The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-29
HEAVY STOCK TRADES
DEALINGS ON 'CHASGE REACHED
NEARLY HALF A MILLION.
Share List Active All Day, with Ten
dency tn Lower Prices-LOcal
Markets Satisfactory.

easy al 3fI51z per cent. last icaus ., cioStu' D.
Prime mercantile paper. 5lsgsA per cent.
Sterling exchange was steady. with actual
business in bankers bflls at s4.S7ssG4.ss for
demand and $issizG4 $50 for sixty days:
posted rates. $4-s79fs71z and $4:ssiz1i.s9;
commercial bills. s4S5A.
Bar silver. Csc; silver certificates. $50
6s74c. At London bar silver was SID per
ounce.
Total sales OF stocks were 1892 shares,
including: American Tobacco, 300; Atchi-
son. 400, American Sugar, $1,000; Burlington
e. Quincy q, 400: Chicago Gas. 10000: Denver
& Rio Grande preferred, 400: Distillers' ard
Cattle Feeders. 500; General Electric, GOO;
Louisville & Nashville 100: Manhattan
Consolidated. 500; Missouri Pacific, 4.so;
Northern Pacific preferred. 1890: Pacific
Mail. $500; Reading, 500; Rock Island, To-
100; ST. Paul. A.100; Tennessee Coal and Iron,
100: Union Pacific. 1890; Western Union.
$500; Wheeling & Lake Erie, 800; Southern
preferred. $500.
The volume OF business in stocks yesterday
about doubled Thursdays record. the total
footing up 10000 shares. as against 212,000
yesterday. Decided weakness characterized
the trading during the greater part of the
day. and at times the market took on a
ragged appearance. Wholesale liquidation
was noted. and there also vigorous
pounding by the old-tir1e bear leader and his
following The selling movement received its
chief original impetus from Washington, and
leading houses having wire connections with
that city threw over large lines on leading
Broadway commission houses, putting out
10000 to $1,000 shares of stocks for both ac-
counts. including Sugar, st. Paul. Chicago
Gas and Tennessee Coal. The first-men-
uaH far rlxr rto,
of the large aggregate of transactions. and
scored decline on the day OF 6Ss per cent
The extreme decline was per cent, and the
closing showed loss compared with
Thursdays final figures of "a. per cent. The
greater part OF the selling was for account
or the inside pool, which has for several
weeks past been active in advancing the
stock Leather preferred was about half as
active Sugar, ard sold down extreme
OF "a per cent. 10 1914. ii left off at net
decline of about point The depression in
the stock was due TO the continued circula-
ton OF circumstantial unfavorable criticisms
OF the annual report and affairs of the com
pany- For example, 1t is claimed that the
current impression that the company has
paid on the 100000 OF floating debt. shown
sources have been tied up as result OF
gigantic specula ton in hides. 1t is recalled
that the misfortunes OF the National Cordage
were primarily due to similar policy. st.
Paul came third in point of activity, and
only about 1000 shares behind Leather pre-
ferred- An unusually large business was
attempted explanation for the slump was
that the large interests were apprehensive of
possible disturbance of the market in the
event OF the unexpected heavy vote in the
Senate in favor OF the recognition OF the
belligerency and independence OF Cuba
Nevertheless. shrewd observers have for sew
erai days past regarded the market toppy,
believing that stocks had passed into weak
hands The market opened strong and high
quotations. and by liberal foreign purchasing
OF ST. Paul and Louisville & Nashville. The
gains at the outset extended to II in the
Ohio rose "a per cent on belief that the
crisis In the affairs OF the company had been
averted. In the late dealings, the price
sagged 10 slightly below Thursday nights
level The upward movement soon cumin-
ated. and depression succeeded and continued
nnss Of q The a as' efsc
shares. common and preferred made a dis
play OF strength at one time. in marked con-
trast to the other market. and rose Il and ia
per cent. respectively. on the unfounded as
sumption that a reorganization plan had been
officially. formulated and even underwritten.
Inc selling movement was in full force in
rhe more prominent shares around 2:3O and
aside from the losses already noted. the ex-
snd from the top isyel were
Vile * Nashville and General Electric 3is;
Consolidated Gas and Baltimore e. Ohio, 3;
2is: Chicago Cas- ca: Manhattan. Kansas e.
Texas preferred and Lackawanna. pa. and
Northwestern. ga. brisk covering move
ii4cnt dDOul 40, IN winch TecONerleS
were made of 19s per cent. In Leather pre-
fererd; Burlington. Ia; Sugar. 1%; Manhat-
tan, rs: and Pacific MaM louisville & Nash
closed strong in tone, but with heavy net
losses IN many shares.
The market for railway bonds exhibited an
improved tendency in the early session. I'M
der the leadership Of the Northern Pacific.
which were helped by rumors noted else
where The gains averaged about per cent
IN the issues referred to- Baltimore & Ohio
was marked up to 81. as against the offers of
q. sellers ~. the final quotation OF yester-
day Late IN the day the market was some
what affected by the depression in stocks.
The dealings were 81. 1S6GO0
government bonds also displayed sagging
tendency. and sales of $1,000 at slight con-
cessions. In State MORTGAGES, 6. 200 OF yir-
ginia centuries scld at 61ih
The following table. Drera red by lanes =
Berry. Room 16. Board of Trade, shows the
range OF quotations: