The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-28
STOCKS WERE TICKLE
HEAVY SLUMP FOLLOWED An
NoUNCEMENT OF A DIVIDEND.
Affcrwnrd There Was a Rally and
Most shares Closed
Markets Fairly steady.

At New York, yesterday, money on call
was easy at 1 per cent.
Prinle mercantile paper, 2zq5 per cent.
Sterling exchange was firm. with actual
business In bankers bills at AS7Aq4s7ta
for demand and As6hd4.s6% for sixty days:
posted rates, ~$lssxa4s715 and sLssq4.ss1z;
commercial bills. A&G4S5A.
Silver certificates. s2Ac bid.
Bar silver closed at 62sc per ounce; Mex
lean dollars, 50Ac; at London bar silver
closed at sid.
Total sales of stocks to-day were 1885
shares. including: American Sugar. $500:
Burlington. 1900; Distilling. $500; Erie. H.
400; Louisville & Nashville, 200; New Jer-
sey Central, 1900; Northwest, 1920; Read
Ing, 800; Rock Island. $500; st. Paul, d.
300; Western Union, 1000.
Although the general impression yester-
day on Change was that the directors Of
Northwest at their meeting would scale
the dividend, there was so much OF the
element OF doubt in the situation that
many of the shorts went to cover, and
their purchases counteracted to some ex-
tent the selling Of other operators. so that
only a loss OF q per cent. was made from
Monday nights closing price. This decline
was quickly recovered, and. on the circula-
ton of a report that the full dividend had
been declared, an advance Of 22s per cent,
TO 30. was effected. The true announcement
coming shortly after. caused a break of 2
per cent. but the ready absorption of the
stock offered for sale and a realization OF
the fact that the full 2z per cent had
been earned caused a revulsion of feeling
and induced buying that brought about a
recover of / per cent. making an actual
gain of * per cent. on the day. The sister
choroa rnouoI vpnnofbofscoI prfrI,pOfop
rece1ed -, advanced rs, broke Ia, and raj
lied = in the final safes, closing Is higher
than on Monday. st. Paul moved within a
range OF y per cent. also making a net
advance Of Is Rock Island iuctuated with
In the still. narrower limits OF u per cent,
and gained "a per cent. The coal shares
advanced steadily throughout the day. Lack
awanna selling up 213: Delaware & Hudson.
rs; New Jersey Central, Ia. and Reading "a.
Erie was adversely affected by the publ
cation OF the annual report showing a &C.
crease OF over $2,o00,0o0 in net earnings,
which. IL Is said, will necessitate material
changes in the plan OF reorganization. The
stock broke 2 per cent. TO 1054, with a rally
Of only - at the close. TIL general market
opened heavy and declined a fraction in the
early dealings. which was followed by a
slight rally The speculation then lap5ed
into dizziness and was without special move
ment until about 1890 O'Clock, when an
upwardm movement set in which was checked
by the break in Northwest, and there was a
general reaction During the last hour the
sugar, which was heavily bought, and the
speculation closed strong in tone, with
prices in the active list at or near the best
of the day. Among the principal advances
are: Sugar, 49, Pullman, I, and Chicago
Gas IS In tie list Of declines are: NationaI
Starch. ~: ST. Paul, IA, and Tobacco com
mon and New York Central / per cent.
The bond market betrayed heaviness dur
ing the morning, but in the afternoon the
speculation was Influenced by the strength
OF the share list. and the market closed in
good tone. A transaction of some note was
the sale of a block of 100, 900 West Shore
fours at 105is. The sales for the day were
$.0Sl 800 and the principal changes are: Adj
vances: Duluth & Manitoba irsts, 91s;
Brooklyn elevated firsts. 2; Brooklyn ele-
waited seconds, 3. Declines-Louisville, Ev-
ansville e. st. Louis consul fives, So per
cent. and Chicago & Erie incomes and
Green Bay firsts, ?.
Government bonds were firm. State bonds
inactive and railroad bonds were firm
The following table, prepared by James
T. Berry. Room is, Board OF Trade. shows
the range of quotations: