The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-08
MONEY AND STOCKS.

MONEY AND STOCKS.
For tb. First Time i'm Many Days Core
spending Bank Ciesrances Favor 1891.
The associated bank clearances yesterday
were 777,35l.ss; balances, s67,5 $3.50. For
the corresponding date of 1891 the clearings
were s797. 727.52: balances, So. 9s74S. Thus,
for the first time in many days. the clear
ances of the past three months fall below
those of corresponding period In the pre-
vious year. The demand for money is
sIiphtly improved. Merchants find cOllec-
tions coming in better than they bad ex-
pected,
NEW YORK QUOTATIONS..
At New York yesterday money on call
was easy at Ola to GA per cent, the
last loan being made at per cent; closing
offered at 3 per cent.
Prime mercantile paper, Az G6 per cent.
Sterling exchange was quiet but firm at
e4.s2la for uxty-dsy bills and s4.s44 for
demand.
The total Gales of stocks were 675,575
sIaIes. including the following: Atchi-
son, A. O95; Canada Southern. $3.50; Chicago
Gas, 20, 30; Delaware Lackawanna IL West
ern, $500; Erie, l0,355; Kansas & Texas
a,9O4: Louisville & Nashville. 2l.s75; Mis-
souri, Pacific, $3.50; Northwestern, 1920
North American, 4.O55; Pacific Mail 1850;
Reading, $3.50; Richmond d West Point.
H,O47; ST Paul, 81. 525; st. Paul IL Omaha,
f.045; Union Facifc. 1866.
The stock market was by all odds the
most active We have had since the revival
d. business last fall. but while displaying
D strong temper during most Of the day. it
yielded throughout the list in the last hour
and all the early gains were lost, with
something In addition The raid was made
during the last hour of business by a COM
bination which has been selling stocks,
and whose members have been endeavor-
Ing to become buyers at lower prices. The
movement was started By q sudden drop In
quarters to have been the result of o settle
ment with the shorts and with this set
Element all necessity or keeping its price
mp was done away with, consequently
many heavy stop-orders in IL were uncOv-
cred at every per cent down and the sud-
denness of the decline has seldom been
equaled. The drop was followed by de-
teTmined attack on the whole list, to
which the bulls" did not appear to make
any strong resistance. the more prominent
among them expressing the opinion that
this reaction would bring In fresh lot of
buyers. The forenoon's dealings were
marked by great strength all around, but
the upward movement in New England,
which fairly led the list was very large and
that stock rose above so on heavy transsc-
tions. bringing the whole list along with
Ii. Other particularly strong stocks were
Rock Island, Richmond IL West Point,
Atchison. together with many of the low
priced sDecialties. among which Louisville
New Albany IL Chicago. Kansas Il Texas
and st. Paul * Duluth were specially
prominent. The most conspicuous feature
Of the market at this time. however, was
the strength in the industrials. including
Chicago Gas. which rose from 1873 to 50.
The only real weak point in the list. how
ever, was Louisville IL Nashville, which
responded to selling by the foreign ele-
ment and retired over per cent. in the
break which carried all the rest
down had little influence on il and it
yielded only slightly when other stocks
were running Oft rapidly, and its decline
for the day is not much larger than that of
some others which were stronger in the
forenoon. The ,Iose was very active but
weak. generally at the lowest pr1ces of the
day. The important losses include Chi
eago Gas. Ais; Louisville IL Nashville. rs:
e, C.. c. 81 ST. l., is; Cotton Oil. lis, and
Wheeling 81 Lake Erie. per cent. New
England stands alone in showing q gain,
ITS advance being 2ls per cent.
Railroad bonds were also more active
than at any previous time, and the total
sales reached s.. 240 600. but, unlike tocks.
there was no severe slump in the final
dealings. although some of the more
pctive of the speculative issues. like tho
Richmond * West Point bonds and some
others. yielded slightly. The Kansas &
Texas bonds were the special strong feat
ures. but all the more prominent issues
were advanced moro or less. and the Read
were very active.
Government bonds were dull and steady.
State bonds were dull but firm. Closing
quotations were: