The Indianapolis journal., 1894-04-04
TOWARD LOW PRICES
Wall-Street Traders Note a Down.
ward Tendency in Stocks.
London Demand Falling Off and Specu-
latiOn Without Spirit-tndian-
apOlis Grain Inactive.

At New York yesterday money on call
was easy at 1 per cent.
Prime mercantile paper. 3G5ls per cent.
Sterling exchange was dull but frmer.
with actual business in bankers bills at
S4SSGt4Ss14 for demand and at Si.a44S7A
for sixty days; posted rates, S4.S714q4.S9;
commercial bills A.S52ld4S6.
Silver certificates 612.c. Bar silver closed
at 6ls.c per ounce bid; at London. 2s34d.
Total sales of stocks aggregated 1921 GOO
shares The movement of the stock market
was not interesting TO the street at large.
The speculation was spiritless and largely
confined TO the room traders who worked
with less concert of action than usual Lon
don was not repres ented very largely in
the dealings. and was. perhaps. more of
seller than buyer, some of the recent pur-
chasers lquidating their holdings. The
market was of that halting, hesitating
character which often precedes a decided
movement in the direction of lower prices,
but the most unfavorable symptom yet de-
veloped is the decrease of foreign buying.
The leader Of the market was Missouri Pa
cific. which was bought heavily. it is be-
Hsved for the account of an inside interest.
sending the price up 22t with a final re-
action OF g. The grangers made fractional
gains during the morning, bat fell off in
= Mondays final sales. st. Paul and
Burlington & Quincy showed the only ac-
tivity OF these shares, st. Paul being sold
on report that the earnings for the fourth
week OF March would show heaYier de-
crease than usual There was covering of
shorts in Reading, which was countCracted
by sales OF long stock, the result OF the
changes of stock being q decline Of
"a. The industrias were comparatively neg
lected and moved irregularIy, Chicago Gas
and DiStilling recording advances OF q and
= per cent. respectively, and Sugar and
General Electric making declines of q each,
while Cordage preferred lost per cent and
Rubber gained ~, Lead "a and Lead pre-
ferred u per cent. The other stocks prom
inent in the advance were Delaware x
Hudson, rs; Consolidated Gas, IA. Della
ware, Lackawanna. & Western, which lost
i per cent, was the only stock in which the
decline was above fraction. Colorado
Fuel and Iron preferred sold at 50. an ad-
vance OF per cent. the last previous
sale. In the final dealings the market was
improved in tone and closed generally firm.
yesterday as many STOCKS are to be found
below the line as above 1t. The report OF
the Canadian Pacific railroad for the year
ending Dec. 81 shows gross earnings of
tngs, T,7l,416. n decrease of $67S,931 surplus
for 1898. s3l7 .6s2; total surplus $7,961.213.
The railway and miscellaneous bond mar
ket was strong all day, and most OF the is
sues traded in recorded advances The prin-
cipal changes in prices are: Advances-Al-
ton & Terre Haute firsts, General Electric
debenture fives and Oregon Short-line con-
sui fives. each 2; Central Pacific SKIES of 169S
1&; Louisville & New Albany hves, Mis-
souri, Pacific conSol skies, st. Louis K San
Francisco seconds, Glass c, and Pittsburg
& Western fours. each az. Declines-In-
diana, Decatur & Springfield first trust re-
sold at 96, against SO on March l. st. Paul
consolidated sinking fund fveS sold at 81,
against lob on Jan. go
The following table. prepared by James
f Berry. Room Is, Board of Trade. shows
the of quotations.: