The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-19
DULL In WALL STREET
Professional Operators in Control
and Trading Restricted.
Probable Defeat of Unconditional Repeal
Is q Nightmare on 'Change-Indian-
apolis Cereals Lower.

At New York. yesterday. money on call
was easy at sal per cent. tho last LOAF be-
ing at Ga per cent, and closing at 313 "a
per cent.
Prime mercantile paper. 7010 per cent.
Sterling exchange was firm, with act
ual business in bankers bills at S4.S5k "a
ASIA for demand. and SASHA 04.s2ls Tor
sixty-day bills. Posted rates. S4.s3140
4s6ls; commercial bile. S4.s14 @4.S1h.
Silver certificates. 75A 077c. Bar SILVER
closed at 741ac per ounce; Mexican dollars
at soc. At London bar silver closed at
S49sd.
The dealings on the New York Stock Ex-
change yesterday were mainly confined TO
the professional traders. who play for
points. and who do not plunge very deeply
on either side. being satisfied with small
and quick profits. and accepting slight
losses rather than take the risk of bring
Ing prices back TO their figures. With such
an element In control of she speculation il
was not expected that the deaiing s would
be large or the fluctuations wide. The
volume of business was contracted and the
range of prices narrow. except
for some specialt,es. IN which q
In a heavy decline. There were come sell
ing orders from London. but they did not
cut any considerable figure in the trading.
They were based on the belief, which is
gaining ground gradually-abroad as well
as at home-tbat the inaction IN the Senate
and the dIlatory tactics of the silver States
Senators means the defeat of unconditiona
repeal and the disturbance of the national
finances. lt 10 the silver cloud resting over
the monetary situation that prevents the
many favorable conditions from having
eflect as on Saturday. when the bank state
ment. favorable though it was beg ond the
expectation OF the street. failed TO do more
than rally prices q fraction. So far as
the money market could be depended
on to influence the speculation
it was entirely favorable. The receipts of
currency from the interior were larger
both yesterday and on Saturday. and out
of-town savings banks are in the market
as purchasers of bonds sold during the
days when oil financial institutions were
strengthening their cash balances TO meet
q possible drain on their resources. But
this satisfactory state of monetary affairs
did not bring relief TO the depressed mar
ket. and except for an occasional rally the
market was weak throughout the day and
closed heavy. in many instances at the
lowest point touched. The chief declines
90. 4: Consolidated Gas. ga; Pullman
Palace and Chicago * Alton, 2;
Louisville. New Albany Il Chicago. Ia. and
Sugar. New Jersey Central. Lake Erie IL
Western and Richmond Terminal pre-
ferred. each. l peg cent. Louisville *
Nasville moved Independently OF the gen.
eral market. This stock is held largely IN
London and the floating supply here is
rather limited The borrowing rate was
put up 4 per cent, and caused purchases
which sent shares MP from 537s 10 56. the
closing price only Il per cent. below the
TOP notch.
The railroad bond market was generally
steady. the leading declines being Erie Sec
onds. 3. and Richmond * Dapyille skies. 1
per cent. Government bonds were steady.
State bonds were doing nothing. Closing
quotations were: