The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-09
STOCKS DEPRESSED
EFFECT OF THE PRESIDENTS les
SAGE In WALL STREET.
Defeat Of the administration Bill In
The House Also shares
Local Grain Market Flat.

At New York. yesterday money on call
was more active at 1875 per cent; last
loan, ~; closing, ~ per cent
Prime mercantile paper, 3i2Qo per cent.
Sterling exchange was easier, with actual
business in bankers bills at s4.SSh44SS2s
for demand and at S.s7ls04s7% for sixty
days: posted rates, sI.S7AG4.sS1a and s4.S9@
i. 4.ssis; commercial. bills. ~$.S51A94soA.
silver certificates, $3.50 bid; bar silver,
5sNc: Mexican dollars, 4si9c.
Total sales of stocks were l24,131 shares,
including the following: American Sugar,
1900; Burlington, $500; Chicago Gas, $500;
General Electric. 11,6Oo; Louisville & Nash
vile, $500; Northwestern, 1900; Rock ISL
and. $500; S.. Paul, 1890; Western Union,
The effect of the Presidents message to
Congress. announcing the amount and the
terms of the proposed government loan, was
to depress the stock market yesterday and
to encourage the bears to make demonstra-
lions against speculative. values. The news
did not reach the street until late in the
afternoon, and all of the facts necessary to
q full understanding of the transaction were
not in the possession of the street at the
close of business. A Washington dispatch,
received from j. p. Morgan, one OF the
bond syndicate, stated that 1.-The syndicate
sells the Secretary of the Treasury 100000
ounces of Standard American gold at about
S17. S01a per ounce. payable in the United
states thirty-year four-per-cent. bonds"
Taking this as the basis of the terms the
syndicate will receive bonds to the amount
of $62.317, 500. The gold. when coined by
the government, will be equal to $1S.601s
per. ounce, which will make the coin value
TO the Treasury Department of the SUM re-
ceived from the syndicate s6o,1l7.5W. which
gives a premium on the bonds aggregating
$780, 0O, and makes the price to the syndi-
cate 1.04494.
Although the total sales of the day in
the stock market were nearly double yes
terday's the speculation was dull. espe-
cially during the morning. The defeat of
the Springer bill yesterday caused a weak
opening, and induced moderate sales of the
ence in the market, and, with an occasional
slight rally, prices sagged off quietly
throughout the day until the Presidents
message was published, when the bears
a brisk downward movement, which contin-
ued in force at the close. The loss on the
day ranges from v to, 1M, the latter in
ket in point of activity; IL in New Jersey;
1A In Northwestern and st. Paul & Omaha,
IL in Western Union, us in Burlington,
st. Paul. Chicago Gas. Louisville & Nash
ville.- Delaware. Lackawanna & Western
and Lead, and l in Rock Island, Manhattan
and National Starch firsts preferred and
Edison Electric of New York, showing
gains of 2 and ~ per cent, respectively.
The railway bond market of the morn
ing was characterized by unusual dullness.
The trading in the late session was more
animated and irregular in prices attending
the dealings, but towards the close the
retrogreSsive movement was more marked.
The total sales were 1851, 900.
Government bonds were firm; State bonds
were dull.
The following table. prepared by James
z. Berry. Room 16, Board OF Trade, shows
the range or quotations: