The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-12
STOCKS DEPRESSED
GENERAL DECLINE FOLLOWED A
PILE Of SELLING ORDERS.
bond business Firm. but Securities
Not Largely Dealt In-LocaI Mar
kets Continue Firm.

At New York. yesterday. money on call
closed at I per cent.
Prime mercantile paper. 3631k per cent.
Sterling exchange was firm. with actual
business In bankers bills at sl9O9f.9ok for
demand and s4ssa4s9A for sixty days:
posted rates. sls994.S9lz and $-90d49oiz;
commercial bills. AlsS94.s4.
Silver certificates. 67Bae7zsc; bar silver.
ss7sc; Mexican dollars. 5S%4c. At London
bar silver was 30lzd per ounce.
Total sales OF stocks were 275.000 shares,
including American Sugar. $500; American
Tobacco. $500: Burlington. 1900; Chicago
Gas. 5000; Distilling. 5000: Louisville &
Nashville. 5000: Missouri Pacific. 500;
Northwest. 400: Reading. 10000: Rock ISL
and. 500; ST. Paul. 1850; Tennessee Coal
and Iron. $3.50; United States Leather. $500;
United States Leather preferred. 9.io0;
Wheeling and Lake Erie. 1900.
The crops were the chief factors of the
speculation on the railway list on the Stock
Exchange, yesterday. Private advices from
the West were directly contrary to the
terms Of the government report, which fore
Swallowed an unusually heavy corn crop
and a good spring wheat crop. The bears
used the unfavorable reports TO depress
prices. and succeeded in forcing down the
grangers and other stocks of the railway
group, despite the fact that the pessimistic
views received no confirmation from unin-
ferested sources. The industrials section of
the list was manipulated by the cliques of
professionals. VINO are in control Of these
stocks for the present.
The speculation was. in the main, in the
hands or the traders. who are now chiefly
bears The foreign element bought early
In the day and became sellers later, but
> their operation did not offset the market to
any appreciabie extent. At the opening a
firm tone prevailed. Chicago Gas selling up
LIS. and the other stocks traded in a frac-
ton. except New England, which broke rs
per cent. on small sales by a prominent OPP
orator. at a time when no supporting orders
were on the board. The grangers were soon
S Sflsesea c asa se Hans OFF may IL. 's tennessee ess Coal
IL. Missouri Pacific 1%, Sugar and Tobacco
IL and Manhattan and Susquehanna q
day a slight rally took place In the general
list. and Tennessee Coal moved up Ia per
cent, but in the early afternoon the selling
downward turn. Leather preferred receding
31z per cent, Sugar "a. Chicago Gas and
Louisville & Nashville 1&. Tennessee Coal
Ia and Tobacco and Susquehanna & West
ern preferred ! per cent. At the lower f1g-
ures there was covering of short contracts,
and a general Improvement OF prices fol-
lowed, which extended TO only a fraction,
except in Leather preferred and Susque-
hanna & Western preferred, both or which
gained / per cent. The market closed firm,
but at a general decline ST hq2ls per cent:
on the general list. Adams Express sold
at 147is. against 1875 the last preceding
sale. Toledo. st. Louis & Kansas City pre-
ferred sold at 1914, against 1212 the previous
sale. Iowa Central preferred is up 2 per
cent, Erie preferred rs.
The sum total of the sales in the bond
market was but S1,osO.o00. the smallest days
business for some time. The tone of specu-
lation was firm. but there are few changes
OF note in prices. Louisville & Nashville
general skies and Western North Carolina
6rsts advanced Ia per cent. Lake Shore
frsts, registered. IL, and Texas & New Or
leans consol fives and Iron Mountain fives.
I per cent
were dull.
The following table, prepared by James E.
Berry, Room Is. Board of Trade, shows the
range OF quotations.: