The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-04
A STRING OF LOSSES
BUSINESS ON NEW YORK CHANGE
HAS TAI A DISASTROUS WEEK.
Some New strength Added ON Report
of New Bond 1ssue-Money Rates
Higher-LocaI


At New York, Saturday. money on call
was 11aG2 per cent; last closed at ., Of
Tered at 2.
Prime mercantile paper, 306 per cent.
Sterling exchange was weaker and un-
settled, with actual business in bankers
bills at AsOQlSost for demand and at $LS7
G4.s7s4 for sixty days; posted rates. s4-ss@
4.S91s and S4.O914Gf 901a; commercial bills.
sAS6hs.
Silver certificates, C0tsc bid; no sales. Bar
silver, Coo; Mexican dollars, 4sa4c. AT Lon
don bar silver was 27i4d per ounce.
The weekly bank statement shows the
following changes:
Reserve, decrease SO, 12S, $50
Loans, increase ......-.......... 1850
Specie, increase .........-.--..." s.g'9vo
Iegal-tenders decrease. 12.64o,i ~
Deposits, decrease ................. 12,o4l, 400
Circulation, 5l,5UO
The banks now hold s36, ISL, 500 in excess
of the requirements of the 25-per-cent. rule.
The exports of specie from the port of New
York for the week amounted to ST. 400 in
gold and $572,552 in silver. The imports for
the week: Gold. si66, 107; silver, $50, IA; dry
goods. $,S75.07G; general merchandise, 49,
1876.
Total sales of stocks Saturday amounted
to 1852 shares. including: American Sugar,
lo.70O; Chicago Gas. 1920; Distilling, 1900;
General Electric, 300; National Lead, 200;
~ 1sOVs !. raul, O,uuu, CUIOH III
cific, 1850; Western Union. s.l6O.
Speculation on the Stock Exchange was
Business was light. There ' was a NO Special
pressure to sell and there was at times fair
~ good buying, but the mystery attaching
tis's movements in New York and the bond
negotiations caused u slightly unsettled
feeling on the street and checked the up
ward tendency. There was small buying
for the London account, but not of sufficient
bulk TO affect the market. Union Pacific
was among the shares prominent in the for
eign buying and was also a purchaser, the
Reilly bill for the settlement of the debt to
the governmnt will boone a law. Chicago
Gas was bought by traders who look for a
change In the management. The market
was somewhat irregular in the final trading
and closed rather unsettled, most of the
stocks dealt in showing advances. Specula-
ton during the early part of the week was
depressed owing to a combination OF adj
continued heavy exports of gold, the ime7
probability Of the passage of the pooling bill
the liquidation of American securities at
New York and in London by foreign hold
ers, the demoralization of the wheat and
provision markets, the sharp rise in the
ceivers for the Whisky Trust and the poor
outlook for congressional action on the
treasury relief measures. Stocks touched
figures lower than at any previous time DUR
ing the month, while seventeen others sold
on a parity with the previous bottom prices.
The cancellation on Friday OF large orders
~ sup SUN LCt liz d u .
a sharp break in the rates for sterling ex-
change. rendering gold exports Improbable,
was a feature In stimulating the market.
The main feature of the trading during the
week was General Electric, in which liqui-
d da5i9n s waS plainly sord perfSs aa1S dsc A1imong the
made ranging up to s per cent, the latter
In Metropolitan Traction, but a majority of
the depressed shares were higher in the
final dealings. Among the more Important
changes on the week are: Declines--Balti-
per cent. Norfolk g. NaGfarn nrafarrp1 ~
Pittsburg & Western preferred, 3H and
Long Island. 3. Advances-Tobacco, 8 per
Mail. ". The sales aggregated s72.6o0
lar; but In the main firm. with total sales
OF S41 600. Advances were recorded in Ore
gon short-line cons. fves. 3 per cent.
Ohio four-and-a-halfs. Kansas & Texas, of
Texas. hves. Reading third incomes and
misunderstanding. ST. Louis & Texas
MHr n i n f per ce 3 ;;Lson,hi Louisville & NASHVILLE.
Valley division hrsts. sold at 50. against So
Sne last previous sale, but Is was only bid
Seneraiiy i Heavy c,os During rse t Rond ea market nart was as
the week. and the dealings were attended
with considerable animation. Foreign houses
considerable local liquidation. causing a big
slump in the prices of numerous shares.
tone In the later dealings, but the recov-
cry was only partial and most of the mort
sales were IS. 7s5. 200. and the more notable
declines are: Chicago & Northern Pacific
firsts. 61A; Union Pacific gold skies. Az:
knasas Pacific consoI skies. Evansville &
ST Louis frsts and Wisconsin Central hrsts,
4, and Chicago & Erie incomes, 3. Advances
-Housotanic fves, IA per cent, and Mich
igan Central fves of 1881, 4 per cent.
Government, bonds We're strong for fves;
lower for tours. State bonds were mac
tive.
The Glowing table. prepared by James
~. Berry. Room 16. Board or Trade, shows
the range OF quotations.: