The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-01
FEAR GOLD EXPORTS
TRADERS ON ,CHANGE ALREADY
beginning no GET NERVOUS.
Flow of the yellow Metal Eastward
Perhaps DoubtfuI-Locai Mar
kets Fairly Active.

At New York, yesterday, money on call
was easy at ~ per cent.
Prime mercantile paper, 3laGp41z per cent.
The sterling exchange market was strong
and higher rates actual business in
bankers bills having been advanced 1s4Ac
for both long and shor. bills. This brings
exchange UP TO the point at which ship
ments of gold would undoubtedly be made
under normal conditions, but it is not at all
likely that any gold will be exported. be-
cause IL Is known that exchange will be
drawn by the syndicate when the occasion
requires it in sufficient amounts and at
rates which will render unnecessary the
export Of the yellow metal. There is no
such pressing inquiry for bills as to make
the situation at all dangerous. Actual
business in bankers bills. $4.SSs4@4.S9 for
demand and at si.s714 q4.s71a for sixty days;
posted rates. s4.Ss ard sf.s91s1490; COM
merclal bills. $4S61S.
Silver certificates, e0ssc; bar silver, 6OAc.;
Mexican dollars, 4S1ac.
Total sales Of stocks were 204,6S9 shares,
including: American Sugar, 81 500; Ameri-
can Tobacco 1890: Burlington. $500; Chi
caso Gas, 1900; Distilling. $500; General
Electric, 5sGo; Louisville g. Nashville, 1850;
Manhattan, 500; New Jersey Central. 1900;
New York Central, 1900; Northwestern,
1o.4o0; Rock Island, $500; ST. Paul. 20,S0O;
Western Union, 500.
Share s. ,culation was more active than
for some lime past. but the market was
rather heavy, and prices. as a rule, closed
at figures below Wednesdays final sales.
There are special causes for the declines of
certain stocks, but the general factor in
creasing the depression was the fear that
gold shipments were imminent. Looking
at the question the light of current quo
tations for sterling exchange demand bills
there was some foundation for a belief that
considering that no shipments can be made
before Saturday. and that the bond syndi-
cate is in a position to furnish bills of
change at figures below the profitable ship
inent point. 1t was strained conclusion to
would be Eastward. OF course, it was the
bears who talked loudest of the resumption
to Pep a s tey 6e voe 81
the sales and consequently to depress
prices The, street. however, in the main
gave no credence to the d-shipmentWhe-
ory, and toward the close of business an
easier feeling was experienced in the ex-
change market, which was due to the
offerings OF bills by syndicate houses at
concessions for previously prevailing prices.
stocks in this market, there being also talk
there of United States shipments of gold
Louisville g. Nashville was notably weak
on liquidation from foreign as well as local
sources. induced by rumors- of threatened
rate. war and decreasing Of traffic. owing
the South. The stock broke 23s, to 1875, and
closed within y of the lowest point touched,
n greater number of shares having changed
hands than in many day The grangers
were weak under the influence of a heavy
movement In st. Paul, which was based on
reports cabled from London that the
declaration Of the next dividend was doubt
full A demonstration was made against
free selling was INDUCED in, with the result
of breaking the stock "a, to 953s. During
the afternoon the pressure to sell was with
rr11lV ri
is known to account for the liquidation in
the shares. but 1t is possible that some ac-
tion in regard to future dividends may
of the executive officers of the Vanderbilt
roads which is not known to the general
public. OF the coal shares New Jersey
Central alone was dealt in to any extent.
Despite receivership rumors Missouri Pa
ci1c gained "a on the day, no party in the
market apparently caring to take the risk
of putting out any extensive line of shorts
that he proposes to protect the property.
After delivery hour there was buying to
cover short contracts, which caused a
smart rally, and the market closed steady.
In the list of dealings are Lake Shore,
III; Cordage preferred and Manhattan, H.
and Pittsburg, c., c. & ST. L., b. & o..
Lead and Cordage common, l per cent
Leather preferred shows gain of Ia and
The morning bond trading was firm, but
rather quiet. In the late session there was
increased activity, and the speculative is
sues were generally lower, in sympathy
with the weakness of the share specula-
ton. The total sales were $755, 600.
Government bonds were 1sQA lower for
fves and steady for tours. State bonds
The following table. prepared by James
r. Berry. Room 16, Board OF Trade, shows
the range Of quotations: