The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-16
STOCKS WERE ACTIVE
FURRY CAUSED By REDUCTION OF
NEW YORK CENTRAL DIVIDEND.
Heavy Sales of Sugar shares and "a
Decline On The Embellishments
Markets Fairly steady.


At New York, yesterday money OH call
was easy at 11402 per cent; last loan, lis
per cent; closed at u. per cent.
Prime mercantile paper. 3s4@5ia per cent.
Sterling exchange was firm. with actual
business In bankers bills at $4.S9n4s9l4 for
demand and s4.ssM4.SSA for sixty days;
posted rates. sESsAG490; commercial bills.
si.s7ls.
Silver certificates, -s2i4c with sales of So
Geo at &C. Bar silver, 615sc. Mexican dol
lars, 49Ac, nominally. At London bar silver
was % 1-1Sd per ounce.
One of the leading ballion brokers in
New York speaking of the recent advance
In silver, said to the reporter that it was
due TO speculative buying IN London, which
market governs the price Of the metal.
The chief factor in the rise was the ex-
pectation that peace would be maize be-
tween China and Japan, which would in
crease the demand for silver, Independent
of any war indemnity that might lie called
for, by opening rp the Chinese trade to
the world. The output OF silver had de-
creased materially within the past two
years and that fact, he stated, must be
taken into consideration in basing any cal
culations as to the present offerings of
silver compared with those of date pre-
vious to two years ago.
Total sales of stocks amounted tn 216 700
shares. including the following: American
Sugar. 56.i00; American Tobacco. 1850; Dis
1iiilng, 4,A0; General Electric, i),70U; Louis
vliie = -. Nashville, s,soO New Jersey ss Gen
YORK tentrai. TX dividend. 1000; New York
~ New Ensland. third assessment paid, ~
700; Northeastern, 1860. Rock Island, 5,leU;
$3.50.
There was active trading OH the Stock
Exchange. yesterday. bur the speculation
WAS irregular and in most cases the net
rssa n,s Of the days transactions Is the
The CHIEF Incident. from speculative point
Of view, was the declaration OF a one-per-
cent dividend by the directors OF the New
YORK Central. being a reduction Of X per
cent from the regular quarterly rate The
the Street Was not prepared for the state
dividend left a deficit on the quarter of near
~ S6l0, GOO The stock opened II per cent.
lower but on good buying an advance of
per cent. to 1874 was effected At the
OF the shares in anticipation of the reduced
dividend. which caused a break to 94i4
rou pp %bc Vas sYen bo a ne Seex
TO 95l4. At about this time came the news
Of the directors, action, and the stock
ticialty received on the stock Exchange.
It had been arranged that. on the exchange
being notified the stock should be at once
quoted. ex dividend, and the. first sale ex
dividend was at 93Ss, from which a decline
Of pei cent. was made to 92ss. a rally of
"a followed, with final reaction of Il,
making the net loss on the day Us per
cent. After an early break OF q Sugar
brokers On the receipt OF cable advIces
indicating that Germany was about to in
was organized which broke the stock
per cent. to 9SA- A one-per-cent. rally was
r. the loss on the day being 1 IL American
Tobacco broke per cent. on the failure
to hold the annual meeting and md, the he conse-
the annual report. The stock closed with
in v per cent. Of the lowest The coal
early dealings on reports Of agreement
on the allotment question, but later SELL
gains were lost. except in Reading, which
closed at the highest point touched an adj
vance of q. while Lackawanna is down
y from yesterday. A renewal of speculative
purchases in New England sent the price
up IL. the last being the best price touched
Boston account during the morning, sell
ing. W. lss 70 ao7s. In the afternoon there
&c Z. being recovered s at the close, e' and
leaving q gain of 1s. The other changes on
the day are frast iM except that II Central ia.
with improvements of the shares in the
London market, which was due to the sat
isfactory result of the shareholders meet
about steady.
Speculation in bonds was less animated
and there was an absence of the buoyancy
which characterized the trading Thursday
sb ds s aa ahf nas Gf
the speculative securities, but more ma
terial appreciation is noted in the active
mortgages. The Atchison, Texas Pacific,
Kansas & Texas and Northern Pacific issues
We're the most heavily traded in. The ag-
gregate sales were s1,442.000 The principal
changes are: Advances-st. Joseph &
Grand Island first trust receipts, 314 per
cent: Susauehanna & Western terminal
frsts. 3. Declines-Atchison. Colorado &
Pacific firsts, 3M per cent; Wisconsin Cen
trail incomes, 2. There was an active inquiry
for government issues, and $4,000 of the
new coupon tours brought 119M@120 and
100000 of the coupon fives brought 1151A.
The following table. prepared by James
r.. Berry. Room 1G. Board Of Trade. shows
the range Of quotations: