The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-06
HAD A POOR DAY
REACTION FROM WEDNESDAYS
BOON RESULTED IN DECLINES.
Money Becomes Easier, Sterling Ex-
change Firm and silver Falls
Local Markets Quiet.

AT New 1OTk. yesterday, money OH cali
was easy at 4n6 per cent.
Prime mercantile paper, sal per cent.
Sterling exchange was firm and higher.
with actual business in bankers bills at
sf.S1zG4S4A for demand and Si.S1G4.SlA for
sixty days; posted rates. S.Sl1zn4S21a and
SIs5n4S6; commercial bills. $3.50.
Bar silver. Sic: silver certificates. 64%m
651sc; Mexican dollars. 5Oc. At London bar
silver closed at % 13-16d per ounce.
Total sales of stocks were 450. 96S shares.
including the following: American Tobacco.
1920; American Sugar, 5000; Burlington &
Quincy. 3l.OoO: Chicago Gas, %. 1900; General
Electric. $4,000 Louisville & Nashville, II. $500:
Manhattan. 800; Missouri Pacific, 900:
National Lead, 3.4c0; Reading. &c. 300. Rock
Island. 12.S09; St. Paul. 50. 200: Tennessee
Coal and Iron. $3.50: Union Pacific. Is. 100:
Western Union. 5000; Wheeling x Lake
Erie, $500; Southern railroad preferred,
500; silver certificates. 1000.
The railway shares as a group again alb
sorbed more speculative interest on New
York Change yesterday than the indus
trials, although some notable movements
occurred in Sugar. Tobacco and Chicago
Gas. The market reflected the enormous
profit taking on the boom of Wednesday.
and. although the total transactions fell
short of Wednesdays record by about
121. 600 shares. the operations during the last
hour were as animated and on as large a
proportionate scale as on that day. Ex-
treme irregularity characterized a num-
Der of stocks. particularly in the industrials
and specialties, and the course of prices
was lower. the declines being accelerated
by a renewal of stock jobbing rumors of
impending Cuban complications. London
was not d noteworthy factor in the specu-
lation and there was but little in the way
OF important new Developments. although
An easier condition of the money and com
mercial paper markets was noted. time
funds touching a minimum of > per cent.
for all dates. This condition was partly
responsible for a further hardening in ac-
tuai sterling figures. but the rise was also
of leading houses to draw bills. while on
the other hand the demand from importers
was reported somewhat urgent. The star
performer was Tobacco, which made a ten
point fiuctuation. The stock sold down rs
early to 1915. jumped to "a on the declara-
ton of a 4 per cent. dividend. and finally
slumped rapidly and without other explain
alton that realizing to ~. Manhattan fell
) TO 20. rallied later to ga. and reacted to
10 T$s on the expected impeding declara-
tion OF a disbursement of liz per cent, but
sold off in common with the general list.
touching 20. Sugar declined 21s TO llsas. raj
lied TO 1872. reacted to 116Ss. and finally raj
lied about a point. The market had exhib-
tied a sagging tendency in the forenoon
speculation upon a considerably dimin-,
ished volume of business as compared with
Wednesday. developed aggressive strength
around midday under the leadership of To-
baceo. and the best prices OF the day were
then made. Among the inactive specialtieS
Flint * Pere Marquette jumped IA and the
preferred SIS. the first losing Y of the rise.
Illinois Steel. on the other hand, broke
Us to 46Ia. Around delivery hour the adj
vance was stemned and the market be-
came exceptionally active and excited on
the Cuban war rumors referred to above
and prices slumped all along the line. Spe-
cial pressure was directed against the in
dustrials. Tobacco breaking ), Sugar SIS
and Chicago Gas ia per cent. The rail-
ways reacted. 1G1&, the grangers Read
ing and Manhattan leading. The closing
was wax at sharp fractional net declines
generally.
The railway bond market was less active,
but showed decided weakness on profit TAX
ing. The Atchison and other leading is
sues were sold freely. with comparative
prices showing general concessions. The
sales were SIP. 900.
Government bonds were weak and lower
on sales of $50. Goo. Silver certificates
showed strength and moved up i2c on pur-
chases of $4,000.
The following table. prepared by l.. w. Louis.
Room II. Board OF Trade. shows the range of
quotations..