The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-13
MONEY, STOCKS AND GRAIN
Great Activity in the Share List, with
Wall-Street Bears Raiding.
Damaging Rumors Concerning Vanderbilt
Stocks Still Being Circulated-Indian-
apolis Cereals Lower and Dull.


Railway Issues Were Heavy and on the De-
~cIine-saIes, S65G,OO0.
At New York, yesterday. money on call
wac active. ranging from 3 to 20 per cent,
the lsst loan being made at 3 per cent.
closing offered at 3 per cent.
Prime mercantile paper. 9 to 10 per cent.
Sterling exchange vas quiet. with actual
business in bankers bills at 1881 "a 4.S219
for sixty days. and s4.S3l904s4A for de-
mand.
of.certificates at tic. and closing at 7OAc.
Certificate sales. sl0O.0 900.
As was expected, after the sensational
Iumors In circulation Tuesday. trading on
the resumption of business at the New
York Stock Exchange. yesterday morning.
was attended with considerable activity
n excitement. There was q per-
feot rush TO sell. the result of the
continued circulation of reports affecting
the standing OF certain capitalists promi-
nent IN the railway world. Names were
banded freely, but no one in position TO
know the operations of the parties in ques-
zion could confirm the stories put atioat- It
cannot be denied that there have been
heavy foundations and that, too. In the
best of stocks. but at the same time a con-
siderable proportion OF thu business con-
sisted of selling for tho short ac-
cOunt. The Vanderbilt stocks were sold
largely, and one of the rum0rs was
that some connection of the Vanderbilt
family had been forced to throw overheard
q lot of Vanderbilt securities. The real
reason for the selling. It " as said, was the
fact that @ w~ell-kDown trader. who is in
no way connected with the Vanderbilt
family. had been forced to throw over
about 5000 shares of the hIgh.priced Van
derbilt stocks that he bought some time
ago. Cammack, 1t was said. learnet of the
liquidation and joined forces with him.
with the result already known. The fail
ures at London and the orders to sell from
that center added to the feeling
of depression. Prices declined 1
TO Ga per cent. and were the low
est touched for q VERY long time.
TO demorslize the market. q tirmer feeling
took possession OF the list. and. in a ma
1ority of instances. stocks sold higher than
Tuesday night. There were several causes
for the Improvement. chief among them be-
ing q return flow of currency to this CEN
ter. the easier feeling in money. the fur
Their decline in sterling exchange aud the
probability of additional gold imports.
The sum of 500. 600 In gold will probably
arrive from Havana to-day. and It is re-
ported that about 81. 600. 600 is now on tho
way from Europe. 1t Is also stated that
further engagements have been entered
into for the shipments by steamer sailing
from southampton next Saturday. The
Influx would be larger, but for the diff
Guilty of obtaining round amounts of gold
from the Bank of England and the Bank of
France. The impression. however. is that
If the exports of grain continue to increase
as they have of late. exchange will decline
TO n point that will make Importations
feasible. The advance in the last hour
ran ged from / to Az per cent. The market
closed firm in tone.
Railway bonds were heavy. The sales
we're $3.50, 000. Erie seconds, ~consols. after
declining 8 To SO. rallied TO and closed at 81.
Government bonds were steady and State
bonds dull. Closing quotations were:
-Four per cent. reg.111 Lous. & Nash..... 57la
Four PER CT conp-111 L. & New Albany. IA
Pacific 6s or 20 lO3l Z Missouri Pacific.-- 287s
Atchison- ---...--- 1914 \. j. Central. 80
Adams Express. 14O Northern Pacific. ll3t
Altos x Il. H. 30 y. Pacific pref. .... 293s
Alton 81 III. pref. las Northwestern. 99Ls
American Expr'ss-10S Northwestern pr'fI35
Ches. 4. Ohlo------ ID n. u. Central------ 99la
C,B & &c. S212l Peoria, u. d e.. 8
c., C., c. Il ST. L.. 80 Pullman Palace. 1855
Del. Lack. * W.-139l2l Rock Island ..---.. 66la