The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-15
STOCK LIST DEPRESSED
DECLINES IN A DAY THAT AMOUNT
TO MILLIONS IN MONEY.
COaIers suffer from Antitrust Ru-
mors-Gouid shares Strong
Local Markets Quiet.

AT New York yesterday money on call
was easy at 1Aq112 per cent.
Prime mercantile paper, SlAG4 per cent.
Sterling exchange was steady, with ac-
tual business in bankers bills at $4,S7A0
4.S712 for demand and at $4S6A@4S6lA for
sixty days; posted rates. s4.S7 and $4.SSQ
4.SS15; comEercial bills, $4S5A04S54.
Silver certificates, 612sG615sc; bar silver,
61sc; Mexican dollars, 4712c. At London
bar silver closed steady at Is lie per ounce.
Total sales of stocks were 131, 800 shares,
including: American Sugar, 7,10O; Burling-
ton, u,1G0; Chicago Gas, 1880; Louisville
& Nashville, 300; Manhattan consolidated,
1880; Northern Pacific preferred, $500; New
York Southern & Western preferred,
;,2O0; Reading, 1900, st. Paul, 1900; New
Jersey Central, $500.
The New York market was under steady
and unremitting pressure all day yesterday
from one source or another and the result
is a wide gap of total valuation of securi-
ties compared with the close of Thursday,
which it would require many millions of
dollars to bridge. The only cheerful factor
ia the market was some small early buying
for foreign account, which, however, failed
to sustain values, and the exceptional
strength of the Gould shares. During the
earlier hours of trading the bears helped
w AOboAy III IN oCNClOpulGlllS III ILlO
Cuban question and the governments pro-
posed attitude towards it. The Washing
ton adViceS were held to foreShadow ag-
grcssive action by the government such as
would be likely to embroil the country with
Spain. When later adviceS from the cap
1tal indicated the milder character of the
measures contemplated, and that they
would probably be confined to the dispatch
of relief to distressed American citizens in
nouncement of an additional shipment of
$l,25O,000 in gold bars by to-day's steamer.
This makes the total for che steamer 81
5000, whereas the selling OF stocks earlier
in the week was based upon an estimate
that ~hipmen would aggregate $7,OO0,O 600,
or even $40, 600, 600. 1t is significant also that
these shipments were made on cabled or
ders from Europe indicating the special
character of the demand for the gold. The
volume of purchases of securities for for
eign account during the week has u~ndoubt-
eddy affected the exchange situation. Thu
decrease for the week in the value of dry
goods imported at New York. of $2,O43, zU6 IS
equally significant. The market was weak
and heavier under vague apprehenslons
that there would come late. news OF further
heavy shipments and the bears made this
an effective instrument for keeping up the
depression. Before any notable rally could
occur news was received that the presi-
dents of the anthracite coal roads and COM
panies had received summons from the at
tOrney generals Office at Albany to answer
to charges of conspiracy under the new
antitrust laws. Marked heaviness devel-
eoaiers and sympathy in the entire list,
especially in the industrials, which might
be proceeded against on the same charge as
that brought against the coal companies.
New Jersey Central fell to the lowest price
of the year under this selling. The eX-
treme decline was "a to 75A. The fall in
the other coalers ranged from g TO ia.
Sugar continued heavy and declined rs.
The railway list generally sold on a large
fraction, the oranges leading, but recoV-
cred a portion of the loss before the close.
Rubber preferred lost 112. The Gould shares
were notable exceptions to the OF
the market, Manhattan especially showing
q rise at one time of 1as, with subsequent
reaction Of "a. The gains in the others
were confined to fractions. Throughout
the rest OF the list losses We're general.
The closing was steady, the slight recoV-
cries being well held.
Trading was in small volume in the rail-
way and miscellaneous bond market, with
frmness generally apparent in the specula-
tive lines with Peoria, Decatur d Evans
VILE seconds featured by a decline or l44s
per cent. Northern Pacific terminals, Whlch
have been under pressure throughout the
week. lost 3. and Galveston, Houston d
Galveston, Houston & Henderson firsts
Welded to a similar extent. The aggregate
sales were $736, DOC.
The feature of the government bond spec
ulation was the purchase OF a block or
$500. 600 of the new coupon fours at a slight
advance. The general market also dis
played a hardening tendency. The sales
were $225. 900.
Room II. Board of Trade. shows the range OF