The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-02
FOREIGNERS ARE SHY
NOT TEMPTED BY BETTER PRICES
FOR AMERICAN SECURITIES.
Dealings Fall OF on New York
'Change, with Professional In
harge-Loc Markets Weak.

At New York yesterday money on call
was easier at gas per cent; last loan, 81;
closed, offered, 3 per cent.
Prime mercantile paper n%ominally at 7a9
per cent.
Sterling exchange was easier, with actual
business in bankers bills at $4.8fA44841a
for demand and s~4.s21a04.s2@4 for sixty
days; posted rates, $.S304.S412 and $3.50
4.s6: commercial bills. $4.S1h.
Bar silver, $3.50; silver certificates, 662a0
&c. At London bar silver closed at 80 11-16d
per ounce.
Total sales of stocks were 125, 939 shares.
including the following: American Tobac-
co, $500; American Sugar, q, 800; Burling-
ton & Quincy, 1920; Baltimore & Ohio,
$500; Chicago Gas, $500; Louisville & Nash
Vile. 12,200; Manhattan, 3.400; Reading,
$500; st. Paul, q, 200; Western Union, II, 900.
Silver certificates, 10000.
The New York stock market was less
decided in chararer yesterday and the
dealings were entirely professional. The
volume of business also fell sharply below
Mondays record. A feature Of the specu-
lation was continued selling by London.
Prices for Americans at that center failed
to respond to the Improvement in the New
York market that had been in progress at
the close of business Monday and the
opening yesterday morning was fractional
ly lower, being also partly affected by re-
newed realizing. An improving tendency
was noted, however, after the initial deal
ings which lasted until after the first hour.
In the meantime substantial advances had
occurred in many shares, particularly the
industrials. manipulation being clearly evil
dent. Sugar advanced / per cent to 109,
despite continued depression III the price
of the foreign products, being partly in
fiuenced by reports Of the acquisition by
the company of a rival concern. Vigorous
denialS of the rumorS by officials OF both
companies Induced a subsequent reaction
to 1919. TobaSNo and Chicago Gas rose IA
per cent. and S4snhattan and other prom
inent share a pint or thereabouts, a
number of infus sees later favored the
bears in depressir1. prices, including a raj
lying tendency in foreign exchange, which
was reflected in higher actual rates and in
a rise of i2c in posted figures to $4.S3u4.S5.
The movement started reports of the
probable cancellation of some of the more
recent gold import orders. The general i'm
preston is, however, that weakness will
again shortly develop exchange, owing to
the prospective heavy shipments of our
products to Europe and the strong inter-
national trade balance in favor of this
country. Additional engagements of gold
brought the grand total since the import
movement was ~inaugurated to $40, 500, 600. 1t
Is understood that a considerable amount of
metal that is atioat has not been reported.
Renewed firmneSS in call money rates were
also partly responsible for a contraction
The extreme figures reached was s per
cent. Some unfavorable traffic returns
were also repOTleU, 1ncluulnS that OF 'lne
Louisville & Nashville for July showing a
decrease in net of $4,000. The stock fell to
3sB and there was an -appreciable increase
of foreign offerings. The grangers, spe-
~cialties and industrials also made material
concessions. Baltimore Il Ohio doomed into
unfavorable prominence late in the day and
made an unexplained slump of Pa per cent.
to 1914, on fairly liberal sales. Illinois
Steel and Minnesota Iron were again con-
spicuous. The first dropped 2, to 30, while
the last mentioned exhibited buoyancy to-
wards the close and jumped 5 per cent, to
As, reacting to 45. In the last hour a drop
in call money rates to 4 per cent. for ac-
tual transactions induced purchases for
both accounts, Sugar recovering to 1885.
The closing was firm at unimportant
changes either way.
Bonds We're dull and in most cases ex-
hibited depression. The losses were unim-
portant, however, except III Il few in
stances. Sales, $472, 900.
Government bonds were strong and active
on a renewal of investment purchases. The
sales We're u.O00. Silver certificates
brought &c for $40, 900.
The following table, prepared by L. w. Louis,
Room ID, Board OF Trade, shows the range of
quotations.: