The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-26
A DECLINE in STOCKS
REACTION SET IN on ACCOUNT OF
LOWER FOREIGN MARKET.
In Activity Tobacco Trust Led the
business ON 'Chanse-Locaf Mnr-
kets Continue sluggish.

At New York. yesterday money on call was
easy at 3@3 per. cent; last loan, 3; closed
s0sA.
Prime mercantile paper. 5d7 per cent.
Sterling exchange steady, with actual busi-
ness in bankers bills at $4-s71kq46A for
demand and s4ss14G4S6i5 for sixty days;
posted rates. sLs794.s71S and si.sSiz44ss
Commercial bills. $4s5lz-
Bar silver. 785sc; silver certificates, 6Slz@
SIC. At London yesterday bar silver was
81 5-16d per ounce.
Total sales of stocks were 250.Si7 shares.
including American Tobacco. H1OO; Atchison.
500: American Sugar. 1900; Burlington. s.
200; Baltimore Ohio, 400; Chicago Gas,
1900; Denver & Rio Grande. 1900; DistillinS.
$50; General Electric. 11,700; Missouri Pa
cifc, 1850; Rock Island, 10700; st. Paul.
21,7O0; Tennessee Coal. 800; Union PACING,
= 400; Western Union, 800; Wheeling q Lake
Erie, 800.
Reaction was the order of yesterdays
stock SPECULATION, the initiative coming from
London, where lower market for American
securities was reported Estimates of for
egn selling In this market ranged between
10000 and 1900 shares. The bear element
dete indications of liquidation and pressed
the market to the fullest practicable extent.
The industrials assumed the leadership in
point of activity, the combined transactions
In Tobacco and Leather preferred footing up
one-quarter Of the entire dealings. The for
ferred to caused lower prices on the New
York Stock Exchange, and further conces-
The most severe losses were made in the in
dustrials and specialties, particularly Leather
preferred, which yielded 2ss per cent. on sell
the directors to declare dividend at yester-
days meeting. The downward movement
was accelerated by the catching of numer-
A nnfaVOrdDle
forecasts of the probable summing up OF
the experts who are making an examination
of the general condition and prospects OF
the Baltimore & Ohio was improved by the
traders. who effected break OF 3as per cent.
in the stock There was subsequent re, re-
covery Of rs per cent from the extreme low
point The improvements were short lived,
as a renewal of aggressive tactics by the
traders brought about selling movement
at midday in which most of the rally was
lost. Manhattan dropped per cent. The
official statement OF the treasury ss5 y, goa S re-
the 800 00o, 900 limit an increase OF over 3d.
100000 from Mondays figures, had some effect
O'Clock Tobacco suddenly assumed promi-
nence in the last hour by decided heaviness,
resulting in a rapid break OF per cent. q. on
development was a vague rumor OF either
adverse legislation or an unfavorable decision
actual or in prospect. The weakness OF this
stock was communicated 10 the general
market, and. together with the news OF the
defeat of the Dngley revenue bill in the
ment all along the line, in which declines up
to per cent were scored. with Sugar and
the grangers the chief sufferers. The clos
ing was heavy in tone, with severe net losses
in some shares and fractional declines gen.
eral.
The early dealings in railway bonds were
attended by decreased activity, but firm
tone prevailed. In the late session, however,
marked heaviness was displayed in the Atch-
fson and Northern Pacific issues, which was
in turn communicated to the other securities
and caused a depressed tone at the close.
q 81 -txr In xyfo
of the weakness in the stock. rose per
cent. to 80. The aggregate dealings were
81, 600. The principal net declines were in
Fort Worth Denver. firsts, trust
receipts, 2; Northern Pacific threes l; North
ern Pacific consol fives, IL; Northern Pa
cifc trust receipts, Ia; Atchison adjustment
fours rs and Atchison fours, trust receipts,
] per cent.
Prices of government issues were shaded.
Transactions of $15S, 900 were recorded. Vir-
ginia deferred skies, stamped. were in de-
mand and rose slightly on purchases of $780,
900.
The following table. prepared by James r.
Berry, Room 16, Board of Trade. shows the
range of quotations: