The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-19
BY A
Stocks Weak from the Start with
Few Signs of Recovery.
Industrials and Changers Share in the
Raid on New England-Indian-
apOlis Grain Unchanged.

At New York yesterday money On call
was easy at 1G11z. the last loan being 11a.
closing offered at IL per cent. Prime mer-
camille paper. 312Q5h.
Sterling exchange was quiet and easier
with actual business in bankers bills at
A.S6AQ4T for demand. and at $4.s4Ad4S41k
for sixty days; posted rates, $4S5RG4.SS;
commercial bills. $4sSk94s54.
Silver certificates. $3.50 last bid. Bar sill
yer closed at $3.50 per ounce. At London
32d strong.
Total sales of stocks yesterday amounted
to go. 100 shares. with Sugar. General Elec-
trio. St Paul and Burlington leading. 1t
served in no degree to give tone TO the
share speculation that the movement of
gold TO Germany had been checked by the
decline in exchange. The announcement
that no more gold would go abroad for
some weeks to come CAV no support to q
market in which the sellers largely out
numbered the buyers. The feature Of the
Stock Exchange dealings was the deter
mined attack made by the bear clique on
New England, which sold ii down 31s per
cent. with never a rally beyond an occa-
sional 1lsc. the net loss on the day being
2s per cent The best opinion as to the mo-
tive for the raid is the opposition to Mr..
McLeod's project to gain an entrance for
New England into New York city, and they
desired TO depreciate the stock in the hope
of embarrassing him in the completion of
his plans. y drive was also made against
ST Paul on the publication of the earnings
for the second week In December. showing
a decrease of $11, SIS, which is heavier than
was expected. The selling was not all by
was also placed on the market, the
decline which followed continuing un-
I'll the final dealings when a depreciation
in value OF la from the highest point OF
the morning had been effected with only
a recovery of a at the close.
Sugar was next in point Of activity, and
was strongly held in the early dealings.
advaneing z per- cent but then giving
cent, or which u per cent. was recovered
in the final sales. The preferred stock
hundred share lots. General Electric had
also TO bear the brunt of a bear attack,
which was most pronounced in the late
dealings. The stock was somewhat sensi-
tive in view of reports of the commence
ment of suits against the company on diff
ferent causes OF action, one being that it's
After "A = advance from the opening the
shares dropped pa. recovering q in the
The general market was heavy at the
opening, but the early decline was merely
fractional, and during the first half hour of
business prices were fairly well maintained.
Then came the bears to the attack, and
the hammering of New England and St.
Paul depressed the entire list, which YIELD
ed easily in the absence of supporting buy
ing orders from abroad or az home. what lit
tie the London houses did being on the short
side OF the market. Shortly after IL o'clock
there was a fractional recovery, but after
midday the pressure TO sell became more
pronounced than ever, and for the rest of
the afternoon until a few minutes before
the close the course of values was down.
ward on an active market in which the
transactions were well distributed. Some
purchases 10 cover short contracts brought
about a slight recovery in the final dealings
and the market closed a shade better. but
at a decline compared with the closing fig
ures OF saturday, ranging from "a TO 5 per
cent. In which every stock traded in, with
two or three unimpOrtant exceptions. par
ticipated.
The following table. prepared by James F.
Berry. Room 16. Board OF Trade, shows tina
range OF quotations.: