The Indianapolis journal., 1894-02-01
DULL In WALL STREET
Season Of Inactivity with the
Number of Trades Falling Off.
Damaging Rumor Causes a New Raid
Against Sugar Trust Shares-In-
dianapOlis Grain Flat.
S1,OOO,OOO

At New York, yesterday, money on call
was easy at 14G1 per cent, the last loan
at l, closing offered at 1 per cent.
Prime mercantile paper. 31kq5l2 per cent.
Sterling exchange was stronger, with ac-
tual business in bankers bills at s4.S70
ASIA for demand and SiS5G4S5A for sixty
days; posted rates, $4S644SS; commercial
bills, $4.S4Gt4.S4A.
Silver certificates, 677sc. Bar silver closed
at 663sc per ounce; at London. 30 13-16d
Total sales of stocks amounted to 10000
shares. The ebb and flow of the tide of
speculation grows more sluggish daily, and
the Stock Exchange is no longer the bust
ling place it used to be. Yesterday was
duller than any of the preceding days of in
activity. and the sales did not average
more than 2.OOO shares an hour, only three
stocks exceeding 10000 shares. In the usual
ly active list the changes at the close of
business, compared with Tuesday nights
final quotations, are insignificant, except
In a few of the specialties The market
opened firm. the only important change be-
Ing decline Of l per cent. in Union Pa
cific, due to sales for the London account
induced by a report that the stock would
probably be assessed % per cent under the
plan of reorganization. A decline Of an adj
ditional u was made the closing price be-
ing at recovery of Is. In the early deal
ings the trading was irregular. the ten
dency being toward lower prices, owing
rather to lack of buyers than to any pres
sure to sell, except in Distilling and Sugar.
The first-named was weak on Washington
adviceS announcing that the increase in
the spirit tax agreed on was only 10 cents,
without any change in the bonded period.
On free sales the stock broke Ia per cent
with final recovery of "a. A report that
the net earnings of the company would not
be devoted TO the payment of dividends
had been retired also had de-
pressing influence on the shares. Sugar
after an early advance of g was attacked
by the bear traders on reports that the COM
pany was in bad odor In Washington and
that 1t had nothing favorable to expect from
the national legislature. The raid sent the
higher; the preferred receded 81. Between
noon and delivery hour the trading was
light. and the movement of prices was in
significant except that Erie preferred ad-
vanced IL. In the latter dealings the Nickel
plate stocks were In demand by brokers,
said to be acting for the Vanderbilt inter
est. aud the first preferred rose 3I4 and the
second preferred per cent. 1t was report
ed that n dividend of per cent would be
declared on the first preferred. Delaware
& Hudson. on the annual statement show
ing that 10 71-lO0 per cent. had been earned
on the capital stock. advanced 27s per cent.
Wheeling & Lake Erie preferred, which
sold up rs in the morning. broke 21k. but
recovered iE per cent. C. c., c; & st: L.
advanced Ia after an earlv decline OF -.
and lost Is at the close. Michigan Central
was strong, and made gain of IL on the
day The market closed unsettled in tone,
leaning rather towards depression than
strength
The miscellaneous and railway bond mar
ket was generally strong throughout the
day. The feature of the dealings was the
Texas Pacific issues. which brought
into prominence by the receipts of buying
orders from Philadelphia, said to be based
on q proposition to exchange the seconds
for preferred stock. IT was also reported
that the company has paid all its floating
debt out of the earnings for 1893.
Government bonds were firm and State
bonds inactive.
The following table. prepared by James e
Berry, Room 16 Board of Trade shows the
range Of QuotatianS: