The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-05
STOCKS ARE LOWER
NEW YORK MARKET UNFAvORABLY
AFFECTED BY VARIOUS RUMORs.
Railway Shares Hammered Down by
the Bears Towards the Close
Trade at Indianapolis Improving.

At New York yesterday money on call
was easy at 1izQ2is per cent. the last loan
being made at 2; closing offered at 11sq2
per cent
Prime mercantile paper. $500 per cent.
Sterling exchange dull, with acuta bus
mess in bankers bills at s4ssa4s9A for
demand and A.s74qiSS for sixty days;
posted rates. $4sssA and s4.sslkQ4.sO: COM
mercial bills, $As7.
Bar silver closed at s7lsc. Certificates.
67A@671zc. At London bar silver closed at
% 1l-l6d.
The total stock sales on the New York
exchange yesterday were 20f4H shares, in
Guiding the following: American Sugar, o.
300: American Tobacco. 1880; Atchison. TO-
600: Burlington, 1890; Chicago Gas, 1860;
Louisville, & Nashville. $500: North Amer
lean Company. 1900; Pacific Mail. 400;
Reading, 400; Rock Island 200; ST. Paul.
500; United States Leather preferred. l.
600: Western Union. $500.
The stock market, with hardly an excep-
tion. worked lower yesterday. The volume
OF business was considerably lighter than
on Tuesday. The dealings in Sugar stock
were only about half as large as yester-
day. but constituted about one-third of the
total. Early in the day general advances
in foreign and domestic grades Of sugars
served as an argument TO bull the stock
and q gain. of per cent was recorded
IN IL AT the top figures realizing sales
were encountered and unfavorable rumors
We're current in regard to probable legal
attacks on the company in this and other
states. In the afternoon the rum0rs crys-
tallized into the serving of papers on the
secretary and treasurer of the company
in suit 10 restrain 1t from doing bust
ness in the State of New York The street
regarded the movement largely specu-
latiye In character: The stock was prac-
off at a net gain of per cent, being
sustained by expectations that the regu-.
lar quarterly dividends on the preferred and
common stocks will be declared to-mor-
row. Rumors were current of hostile pro-
ceedlngs TO be brought in Massachusetts.
The general market was adversely affected
shares. by disappointing exhibits of railroad
earnings and by expectations that fairly
large amount of gold would be shipped
tivity was greatest in the industriaIs and
grangers. The aforementioned group was
Island earnings for the month of November,
showing an increase In gross OF only a
little over 5000: The st. Paul exhibit for
of 1915 failed to stimulate its mar
ket price.
Ing. the trend Of prices being downward.
The grangers and Louisville & Nashville
were chiefly depressed in the railroads. In
the industriaIs Tobacco was under the
hammer and broke almost 2 per cent
while Rubber. Leather preferred and Chi
cago Gas yielded sharply. Sugar reacted
about i per cent the influences noted
at the beginning Of this article. There was
little of interest in the afternoon specula-
tion the market ruling quiet and COM
paratively steady until the last hour. wnen
the bears became more aggressive and
caused declines in the railway list TO the
lowest OF the day. Baltimore & Ohio was
conspicuous in the final dealings by
break of SIS per cent The slump was at
tributed to unfavorable rumors as TO the
extent of the company's floating debt. The
closing was quiet and heavy at the low
est OF the day and sharp concession in
some instances. The only notable excep-
ton to the general losses aside from Sugar
was Consolidated Gas, which made a gain
of 15s per cent
Railroad bonds were moderately active
and firm In tone despite some Irregular
ity In prices. Concessions as a rule were
only made In the Inactive class. The sales
were s. 1873, 600.
Government bonds were irregular. State
bonds were inactive.
The following table. prepared by James E.
Berry. Room f6. Board OF Trade. shows the
range OF quota tons.