The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-07
STOCKS ARE FALLING
BEARS MAKING HAY on NEW YORK
EXCHANGE THESE DAYS.
Baltimore s. Ohio Lost II IA Per
Fairly Active and Firm.

At New York yesterday money ON call
was easy at 1iaa2 per cent: last loan, 2.
Prime mercantile paper sa405 per cent
Sterling exchange about steady with ac-
tual business in bankers bills at $4.S91s
ei4.S9A for demand and at SiS75sGt4sS for
sixty days; posted rates. $4.ssa4.ssts and
siss5zag49o; commercial bills. s4S6s4Q4.S7.
Silver certificates, at4e bid; bar silver,
co.'s; Mexican dollars 4Ssaa.
Total sales OF stocks were 139 734 shares,
including the following: American Sugar.
$1,000, baltimore a. Ohio, 3, 400; Burlington.
$500; Chicago Cas- 1900 Distilling 500;
General Electric, 1000; Louisville q Nash
vile, 1900; New Jersey Central 1900; New
Fork Central, 1000; Northwest. $500; ST.
Paul, 1900; Southern railroad preferred,
Ice
Speculation on the Stock Exchange, which
has been largely in the hands of the trad
ers for "a Long time past was more pro-
fessional than ever in its character yester-
day The advance in American securities
on the London exchange in the morning
brought prices of the international stocks
to figures above those current in United
States and the arbitrage houses became
speculative buyers in the early dealings in
this market, which impaired to it firm
tone. Small selling, however, by the room
traders soon counteracted the good m
fuence of the foreign purchases and a re-
action set in which sent the figures down
a fraction, except in the case of Baltimore
q Ohio. This stock was pressed for sale,
on a renewal of the rumors that the next
dividend was in doubt. While some long
stock was brought out 1t is believed that
the short Interest in the shares was large
~ Increased. AS result the shares broke
"A per cent and closed at the lowest point
touched. The stock has been declining
steadily since Jan. is, when it sold at 651a,
the lowest point yesterday being 52A. a.
loss Of 12$4 per cent. The earnings have
ali the other riIways of the W enn tose and o
OF course this fact gives some force to
the bear runnors which crop up whenever
fore noon the general list had recovered
its Tone the industrial group leading in
the the. Improvement which followed and which
becoming stagnant- During the. last hour
speculation was decidedly weak and the
ership OF New Jersey Central, the market
closing heavy and in a majority of cases
wae aTrey q Is Ct ay Mbo
market and chiefly on the bear side, the
transactions resulting in a net loss on the
day or Us per cent. the last sale made
being. within u of the lowest. There was
considerable board room talk in refer
ence to the approaching dividend, doubts
be at the usual rate, while on the other,
offers TO purchase the dividend at 2la per
cent were made. It was expected that a
directors meeting to act on the question
would be held yesterday, but only the ex-
ecutive committee met and it was an
nounced that they had not considered the
subject of dividends. The Distilling reor-
ganization committee was to have met to-
day, but owing to the death of brother
or Chairman Hartshorn. of the commit
tee, a meeting was not held. The principal
losses OF the day not already stated are.
New Jersey Central, IA New York IL;
Consolidated Gas, i; the grangers A1a4.
wheeling a Lake Erie preferred gained
burg, q. c. 4 St. L. preferred, liz, and
Tobacco preferred and Cordage guaran-
teed, 1 per cent.
The bond market during the day was
somewhat more animated and prices were
fairly we'll held until the last hour when
under the Influence of the weakness of
the share Speculation, prices trended down
ward. The aggregate sales were 1901 500
The main declines are: Mexican National
flrsts and Kansas e. Texas, of Texas ffves
per cent; Erie fifth extended, "a; Peoria,
Decatur g. Evansville firsts, Evansville
division. 2; Iron Mountain frsts, liz, and
Chicago & Erie tirsts and Peoria & Eastern
firsts 1 per cent. Advances-Wheeling Il
Lake Erie firsts, Wheeling division. and
Baltimore e. Ohio fives, registered, | per
cent. I.ehigh Valley & Wilkesbarre fives
sold at s. against % on Ian Is.
Government bonds were steady State
bonds were Inactive
The following table. prepared by James
r. Berry. Room Is, Board of Trade. shows
the range or quotations: