The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-03
AN UNSETTLED TONE
MARRIED THE OPENING OF 1898
BUSINESS ON 'CHANGE.
Failure of Reading REORGANIZATION
Plan Restricted Trading-LOcaI
Markets without Feature.

At New York, yesterday. money on call
was easy at 1l2q2 last loan, 112; closed,
~ per cent.
Prime mercantile paper. 2%@41z per cent.
Sterling exchange quiet but firm with
actual business in bankers bills at $4.SSssGD
9Ssa4 for demand, and at $4.S7$4014.Ss for six
~ days; posted rates, $iss1a and $4s9la;
commercial bills, $.S6la. Silver certificates,
59Ac bid. No sales. Bar silver, $3.50 Mexi-
can dollars, 4slsc At London, bar silver.
27 7-16d.
Total sales of stocks were 143525 shares
including: American Sugar, 300; Burng-
ton, 1900: Chicago Cas- 10,60O; Distilling
5000; General Electric, 34OO; Manhattan,
S,7Oo; Northwest, 1920; Reading 54o0; st.
Paul. $4,000; Western Union, 1900
The year 1885 opened on the Stock Ex-
change with an unsettled tone to the spec
ulation and very light volume of business.
The failure or the Reading reorganiza ton
plan was prominent factor in restricting
the dealings as well as in creating the gen.
eral depression which took possession of
the market in the early dealings London
was a small seller of Reading and Illinois
Central, and American securities were weak
on the London Stock Exchange which add
ed to the heaviness of the home market
AS the day advanced and the engagement
OF $22o0,000 gold for shipment tomorrow
WI" o'ihouiScbt Tic WedhficsS Increased ana
the selling was in greater volume There
were occasional feeble rallies extending only
to a part of the list, but the trend of prices
was downward and the market closed weak
prices except in few instances, being be-
low the closing sales of Monday In the
railway list the depression was great in
the granger group. Large blocks of these
stocks We're offered for sale; rumor had it
that the liquidation was for inside inter-
ia dina 70 a sod IN,
ings which would be made apparent in the
december statement. Chicago Burlington
recovery of r. st. Paul sold down Ia clos
ing at the lowest point. Northwest fell off
tie coaers " IN the el1sng sales In
ing We're heavy and declined each 1 per
cent, the last being the lowest price made
IN Doth cases The pressure to sell Read
ing was by no means great, and under the
circumstances the shares showed remarka-
losses in the railway department were: Man
haitian; "a; Louisville & New Albany, *;
preferred. i; Erie preferred. ~ and Erie
preferred common, u per cent. Erie was
depressed by an unconfirmed rumor that the
reorganization scheme had been definitely
abandoned OF the industrial stocks Sugar
was the most active and weakest. The
causing break OF 2ss per cent, of which
only X was regained at the close. Chicago
Rubber preferred l. Consolidated Gas and and
sanSes were. established of 1ss in Baltimore
Il Ohio, 11s In Consolidation Coal of Mary
land, | In Leather preferred and Edison
Electric or New York, and " per cent. in
Lake Shore. -
There was a firm tone to trading in the
pond market during the morning, but in the
later dealings there were some recessions
induced by the. heavings OF the share spec
ulaton. The dealings we're moderate and
aggregated 1858. 1000 OUT of which South
ern lives were traded In to the extent Of
$id6,o0o, and Atchison fours 1921 900.
The principal changes are. Declines--Cor-
d4ge frsts. per cent; Wisconsin Central
nrsts, Ia. aud Atchison, Colorado 81 Pacific
nrsts. New York and New Hampshire and
Hartford fours debenture certificates Read
ing Tours and Rock Island extended fiyes
registered j per cent. Advances-A tchi son
Tours. Chicago Eastern Illinois general
ives and Northwest sinking fund skies. 1iS:
Michigan Central fves of 1902 " and 81
Ia per cent S'
Government bonds were steady ctota
bonds were dull 1879
The following table prepared by James
~ Berry, Room l6. Board OF Trade shows
the range OF quotations: