The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-05
WAITING FOR BONDS
WALL STREET DEPRESSED ON LACK
OF WASHINGTON NEWS.
Only Activity Was by n Few Longs
ScnIpfng Prohts-LocaI Markets
Dull and F~eaturel@ss.

At New York yesterday money on call
was easy at 1919 per cent; last loan, /;
closed. l per cent.
Prime mercantile paper. 31a45k per cent.
Sterling exchange was dull and easy, with
actual business in bankers bills at $3.50
4.SS1H for demand and A.S6A@4.S7A for sixty
days: posted rates, s4s9kQ4.9o; commercial
bills, a.ssG4.S sN.
Silver certificates, 60lsc; bar silver. 60Bc;
Mexican dollars, 4s1sc; at Lordon bar sill
yer, q 9-16d per ounce.
Total sales of stocks were 1874, 465 shares.
including: American Sugar, 36. 200; Burling-
ton. 5000; Chicago Gas, 2,100; Distilling.
1900; Erie, 1890; General Electric, 10, 200;
Louisville & Nashville, 11.2oO; National
Lead, 600; Rock Island, $500; st. Paul,
1900; Union Pacific. $500.
The fact that the Secretary of the Treas
ury had not issued a call for proposals for
the new government loan yesterday morn
Ing had a depressing effect on the share
speculation. This feeling was quickly re-
Elected in the Inauguration of a sharp sell
ing movement which continued in force
during the first hour and led to a very gen.
eral decline. ranging from Is to ~ per
cent, the latter in General Electric, which
was sold down also in expectation of an
unfavorablo decision in pending litigation,
which, on last Monday. was not handed
down by the Supreme Court, in which the
the decline beng assisted by reports that;
the negotiations for a settlement be-
sCnsrol to of .h latere msnars s9n,sstlns g. for for
company were tagging. the greatest de-
cline of the entire market was 2 per cent.
was due to liquidation for both home ana
foreign accounts. induced by the practical
Repre- Re~pfsse M .as suo on sstS Srli " n fne h1use wa os
bought freely on the announcement that
Judge Grosscup. at Chicago. had removed
been appointed who nave had no previous
s %as ss.acted Tt BY the ans S Sempa1n York G saec ef %nam
Of which Is had been lost at the close
traders. About II O'clock the
temper OF speculation in the general mar
recovered from its early despondency and
renewing its faith In the anticipated bond
Issue iss ,;er being Elm helped sfsr thereto by the demoraI-
which testified to the belief Of the foreign
houses that the. bond issue would not be
mounted up with. a huoyant step, Sugar adj
vancing .21s. Chicago Gas and Northwestern
IL, I s%rl,nston s Na 5nIney lAi Rock ean, 1sl and
Western Union !. Union Pacific 4 and the
rest Of the list g There were fractional
ket. as a rule, was strong throughout the
afternoon. and closed in good tone. Column
ouS, TtOCkiuS valley " lOleuO was unusual
ly active, and touched 20ls, the highest
point reached in a long time, which is a
gain OF AZ over last Wednesdays price,
there having been a steady appreciation in
the shares since that day, which is due to
the buying induced by the completion Of the
organization of the operators producing
coal along, the line OF the road, for the pur-
pose OF placing the selling of the British
coal In one agency, thereby, compelling com
petition. The rise was also assisted by the
reported increased earnings for January.
The stock closed within rs of the highest.
The principal changes on the day in the
general list are: -Advances-st. Paul (
Omaha preferred, 2; Sugar. liz, and the
grangers. s4S. except Rock Island, which
is Is lower. On rumors unfavorable to the
declaration of the next dividend, Lead broke
In the late dealings "a for the common and
" for the preferred, with a final rally of
I and q, respectively. Other declines are:
Union Pacific, 1E; Lake Shore. and Chicago
Gas. *. and Wheeling & Lake Erie pre-
The bond market was depressed in the
morning, but in the late session there was
a general recovery, in unison with the
strength OF the share speculation. The total
sales were $739,00O.
Government bonds were weak. State
bonds were dull.
The following table. prepared by James
r.. Berry. Room 16. Board of Trade. shows
the range OF quotations: