The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-02-05

moro tnen Two and q Hail MILLIONS Aooso
Required demonstrating and BALANCES.
The clearings yesterday were s6S4.17o.T0
n the balances S75,52i22. as against tho
corresponding date of 1891, which shove
the clearings to be $3.50. 946. 90; balances.
s5.55a.3d. Money 10 not in special request.
and the reserve above the 33ls per cent. of
deposits required to be kept in the vaults
by the rule of the associated banks con.
Times to stand above two and one-half
millions.
NEW YORK QUOTATIONS..
At New York yesterday money on call
was easy at Ia to 2 per cent, the last loan
being made at liz. closing offered at 2 per
cent.
Prime mercantile paper, SlsG5la per cent
Sterling exchange was quiet but strong
st s4.s4& for s~xty-day bills and S4.S7 for
demand.
The total sales of stocks were 1850
shares. including the following: Atchison,
1896; Chicago Gas. 27.O7O: Delaware. Lack
awanna * Western. 2s.6s5; Erie. 5.156;
Louisville 81 Nashville. 16.16O; Missouri
Pacific. 3.76O; Northwestern. 9.s25; New Jer-
sey Central. 3.44O: Northern Pacific pre-
ferred. 4.514; New England. 1920; Reading.
$500; st. Paul, q. $50; Union Pacific, 10. 439;
Western Union. 19,OS0.
The stock market was again active. but
rs usual OF late the increased business done
was all due to the persistent attacks of the
bears on the industrial stocks and incl
dentaliy some of the railroad list. though
considerable buying of the coalers was re-
sponsible for q great deal of the animation
late In the day. The most severe drive was
made on the market during the forenoon,
and IL created q large short interest IN
nearly all the leading shares. Burlington.
however. was the only railroad stock in
which the transactions assumed any im-
portance and q proposed issue of converti-
bic five-per-cent. bonds by the company
caused some Investment selling of the
efock. On the other hand. In the afternoon.
the market became stronger under the lead
OF Lackawanna, and with good buying in
that stock. Reading. Western Union. Lake
Shore and Louisville. New Albany
ened for the moment and covering
was in order, with the effect of wiping out
about all the early losses. The industrials.
however, were the principal features of the
day, and Distillers. after opening off u
fraction. remained very feverish without
yielding mnch for some time. but q most
vicious drive at il in the afternoon broke
TO 497sc, against 50lsc last evening. The
Cordage stocks followed, and Chicago Gas.
while not 90 active as usual. felt the effect,
yielding nearly 2 per cent. The railroad
list suffered only slight declines, with the
exception of Burlington and New England.
whose losses were over 1 per cent. The re-
markable strength and activity developed
IN LackawanDa In the last hour. however.
dragged the whole list mp again. and the
early declines were IN most instances re-
covered. Jersey Central ~sympathized
closely with the leader IN this rise.
but Reading. which had risen 1 per
cent. IN the face of the early decline, was
held at q shade under its best price. Den
Yer * Rio Grande preferred was also o
strong feature of the early trade and n
sharp rise of about q per cent. in Edison
electric marked the final dealings. The
res; of the market was traded In, as a rule,
within narrow limits. though considerable
activity was seen in a few. The opening
was fairly steady at irregular but slight
changes from last nights figures. and the
drive ut the industrials caused fractional
concessionsln the early trading. An advanc-
ing tendency was shown whenever the pres
sure was removed, however, and the rush
TO cover in the last hour brought almost
everything MP TO Wednesday nights tg-
ures. The close was active and firm 10
strong at insignificant changes for the day:
The only important changes were those of
Edison. which Is up 54. and L~ackawan-
na. 3: while Distillers are down to 90.
Railroad bonds quieted down considefa-
bly,. the total transactions reaching only
ST. 55. 0O0. hut there was q firmer temper
than for the last few days, and the impor-
tant changes are almost invariably ad-
vances. Atchison incomes contributed
Sl95, 600, and West Shore fours S2O3. 900 to
the total. but the rest of the business was
we'll and widely distributed.
Government bonds were dull and steady.
State bonds were dull and firm. Closing
Quotations were.