The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-19
ALMOST NEGLECTED
Trading on the New York Stock
Exchange Slow and Feeble.
Changes During the Week We're Slight
and Toward Lower Figures-In-
dianapOlis Grain Declines.

AT new York, Saturday, money on call
was easy at 1 per cent. all day
Prime mercantile paper, 319q5h per cent.
Sterling exchange was strong with actual
business in bankers bills at A.S7l4a4S7A
for demand and A512d4s5A for sixty
days; posted rates. ~$i.S61zg4ssA; commer-
cial bills. $4S4z44S4A.
Silver certificates, SIC. Bar silver closed
at 6S5sc per ounce; at London. 291sd.
Bar silver closed at $3.50 per ounce; at
London, 2Bd.
The New York weekly bank statement
shows the following changes:
Reserve. decrease. 81. 096, S75
Loans. increaSe.-.----.-...-..-"---. 6,a43,3OO
Specie, decrease. 9,212,' 700
Legal tenders, decrease...""....... 2,930,20
Deposits, 4,1S4. 100
Circulation, decrease. s.............. 447,300
The banks now hold s7i.536.7 z5 in excess
OF the requirements of the % per cent. rule.
Total sales Of stocks Saturday amounted
TO only $500 shares.
The market was practically confined to
five stocks. and of these only two. Sugar
and St Paul, displayed any activity, the
other three. Dfstilling. Chicago Gas and Bur-
lington & Quincy, being traded in only to
the extent Of between FIVE and seven thou
sand shares. The transactions in only three
other stocks exceeded one thousand shares,
while New England and Union Pacific did
not enter into the dealings at all. and there
was only one sale each OF Rock Island and
Louisville & Nashville. The general market
was, therefore. without feature, and the
only changes of Importance were a decline
of Ia per cent. in Rubber and an advance
OF L per cent, respectively, in Linseed Oil
and Delaware & Hudson. Sugar opened "a
higher, but began to decline at once on
heavy selling, which was largely on orders
from Chicago, which led TO a suspicion that
insiders would endeavor TO cover their
We're unfavorable, inasmuch as they stated
that no definite decision had been reached
on the sugar scheouIe: "A dechne OF a per
rally intervening. land though a Slightly bet
ter feeling prevailed in the final dealings,
only q per cent Private dispatches were
received subsequently,, reporting that the
Senate finance subcommittee had agreed on
n graded duty more favorable to the
sugar interests than was expected. st.
Paul moved up g on early dealings, but
reacted IS on the publication of the earn
ingS for the second week in February,
showing a decrease in earnings of 81, 742,
which is more unfavorable than was ex-
The liquidation In Distilling which has been
I'm progress during the past few days was
continued, resulting in a decline of rs per
cent, the last being the lowest figure of
the day. A slight bear demonstration was
made against Chicago, Burlington * Quin-
cy. which had advanced 4 in the opening
ohAAH6 AauCAllS a dCGIllC VI ~ DCI CGIl
without recovery. Dispatches from Chica-
go stating that a new gas ordinance would
be introduced in the City Council which
would meet the objections of Mayor Hop
kins's veto message caused a selling move
ment in Chicago Gas. The result was a de-
cline of is per cent. the stock closing at
the lowest point of the day. The tone of
the market at the close was heavy.
The changes on the week Were, as a rule.
slight, and are mainly in the direction of
lower prices. The principal declines are:
Cordage preferred. 5; Canada Pacific, ga;
Delaware, Lackawanna & Western, Pull
man and Pittsburg, c.. c., c.. & st. Louis,
2h: Nashville, Chattanooga, New York,
Chicago and st. Louis firsts and seconds
preferred, 2 per cent.
The main advances are: Erie preferred,
ga; Quicksilver preferred, ga. and Manhat-
tan, 2s per cent.
The bond market was moderately active,
but rather weak. Pittsburg, c., c. & ST.
Louis four-and-a-halfs, series A, declined 1
per cent. on the week. Government bonds
were firm. State bonds were quiet.
The following table, prepared by James r.
Berry, Room Is. Board OF Trade. shows the
Ho.10 n ~ 4Da