The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-13
SMALL STOCK BUSINESS
NEWS LARGELY FAVORED THE
BEARS AND PURCHASERS SHY.
Further Decline of Per Cent. in Sill
Certificates-LOcai Markets
Show Few Changes.

At New York. yesterday money on call
was easier at 4@7 per cent; last loan, A;
closed at 4 per cent.
Prime mercantile paper, nominally 71AGl315
per cent.
Sterling exhange was firmer, with actual
business in bankers bills at S4.S41l4.S4A for
demand and s4S1AG4.S1A for sixty days;
posted rates, S4 S2f14. S31a and S4.8504 SO; COM
mercial bills. $4.S9A.
Bar silver 645sc; silver certificates, 64$4 a
65Ac. At London bar silver closed at 297sd
per ounce.
The total sales of stocks were $50 5T4
shares, including the following: American
Tobacco, 10,500; Burlington & Quincy 1c,7oO;
General Electric. 3400; Louisville & Nash
VILE 31oo; Manhattan. $500; Reading q, 400;
Rock Island. $500; St. Paul, 149oO silver
certificates, $31, 900.
The stock market yesterday on a COM
paratively light and poorly distributed VOL
ume of business, was irregular and fever
ish in tone. Lower London prices for
American securities, a firmer tendency in
foreign exhange and continued stiffness in
money rates, together with disappointing
railroad-traffic returns for the first week
In October, comprised the bear material
AS usual recently, the specialties monopo-
@Ai1Sd thC dlLtIIllOl Ol the PROFESSIONAL Ge;li-
ers and in the entire list only five stocks
scored noteworthy totals. In the stocks
mentioned liquidation first became clearly
apparent and exerted a sympathetic un-
1avOrab BILE influence the general list
The market opened weak and lower under
being the weak feature under effective
manipulation. The deeline in the stock
Was partly attributed to statistical
forts reciting the heavy inroads that have
been made by foreign grades of the product
en- the territory of the American company.
t he extreme loss 1oz, vas IL per cent the
slight fraction higher. During the first
-Four the market generally was irregular,
appeared in some instances at the early
low points, which influenced d fractional
recovery in the general list and carried To-
bacco up to 20 and Manhattan to 91ss. Re
rewed pressure however, soon started the
list again on the down grade and broke
New Jersey Central 2la per cent. to IS
per cent in Sugar. The depression was
incidental to the news of slight advance
in actual demand sterling and of n 1sc rise
in posted demand by leading drawer.
London. however. was moderate buyer OF
the internationals. and the losses scored by
the railway shares were not material as q
rule. In the early afternoon rallies oc-
CURED on covering of shorts partly carry
ing prices up an extreme Us per cent; for
Manhattan. Sugar rallied L "A and Burling-
ton and New Jersey Central | per cent.
Among the inactive shares Illinois Steel
leu ia ana huDDer preferred per cent.
Realizatons were the CHER influence in
unsettling prices in the late dealings a
feature Of interest was a decline of per
cent. in silver certificates OH slight dealings.
The closing was duh at slight Iracrionai
declines
Considerable pressure developed against
Reading and other speculative bonds,
pecially Kansas & Texas seconds, which
ieceded ia per cent, to 5012.
The bonds rallied later to SO. The conces
sons in the Reading issues averaged a
point. with the closing at ABOUT the low
est. The sales were $S4S000.
Government bonds were weak and slight.
~ lower on sales of $4,000.
Silver certificates were notably weak re
cedng / per cent, to 645s. on offerings OF
$50. 000 The decline is partly attributed to
liquidation by pool here ana III Europe.
The foreign inquiry also has been waning
for some time past.
The following table. prepared by i. w. Louis,
Room 10. Board of Trade, shows the range of
quotations: