The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-26
STOCK TRADERS BLUE
LAST WEEKS CHEERFUL TONE NOT
APPARENT YESTERDAY.
The Bear Clique I'm Control and Prices
Consequently Depressed-Local
Markets Quiet.


At New York yesterday money was easy
at 1902 per cent: last loan, 2: closed, 11zQ
3 per cent.
Prime mercantile paper. 4651z per cent.
Sterling exchange was steady, with actual
business In bankers bills at A.SSlka4.SSss
for demand and s4s71z04S7s4 for sixty days:
ported rates. s4.sS04.S9 and si.Sslka4s0; COM
mercitl bills. si.SGa1-
Bar silver. 6sizc; silver certificates, 6sis
@6Ss4c. The exports CT silver from this
country to Europe up TO last Saturday
amounted to about $40 600, as against sl3,
0O0.G00 in the same time last year. The in
crease represents silver shipped to Paris for
coinage into Russian roubles The require
ments for this purpose are understood to
have been practically filed for the time be-
ing Silver is quoted at 6SAc bid, adj
vance OF 4 per cent. from last weeks final
price.
Total sales of stock yesteday were 12s $780,
Including the following: American Tobacco.
100: American sugar. 10000: Burlington &
Quincy. 500; Louisville & Nashville. 5000;
Manhattan. $500; Northern Pacific. 1900; st.
Paul. $500; w. e. L T., 1000.
There was no reflection in yesterdays
stock market of the cheerful sentiment
that had characterized the closing specula-
ton In New York last week. Business was
on q moderate scale and the tone Of the
market was depressed. vigorous efforts
against prices being made by the board
room professionals. particularly in some of
the speciaities.
The bear contingent had absolute control
OF the dealings after the first hour and soon
developed the existence of stop orders in
several properties. notably Manhattan. The
unfavorabie influence bearing on prices in
Guided engagements of 81, l55 600 in gold for
shipment TO Germany to-day and the ex-
2ectatton OF increased exports later in the
week. an unsatisfactory showing of earn
.ngs by the st. Paul for the third week and
:. falling of in the Chicago tonnage east
3ound The aforementioned item led 10 SELL
ing OF grangers and Southwestern shares,
as confirming the reports of the slow move
ment OF cd corn The reactionary tenden-
cy induced realizations of profits accruing
On last weeks rise and there was also evil
dence OF liquidation The market. did not
receive any assistance from the foreign
financial centers. owing to the close observ-
The selling pressure became quite marked
as the day progressed, some OF the usually
tention OF the bears. AID the greatest weak
ness was displayed in the closing opera
lions. The final prices were at the lowest
or the day. The market opened irregularly,
with the more important variations in
prices confined to the Industrial group To-
bacco started per cent higher and Laclede
shortly and general fractional rec0veries oc-
Cured, the market apparently having dis
counted the gold engagements. The dull
ness that ensued, however, inspired a drive
against the list after IL o'clock, and under
sales for both accounts. declines of 1851 per
cent. were recorded in the prominent
stocks. with Manhattan the chief sufferer
The break In the last mentioned was con-
sidered due 10 realization OF profits. La
clede Gas fell "a per cent TO 2sA iqui-
dalton and closed within a fraction of the
lowest despite the declaration eof the reg
ular serni-annual dividend OF 21s per cent
and of an extra disbursement of per cent
on the preferred stock Sugar broke 2i5 per
although some Improvement was noted at
the outside on the announcement OF q fur
Their advance of 1-l6 cent in the refined
grades OF the product. Tobacco broke IL
Louisville < Nashville and Southwesterns
averaged about point decline. Considera-
Die comment was excited by decentralization
In Brooklyn Elevated bond prices to-day on
LIQUIDATION, attributed 10 the acute shrink
age In the earnings due To the trolley COM
petition. Union Elevated frsts declined SD
per cent to 50, with a recovery to S4a.
Brooklyn firsts lost S% to s. and Brooklyn
seconds 10 per cent to 90
The bond market displayed weakness ap-
proaching decentralization In some instances
and particularly In the Brooklyn L
issues elsewhere referred to. Fort Wavue
and Denver City firsts, trust receipts, lost
So per cent. and Omaha and ST Louis
nrsts. trust receipts. per cent. The recess
sions among the more prominent issues
were fractional The sales were ss23 GOO The
more important OF the other declines ranged
from l 10 per cent.
Government bonds were weak and lower
on sales OF 81, CO.
The Following table, prepared by L. w.
Louis. Room IL. Board OF Trade. shows the
range OF quotations.: