The Indianapolis journal., 1896-01-21
TOBACCO TRUST LED
ACTIVITY ON NEW YORK 'CHANGE
CONFINED TO A FEW LINES.
stock Market Suffers from Financial
and Political Uncertainty-Local
Markets Dull.

At New York yesterday money on call
was easy at 3a4 per cent; last loan. 3;
closed at per cent.
prime mercantile paper, 6as per cent.
Sterling exchange was firm with actual
business In banker5' bills at 81. .S9A for
demand and $4.S7Zq4.SS for sixty days;
posted rates, 81 SSq4SS1k and $3.50: CONNER
cial bills, $s7%.
Silver certificates, s74c; bar silver. 671sc.
AT London bar silver was 30 11-16d per
ounce.
Total sales of stocks were 1920 shares.
Including the following: American Sugar,
1240O; American Tobacco, Is 900; Burlington,
$500; General Electric, $500; Distillers 400;
Louisville * Nashville, 400; Manhattan, g.
800; Rock Island. 1850; st. Paul. 1890;
United States Leather preferred. 3,4Oo;
Western Union, $500.
The professionals who had the market
almost entirely to themselves found IL diff
cult to roll up, in the five hours of business
to-day, a total of transactions exceeding
the two hours record OF saturday by only
x.O00 shares. In only three stocks was there
to be noted even an approach to activity.
American Tobacco slightly led st. Paul with
$500 shares. and Sugar came third with
lZ,lO SHARES. The limited speculation and
an unsettled tone reflected a degree of un-
certainty as to the immediate domestic
financial outlook and the international po-
have circulated various reports and rumors
whereupon to hang a text for the almost
generally narrow movements in prices. The
most important of these were further war
scares. Western Union was unfavorably
affected by rumorS Of discOuraging test
Office returns. which were denied by Off
cials interviewed after the close of busi-
ness. 1t was pointed out that the forth
coming meeting of the anthracite coal pres
fdents would be most eventful one. but
the street, judging by the dullnesS or the
coal stocks, is not enthusiastic and will not
be until IL is made clear to the rank and
file of the financial community that the con-
ference will result in more serious rehabiii-
tatory work than followed the opera bouffe
consultations of the presidents in 1895. Ex-
perienced people, however, are sanguine Of
a genuine effort to reform the trade, with
the prospective powerful lever of tho sue
cessful completion OF reorganization OF the
Reading railroad. Three leading gold
shipping houses reported an intention to
ship an aggregate of s1.55o.0t0, and another
firm was said TO be figuring on a shipment
of $4,000 TO s, 900. 900. London prices came
lower and the initial quotations were pretty
evenly divided between gainD and losses,
but with the trend downward. The ten
dency toward lower range soon became
manifest, with General Electric showing
loss OF rs per cent. The Vanderbilt stocks,
on nominal dealings. gave way sharply also.
The selling pressure was soon exhausted,
on moderate buying. chiefly by shorts,
the market improved all around, the most
noteworthy advances being recorded In the
industrials. Tobacco moved up per cent, to
81. on covering. The stock commanded one
planned as due presumably TO a demand for
transfer purposes. General Electric sold UP
u to 55s, Leather preferred, rs and most
other stocks liberal fraction. In the late
session a reactionary movement occurred.
in which large part of the early gains
was lost Tobacco fell to 1885 and General
Electric to 247s- Around delivery hour sup
porting orders appeared and prices stiffened
: generally. The closing was firm.
Bonds were dull and easier. Atchison
seconds led with business of Sill, 600 out of
q total OF $1,04S,000
Only 81 900 done in governments. The
new fours, coupon, rose i per cent on the
bid quotation. In State securities only 5000
changed hands.
The following table, prepared by James e.
Berry, Room 10. Board or Trade. shows the
range of ouotatious.