The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-24
SOME HEAVY SLUMPS
New York Stock Market Raided
from All Directions.
DistiIIers' ard New England We're the
Greatest Sufferers-No Session of
the indianapolis Board.

At New York, yesterday, money on call
was easy at 1Q1k per cent.
Prime mercantile paper, 31aG51k.
Sterling exchange was inactive with
actual business in bankers bills at $4.S6&40
4.d for demand and at $.S4Aa4S4lA for
sixty days; posted rates, si.Si and s4.S7lz;
commercial bills, S4S3hG4S31s.
Silver certificates. 699sc last bid. Bar
silver closed at 69hc per ounce; at Lon
don, S21sd.
The New York weekly bank statement
shows the following changes:
Reserve, Increase ....................N,7 6S. $50
Loans, increase. ..-.........-........... Sh9,lO0
Specie, increase. ACKNOWLEDGEMENTS. 912,500
Legal tenders, increase. .............. 1620, 600
Deposits, Increase. ACKNOWLEDGEMENTS. 3,296.60O
Circulation, decrease. ................. 199,900
The banks now hold s77,936.776 in excess
Of the requirements.
Sales OF stocks were 149 900 shares While
New England was the leading stock in
Saturdays speculation on 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, confirming 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 we'll informed as to the companys af-
fairs, was large seller of New England
When it became known that a directors
meeting Friday had appointed Messrs.
Mcleod, Prince. Armstrong and Err
vim a committee to raise the $500
600 required to meet the January
interest, thus confirming the general
belief that money had not yet been OBJ
tained, there was a rush to sell the stock
which became more pronounced when il
was rumored that the opposition company
had obtained control OF New England's
noatln8 debt with the object of forcing a
recelVersnlp. Under combined sales of long
STOCK ana for the short account the shares
broke 4as per cent. amid considerable ex-
duced some buying which resulted in a
recovery OF IA, followed by reaction of
on the Jay was 23s per cent. The only other
STOCK the sales OF which reached 10 900
shares was Western Union, which, after
made on Distilling, which sent il down 2as
per cent, being based on alleged advices
from Washington that the ways and means
committee had not yet definitely decided
20 increase the spirit tax. When the pres
sure TO sell was removed the shares quickly
rdiHeu ana closed los above the lowest
point touched. Atchison was held pretty
steadily throughout the day at one time
Della, Deais q higher than the closing figure of
yesterday. then reacting Is. and then re-
covering to and closing at yesterdays price,
Ihere was general rally in the final deal
ings. and the market closed firner but u
Q21s lower on the day, the latter
N IN, New. England and 1ss in Tobacco and
PPi n11 Ti and c., c. G. St. L. preferred:
l per cent and some few other shares are
small fraction higher. The transactions
uepreGiatlon In values, there being scarcely
a stock dealt In which has not declined from
the closing price of Saturday last. The
principal breaks are: Evansville q Terre
Haute. 16; New England, IA; Pullman. s:
Interior Conduit and Insulation. 49,: Cotton
Oil preferred. 6Ik; Cotton oil conmon o. oii
Morris Essex and Pittsburg c. c. G
& ST. l., 512; Western Union, 5l4: Alton 4,
Terre HaUte, Delaware d Hudson. Rubber
3, Distillng and Linseed oil, as: New York
Chicago & St Louis seconds preferred, Az
Susquehanna & Western preferred. AZ:
Manhattan AZ; Chicago Gas 43s; Atchison
"a; starch, AZ; Lake Erie & Western pre-
1fe dbedco Pitts36nrg Western preferred A;
At.
iowa central preferred 3l2; ST Paul. 3ss:
Lake Shore, ga; Hooking Valley, 3Is; New
Jersey Central Canadian Southern Mobile
q ONO and sugar preferred, 3; Sugar com
mon, "a; Lead common and preferred. 2zs:
New York Central and Consolidated Gas
ga; Delaware, Lackawanna q Western and
Rock Island, 23s Missouri Pacific and Min
neapoliS x st. Louis preferred 2I5: North
ern Pacific preferred, Chesapeake q Ohio
and Colorado Fuel and Iron, 2H: Union D.
ciic Nashville & Chattanooga, Baltimore e
ONO chicago, Burlington & Quincy Illinois
Central 2. The only shares which have ad.
Vanced on the week are Cordage preferred
l1s and Wells-FarSo per cent.
The bond market was weak excent for
the Atchison issues: the tours after reed
ing -, rose 2&: the seconds reacted Il
and advanced ~. oregon Short-Iine sixcs
declined AZ and recovered per cent
Louisville * New Albany consols declined
2l2 ST. Louis. Nandalia & Terre Hauta
seconcs guaranteed rose per cent The
principal changes on the week are: De-
clines, Duluth * Manitoba hrsts 1877: 81
Louis q San Francisco general SKIES. Ss..
Virginia Midland stamped guaranteed, &;
Chicago d Erie incomes, AZ. Oregon Nav
igation skies and Oregon Short-Iina sizes
I; Reading second preferred incomes To-
ledo. Peoria q Western frstS Atchison
Colorado & Pacific firsts and Atchison sec,
Minneapolis * ST Louis seconds, 1la.; De-
troit Union Gas consol fiyes, o.: Detroit
Lock sevens of 1907. SIG; St. Paul frsts
]. q II. Extension fives and ST. Paul e
Northern Pacific SKIES AZ.
Government bonds easier. State
bonds show nothing doing.
The following table. prepared by James E.
range OF quotations:
Open- High Low CHS