The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-04
A SAGGING TENDENCY
STOCKS SUFFER FROM SUSPENSE IN
FINANCIAL CIRCLES.
Foreigners Selling American Securi-
ues-Indicntions OF Bright Trade
Conditions Locally Soon.

At New York. yesterday, money on call
was 4dS per cent; last loan, 5; closed easy
at 4Q5.
Prime mercantile paper. 7G10 per cent.
Sterling exchange was firm, with actual
business in bankers bills at s4S9l404. S91z
for demand and $4.S7s4q4SS for sixty days;
posted rates. $4SSd4.S9 and 81. 90a A. O1z; COM
mercial bills. S4.s6s4.
Silver certificates. s1@67Ac: bar silver.
66%&c; Mexican dollars, 52a4c. At London bar
silver was 3O1zd per ounce.
Total sales Of stocks were 15OSS3 shares,
including the following: American Sugar,
1890; American Tobacco, q, 900; Atchison,
500; Burlington, 800; Chicago Gas, 1850;
General Electric. 800; Louisville & Nash
vile, 1880; Reading, $500; ST. Paul, 1880;
United States Leather preferred, Is, 400;
Western Union, $780,
The New York stock market displayed a
sagging tendency in prices during the
greater part of yesterday, and the specula-
tive movement was sluggish Suspense is
growing acute in financial circles regard
ing the proposed bond issue, as the matter
had been generally expected to be closed
py this time. The same condition applies
10 almost all other branches of Wall-street
business, which are rendered unsettled by
D
decided interest The conflicting influences
OF premiums on gold 10 arrive and cOinci-
dent exports of gold from this country
uncertainty regarding the probable course
or the money and commercial paper mar
kets, and the liquidation in American Sc
curltleS in London, due to the Transvaal
lnlDfoSlo, and other causes, all contribute
TO the disquet of local dealers and in
Nestors- Foreign Gales came lower previ-
Gus TO the opening here and the arbitrage
operations for London account were for
sales. a reported fncrea sc in the premium
on gold as a commodity to IA per cent.
bid and ~ asked, AM the engagement of
Sl,WO,CcO in god for export to Europe to-
day, also appeared to IeJplex the profess
slonal dealers who at 7 esent control the
stock tape. Leather preferred de-
pressed rs per cent. on rumors that the
forthcoming dividend would be scaled or
passed This revived discouragfng sugges-
tionS as to the adverse effect on the COM
panyS business to result from the intro
ductiOn OF the velOcitan process for tanning
leather. Tobacco displayed marked strength
throughout on reiterated runners now quite
familiar of an impending compromise with
the independent manufacturers, involving
an advance OF a cent a pound In Battle
Axe" plug brand. Whatever the merits of
the reports may be, they occasioned a stam-
pede of the shorts to cover, resulting in an
advance OF 5A per cent, to 81, with the inn
provement most marked in the final hour
The buOyafcy of this speciality had a
strengthening influence on the general mar
ket late in the day, which was helped by
decided tendency toward in call money
rates. Recoveries from the low points were,
accordingly, ranging from l to 1ss per cent.
IN sugar, st. Paul General Electric. Man
haitian. New Jersey Central, Tennessee
Coal, Leather preferred and Baltimore &
Ohio The closing was slightly more active
and firm in tone.
Business in railway and miscellaneous Sc
curities was moderate, with lower prices
ruling. The sales aggregated S1116,OIO. The
recessions were headed by Baltimore &
Ohio fives of 1925, which fell 101a per cent,
20 go and Baltimore Belt firsts, guaranteed,
97s per cent, to "a. Some substantial gains
We're noted in other usually inactive mort
cages.
There was a sharp recession in the bid
quotations for the new tours, the last call
showing a concession of 1i5 per cent. The
fves also sagged sharply, but improved a
half per cent. on the final bid. Only 5000
Of bonds were dealt in. In State mortgages
5000 Virginia deferred skies, stamped and
$1,000 deferred centuries, changed hands at
q slight Improvement in prices
The following table. prepared by James T..
range of quotations: