The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-28
DECLINES IN STOCKS
INDUSTRIAL GROUP LED THE MAR
KET IN POINT OF ACTIVITY.
Sensational Rumors Worked to De-
Local Markets Improving.

At New York yesterday money on call
was easy. at ga per cent; last loan. 3.
closed at 3.
Prime mercantile paper, SAL per cent.
Sterling exchange was firm and higher,
with actual business In bankers bills at
s4S7zQ4.sS for demand and s4.sslst4 s6A for
sixty days; posted rates, S4.6G4.Sl1z and
$4.ssia0i.se; commercial bills. SiSas.
Silver certificates, 6SssG6sssc: bar silver,
6slkc. At London bar silver was 31Ssd per
ounce.
Total sales Of stocks were 215.5O0 shares,
including: American Tobacco, 26. 700; Amer
lean Sugar. 1850: Burlington. 1890; Balti-
more & Ohio. II. 300: Louisville x Nashville.
1850: Missouri Pacific, 3,7C0; Reading. 100;
Rock Island. 1900; st. Paul. 1900; Tennes-
see Coal and Iron. 500: Union Pacific. $500;
Western Union. $500; silver certificates,
s0,00.
The volume of stock trades yesterday was
about equal to that of the previous day.
The industriais again he'd first place in
point OF activity. as a group. The market
was irregular, with a downward tendency.
and marked declines occurred in several in
stances. Baltimore & Ohio was the partic-
ularly weak feature, declining an extreme
six points to Is, while the five-per-cent
seller 20, as against 80 regular, the last
previous transaction on Tuesday. The de-
preston was caused by disturbing reports
conveying the impression that the result
OF the expert report that has been made
by Mr.. Stephen Little. the accountant en-
pioyed by the syndicate, had been even
more unfavorable than had been antici-
pated., and foreshadowed the gravest con-
sequences 1t was also implied that the
company would be unable to meet the in
terest due March i. amounting to about
$4,000 Official denials of the rumor were
made about the close of business. Suisse
quently the stock rallied to %. and c.osed
In the industriais, Leather preferred was
pressed heavily for sale, as a result of
port OF operations published yesterday. The
stock led the merket in extent of transac-
tons. and closed at decline OF per cent.
days final figure. The general market
moved irreguarly. but the fluctuations, ex-
cept IN one or two instances, were not
a depressed market, which was partly at
tributabie to change Of front TO the bear
side by foreign dealers in Americans:
Realizations were also effected by local
operators in various securities The de-
preston in Leather preferred, referred to
above, unfavorabiy affected others of the
industrial group. Sugar yielded les per
cent TO 1161z, on offerings from interests
recently identified with the bull movement
worthy explanation, declined. and subse-
quently recovered IL per cent. The rail-
ways were, as a rule; quiet; aside from st.
Paul and Louisville & Nashville, in which
fairly extensive business was done and
moved within narrow limits. The down.
ward tendency was checked late in the day,
and, under moderate covering by shorts.
substantial gains were made in number of
stocks Tobacco improved ia, Sugar 15s.
Manhattan rs. and less important advances
occurred in other shares. The meeting of
the sales agents OF the anthracite coal
companies, which to have been held
yesterday. was called off. 1t is understood
that the production for March will be on
about the same basis in this month,
namely, 2,500co0 10 2,750,000 tons. The COM
panies are beginning to receive the full
circular prices. The market closed quiet
and firm in tone, with the changes unim-
portant in either direction.
The railway bond market exhibited con-
siderable falling off in activity, and a shad-
Ing OF prices occurred In the speculative
issues. The more strictly investment Sc
curities were well held. however. and in
noted, as, for example. in Pittsburg
Shenago & Lake Erie firsts, which rose
per cent to 81, and closed at 80. Balti-
more 4 Ohio issues were sharply depressed
of the company was recorded at %, seller
20, as against 80 regular, on Tuesday last
and subsequently the bonds were offered
down to Sy1z by foreign houses, with no
takers. The other net losses OF prominence
were In Pittsburg AZ Western firsts, IA;
Brooklyn Elevated. 2: Wabash seconds.
IA, and Chesapeake x Ohio fives, 1 per
cent. The aggregate sales were 81, 1856 00l
Government securities ruled dull and firm,
with dealings aSgregating $4,000. Trans
actions in silver certificates were noted at
6s1s. for $4,000. as against 20. the previous
transaction on Monday last
The following table. prepared by James T..
Berry, Room 10, Board of Trade, shows the
range OF quotations:
If~xt.T r~I-