The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-12
LIGHT STOCK BUSINESS
GENERAL SHARE LIST STEADY AND
CHANGES UNIMPORTANT.
U~nfavOrable Ira file Returns Inau-
enced specuiation-LocaI Mar
kets More Active.

At New York yesterday money on call
was easy at 11s per cent.
Prime mercantile paper, 315dfa per cent.
sterling exchange was firm. with actual
business i'm bankers bills at $.s7hG4s71s for
demand and at $4sf4@4.s41s for sixty days;
posted rates. $~4.s4zG4s5I. and Si.s7Iha4Ss1L:
commercial bills. A.S3A.
Silver certificates, 64Ac; bar silver, 64a "a
60Ac; Mexican dollars. 5O%c. AT London
bar silver closed at % 11-16d per ounce.
The total sales were 127 5a shares. in
GLIDING: American Sugar, II, 100: Burling-
ten, 400; Delaware & Hudson, BOO: ST.
faui, 5000; Tennessee Coal and Iron, $500:
Union Pacific. $500; Western Union. Zoo:
Wabash & Lake Erie. $500.
The New York stock market Yesterday
was generally heavy. but irregular of move
ment, under the influence of liquidation i'm
Union racine, a firmer market for ex-
change and unfayorable traffic returns for
the hrst week in January. The volume of
business was very light and the dealings
mainly professional. The specialties were
prominent and scoIed exceptionally wide
fluctuations in some instances. particularly
Illinois Steel, which. after yielding a frac-
uon to 3lA. rallied to 80. Minnesota Iron.
on the other hand, fell "a to 81. The high,
priced coal shares were decidedly heavy ON
reports OF an unsatisfactory condition of
me anthracite trade Lackawanna sold off
Z per cent. ana New Jersey Central IL, per
cent. on the theory that the management
OF the respective companies will be forced
70 ioilow the lead OF the Delaware & Hud-
son and reduce their dividends. Pressure
was exerted against certain stocks for ef-
Iect on the general list. Further discussion
OF the alleged radical cuts in soft-coaI
prices and by the Baltimore * Ohio was
loioWed by a break of 81 per cent.
In Wheeling & Lake Erie preferred to
90 Union Pacific was the feature OF the
railway list, and was quite irregular. on
the downward movement, being influenced
Dy washington dispatches forecasting and
rnaisy IormaIiy announcing. the defeat of
the fundfng bill. The fate of the measure
had been believed to be fairly well dis
counted, but the news caused decided weaL-
iss Inc stock overshadowed the general
per cent. at SIS. but sold off to Z and rallied
10 SIS on covering. subsequently yielding to
Ola. or a fraction below the price ruling Aft
er the defeat of the Powers bill. The re-
organization syndicate has evidently lost
nope OF the passage OF the bill. as evidenced
py It's preparations TO step i'm and buy the
property IL offered at foreclosure sale. Lon
don purchased freely of the internationa
SHARES. but the traders appeared to favor n
reaction. Manhattan and General Electric
We're hammered rs and IL per cent. re-
spectively. The other declines were mainly
fractional, and support was received AT in
terVals on covering OF short contracts. The
general list developed a better tone i'm the
late trading under the leadership of Sugar
and the market left off firm at slight net
changes. nv
Bonds were fairly active, and. as n rule.
nlgner prices were scored. The sales were
si.-iz.oUo. The principal gains ranged from
s*1I12 per cent. and the more important
declines from las per cent, the last i'm Ten
nessee Coal firsts. Birmingham division
meThment bonds Were In moderate de
state issues were firm. on sales of $500.
The following table prepared by L. w. Louis.
quotations: ~ 's range Oh