The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-02-25
MONEY, STOCKS AND GRAIN
New York Traders Struggling to Draw
the Market from Reading Influence.
Bearish Sentiment. However. Continues in
Wall Street-At indianapolis the Same See
Saw Business of Months Past Goes On.
THE BOND MARKET.

Railroad Issues Irregular I'm Movements and
Demand Falling or
At New York, yesterday. money on call
was easy at TO 8 per cent. the last loan
being made at 5. closing offered at 8.
ITime mercantile paper. 506l3 per cent
Sterling exchange was quiet but firm.
with actual business in bankers bills at
s4.s6 for sixty days and SASH for de-
mand.
The total sales of stocks were 500
ekares, including the following: Atchis0n.
la.sOos Chesapeake 81 Ohio. 6,100; Chicago
9as. Is. 200; Lackswanna. 1890; Distilling.
1920; Erie 5000; Louisville 81 Nashville.
$500; Manhattan. 5000; Missouri Pacific.
4.50O; National Lead. 9.7O0; National Cord
age, 20,S0O; New England. 127.900; North
ern Pacific preferred, 81. AGO; Reading. 1sO.-
900; Richmond Terminal. $500; Rock
Island, $500; st. Paul. $500; st. Paul IL
Omaha, 300: Sugar, 156.OG0: Union Pacific.
q. zoo; Western Union. ID. 700.
A decidedly bearIsh sentiment existed
IN Wall street yesterday morning. The
market, as q whole, again showed DIS
position to break away from the influence
of the sensational stocks. as their move-
ments were the result of special causes, and
not justified by the general situation. The
OQtRO OF kOiu IOI tO-IuOETOW wa IcUuCcu u
o mere nominal sum. and money was de-
cidedly easier than for some time before
the holidays. Reading and It's affairs oc-
cupIed still the most prominent POSITION
but there was q decidedly better feeling.
and. although transactions In Reading
were still large. the price was depressed
only q fraction. and a full and substantial
rally was In progress during most OF tho
en- tire day. Rumors of the worst kind were
persistently circulated, the chief OF these
being that the New England would GER
tainly 60 into the hands of receiver.
The decline was not checked, and the
stock closed weak. Only one other proml-
nent feature marked the dealings, which
was Sugar. The belief was general that
the liquidation in progress WAS for the ac-
count of the pool, and decline of nearly 5
per cent, to 111la. was established in the
forenoon. The appearance OF Mr. w hlte In
the crowd turned the course of the price
and almost full recovery was established
before the close. stimulated primarily by
his purchases. Among railroad stocks the
more encouraging advIces from the West
stitfened the grangers and all showed ma
terial advances at the close OF the day. but
the most prominent movement was In the
coalers. which have been unduly depressed
OF late by vague rumors of something TO
transpire of an untavOrable nature. The
general list showed firm temper and frac-
tnnal advance.
Railroad bonds were s0mewh hat irregular
in their movements. and the falling OF of
the enormous demands Is reelected IN the
comparative smallness of the business done
on the board. Reading incomes was the
strong point. responding to the strength in
the stock. The market closed active and
firm at improvements.
Government bonds were steady and firm.
State bonds were neglected. Closing quo
ratIoDs were: