The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-11-16
STOCKS FIRM
New York Brokers Who Want
Lower Prices Afraid to Move.
Activity Caused by Several Unfounded
Rum0rs-lndianapOliS Grain Active
on Larger Receipts.

AT New York yesterday money or call
was easy at 19I15 per cent. the last loan
being at IL, closing at IL.
Prime mercantile paper. 4AG6h per cent.
Sterling exchange was steady, with actual
business in bankers bills at 81. S41l04 .S4X
fox demand and S4.S214nLS31a for sixty days;
posted rates, $4.SS@4S3ls; commercial bills,
$lS1H04S1i5.
Silver certificates. 691a0 7Ot= cents. Bar sill
Yer closed at CSC per ounce; at London,
81 Lied.
Total sales OF stocks amounted to only
1S0.SD shares.
y duller or less interesting day than yester-
day has not been experinced on the New
York Stock Exchange for months. The
only activity was among the rumor mon
gers, whose %fecUndity was abnormal and,
as usual. the reports in circulation were in
tended TO depreciate alues. Though in
most cases speedily denied, they served the
purpose OF the authors TO make quick turns
on the short side OF the act. But, in spite
OF all efforts of bear traders to establish a
lower range of values and in the face of an
Inactive market, a remarkably firm under
tone characterized the dealings. In making
up the balances for the day a greater num-
Der or shares were placed in the column of
advances than in the column of declines.
y reason for this is 10 be found I'm the
t-4AAAo4NJ VI lAt SllOlL llllEIGSl, MI Is now
disposed TO leave its lines long outstanding
and seek 10 secure its profits by covering at
eaeh moderate decline. The purchases for
TINS account, supplemented by new buying,
even though in small volume, serve
10 restore values. As the market.
IN its present temper, is more SEN
sltive to a purchasing than to a
selling movement, it requires a lighter VOL
ume or business TO move the market up
than 70 send il down. The bears are not,
therefore, doing Il very profitable business
IN the market as 1t stands, and they do not
seem TO consider the conditions ripe for a
more vigorous and necessarily more risky
campaign An attempt was made to fright
en- holders OF Louisville & Nashville by the
circulation of a story, alleged to have come
from London, to the effect that several of
the directors intended TO. resign. This was
denied at the cOmpany's Office in New
YORK, and a report that the Chesapeake &c
Chic Southwestern deal had been declared
OF was denied on the authority Of Mr..
Belmont, OF the Louisville Il Nashville df-
rectory. Neither canard had an apprecia-
bic effect on the stock. Western Union was
sold down Us per cent on a renewal of the
reports OF decreased earnings, and it was
TumOred that a combination had been
formed to bear the stock. When the pres
sure to sell was renewed in the afternoon a
recovery of 1 per cent. was made. The in
dustrlals were ralded on private dispatches
from Washington suggesting unfavorable
. tariff changes. Sugar yielded 10, Lead pre-
ferred rs and Cordage preferred 4 per cent,
the latter being unfavOTably affected by
the anticipation OF a bad statement from
the receiver. Union Pacific held up well
under the heavy decrease in the October
earning and actually closed Il small frac-
ton above Tuesday. The general market
was Irregular and unsettled all day, fIuc-
tuating frequently between strength and
weakness. but in the main making toward
better figures. at the close 2 fairly steady
tone prevailed and the active list was gem
orally a fraction higher than at Tuesdays
closing.
An unsettled tone characterized the deal
inSs IN the railway and miscellaneous bond
market, the principal change being an ad-
vance In Chicago. Burlington & Northern
fives OF AS per cent
Government bonds were quiet and State
bonds were dull.
The following table. prepared by Jsmes Il.
Berry, Room 1G, Board OF Trade, shows the
20 O. Of naofaFiOpc.