The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-28
THE DEADLOCK SCARE
1t Hangs OverNew York Exchange
Like an Ugly Nightmare.
Light Business, with the Few Fluctua-
lions Observation-Disclosures Wheat
and Corn Steady.

At New York. yesterday, money ca call
was easy at 2a3 per cent. the last loan be-
ing at 21z, closing offered at 21s per cent.
Prime mercantile paper, 7Q1O per cent.
Sterling exchange was steady. with ac-
tual business in bankers bills at $4s6A@
4S7 for demand, and $4.s4AG4.S5 for sixty
day bills. Posted rates, A.S6d4.SS; CONNER
cial bills. s4SSAq4Ss1z. Silver certificates
not quoted. Bar silver closed at 74c per
ounce; Mexican dollars at 5SAc. AT Londo
the closing price of bar silver was 34sd.
The total sales of stocks were 147, 100
shares. The volume of business on Change
was much lighter than on Tuesday. and
the greatest activity was during the morn
ing. there having been periods of extreme
dizziness in the afternoon The Speculation,
too. while attended by less excitement. was
more feverish, as in a traders market an
upward movement was in progress in one
pool. while in another the tendency was
downward. Projected or problematic gold
shipments were not among the moving in
t~iuences, as the street seems to have come
to the conclusion that the day of export
has been moved forward Indefinitely. in
view of the easier tone of the exchange
market.
Every day that passes over the street
with the deadlock at Washington in the
silver question in force renders the spec
ulative situation more critical and in
creases the conservatism OF the finan-
cial institutions on which depend so large
ly the movement of stocks on Change.
Not that there is yet any hardening ten
dency in call loans, or in time money on
prime collateral, but the banks are as
stringent as ever in dealing with mer-
camille amer and lpqittmatN business ac-
co~mmodations are almost as difficult to
obtain as at any time within the past
three months.
Money Is quoted as easy, the bank re-
serves have been increased, and the finan-
cial situation on the surface is healthy, but
there is a real anxiety as to the future,
based on the great uncertainty that at
tends the solution of the silver controversy.
The Senate of the United States holds the
key to the situation and delays inserting it
into the lock. Mean While Wall street
waits and drifts aimlessly. one day to the
bull side, next day to the bears. To-day
the speculation was most unsettled and the
closing Irregular, but in the main weak.
After a rather firm opening in which a
majority or the active shares recorded
higher prices, there was a sharp selling
movement I'm which London was an active
participant. The bears raided the general
market and, with the exception of a brief
rally about noon. the tendency was down.
FNLNAa AOAAAt
OF the chief declines compared with the
closing prices of Tuesday were: Chicago,
Burlington & Quincy. rs; Chicago Gas,
Rock Island, Louisville & Nashville and
Cleveland, Cincinnati, Chicago & St. Louis,
q; Sugar, y. A squeeze of some shorts in
Delaware. Lackawanna & Western was
very neatly effected, the shares being run
up 81 per cent. and. when the corner was
turned, let off rs, but holding an advance
OF rs on Tire day. Wheeling & Lake Erie
preferred rose rs. and Louisville. New Al
bany & Chicago rose L.
The railroad bond market was irregular
and unsettled. Lehigh Valley terminal frsts
show a decline of IL per cent. compared
with the last previous sale made some
weeks ago. Government bonds were
steady. State bonds were unsettled. Clos
ing quotations were:.
-Four Ter cent. reg.1lO Louis. & Nash. 5OL
Four per CT. coup. Ill J.. K New Albany. 49,
Pacific 6s OF '95.. log Missouri Pacific. 22L
Atehlson.----.--- 1S4iN. j. Central .....lO4
Adams Express~-.l35 Northern Pacific 6La
Alton q t H----lS n Pacific pref 1888
Alton I. pref..15O Norihwestern..... 96as
American Exprss.106 ~Northwesrrn pr'f137la
Snes. Ohlo----- l52N. \. Central.---.l0OAs
~ Q.---..~- 79l4i Peoria. II. & E..
&C. x ST. L.. sos Pullman Palace. .l65
DDeI' LACK. "---l44lS Rock Island...--.. 81
1utt va! he-----.l40 y. !. Express-.... 80
LAKE fiie W 1I12iW.. 81. l.. & P..--- Z
-" pref---- 66l2lM W. 81. L. &P. pref 144
Iake Shore--"--.Ils IWells-FargO Ex.. $50
Lea0 1rusl.------- 25LlWesiern Union-..- 7sas