The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-10-17
IMPORTS AGAINST US
EXCESS OVER EXPORTS COST si7,-
600. 1000 COLD IN SEPTEMBER
Sales of Stocks Small I'm Volume and
Prices Firm-Locai Markets Strong
fn Several Lines of Trade.


was easy at 2q21k per cent: last loan, 2;
closing, 2 =
Prime mercantile paper, sac per cent.
Sterling exchange was strong. with &C
tual business IN bankers bills at A.ssk0
ASH for demand and si.s7A@4.S714 for sixty
days: posted rates. A-S71zq4S8 and $4-solsq
4.s3: commercial bills, siS64.
Silver certificates, eSisa6Sisc: bar silver.
ssc: Mexican dollars. 53sic. At London bar
sil,e r was 81 1-i6d per ounce.
Total sales OF stocks were 1s4, 7S shares.
including the following: American Sugar.
. $500: American Tobacco. 1000; Atchison,
500; Burlington, 1900; Chicago Gas, 1880;
Consolidated Gas. $500: Distilling, 400:
Missouri Pacific. $500; Northwest, 400;
Reading. 1880: Rock Island, 400: ST.
Paul.. 1880; silver certificates, 10000; Ten
nessee Coal and Iron, $500; Union Pacific.
5000; United States Leather preferred. A.
800: Wheeling & Lake Erie, 1890.
The action Of the stock market yesterday
was moderately influenced by a rise in the
rates of foreign exchange to within a
fraction of the gold-exporting point. The
various ways. but Is really attributable to
the changes in the course of our merchan-
disc trade. imports increasing, while ex-
ports show a moderate decline. The Sep
tember statement of our foreign trade
has a direct bearing on this subject. 1t
shows that while exports remained sta
tionary, imports increased to a marked
extent. The result was that the favorable
balance OF exchange of $4,000 in Sep
TENDER, 1894, has been changed into an UNI
favorable balance Of S6,500.0Oo in Septem-
Der. 1885, In that month last year the
gold movement was unusually small, the
result being moderate imports This year
in the same month there were substantial
gold exports, In the aggregate slightly in
excess OF the change of condition in mer-
shandise. In other words. We imported
l5.oco.o oo more than We did a year ago.
and accordingly have exported 81. 900, 900
more in gold. The strength of exchang
was logically reflected in a shading in
money rate.
Other news was confined to railroad
earnings. the passage Of the Baltimore &
Ohio dividend for the half year and the
the New York Stock Exchange in deciding
TO list the General Trust Company re-
ceipts for Chicago Gas. This last event
business. but had been anticipated. 1t was
stated that the Baltimore & Ohio had
earned the amount required for a two
the directors had decided to apply the
money In other directions. The average in
crease on the gross earnings Of forty-four
roads reporting tor the first week in Oc-
toDer was the largest since early In July.
The market opened moderately active
operations soon changed the temper and
resulted In declines ranging up to ~
Per cent. with the grangers and industriais
the chief sufferers. In the less active
shares some notable changes occurred.
Morris & Essex rose to 40, as AGAINST
166, the last previous sale on Sept. 20.
New England touched 53h. as compared
with %, the previous quotation. American
Spirits Manufacturing Company preferred.
when issued. which closed at Az bid yes
terday. brought 40 for the first transaction
ever recorded. and receded to A.. Erie
Telegraph gained IA, to 20, and subse-
quently lost the improvement. The specu-
lation was weak and apathetic until near
the close. when, on increased earnings, the
market became irregular. Chicago Gas
and Cleveland. Lorain & Wheeling pre-
ferred received good support and rallied
i per cent. each from the low point. The
aforementioned lost a fraction OF the gain
later. Final prices were in the main frac-
tionally above the low point.
There was a marked diminution in the
volume OF trading, and an absence also
OF that decided strength which character
lied the days operations in bonds. n
market, as a whole. however, ruled firm.
although in the late trading the. specula-
tive issues developed a sagging tendency,
which was In part attributed to the heayf-
ness or the share speculation. A transac-
ton Of note was the purchase of a block
OF 100000 Cleveland, Lorain & Wheeling
frsts ct Joe. subsequently the price rose
TO 1901. The total sales were 1866. 600.
Government bonds were Inactive. In
State securities $50, 900 Virginia centuries
we're traded in at 62z sellers. 20.
The following table. prepared by James r
Berry, Room 16. Board Of Trade. shows tho
range OF OuOtafiOuS-