The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-07-31
STOCKS WERE WEAK
SPECULATION UNSETTLED On THE
CROP SCARE IN THE WEST.
IndustrfnIs Held Strong and Sugar
Advanced 1-S-At Indianapolis
wheat steady and other Grain Up.

At New York yesterday money on call
was easy at L per cent.
Prime mercantile paper, 3G5 per cent
Sterling exchange was firm, with actual
business in bankers bills at $4.SS1s for de-
mand and at $4s71z for sixty days; posted
rates. ASSd4S9; commercial bills, $4SsA0
4.66h.
Silver certificates. 64a65c. Bar silver. s22c
per ounce; Mexican dollars. 5OAc. At Lon
don. bar silver. % 13-16d per ounce.
Total sales of stock amounted to 137, PSI
shares. American Sugar having SO, 500 and
Burlington q, 100. The week opened on the
Stock Exchange with an unsettled tone to
the speculation. which quickly developed
into weakness. In the railway list, and
more particularly in the grangers, was the
depression greatest. Advices from the corn
belt were very ~unfavOrable. reporting Sc
we're injury to the crop by the protracted
hot weather. This naturally revived the re-
ports touching the next dividends, which
were more pronounced than ever against
the payments at the regular rates for the
current quarter. Bear figures were given
out to prove that the earnings would not
justify the declaration of dividends at the
usual rates. and the shares were
down on the hope of bringing out long
stock and disclosing stop orders. There
were Western selling orders in st. Paul.
Rock Island and Burlington & Quincy. the
latter stock also being sold by Boston.
London was a seller of St. Paul. This lat
ter stock was we'll held and gave only q,
with a final recovery of IS. One reason for
the comparative frmness of st. Paul Is
uhat the short interest therein is still large
and the traders are ~indisposed to go short
Tor any very large amounts. Burlington &
Quincy was most largely pressed for sale.
and the TIImOT hangers were most farffla %
TO its uninviting future. resulting in a de-
cline OF IA, with a rally of a. Rock
at the close, while Northwestern dropped
:, closing above the lowest figure
touched. The general railway list was
weak during the greater part of the day,
with occasional slight rallies, and the mar
ket closed heavy, in some cases at the low
in a fraction thereof. The declines exceed
ing a fraction are: st. Paul & Omaha and
Kansas & Texas preferred. each 1 per
2; Edison Illuminating. Pa, and Alton q
1erre Haute, 3. The industrials did not
share In the general depression. and Sugar.
which led in uhe transactions, showed most
strength, selling up 2s on purchases in
duced by Washington reports, announcing
tnat the senate con1erees were steadfast
Realizing sales resulted in a reaction of
Is in the final dealings. Wheeling & Lake
Erie preferred has advanced 1s and st.
Paul & Omaha preferred and Northwest
preferred each show an Improvement of 1
per cent. on the last previous sale.
The railway and miscellaneous bond mar
ket was only moderately active, the total
sales being S32, 500. During the morning the
tone of the dealings was fairly firm. but in
the afternoon became easier and the mar
ket closed weak. The principal changes in
the day were: Declines-Atchison. Colora-
do & Pacific firsts, 2: Southern Pacific of
Arizona hrsts and Union Pacific sinking
fund eighths. l per cent. AdvanceslTo.
ledo, Peoria & Western firsts. ~.
Government bonds were steady and State
bonds were dull.
the following table. prepared by James
+. Berry. Room is. Board of Trade. shows
the range OF quotations.: