The Indianapolis journal., 1893-11-17
ALL SORT OF RUMORS
Talk of 800, 100000 Loan Stirs
Up Things on Change.
Firmer and Steady Market at Higher
Figures Prevailed-IndiaDapOliS
Cereals Ranging Easy.

At New York yeserday money on call was
quoted at 1G1h per cent, the last loan being
at IL. closing at 1lz.
Prime mercantile paper, 412d6 per cent.
Sterling exchange was firm, with actual
business in bankers bills at $i.S4Aq4.S5 for
demand and s4S21z@4S2s4 for sixty days;
posted rates, $LS9G4.S6; commercial bills,
$a04aA.
Silver certificates, 7O1z cents. Bar silver
closed at 6e14c per ounce; at London. % 1-16d.
Total sales OF stocks to-day were 1880
shares.
The departure for Europe of Assistant
United States Treasurer Conrad n. Jordan.
accompanied by ex-Secretary of the Navy
b. +. Tracy, revived the reports yester-
day which were current some time ago in
London that the government was negotiat-
Ing for a hundred million dollar loan in
England. Although promptly denied at the
subtreasury, where it was stated that Mr..
Jordan was on leave of absence to attend
TO private business, the incident was used
to bull the market the prospective bond
issue being accepted as favorable to higher
speculative values. A covering movement
was the result, and there was also some
buying for the long account, which i'm
parted a strong tone to the early dealings
1t did not take long, however, for Wall
street TO realize the improbability OF the
bond story, and then the traders took the
other side of the market. RumOrS unfavor-
able to General Electric coming to hand
that stock was hammered down A per cent
1t first stated that the company'S books
being examined in the interest of a party
OF stockholders had disclosed certain dis
agreeable facts, and this being denied 1t
was asserted that the stock pledged for q
loan was being lquidated, and that an
amalgamation with the WESTINGHOUSE COM
pany about to be conSummated on
"a la pOnQpTn
than to General Electric. When the pres
sure 70 sell was removed the stock recov-
cred per cent. The general market was
not seriously affected by the raid on Gener-
al Electric, and about IL O'Clock good
many buying orders were sent in to the
quotations 1sQD1as per cent Toward noon the
market became quite stagnant and in the
@ a6senee nee OF buyers prices So generally sagged
prevailed, accompanied by an improvement
ranging to IA per cent. small fraction of
final sales, but the general market closed
firm at an advance on the day of AG2 per
cent, the later in Rubber, common. ~ in
ga, rs in Cordage and Canada Pacific, and
Ia in New Jersey Central. A few shares
showed a decline compared with the final
sales of yesterday. notably General Elec-
tric. 22s; Manhattan. liz, and Pittsburg. Gin
cinnati. Chicago & st. Louis. 1 per cent.
Car Company sold at So, the last previous
rates made Sept. II having been at 9215.
In. the railway and miscellaneous bond
market the features of the dealings was the
activity OF the Reading issues, large blocks
of which were purchased at advances of
e per cent In the first and second preferred
incomes, and y I'm third preferred incomes.
The general market was also strong, and
high range of values was established for
the most of the issues traded in, the chief
being per cent in Missouri Pacific cOnSol
SKIES "a in Alton & Terre Haute second
preferred sevens. A special meeting of the
directors of the New York & New England
railroad viii be held in New York on Satur-
day to consider the proposed extensions by
which entrance into New York is to be Sc
cured.
Government bonds were steady. State
bonds were inactive.
The following table, prepard by James z.
Berry, Room 16, Board of Trade, shows the
range of quota tiOnS.