The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-22
QUOTATIONS. FALLING
Two Events Gave Wall-Street
Bears Much Comfort Yesterday.
Cautious Traders Are Not Dipping in
Stocks to Any Extent-Indianap-
oils Grain Held Firm.

AT New York, yesterday. money on call
was easy at 1011s per cent, the last loan
being at !, closing at IL per cent
Prime mercantile paper. Si4Q5l2.
Sterling exchange quiet and easier
with actual business in bankers bills at
s4s7a4S71s for demand and $4-s41zGLS4z. for
sixty days.
Posted rates. slS5I8G4SS; commercial bills.
$3.50 4s31z
Silver certificates $3.50 bid. Bar silver
closed at 6s1zc per ounce; at London, 321sd.
The total sales of stocks amounted to
$4,000 shares Two events calculated to
affect speculative values o Cured yesterday
morning before the opening OF the New
York Stock Exchange. One the clos
ing OF the New York ST. Nicholas Bank
Dy the State Superintendent of Ranking.
was important only that IL disclosed a
weak spot in the commercial situation but
" served the purpose of the bear traders by
keeping out of the market temporarily
operators for the long account. The other
was the death of George C. Magoun, which
was. perhaps. of greater moment from a
Stock Exchange point of view, because il
removed from the directory of the Atchison.
Topeka & Santa Fe Railroad Company its
chairman and most powerful financial sup
port at period when that corporation
needed all the help that wise counsel and
great resources could give to it. The banks
suspension led the bears to make a strong
demonstration on general stock values, ac-
companying their attack with disquieting
rumors of other impending troubles for
which there appears TO have been no basis
as the disaster to the St Nicholas
bank is due solely to Impairment
OF capital, the result of bad loans
and no other financial institution is in any
way involved in it's affairs. The market
opened active and though prices were ir-
regular there were no serious declines The
London market for American securities was
strong and there was some foreign buying
orders, but the bears made a concerted at
tack, using Distillng rs a wedge TO break
values in general. This stock which had
made an early advance of Il per cent was
forced down IA per cent. During the rest
or the day, however, the shares were well
neld, recovering rs per cent. and closing Il
nieher tnan on Wednesday, being the only
STOCK on the list which shows an advance
on the days transaction. Atchison was not
seriously attacked during the morning hut
during the afternoon rumors of receiver
snip were circulated, and Ii was limited that
the death OF Mr.. Magoun practically re-
moved the only hope of raising money To
meet the January interest disbursements. 4
free selllnS movement resulted and the
STOCK broke rs per cent, with recovery
al the close or - per cent 1t is said Presi-
OeIl ISeihnart, OF the company. Is preparing
a statement of Atchison affairs which is 10
he given out at the end of the week New
England led the market in point of activity
ana In the early dealings was fairly we'll
held During the afternoon the speculation
was feverish and prices tended downward
despite occasional rallies which occurred
whenever the pressure to sell was re-
moved The lowest prices of the day were
made in the first half of the
last hour, the coal shares and the Special
ties giving way materially. In the final deal
ingS there was some covering of shorts
10 which prices responded slightly and the
Closing transactions We're firmer in tone
Every stock traded in with one exception
noted above, shows a decline compared
with the final sales of Wednesday the
range being u TO per cent, most promi-
nent In the reactionary movement being
delaware, Lackawanna & Western and
P1ttSDurg AZ Western preferred 4; Evans
vile & Terre Haute, 3$4; Pullman, 3ib:
Atchtson, Chicago AZ Eastern Illinois pre-
ferred and Mobile & Ohio, 21b; Manhattan
"a; Chicago Gas and Louisville, New AL
pany * Chicago preferred, Ia; Sugar West
ern Union, Burlington & Quincy, St Paul,
chesapeake x Ohio and Cotton Oil, rs and
Missouri Pacific, Great Northern preferred
Erie preferred, Iowa Central preferred and
Susquehanna & Western preferred, 1 per
cent.
The bond market was weak, the features
The leading changes are: Declines-Atchi-
son Tours, 34s; Peoria q Eastern Illinois
q; Louisville, Evansville & St Louis first
consol fives, IL; Wabash seconds Northern
Pacific consol fives and Louisville d Nash
vile, each. l per cent.
Government bonds were quiet. State bonds
were duh.
The following table. prepared by James 2
Berry, Room 10. Board of Trade, shows ths
range OF quotations.: