The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-12

coal properties The action of the directors
or New Jersey Central in liking the dlvi-
dend rate at 4 per cent. instead or per
cent seemed to reassure holders for the
moment, there has been fears expressed
OF Il lower rate or OF passing the dividend.
again sagged to the lowest, ffuctuating
WIDELY ali through the week and closing
at net decline of rs. The other coalers
range, and closed with a net loss OF a
point or over, except Delaware HUDSON
This depression was Ielt sympathetically
all through the market and the con-
slant resource of the bears in driving down
prices. The effect of these drives was TO
discourage speculation in railroads, the
market Tor which was dull all week and
comparatively f1rnl, the general net decline
in their prices being restricted TO a frac-
ton. But in a number or the SpecialtleS
the trading has been large and the changes
in prices often very marked The PROBES
sional traders, however played large part
in this class of dealings, and the changes
were largely the result OF manipulation.
Chicago Gas was quite largely sold in an
ticipation of the municipal election in Chi
cagO. That il was, in fact, oversold was
made manifest by the large covering move
ment after the election. There was also
on the week being AZ points. TO sSls.
All the New York gas securities
enjoyed rise on account of the action of
the Senate at Albany in passing the bill APP
proved by the companies for progressive
reduction ia the price of gas or cents
year to 81 per thousand feet. Brooklyn
~. and Consolidated Gas Jumped ga to
1914 and lost the fraction. Sugar was
largely dealt in. a good proportion OF the
of the selling for profits by traders. There
was no news regarding the stock ASIDE
from the large imports of raw sugar COM
ing into the country, which Is expected TO
realize handsome profits on the increased
price to result from the tariff The tone OF
the money market has continued easy our
ing the week and there has been a marked
diminution in the volume OF loans, tnousn
IL Is 10 be taken into account that trust
companies have done good zeal OF pusl.
the large Importation which has set in eS-
pecially of sugar, does not appear ana IL Is
believed that the importers were able 10
finance these operations themselves. Rates
were well maintained In spite OF the quill
ness. Call funds ruled at l12ql%, the Duik
Of the being az he sh had at sma
per cent. for from thirty days 10 Twelve
months. There was a more general inquiry
for commercial paper and liberal lines were
taken by the trust companies ana out-of-
Foreign exchange was easier in the early
part OF the week on the lower rates Tor
omen market discounts abroad and the re-
duction in the Bank of England's minimum
rate of discount from to 212 per cent The
tone became frmer towards the end or the
week owing to scant offerings of CONNER
cial bills and the increased volume Oh I'M
ports.
transactions in bonds were largely con-
tracted and the market displayed little fea-
ture Values generally moved In sympathy
with the share speculation and operations
Comparative prices are mainly below last
weeks final prices, but the recessi0ns are
trifiing. The aggregate sales were 20 $50 OOo.
Government bonds moved steadily up
ward on light purchases, with the new
fours attaining the top level. The sales
were $4,000.
The following table. prepared by L. w. Louis.
Room IL. Board of Trade. shows the range OF
quotations: