. &c, $50; New York
Central. 1882; New England, e, $40; Read
ing. 1880; Richmond az West Point, 27.24S;
St.Paul. 1900: st. Paul 81 Omaha, $3.50:
Western Union, 3,575.
The stock market, Saturday, again gave
tndubitable evidence that the movingDowe
behind the situation is only manipulation.
and. while the strength of the whole list
was very decided In the first hour, COM
plete and demoraliZing chance occurred at
IL o'clock and the most positive weakness
marked the trading on the exchange for
the last hour of the session. There were
two principal causes advanced for this sud
den change of temper, one being the old
L. ~ol off ha Of Mr. GnUlh nd
the other was the appointment of receiver
for the Georgia Central railroad. The
former. however, was quickly denied. while
the latter was known before the opening OF
the session and seemed to have no weight
during the first hour. There was. be-
sides. o bank statement which showed
q large decrease in cash despite
q moderate increase in deposits. and
reduction in the surplus reserve of over ST.
100000. This undoubtedly had some infu-
ence, but the downward movement was IN
full swing long before the issue OF the
statement. The market opened with a
firm temper and the whole list, with the
exception of the Richmond IL West Point
securities and the New England. scored
further Improvement in the first hour,
there being ND to that time no interruption
to the advance. The Vanderbilts were
still the strong feature and Lake Shore
rose rapidly from 1868 to 140l5. Michigan
Central did moro than keep pace with it
with rise from 1111s to 1l9 on much
smaller business. All the other stocks of
this group felt the stimulus and
Northwestern and New York Central
made material gains. selling up to
the highest points for the week. Up to
this time the concessions in every thing
but the Richmond 81 West Points were In
Significant, but that stock opened down
ia and retired / per cent. further, while
the preferred, after opening down ga. at
6s. further dropped TO 81. In the face of
lied to 90. but closed ut 65 The general
list quickly ran of in the last hour. and
realizations and heavy short selling. to-
gether with the execution of some stop
orders. accelerated the decline. Lake
Shore dropped from 140l9 TO 1851;
Northwestern. from 12lh to 1l9;
Reading, from 5ols TO 65@; Lack
swanna, from 1888 to 1898.
13617. while the entire list was brought
down below the level of the opening fig
nres. The early advances were lost in all
cases. md in many additional fractions.
The onslaught was kept up TO the close.
and the market finished weak at the lowest
prices of the day. Michigan Central was
the only stock which held on to any portion
of its advance and it was SIS per cent.
higher Saturday night. at 1I9. though the
bid for 1t at the close was materially be-
low that figure. The losses. however. in
cIuded Lackawanna and Delaware IL Hud-
son, zach 3 per cent: Richmond IL West
Point 2. the preferred Ga; Reading. 1zs, and
New England and Missouri Pacific. each Ia.
Railroad bonds were also fairly active,
but there was no excitement as in stocks.
though the Reading issues and those of the
Richmond & West Point system were spe-
cially active AMI weak. The rest of the
list. however. displayed q firm temper IN
til the break came. when prices receded III
sympathy. The total was LIZ. 600, of
which Richmond & West Point fves fur
nished S296. 200. Reading thirds. Sl29, 900, and
the deferreds $4,000. The advances were
few in number. but Syracuse. Binghamton
q New York irsts rose 2is, to 1914: Louis
Pacific seconds TO 1O7. Reading convertI-
bles lost 4l2, TO Sole.
Government bonds were dull and steady.
State bonds were dull and firm. Closing
nnnfarIOna