The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-27
STOCK TRADE NARROW
ALMOST WHOLLY PROFESSIONAL
AND CLOSING AT DECLINES.
Bulk of the business TRANSACTED in
the IndustriaIs-Local Markets
More satisfactory.

At New York money on call was easy at
Sa4 per cent; last loan. 8; closed, B.
Prime mercantile paper, F97 per cent.
Sterling exchange was firm, with active
business in bankers bill at s4s711q4s7% for
demand and $lS6lkQ4s6s4 for sixty days;
posted rates, s4S7G4.S715 and s48SHq4-S9;
commercial bills, s4.s5%.
Bar silver, 6s%c; silver certificates. $40
69hc. At London bar silver closed at
81 7-16d per ounce.
Total sales of stocks were 213,11 shares,
including the following: American Tobac-
co, 1880; Atchison, 500; Sugar, $500; Bur-
lington, 500; Chicago Gas. $500; General
Electric, $500: Louisville & Nashville $500;
Missouri Pacific. 500; Pacific Mail. 1900;
Rock Island. 7,40o; st. Paul, 1880; Lake
Erie & Western. 1900.
The stock speculation yesterday was an
out-and-out professional affair. with the
dustrials and two railroad stocks. The
movement of prices was irregular. with a
steady downward trend. Realizing sales
were the feature OF the day, but range of
fluctuations was in the main narrow.
American Tobacco and Sugar were about
siderably in e eay Iss of = any of the other
shares. The traulng as a whole showed a
falling off of about $1,000 shares as com
pared with yesterdays aggregate. The
tone at the opening, in response to slightly
higher quotations in London. and moderate
repurchases OF stocks sold for that account
in this market yesterday. was firm and
prices were slightly higher. Liquidation
soon became apparent, with the result of
raids by the bear professionals. The latter
contingent selected Leather preferred as a
special point of attack, in connection with
the publication Of unfavorable forecasts of
the annual report of operations, in advance
of the meeting of the board of directors
The stock declined 2Ss per cent. The pres
sure TO sell the market abated soon after
the end of the first hour, and "A purchasing
movement In the shorts resulted in rallies
which, in few instances. were note
worthy. Tobacco was marked up ia and
Pacific Mail IL per cent. The gains were
held in most cases until late in the after
noon. when liquidation in Tobacco set in.
apparently Tor inside account, and carried
Its price down 2s per cent. Declines of
slight Importance occurred in the general
market, but Leather preferred dropped Ia :
Baltimore Il Ohio. Ia per cent, and the
grangers important fractions, despite a
large increase show I'm the January net
earnings OF st. Paul This was accounted
for by the offset presented in the state
ment OF an increase in operating expenses
In addition. Rock Island was sold on ac-
count of the destruction of the bridge at
Davenport, Ia. The speculation left off
steady In tone and at general net conces-
eions in prices as result of the days
operations.
The dealings in railway mortgages were
less active than of late. and the distribu-
tfon OF business was also Indifferent. Pro-
nounced strength was displayed by some
or the inactive issues. The fluctuations in
the active list were unir1portant, and val
ues were well sustained until late in the
day. when prices shaded off under the lead
ership OF the Northern Pacincs. The ag-
gregate sales We're 81. 722.000.
Government bonds were actively traded
in. the dealings footing up snl. 900. The
market ruled firm at unchanged quotations.
The following table. prepared by James r..
Berry. Room is: Board of Trade, shows the