The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-25
SOME HEAVY SLUMPS
New York Stock Market Raided
from All Directions.
Distillers' and New England We're the
Greatest Sufferers-NO Session of
the indianapolis Board.

Sterling exchange was inactive, with
actual business in bankers bills at $LS634sD
46 for demand, and at $4S4AQ4Sil5 for
sixty days; posted rates, 1886 and s4S71h;
commercial bills, $iSShaISS1z.
Silver certificates $3.50 last bid Bar
silver closed at 69Ac per ounces at Lon
don, 32lsd.
The New York weekly bank statement
shows the following changes:
Reserve. increase. 81. 76s $50
loans increase --.---...--.....---. StSD, 100
Specie, increase. ..................... 1880
Legal tenders. increase. 10000
Deposits. increase Observation-Disclosures. 1905, eco
Circulation, decrease. .-............... $4,000
The banks now hold s77,936776 in excess
OF the requirements
Sales of stocks were 1890 shares. While
New England the leading stock in
Saturdays speculation the Stock Ex-
change and took up one-third of the deal
ings,. there was a fairly active and we'll
distributed business in the rest of the
list. The trading was on the bear side of
the market, but the shorts did little
covering, which checked the downward
tendency at frequent intervals and served
TO indicate that the short interest was
not prepared to leave out very long lines
over the Christmas holidays. The London
Stock Exchange being closed until next
wednesday kept the arbitrage houses out
OF the market, continuing the speculation
TO purely local lines. There were both sell
Ing and buying orders in New England
from Boston. but the former largely out
numbered the latter, and a prominent
broker said to be acting for persons usual
ly well Informed as TO the company's af-
fairs, was large seller of New England
When 1T became known that directors
meeting Friday had appointed Messrs
mcleod Prince, Armstrong and En-
WIN committee to raise the $780,
Duo required to meet the January
interest thus confirming the general
belief that money had not yet been OBJ
tanned, there was a rush to sell the stock
which became more pronounced when il
was rumored that the opposition company
mad obtained control of New England's
floating debt with the object of forcing a
receivershtp. Under combined sales of lone
STOCK ana Tor the short account the shares
broke 49s per cent amid considerable ex-
element. The lower range of values in
ouced some buying, which resulted in !,
iT s1d OF Al IA followed by REACTION of
on the day was 21s per cent. The only other
STOCK the sales of which reached 10000
advancing Is at the opening, declined IL.
G,Osslng at recovery of e. A drive was
ma MADE ee on Distilling which sent it down 25s
from washington that the ways and means
eoinmittee had not yet definitely decided
10 increase the spirit tax. When the pres
sure 10 sell was removed the shares Quickly
rallied and closed 15s above the lowest
p pfdadlS TOUCHED A5ehSon was held pretty
Delng q higher than the closing figure of
yesterday, then reacting q. and then re-
G0Verlng 10 and closing al yesterdays price
.Ihere waJ a general rally in the final deal
l msg and the market closed firmer but z
IN New 0T England a 5hs "a day y T the latter
Pittsburg and c., c., C. < st. L. preferred
New Jersey Central shows an advance of
l per cent: and some few other shares are
a small fraction higher. The transactions
SL lne week have resulted in a universal
toca 1t In values there being scarcely
the closing price of SATURDAY. last The
PTlnclpaI breaks are: Evansville & Terre
Haute, 10; New England, IL; Pullman q:
Interior Conduit and Insulation. "a: Cotto1,
III preferred, 6la; Cotton Oil common. 90:
MOTIFS Essex and Pittsburg, c., c., {.
* * 81. L., o12; Western Union, 81; Alton &.
Terre Haute. Delaware & Hudson. RubbeT
I mo Grande Western. c. G.. c. & St l..
8; Distilling and Linseed Oil az: Nev VnUh'
Chicago & st. Louis seconds Preferred az:
Susquehanna * Western preferred. 4%::
Mahnattan, AZ; Chicago Gas, Az: Atchiso6
ga; Starch, IA: Lake Erie & Western pre-
TERED, Pittsburg & Western preferred 4.
io UpacS Co. =, Treat Northern preferred. 3s.;
Lake Shore, 3A; Hooking Valley. 3Is: Neg
Jersey Central. Canadian Southern. Mobile
q Ohio and Sugar preferred 3; Sugar COM
mon pa; Lead common and preferred ~
New York Central and ConsoIidated Ca,ss'
"a; Delaware, Lackawanna &. -IVaster,, 81
Rock Island. 2ss; Missouri Pacific and Nil, r'i
neapols x St Louis preferred 21s. North-
ern Pacif1c preferred. Chesa peake e. orr,
and Colorado Fuel and Iron, 2iI: Trnior p
cine. Nashville & Chattanooga. RaItinnoro q
Ohio. Chicago, Burlington q Quincy iIJir, S
central < me only shares which have adj
vanced on the week are CorJlage nreferro5
li2 and Wells-Fargo per cent. Gu
the Atchison issues; the fours after reooI
ing Is. rose pa the seconds reactod u
and advanced III. Oregon Short-iins y
declined AZ and recovered 2 ner oiAe t
Louisville & New Albany consols deoI;ra It;
2l2. St Louis, Vandalia & Terre Har.u
seconds guaranteed rose 2 per cent RE oe
principal changes on the week are. ny
clines, Duluth & Manitoba firsts ia. =.
Louis & San. Francisco general sizes sSf.
Peoria, Decatur & Evansville secondS' 81,
Virginia Midland stamped guaranteed Y.
Chicago & Erie incomes, AZ; Oregon NJ,
tgation skies and Oregon Short-Iine siyas
a. Reading second preferred incomes To-
ledo, Peoria & Western firsts .Atcbison
Colorado & Pacific firsts and Atchison sec
onds. 315; AtchiSon tours, pa Advances.
Minneapolis & st. Louis seconds 148,: he
troit Union Gas consol fives, 9Is: Detroit
Lock sevenS of 1907. 5l2; st. Paul firsts
l. & ID. Extension fives and St Paul g.
Northern Pacific skies, Al.
Government bonds were easier State
bonds show nothing doing
The following table, prepared by James E
Berry. Room is. Board OF Trade SHOWS tha
range OF quotations.:
Open High Low Clos