The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-04
A SLUMP IN STOCKS
SOME SHARES YESTERDAY SOLD
LOWER THAN ANY 1894 MARK.
New Jersey Central Suffered from =
United Attack OF Bcnrs-LocaI
Markets More Active.

AT New York, yesterday money on call
was easy at 1qllk per cent; last loan at /
per cent; closed at l per cent
Prime mercantile paper, pa M4i2 per cent
Sterling exchange was quiet and steady.
with actual business in bankers bills at
s4ssss04ssa4 for demand. and at s4.s75s0
4.S7s4 for sixty days; posted rates. s4.ss5s and
1881; commercial bills, $4s6i104 S6as. Silver
certificates, $3.50 bid. last bid, no sale bar
silver, 59a4c; Mexican dollars, 4914c; at Lon
don bar silver was "a 7-l6d per ounce.
Total sales of stocks were III 1884 shares,
including: American Sugar. 30,4e0; Burlng-
ton. 1900; Chicago Gas, 1880; Louisville
e. Nashville, 800; New Jersey Central, 81
700; Northwest, 1860; Reading, 500; Rock
Island. $3.50; ST. Paul, 80, 400; Western
Union, 5000
The stock market was characterized by
weakness at the opening, which extended
to almost the entire list and some shares
sold at figures below the lowest point
touched during the year of 1894. to-wit:
Northwest, which sold down to 94%. against
96h, the low point of last year; New Jer-
sey Central to S5ia against 8a72, Reading to
12ss, against 1875 and ST Paul & Omaha to
31ls, against 81. st. Paul sold at 547s, with
in 5s of last years bottom figure In the
early dealings New Jersey Central was the
special mark of attack of the BEARS and
under brisk selling broke 81 to 851s the
stock coming. it is said from an insder
who, it is claimed, is liquidating his hold
ings. That the sales are of long stock is
made clear by the fact that the shares
could not be loaned fiat in the loan mar
ket. Other declines during the morning arc
Canadian Pacific. Q per cent: Laclede Gas,
~, and Chicago Gas, Northwest and Mich
igan Central, l, per cent Towards noon
there n In, bo 10, of
ulation, the downward movement being
checked and good buyers coming to the
market. This resulted In a general adj
vance In prices, Sugar moving up Ia Sugar
preferred, 4; New Jersey Central, lss; St.
Paul, Burlington, Lake Shore and Cordage
Baltimore Ohio or iM NoTt aasanteed Rock
Island, Manhattan and St Paul & Omaha,
1b and the s rest # the list. % per cent
T TssSrIs heavy heavy, dec1nes, NOTABLY
1as per cent. on London selling, mainly
WIN W.T. a q nnai recovery Of per cent In the
offerings of Consolidated Gas which caused
decline OF ga of which n was recovered.
only LGO shares We're disposed of in all
Speculation was notably strong during the
last hour and In many cases the last prices
made were the best of the day. In only
some instances, however, WAS the break Of
the morning fully recovered and compared
with yesterday the final figures of the day
cases are higher, the principal gains being
Cordage guaranteed, per cent; Cordage
preferred, N: Cordage common, Is; New
York. Lackawanna q Western Ia Sugar
rs; Sugar preferred and Burlington, /:
General Electric, u; Lake Shore & Man
haitian, u; ST. Paul. Baltimore & Ohio,
Rock Island, st. Paul & Omaha Lacka-
wanna and Lead preferred, V, and Chicago
Gas and Western Union Il. Declines-Con-
solidated Gas, 3 per cent; New Jersey Cen
trail, IN Canadian Pacific, 2; Illinois Cen
trail, rs; Michigan Central and Pittsburg &
Western preferred, |; ST. Paul preferred
Pacific preferred. M;. New England and
Rubber, x. and Distilling, Y.
The trading IN bonds during the MORN
ing was rather heavy owing to the depress-
but in the afternoon there was rally
IN which most of the issues dealt in par
ticipated and the closing was In good tone
The trading on the day was RAJ Their quiet
the aggregate of sales being 1884, 500 out of
which Southern fyes figured for $1460OO
The more important changes are: Advances
Detroit, Monroe & Toledo firsts Az per
cent. st. Louis e. San Francisco Trust
threes. A. Declines-Hocking Valley fives
and New Jersey consol firsts of 1902, 2lA
per cent
Government bonds were weak. notably
tives. which are down y per cent State
bonds were dull, except for Virginia de-
ferred stamped. which were active and
strong.
The following table. prepared by James
II. Berry, Room Is, Board of Trade. shows
the range Of quotations.: