The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-28
STOCK LIST DEPRESSED
SPECULATION YESTERDAY CONFINED
TO THE PROFESSIONALS.
Stir Money Rates Generally Ascribed
to Union Pacific Payments-LOcal
Business Very Quiet.

At New York yesterday money on call was
firm at 3Q4 per cent; last loan, per cent. );
closed, ga S1z per cent.
Prime mercantile paper, 315@43l per cent
Sterling exchange was firmer, with actual
business in bankers bills at $4S4A@4Si1h for
demand and at S4.S11294S1% for sixty days
posted rates, $4.S115@4.SS and $4.S514@4. Sc;
commercial bills, $4.S1.
Silver certificates. 57Gi5Sc. Bar silver, SIC
Mexican dollars, 1880.
Total sales of stocks, 2S7 400 shares, in
GLIDING: Chesapeake s, Ohio, 9,193; Chicago
Burlington & Quincy. 1856; Louisville &
Nashville, 5000; Manhattan, 81 1926; Metro
politan Street-railroad, 9,617 Northern Pa
cific preferred, $50; Reading, 1880; Rock
Island, 6,645; ST Paul, 9.154; American To-
bacco, 4,24O; Chicago Great Western, 1868;
Lead 3445; Sugar, 44Ol1; Tennessee Coal
and Iron, 9,s4O; " estern Union, $3.50.
The only active interest in Mondays stock
market was manifested by professional
traders, and they devoted themselves al
most altogether to the recent speculative
favorites of the market, which are COM
prised in one group known as the special
ties, and more particularly the stocks OIL
New York corporations and traction COM
panies The tone of the trading was unset
tied at times, and decidedly feverish. The
strength in specialties caused a. strong open-
ing and upheld prices i'll the general market
so lar as there was any movement
marked weakening IN sugar ana a general
movement 10 reailze, Que to the continued
SuhnesS or money and to some extent to
expressed apprehension over the threaten
ing developments in the Tar last carried
prices beAow iast weeks level. where they
remained, IN the case of many leading
stochs until the close. 1t was a holiday i'm
Lonaon, and there were no quotations for
British consols, the accepted barometer of
european politics. There was, however
trading on the continental bourses and re-
ports from there did not indicate any acute
apprehension over the outlook in China
1here were some railroad stocks which
showed exceptional movement One of
these was Chesapeake Il Ohio. which was
bought heavily by leading bull operator
and which advanced nearly a point The
four-and- a-half-per-cent bonds OF this com
pany We're also IN good demand and ad-
yanced IL per cent. St. Pauls net earnings
Tor November, showing an increase or
SH4,1S1, faiiea to sustain that stock, which
shared In the heaviness of the whole
granger group. except Burlington, which
was particularly active. The third week
statements at hand of Southwestern rail-
roads were not very favorable, notably that
Tor Kansas & Texas, which showed a de-
crease of $23 49, and for st. Louis South
pared with last year. The situation in the
money market hinged on the Union Pacific
payment and the Pacific bond redemption.
clearing house was 81, 357, $685. ana this about
represented the government checks for re-
deeming the Pacnc bonds which have come
through the banks More were coming yes
terday, and the government is still sending
out checks from Washington for the fur
Their payment. But money from this source
had not come back into the market with
sufficient freedom to prevent 1t feeling the
Union Pacific payment to the government of
about $S500,000, even though 5000 90 of this
IS left by the government on deposit in New
York. There was considerable calling of
loans, and the rate paid to replace them
ranged from S1s to AZ per cent. with the
majority at per cent. There was a rise
also in the rates of sterling exchange which
precluded the idea of any immediate fur
Their gold imports. In the final dealings
there were some sharp reactions in the
specialties and the coalers which wiped out
all the previous gains, and in some cases
left prices materially lower. Manhattan
was notable exception, closing near the
top at net gain of 2ss. Most gains and
losses in the general list were rather mar
row and mixed
The tone of the bond market was firm
and in some cases sharp gains were shown.
Total sales. 81 SOC, 600
The following table, prepared by L. w.
Louis, Room II. Board of Trade shows the
range of quotations: