The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-24
FOREIGNERS SELLING
EFFECT OF THE RUMORED RUSSIA
TURKEY UNDERSTANDING.
Moderate Volume of business on
Change In Local Quotations.

At New York yesterday money on call
was easy at 3Q4 per cent; last loan, 3;
closed g.
Prime mercantile paper. 66s per cent.
Sterling exchange was firmer. with actual
business In bankers bills at $i.SsAd4.S9
for demand and s4s7 and siss1za4so; COM
mercial bills. A.Sss4. Silver certificates.
671sG67lzc; bar silver, &c.
Total sales Of stocks were 1928 shares.
Including: American Sugar. $500; Amer
lean Tobacco. $500; Burlington, $500; Gen.
eral Electric. $500; Manhattan CONSOLE
dated. 1l.1O0: Reading. 1000; St. Paul. H.
600; Western Union, $500
The speculation I'm stocks yesterday was
dominated by a reported change in the po-
1itical situation abroad. 1t was alleged in
early cables that a combination has been
formed between Russia and the Porte and
this condition of affairs was reflected in
q slump in prices, including Americas, on
the London Stock Exchange, and by per-
sistent and fairly large selling in this mar
ket for foreign account This new phase
IN the situation was followed by harden
ing tendency in the sterling exchange mar
keI and encouraged bear predictions or
probable heavy shipments of gold on Sat-
urday. The Impression had gained ground
previously that very little, Il any, of the
metal would go forward. In the foreign
selling referred TO all of the international
shares wee included, with St. Paul and
Louisville & Nashville most conspicuous.
The local market opened Irregular, but
soon developed general weakness, General
Electric led the declining movement. fol-
lowed in close order by Reading, Louisville
& Nashville, and the grangers- The ap-
pearance OF moderate purchasing orders IN
Sugar and Manhattan advanced those
shares rs and per cent, respectively, and
impaired a steader tone 10 the general
list. The meeting OF the anthracite coal
presidents, which was in progress all day,
was regarded as having an important bear
ing on the general situation, and although
there was no expectation OF any tangible
results operators were disposed 10 restrict
their ventures temporarily. The money
markets were unchanged as to quotations.
but uncertainty as to the prospect or con-
finucd ease still counts an important
influence in limiting the scope OF the deal
dngs. In the late session there was de-
cided pressure against some OF the indus
trial stocks, which was in turn brought
20 bear on the railroads. Tobacco dis
played exceptional weakness, yielding 2Sl
per cent. to 1512. on renewed attacks by
the professional traders and liquidation by
insiders. Sugar lost the early gain and
Manhattan and New Jersey Central. South
ern preferred, Leather preferred, Burlng-
ton & Rock Island dropped per cent. each.
AT the finish some support was extended to
a few stocks, causing an irregular clos
Bonds were well held on moderate deal
fngs. Reading issues were in request and
rose 1k411z per cent. on buying apparent
~ based on expectations that the company
would come well out or the coal tonnage
controversy The general sales aggregated
81, SO. 600.
The changes In the bid quotations for
governments were slight. The old COUPON
fours advanced IL per cent. on dealings.
The aggregate transactions were $4,000. In
State securities a rate of 81 900 Louisiana
conso1 fours was recorded.
The following table, prepared by James z.
Berry. Room is. Board OF Trade. shows the