The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-21
BEAR DAY ON CHANGE
TRADING ACTIVE AT NEW YORK
AMI PRICES TENDING DOWNWARD.
Industrials Get the IBrunt of the Sell
ing Force-Indinnnpoiis Cereals
All Higher.


was easy at 1 PEI cent.
Prime mercantile paper. 2lzd5 per cent.
Sterling exchange was firm. with actual
business In bankers bills at $.sSAG4s9 for
demand and at $ls7Q4S7h for sixty days;
posted rates. $4.s7a4s9; commercial bills.
s4aG1z64ssA.
Silver certificates, e4a65c. Bar silver
closed at 624c per ounce; at London. 2slzd.
The New York weekly bank statement
shows the following changes:
Reserve. 81 ,635, $50
Loans, decrease 1920
Legal tenders, decrease. .......... 2,027,OO
Deposits, OBSERVATION-DISCLOSURES. $500
Circulation. 4+2O
The banks now hold $7S. 999. 125 in excess
of the requirements of the % per cent. rule.
The total sales of stocks amounted TO
425.672 shares. An active business was done
on the Stock Exchange during the two
hours of trading Saturday, but it was on
the bear side of the market. and resulted
in the establishment of a lower range Of
values In the great majority Of the stocks
dealt in, the Industrial group being the
heaviest sufferers. a pretty general adj
vance was made in the early dealings,
which was. however. only fractional. and
which was not participated in by
Sugar. The market was then held
until 1890 o'clock. just about the
time the bank statement was issued, when
a heavy selling movement was organized,
which sent prices down rapidly, with in
dustrials in the van. There was nothing
in the figures of the statement to cause
alarm, the changes being unimportant and
the reserves being 100000 against less
than So. 10000 a year ago. The only I'M
favorable itsm was the small decrease in
loans, which reflected the prevailing dull
ness Of trade. The prevailing condition Of
~stagnattonIn commercial circles is, perhaps,
the most serious obstacle in the path of the
stock market, and the weekly trade jour
mas 134k a particularly eioomy v,ew 81
deal or long stock came out and shorts con-
siderably increased their lines. In the late
constitutional objection to leaving their lines
uncovered over Sunday came on the market
a tone Of APPARENT armness in the specula-
ton at the close. The business was heavi-
est In the industrials-
The market for the week has been gen.
orally a falling one, and some heavy de-
clines are recorded, compared with the clos
ing figures Of Saturday last, the more i'm
portant ones being: Sugar, liz; Sugar pre-
ferred. W Pullman, q; United States Cord
age preferred, q; United States S; C9rdage'
first prefeire s; Nickel-plate second pre-
ferred, 3A; Cordage. 5h; Cordage preferred.
Wheeling & Lake Erie common. "a; Rub
Der. as; Great Northern preferred, Missouri
Pacific and Metropolitan Traction Company,
4; Tobacco. rs; Cotton Oil preferred and
Iowa Central preferred, ga; Omaha. 3s;
New England ~; Erie preferred and
Louisville & Nashville, 3A; Lead, 3s; st.
Paul, 3; Western Union. st. Paul < Duluth.
Quicksilver preferred and Atchison, ga
SuSQuehanna * Wetsern preferred, Louis
vile, & New Albany preferred, Illinois Cen
trail and northwestern preferred. 2lz; North,
western common, rs; Richmond Terminal
preferred \ and Edison Illuminating, "a;
Rock Island, rs; Chicago Gas and Distill-
ing, ]. and Burlington, Is General Elec-
trio Is unchanged during the week.
The railway and miscellaneous bond mar
speculation. Peoria & Decatur frsts sold
at 50, against S713 on May 3. On the trans
actions of the week the principals declines
are: Kansas City & Omaha firsts. % per
cent: Erie hves, coupon, 8; Toledo & Ann
Arbor firsts. Z: Peoria, Decatur & Evans
Louis & San Francisco consol fours, Erie
second consol trust receipts, Peoria *
Eastern frsts and Omaha & st. Louis
ex-funded coupon fiveS, ex-funded coupon
firsts. c., c., c. & st. l. sinking fu q
sevens and Southern PACIFIC of Cal
Louis & New Orleans irsts con
soils, 4; Kansas Pacific c~onsols,
ga; Wabash debentures. series b, and
Northern Pacific firsts. 3; Northern Pacific
registered, 81; Northern Pacific coupon
seconds. a; Northern Pacific coupon thirds.
so; Northern Pacific terminal firsts, Ia
and Northern Pacific consol fives, l per
ST. Louis & New Orleans gold fives of
bA per cent.
Government bonds were firm. State bonds
were inactive.
The fcIlowing table. prepared by James r
Berry. Room l6, Board OF Trade. shows the
~.-.4 - nr-04oNf.a