The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-31
STOCK LIST SLUMPED
EARLY ADVANCE LOST AND THE
CLOSE WAS UNDER SATURDAY.
Granger Shares the Heaviest Sufferers
When Decline Set In-LOcal
Markets Steady.

At New York yesterday money on call
was easy at 1G115 per cent; last loan, Il
per cent; closed 101A per cent.
Prime mercantile paper, 912Q4A per cent.
Sterling exchange was firm, with actual
business in bankers bills at $.S55s for de-
mand and at $4.S33sd4S312 for sixty days;
posted rates. $4.@R@4S5A and $4S612q4S7;
commercial bills, s4S2.
Silver certificates, 52d53c bar silver, 521sc;
Mexican dollars, 4lAc. AT London bar silver
closed at 241sd per ounce.
Total sales of stocks were 3,26S shares,
including: Atchison, 1850; Atchison pre-
ferred, $4,000; Chesapeake & Ohio, $3.50; c..
Il. & O.. 1850; Lake Erie & Western, o.
1863; Louisville & Nashville 1920; Missouri
Pacific, 1920; Missouri, Kansas & Texas,
pref, 4,S10; New York Central, 3040; North
ern Pacific preferred, $3.50; Northwestern,
1900; Ontario & Western, 1900; Reading. H.
los, Rock Island, % $50; ST. Paul. 1850; St.
Paul & Omaha, II ,995; Southern Railway,
4,710; Southern Railway preferred, 1925;
Texas Pacific, 1865; Union Pacific, $500;
Wabash preferred, 1856; American To-
baeco, 4425; Bay State Gas, 100; Laclede
Gas, $3.50; Pacific Mail. Is. $50; Sugar, 10,100;
Tennessee Coal and Iron, 1850; Leather
preferred, $500 Western Union. 1902;
Chicago Great Western. 1920.
The New York stock market moved up
yesterday morning and down in the after
noon weakness being due pa:en,ly to
heavy profit taking in the grangers, which
had moved up buoyantly in the morning.
Chicago Great Western suffered most Sc
verely from the liquidation and showed a
net loss of IA. Omaha showed a oontlnu-
ance OF Saturdays strength and moved up
Ia above Saturdays close, but lost ii Ill
Rock Island alone of the group closed frac-
tiOnaly higher. The selling movement in
the grangers affected the whole list more
or less and many prominent stocks clio. ed
below Saturday after having been material
~ above at one time during the Jay. Some
of the recent speculative favortes had
achieved so larg an advantage that the 0e-
cline left them something to the good and
Missouri Pacific closed with a net gain of
1R. Wabash preferred, after an advance of
1A, closed with net gain of ia, and Ches-
apeake e Ohio closed q below the top, with
net gain of nearly point. Atcnison PIE
ferred, Western Union and Union Pacific
also showed fractional net gain. These
are the notable exceptions TO the general
showing of net losses in the list IF active
and prominent stocks. The group Of ,-0
and steel properties were all strong, Illinois
Steel, Colorado Fuel, Minnesota Iron ami
Tennessee Coal closing higher the latt@r
two TO the extent of over point. There
were also some remarkable gains shown in
The inactive list notably Lake Erie &
Western. The common stock Of this rail
road rose points and the preferred 1%
pittsburg, Cincinnati, Chicago Il st. Louis
preferred also rose points. In the INDUS
trial group National Starch sold q polnt
higher, the first preferred five points high
er, and the second preferred ten points
higher Leather preferred sold up and then
sold down and Sugar fiuctuated in an err
ratio manner over "A narrow range. Local
gas stocks continued strong on account of
the proposed consolidation of interests in
volved. Lackawanna dropped points on
a single transaction. although the coalers,
as a group. were quite firm The days mar
ket was almost wholly technical. the news
continuing entirely in favor of increases of
prices. London prices for Americans came
somewhat lower but improved during the
day, without apparently having the slight
est effect on this market one way or the
other The buying was on a large scale by
prominent operators, supplemented by ex-
ecuuon of commission house orders and
the selling was TO take profits, the !tquida-
ton being encouraged also by some talk of
damage to corn crop.
Railway bonds were strong and generally
higher and suffered less from the reaction
than did stocks. Total sales So. 500 000
United States bonds were bid up Is to Il
all around.
The following table. prepared by L. w,
Louis. Room II, Board of Trade, ShoWs the
range of quotations: