The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-08
NERVOUS ON CHANGE
AFTER EARLY WEAKNESS STOCKS
AND BONDS STRENGTHENED.
The Financial Situation shows Signs
of Clearing Up-Locai Business
More Encouraging.

At New York yesterday money on call
was easy at 2G6 per cent; last loan, 2 per
cent: closed. offered at 3 per cent.
Prime mercantile paper 6a9 per cent.
Sterling exchange was dull. with actual
business in bankers bill at $is90459A4 for
demand and $S7l4G4S77a for sixty days;
posted rates, SfSSQ4.S9 and a.J0Q49O12;
commercial bills. S4.S6a4
Silver certificates. 67@s7l2c; bar silver.
669sc; Mexican dollars, 52z4 At London bar
silver was 30 9-l6d per ounce.
Total sales OF stocks were 269,370 shares,
incIuding the following: American Sugar.
1880; American Tobacco. $500; Atchison.
5l.sOo: Burlington. 1920; Chicago Gas. 600;
Distillers' and Cattle Feeders Company.
300; Kansas & Texas preferred. 400;
louisville * Nashville, 1850: Missouri Pa
cific. $780, Reading. $500; Rock Island. $500;
St. Paul. $1,000; Southern Railroad, 1920;
Southern Railroad preferred. $3.50; Ten
nessee Coal and Iron Company, LOO;
United States Leather preferred. 500;
United States Rubber. 400; Western Union,
1890; Wheeling & Lake Erie, $500.
The stock market yesterday nervous
and evidence was %pretty clear of support
by powerful financial interests. There was
also a covering movement OF large Gimen-
sions. The influences operating on the
speculation were not changed in any mate
rial degree. Reports of renewed disturb
ance. both political and financial. in Europe
and lower prices Tor our securities III Lon
don gave tone TO the local opening. &C
cordingly the market started IN active
and heavy. Rumors of PROBABLE heavy
exports of gold by to-day's steamers, con
fued discussion Of the government bond
call and the probable Developments incl
dental thereto Predictons Oh is m honds
Tor local and foreign account were all taken
into account, but IL was soon patent TO
experienced observers that strong lands
were under the market. No loan certifi-
Gates were applies for by any II tie new
York banks and money on call at the Stock
Exchange did not exceed the legal rate,
anu eventually was offered freely at per
cent, closing offered at per cent. he
engagements of gold for Snipme,<kDy the
Ip!5week steamer. though fairly laNe, ag-
gsegating $2.725,OOO, fell short OF extreme
estimates Tine reports OF increasing Fl &C.
Ton between England and Germany on tnS
Il ranSvaal question disposed 'he rnanciaf
community here TO consider the "a aspect II
> trouble between this country and the first
named nation on the Venezuelan contro-
versy as very remote. The initial Prices
recorded declines of 1G2 per cent, hut the
selling movement soon aDated. and, on a
considerable diminution in the volume of
business. a rally occurred all along the
line. The upward movement WIS inspired
by large purchases OF the International
stocks for foreign account, whiCn led TO
pressure on the part of powerful lanking
interests against the shorts. The dealings
600 shares with St. Paul counting Tor Leafiy
half of the total. The recoveries from the
early low points extended to 3i4 per cent.
IN tobacco. Sugar rallied 2@s; Consolidated
Gas, 2I2: St Paul, Burlington and New
Jersey Central, pa; Pacific Mail and Leather
preferred, ?, and Northwest, 2%s yeT cent.
Late in the day the market vas tested by
the bears and there was some liquidation,
causing recesslons of 1Q212 per cent. the
last in Tobacco. Among the less active
shares some wide changes were BCted.
Minnesota Iron gave way 10 per cent. 10 3d.
and rallied to 30. Pullman receded to las
against 155 yesterday and closed at 150 bid.
Minneapolis * St. Paul second preferred
dropped 3 per cent 10 10. and recovered to
A. In the final dealings prices stiffened
generally. The closing was firm with the
net changes irregular.
Bond prices slumped sharply again yes
terday, with Kansas x Texas issues con-
spicuously weak. The sales amounted TO
81 ,357, 0J0
Government bonds were firm and higher
In State securities slight decline occurred
in Virginia Centuries on dealings of $4,000
The following table. prepared by James E.
Berry, Room 16. Board or Trade. shows the
f.fu tn