The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-05-29
DECLINE IN STOCKS
SPECULATION HEAVY IN TONE FROM
OPENING TO THE CLOSE.


At New York, yesterday. money on call
was easy at 1@11z per cent: last loan.
it2; closed at 1isc per cent.
Prime mercantile paper. 2i5a3Iz per cent.
Sterling exchange was a shade firmer.
with actual business in bankers bills at
A.sSafsSA for demand and $L.S714.s7H for
sixty days; posted rates. A.s71ad4.Ss and
A-SSE44.s9; commercial bills, si.s6A.
Silver certificates. 67A467%c: bar silver.
6s1sc; Mexican dollars. 53Ac. At London bar
silver was S0Ad per ounce.
Total sales Of stocks were 2s9,61 shares.
including: American Sugar, 1900; American
Tobacco. 1900; Atchison. 14.7OO; Burlington,
2o.1o; Chicago Gas. 1900; Distilling. Is. 400;
E.fe. $500; General Electric. 16, 400; Hooking
Coal and Iron. 800; Manhattan Consoli-
dated, 1900; New York. Susquehanna &
Western preferred. 500; Northwest, 900;
Pacific Mail. $500; Reading, $500; Rock
Island. 500; ST. Louis e. Southwestern
preferred. 800; st. Paul.. 2O.1OO: United
States Leather, 1920; United States Leather
preferred, 100; Wabash preferred. $500.
Speculation on the Stock Exchange yes
terday was heavy in tone. and there was a
steady decline in prices from the opening
TO the close of business. with one or two
exceptions. A selling movement set in at
the opening which, although OF only moder-
ate force, was continuous i'm its operations
and had the support of the foreigners as
well as the local traders. Chief among the
gloomy reports from the West and South
west regarding the growing crops. which
received confirmation in the sharp advance
In the grain market. The London market
for American securities was also weak and
this helped to lower ngureS here. General
Electric was strong in the early tradings
and rose lis per cent. on buying induced by
a vague report that the Company was to
supply the Manhattan Elevated road with
motors. The stock closed within Il per cent.
were notably heavy and the declaration of
! per cent. special dividend on the pre-
ferred stock did not land any material sup
port to the trading therein; the common
stock closed at 9r2. Susquehanna &
Western shares resumed their downward
reports regarding the company, TO wit:
That President Borg was about to resign,
and that Obligations entered into by the
common stock declined Ia to 1914, closing
at 1914; the preferred fell off ~. per cent.
10 -, closing at a recovery or 21s per cent.
that the earning capacity of the company
was TO be increased. An advance of IL
a per cent. Of which was lost in the sub
sequent trading. Alton & Terre Haute rose
sz per cent. on purchases of 600 shares,
s5Iz. the low point of the year touched on
Feb. Is. The declines made in the general
list from Monday nights closing or the
Dccl pTlCcS " TIT mOI1luS WERE. denver
& Rio Grande preferred. Northern Pacific
preferred, Lake Erie & Western, Minneapo-
lis & st. Louis common and preferred,
Michigan Central, Mobile & Ohio, Reading.
st. Paul e. Omaha, National Linseed and
Baltimore a. Ohio, 1 per cent; New Eng
land. IA; Northwestern. Union Pacific,
New Jersey Central and st. Louis South
western preferred, IL; Erie, 1%: Rock ISL
and, Louisville & Nashville, Illinois Central
and Cotton Oil, IL; Tobacco, rs; Sugar and
Buffalo, Rochester & Pittsburg, 2; Delaware
& Lackawanna, rs; Northern preferred, 8;
and Manhattan, 3&. An Improvement of 1
per cent was made In st. Paul, NJ. & NJ
Specufa ton closed heavy.
The bond trading was generally firm for
the greater part Of the day, but towards
the close prices yielded somewhat in SYM
pathy with the weakness of the share
speculation. The sales were 2,143,O 900.
Houston & Texas Central general tours re-
coded 25 per cent. to 661z, and recovered
to IS; Kansas & Texas of Texas fives adj
vanced y TO s., reacted to s21s and closed
at "a. Other changes OF consequence were:
2 per cent; Pittsburg. Cleveland, Chicago
& st. Louis four and a halls, series A, pa;
Akron & Chicago Junction firsts and St.
Paul NJ. & M. consol SKIES, 2. Declines
Chesapeake e. Ohio fveS regular and Du-
luth & Manitoba firsts, Dakota division
trust receipts, 4 per cent; St. Paul, NJ. &
NJ, Minnesota Union skies, 3L; Union Pa
cihc, Denver & Gulf firsts, IL.
Government bonds were firm. State bonds
were inactive.
The following table, prepared by James f.
Berry, Room 16, Board Of Trade, shows the
range of quotations.: