The Indianapolis journal., 1893-08-09
MONEY, STOCKS AND GRAIN
Receipt of the Presidents Message Re.
lieved Period of DulIness.
General Belief that 1t Will Have q Salutary
Effect on New York Business-Larger At
tendance on the indianapolis Board.
THE BOND MARKET.


Railway and Other Issues Dull and Weak
Sales Amounted S739,0O0.
At New York. yesterday. money on call
was easy at to per cent, the last loan
being at 2. CLOSING offered ct =.
Prime mercantile paper. TO IL per cent.
Sterling exchange was stronger. with ac-
tusI business in bankers bills at S4.sl0
As2 for sixty days. and 1850 i.s6ls for de-
mand.
Silver certificates were quiet. with sales
at 75c closing at 7414c bid and 75l4c asked.
Bar silver. 73lac per ounce; at London. S4d.
The total sales of stocks yesterday were
l94. 600 shares.
The volume business of the Stock Ex-
change was small again. only l94. .6l3 shares
chan ging hands. and the course of prices
continued irregular with the tendency, in
the main. downward. In the early trading
Chicago Gas. Sugar and General Electric
yielded TO 3ss per cent. and the re-
mand TO cover shorts there was q rally of
- to rs per cent. the latter in
General Electric. Following this
period of dullness. came the
Presidents message to Congress- on which
the traders in the room, most of W hom are
bearlshly inclined. made a sharp onslaught
on the market The attack was clearly
preconcerted, for it began some minutes
before Wall street had an opportunity TO
even scan over the contents of the mes
sage. General Electric as again the chief
sufferer, touching 1875. against 47i4 last
night The decline was mpanied by q
revival of the rumors that the proposed
plan TO pay OF the floating debt was excit-
ing increased opposition. Sugar touched
7O1s and Chicago Gas 4Ss4, decline from
ha arhn nf >ff ha
other leading shares held well and the
market WAS lm proving when the announce
ment of the suspension of Il. l.. Hotch kiss
~ Co. was made FROM the rostrum of the
exchange. On this Northwest broke 4
points. to 93. The changes otherwise.
however. were far less important. but
at the close the market was in the main
weak. The bulk of the selling tbroughout
the day was for professional account and
according to the commission houses CON-
paratively little long stock was forced ont.
While the traders took an unfavOrable
view of the Presidents message. the con-
age circles wac that the effect would be
salutsry on the public mind aud will help
TO restore confidence. The heavy importa-
tions of gold. and the belief that tho influx
OF the yellow metal will continue, must
also tend in the same direction. It is
stated on what is deemed good authority
that the arrivals of gold from Europe late
In the week will enable one or more of the
banks to cancel a considerable amount of
CLEARING house certificates.
Railroad and miscellaneous bonds were
dull and weak. The sales were S739. 900.
Chesapeake IL Ohio. Richmond * Allie
Quincy convertibles 3. to "a; Erie consol
seconds Ia. to 6414; Wabash firsts Ia, to %;
Wabash seconds 2, to 6Sls. Government
bonds were firm. State bonds were dull.
Closing quotations were:
-Four per cent. reg 109l2 Louis & Nash 543,
Four per CT coup. 1922 l.. x New Albany 10
Pacific 6's or '95.- ~102 Missouri Pacific. 1888
AtchisoD..---..--. l43l n. j. Central. l.--.. 90l2
Adams Express. 13S Northern Pacific.
Alton Il Il. H.. 25 n. Pacific pref. 20s
Alton "a. pref. 145 Northwestern. - 933s
American Expr'ss. 10Y Northwestern pr'f 135
Ches. & Ohio------ 1434 y. Y. Central..-.. 81 IA
C.. B. * Q...--....- 76l2 Peoria. d. & E..
C.. c., c. 4 st. L.. 32a4 Pullman Palace -141
Del. Lack. & W-..I36 Rock Island. ...... 567s
Fort Wayne. ....... lao u. s. Express. AS
Lake Erie * W. II W.. st. l.. & P. 71e
I. L. & w. pref. 55l2lW., ST. L.. & p. Pref 1919
Lake shore 21ofW ell Fargo Ex. 100