The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-10
FLAT STOCK MARKET
BUSINESS sHRINKs, WAITING FOR
FINANCIAL DEVELOPMENTS.
Wall Street Relieves IL Has n Corner
ON the GoId-LOcal Markets
Continue Steady.

At New York. yesterday, money on call
Was easy at 5q7 per cent: last loan, 3;
closing. per cent.
Prime mercantile paper, $50 per cent
Sterling exchange was dull and slow. and
with actual business in bankers bills at
ssssss@Lss for demand and s4.s7l4a 4-s71s for
sixty days; posted rates, sLSS44.S9 and
sis915d4. S01z; commercial bills. S.S6A.
Silver certificates. s71s71zc; bar silver,
csc; Mexican dollars, 52s4c. At London bar
silver was 80 9-16d per ounce.
Total sales of stocks were 16S9S7 shares.
Including the following: American Sugar,
1880; American Tobacco, 1900; Burlington,
1850; Louisville & Nashville. $500; Manhat-
tan Consolidated. 1880; Reading. 1890; st.
Paul. 5000: Tennessee Coal and Iron, 800;
United States Leather, 1900 United States
Leather preferred, $500.
Thursdays stock market is best de-
scribed as a waiting one. The volume Of
business underwent a considerable shrink
age, and there was marked absence of
the recent excitement. Prices did not move
formly. evidencing the fact that stocks
Were being dealt in subject to special con-
siderati0ns affecting them, rather than on
any general dominating influence, such
sne war talk or the treasury situation. AT
the same time easy money rates and
weaker tendency IN the sterling exchange
narket decreased estimates OF the amount
OF gold 10 be shipped 10 europe were rae
tors in the speculation. Inc sentiment in
the street Is almost general on the point
that more or less definite understanding
obtains regarding the treasury relief meas
UreS between the administration and pow
erful banking interests. Late in the day
rumorS were current that pressure was be-
ing brought to bear the President and
Secretary Carlisle to have the interval or
call abridged The first batch of blank APP
piication forms for subscriptions TO the
new bonds was received at the New York
Requests for additional supply of blanks
were forwarded to Washington. For obvi-
Gus reasons definite information regarding
able Almost without exception, however,
Wall-street men believe that inability on
the part of the public to secure gold to
pay for any considerable proportion or the
$l00000.000 issue Of bonds will compel the
the syndicate's assistance. 1t is also gen.
orally held that this assistance will be
Significance is attached in this connection,
20 the expressed belief at Washington that
exports of gold in the interval before the
coed about one-sixth of the free gold now
held by the treasury. Gold commodity
half OF l per cent. Share prices showed
Taterial gains in many instances. particu-
larry in Sugar. Tobacco. the Nanderbits,
Leads. The movement was somewhat ir-
regular. Manhattan and Leather preferred
were sharply depressed. The first named
was unfavorably affected by rumors of i'm
pending increased taxation and the last by
uncoInrmed reports tndI the company was
endeavoring to secure two-million-dollar
loan. and persistent rumorS that the divi-
dend to be considered early next week will
be passed. Manhattan at first improved 1
per cent, to 9S12, but sold off to 963s, with
a subsequent rally TO 81. President Gould
was interviewed IN regard TO the COM
pany's condition. and stated that the bear
reports were entirely unfounded. Leather
preferred dropped per cent, to 56la. but
rallied with the general list late in the day.
1t closed, however, at a net loss of points.
Metropolitan Traction. on purchases of only
1000 shares, rose 5ls to $685. The advance
was attributed to repurchases by investors.
The closing was dull and irregular, but at
general net gains, which, In some instances,
were material.
The bond market displayed irregularity
during the greater part OF the day on
decreased volume of business. In the late
trading, however, prices generally moved
upward under the leadership of the North
ern Pacific issues, the thirds rising per
cent, to 50. Dealings were inaugurated in
the trust receipts for Union Pacific skies
of 1896, at 95A and 96i2. respectively.
The dealings in government bonds aggre-
gated only 5000 The market was feature
less. aside from the new fours, which adj
vanced ia per cent. on the first call, but
ing. In State issues 5000 Alabamas were
dealt in.
The Following table. prepared by James E.
Berry, Room Is. Board OF Trade, shows the
range OF quotations: