The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-29
THE INDIANA TRUST COMPANY
OFFICES S. Meridian ST..
SECURITIES FALLING
GOLD EXPORTS CONSTITUTE THE
MAIN INFLUENCE ON CHANGE.
Probable Failure of Congress to
Adopt Presidents Recommendations
Fact0r-LocaI Market Quiet.

At New York, yesterday, money on call
was active at las per cent. last loan,
per cent; closing, 2 per cent.
Prime mercantile paper, 2sad4 per cent.
Sterling exchange strong. with ac-
tua1 business in bankers bills at $4.S9A0
4.s91s for demand and at s4.SsA@4.sSA for
sixty days; posted rates, $4.Ss1aq4.9o1a; COM
mercial A.S7Aa4s71z.
Silver certificates. 59a4c bid. Bar silver.
at London. 27Ad per ounce
The total sales of stocks. were 1872 63S
shares, including: American Tobacco, $500;
American Sugar, 27,400; Burlington, 4,5e0;
Chicago Gas, 300; Distilling 1900; Erie
1900; General Electric, q 600; Louisville &,
Nashville, 400; Missouri Pacific 1890; Ma
tional Lead, $780, New Jersey Central,
b,4oo; Northwest, $500; Rock Island, $500;
st. Paul, 1860: Western Union, 6,4OO
The heavy engagements of gold for ship
ment to-day and Wednesday, the large
Withdrawals of gold from the subtreasury
and the Presidents message to Congress
were factors in yesterdays speculations on
the Stock Exchange. The gold movement
which was unexpectedly large had a
marked depressing influence on the mar
ket. and caused decline In the early
dealings, which was somewhat accelerated
by the delay in the sending of the mes
sage, which it expected would have
been read at the opening of the sessions
OF both houses of Congress. The market
became irregular and unsettled, with the
tendency downward, and the pressure was
not removed until the Presidents recon-
mendhtions to Congress had been an
nounced on the streets and hastily digest
ed Then came sharp re ~, which, as
TO the active list, was most pronounced in
Sugar, New Jersey Central and the gran
gers. Delaware e. Lackawanna and Balti-
more & Ohio were also prominent in the
rise, The temper of speculation, however,
ceipt Of advices from Washington that the
passage of the bill introduced in the House
Dy Mr. springer to carry out the recon-
mendatons of the message, was unlikely
10 occur at this session of Congress, in
view OF the certain opposition of the sill
York financiers, whenever expressed, were
warmly In favor of the Presidents sugges-
tons; but the grave doubts sustained as
to the carrying out of the recommends
tons caused sharp selling movement
which led to a material decline in prices.
Some long, stock was brought out, and the
bears took advantage of the uncertainty
OF the situation to hammer the entire list
the market ana the mas gwen
continued unchanged to the close, the final
trading being decidedly heavy in tone
With the exception of Reading, Manhattan
and a few of the specialties, which record
ed advances and Sugar, Erie, New York
Central and Tobacco, which are unchanged,
the closing. prices Of the shares dealt in
showed declines on the day ranging from u
to 3bs per cent the latter in General Elec-
trio. This stock sold freely on the
expectations of the rendering to-day of the
Supreme Court decisions in two important
cases. which. it is believed, will be against
the company. Although the decisions were
not made the stock sagged off throughout
the day. recovering only II per cent. at the
close from the lowest point touched. Chi
cago Gas opened % per cent. higher, but
quickly fell off IL per cent on Western
selling. rallylng y per cent. and reacting
II per cent Sugar lost Il per cent at the
opening. advanced IA and reacted l per
cent. The granger shares show losses on
the Gay OF asm1A per cent. the latter in
Northwest preferred. Alton & Terre Haute
is down ga Edison Electric of New York
8; Great Northern preferred 1a.; Mobile &
Ohio, rs; New Jersey Central and Della
ware & Lackawanna, 1la Denver & Rio
Grande preferred and Missouri Pacific. III ;
Lake Erie e. Western preferred and Balti-
more e. Ohio. l. Advances: Louisville &c
New Albany preferred. ~ per cent; Pacific
Mail, L. and quicksilver preferred. q.
The bond market was active and de-
pressed throughout the day. The total
sales were 81 .192.G)0. and the principal de-
clines are: Mobile & Ohio tours, pa; Mis-
souri, Pacific consol skies and st. Paul,
II q D. fives 2.
The following table. prepared by James
F.. Berry, Room 16. Board Of Trade, shows
the range of quotations: