The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-21
STOCK MARKET Is DULL
PROFESSIONAL BLAIR TRADERS
ALONE SHOW ANY ACTIVITY.
Discoura ging Reports of Only Slow
Revival In Railroad Business-Lo-
cal Markets Fairly Firm.

At New York. yesterday. money on call
was easy at 212G3 per cent. last loan. 212
closed at 21..
Prime mercantile paper. fz45la per cent
Sterling exchange steady with actual
business in bankers bills at A.sJs444.S5 for
demand and si.s2ka4s21z for sixty days;
posted rates. A.s2lz@4sS1s and si.ssq4.s7;
commercial bills $4a.
Bar silver 65Isc; silver certificates. 651sd
65Isc: Mexican dollars. 505sc. At London bar
silver closed at % 15-16d per ounce.
Total ssales of stocks were 1881 shares
including the following: American Sugar
$500; Burlington & Quincy 1890; Consol.-
dated Gas. 1900; Louisville & Nashville
400: Reading. $1,000: St. Paul. $500; silver
certificates. $4,000.
The New York stock market was under
pressure from professional bears yester-
day. The volume of business was the
lightest that has been recorded on any full
business day in the past two weeks. and
the distribution was very poor. The move
ment was irregular and in most instances
narrow. the market displaying a tendency
to rally whenever pressure was temporarily
removed. Operators who are usually in
close touch with speculative movements as
sert that the short interest bids fair TO
Inducing some interests to take back part
of the stocks sold at the top level. Cover
ing is also being stimulated to an extent
by the peaceful tenor of the Washington
political advices Incidentally there is no
important selling of long stocks, and
.'splurges'' in the usually spectacular
specialties. facilitated by the decidedly
easier monetary conditions. afford the only
relief from the monotony of the market.
The bears and the bulls without stocks ac-
company their attacks on the general list
with gloomy forecasts as TO the outlook
for traffic and lay particular stress on the
discouraging returns that are now coming
TO hand. as well as the more moderate
activity i'm general business as compared
with "A week ago. Liquidation is apparent
here and there In some of the high-priced
SpecialtieS, and this has caused abate-
ment of the purchasing movement that
Was noted until a day two past in the
low-priced shares. London orders are
light but are mainly to sell. The initial
prices were irregular and the changes frac-
tional- Bear aggression. however, soon be-
in ' and gained a point Leather s preferre ,
moved up a fraction on reports that a
dividend of / per cent. would be declared
at the meeting of the directors next
Tuesday. The announcement of a further
reduction i'm the prices of refined sugars
caused only fractional decline in Sugar
oeOSShr ot0 ittONtAy iOiOWtu. III the
early afternoon the market was very dull
but prices stiffened sharply all around. In
the last hour renewed bear pressure caused
depression TO the lowest figure of the day
Long Island lacked support and declined
"a per cent, making the net loss in this
speciality in two days Ga per cent. The
closing was weak at general fractional net
losses.
Railway bonds were dull and without
special feature. Firmness was generally
noted. however. The sales were 81. 456. OOJ
Government bonds held firm on dealings
of $4,000. Silver certificates were quiet and
easier on sales of $4,000.
The following table. prepared by l.. w Louis,
Room II Board OF Trade. shows the range of
quotations: