The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-06-20
DULLER ON CHANGE
NOTHING IN SIGHT TO LIvEN Up THE
STOCK MARKET.
Severe Attack on Union Pacific shares
indianapolis Grain Continues
In u Rut.

At New York. yesterday. money on call
was easy at 1 per cent.
Prime mercantile paper. 2AG41k per cent.
Sterling exchange was firm. but dull, with
actual business in bankers bills at $SSA
for demand and at A.s7A for sixty days;
posted rates, A.sS1A04.90; commercial bills,
s4s6Z.
Silver certificates. 64d6sc. Bar silver
closed at 62Ac per ounce; at London, 2Slzd.
Total sales of stocks reached only Ill sol
shares. with Chicago Gas leading. The ac-
tion by the New York city banks yesterday
in deciding TO furnish gold for export as it
may be needed, without recourse TO the
United States treasury. will undoubtedly
have a beneficial effect on the Stock Ex-
change markets. 1t will, however. be
largely a m influence, for the
fact is that the gold export business has
about reached an end. and any further
drain on the treasury, had the banks con-
tinued boarding specie. would necessarily
have been light. 1t is probable that this
action was based on the conclusion that
the banks would not be called on for gold
to any large extent. But perhaps the most
potent reason for this reversal of policy
by the city banks was a fear that the
country at large would look with dis
favor on the spectacle of the heaping up
OF al unnecessarily large gold reserve in
the metropolitan banks while the United
States treasury surplus was being depleted
and had reached an unusually low point.
But whatever the motive the decision of
the banks to supply gold needed for the
immediate future will undoubtedly have
the effect Of inspiring confidence in specu-
lative values, and is likely TO be reflected
N an increase of activity on the Stock
Exchange.
Tharo e. ~o0I "a oA-n44kf.- 60 nnf life
in the share market. Monday was dull,
yesterday was duller and the trading was
f neiayiYe: te a I marker ope Pec,s Gueu an "a
and Sugar l per cent. lower. In the early
dealings a better tone prevailed. Sugar
other shares a smaller fraction. The i'm
provement, however, was not lasting and
under a slight tendency to sell prices took
on Union Pacific by the bear traders in
the, hope OF bringing out some long stock.
shares broke from 121z at the close Monday
TO ga. with only a rally of y at the close,
Wsre mn a IN lo sSrc oil rs ion on tbs s1e Jay. numo RS
a heavy stock assessment under the re-
organization plan. and that the United
ment OF It's debts. Very little was done
in the general list between IL o'clock and
1890 and values changed but slightly dur
vanced the speculation became depressed,
pistiliing receding IS Erie ~; Pullman
49, NL@ liz a = <AOOdI
2 o'clock a still further decline was re-
corded of IL in United States Cordage
and from q down In other shares. A
slight rally followed on the covering of
shc-t contracts and the market closed
steady. A decline was established of 3
per cent. in Alton & Terre Haute. Adams
Express sold at $50, against 40 the last
previous sale. No other shares changed
more than a fraction.
The bond market was steady i'm the
morning. but became heavy in the after
noon and closed weak. The leading
chances wore. Dacliuae-ITpian Doog0o
sinking fund Fights. 8; Iowa Central frsts.
Ia; Northern Pacific seconds. 1%: Northern
Pacific consol fives, Erie seconds, consoI
trust receipts. Kansas Pacific consols and
Kansas Pacific sizes of 1896. 1 per cent.
AdvancestTexas Pacific, eastern division,
SKIES. 2; Peoria, Decatur & Evansville.
Evansville division firsts. Alton & Terre
Eaute dividend bonds. l per cent. North
ern Pacific terminal hrsts sold at 100.
against 81 on June 13.
Government bonds were firm and State
bonds were dull.
: The following table, prepared by James E.
Berry, Room 16, Board of Trade, shows the
range Of quotations: