The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-18
SPECULATION STRONG
AFTER HEAVY OPENING STOCKS
RALLIED AND SCORED ADVANCES.
Baltimore a. Ohio shares Fell on ON
Advcr3e Dividend Rcporfs--LocaI
Markets Dragging.

AT New York yesterday money on call
was easy at 1l2a21a per cent, last loan be-
ing made at per cent; closing, 2 per cent.
Prime mercantile paper. 4d5l4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at sf.S9hQ 1885
for demand and at $4.ssA@4 1885 for sixty
days: posted rates. A.sS1aGi.S9 and $4,000
4.9eiz; commercial bills, s4s71sG94S7s4.
Silver certificates, 677sQeS1ac; bar silver,
671zc: Mexican dollars, 531ac. At London,
bar silver, 3O7sd per ounce.
Total sales of stocks 1877. 239 shares includ-
ing: American Sugar, 1920; Baltimore &
Ohio, 400; Chicago Gas. $500; General
Electric, Is, 100; Lake Erie & Western. $500;
Manhattan Consolidated. 1000; New Jersey
Central 30o0; Reading, $500; St. Paul, u, 100;
United States Leather, 800.
There was no indication at the opening
of business ON the Stock Exchange yester-
day of the strength and buoyancy which
were subsequently infused into the specula-
tion While the initial dealings were
tive the tone of the market was heavy,
which was partly due to the unsettled char
acter of the trading in American securities
on the London Stock Exchange and to the
selling at New York for the foreign ac-
count General Electric was notably weak
on sales induced by the action of the di-
rectors Tuesday I'm discharging the confer
encc committee with the Westinghouse
company, thus abandoning the negotiations
looking to business combination. The
shares broke ~ per cent. but quickly rail-
lied a fraction, and during the afternoon
made a further recovery, reaching 11s above
the lowest, with a reaction of * at the
close, making the loss the day only u
per cent. Baltimore & Ohio was sold down
on reports that a dividend would be passed,
6 and later when the announcement was made
that this had been done there was further
closing being Az per cent, with rally in
the final sales of ia per cent, restricting
al market became strong after 1915 O. clock
and continued to move upward until about
proportions and brief duration. Before
o'clock speculation had again resumed Its
tone and curing Ing the rest Of the DAY prices
and. In a majority of instances, above the
final sales Of yesterday. The more impor-
which a long outstanding short interest
was squeezed and the price moved up AZ
per cent, to 1857. The stock sold at 104 on
Jan. 2, which gives an advance of 141a per
cent from that date. The other material
s usson sse
Erie & Western, Cotton Oil preferred,
and Sugar common and preferred, l per
cent. National Linseed is down / per cent.
and a few other shares small fraction.
The trading in bonds continues oh very
heavy scale. the sales aggregating s2,s75. 900.
out the day yesterday, and lis bonds fig
ured in the dealings. The main advances
are: Peoria. Decatur e. Evansville firsts,
Oh; Atchson, Colorado & Pacific firsts, 211a;
Atlantic Pacific Central division incomes
Reading tours, Ia; Reading second incomes,
1ia, and Reading thirds. Il Chicago & In
diana Coal fives and Manhattan conso
Tours, liz, and Chesapeake & Ohio, r. g.
A. second consols,.. Hooking Valley fves
Louisville, Evansville e. st. Louis conso
fives, Mutual Union sinking fund skies,
Rock Island flrsts and Rio Grande Western
firsts, / per cent. Declnes-Northern Pa
cihc collateral trust skies, Ia. and Laclede
Gas fves. Kentucky Central fours and
Elizabeth e. Big Sandy firsts. ! per cent
were inactive