The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-18
REACTION IN STOCKS
UPWARD TENDENCY TEMPORARILY
CHECKED b PROFESSIONALS.
Dealings Fall on, and Vanderbilt
Shares Alone main Firm-LOcal
Business Has a Setback.

st New York yesterday money on call
was easy at 12a2 per cent.
Prime mercantile paper. 3l4 per cent.
Sterling exchange was easier. with actual
bushes in bankers bills at s3.S7 for de-
mand and sS.s54@3.s5la for sixty days;
posted rates. s4.s6s and $4.SSdi.sS15; COM
mercial bills. $4.S4s4.
Silver certificates. 62Aa62slc; bar silver.
6215c; Mexican dollars. 4sc. At London bar
silver closed at 2s Slid per ounce. The sill
yer market is dull. but slightly frmer. The
buying abroad continues very limited and
the situation is considered problematic until
the action of the Japanese Hous of Lords
on the bill for adopting the gold standard
is determined. 1t Is felt here In New York
that the future of the market depends on
American offerings. which is the view at
tributed to the London Westminster Ca
zette. according. to the cabled report.
America being a producer of silver, is
bound to be a seller in any event.
Total sales OF stocks were 200, 101 shares,
including the following: American Tobacco.
13,J00; American Sugar, 80, 200; Burlington &
Quincy, 1890; Canada Southern, 6.0O0; Chi
cago Gas. trust receipts. $500; Cleveland,
Cincinnati. Chicago & St. Louis. IL. 800;
Chesapeake az Ohio. $500; General Electric,
1900; Manhattan Consolidated, 3, 400: Mis-
souri, Pacific, 1920; New York Central, s.
500: Northwest, $500: Omaha. 1900: st.
Paul. $500; Western Union, 500; New Jer-
sey Central. 400; silver certificates. $1,000.
The reactionary element on the Stock En-
change was able TO check in part the up
ward tendency of prices yesterday and the
net result of the days trading WIS a gem
eral loss of a fraction, most of the Wander
bilt shares being the only EXCEPTIONS. 1t Is
a fact worthy of special sotice that the
volume of the trading N this react;onary
market fell off quite largely frcin that of
Tuesday. the total sales of the ,ay rIGm-
bering t2. 200 shares, as against 23S. 000 the
day beIcre. A large amount % the dcsiirgs
were in those stocks which held firm. The
falling on on the downward course of
prices was notaDle. as IL has been for some
this, for those who lament the decline of
business on the Stock Exchange and who
express the fear hat Luc6et shops rave
taken away the business of the exchange.
Plans have been suggested for the suppress
sion of the publication of Stock Exchange
quotations as a cure for this decline of busi-
ness. But the appreciation of "alues of Sc
curities dealt I'm ON he eXchInge seems,
from the lesson of events. to promise a
rious factors came TO the aid II me bears
In the market. The marked TeIression on
the London and continental exchange gave
It's tone to the opening here ana continued
to influence the market To 4 create or less
degree all day. 1t was estimated that the
London contingent sold about $1,000 shares
"a AiA' RN'A~
Ing was noticeable in most OF the interna-
iionai stocks. especially IN 81. Paul and
LOUISVILLE Nashville. The influence of
foreign depression seemed to have been
overcome soon after the opening, and the
strong buying movement in the Vanderbilt
stocks. which has been a feature for several
lays past, was again in evidence. Strong
support also developed for Missouri Pacific
and wabash. which were the centers of the
bear attack yesterday. Weakness de-
veloped. however. in Tobacco on uneasiness
In regard 10 the coming action of the di-
rectors on the dividend, and the stock was
forced down rs, to 20 Manhattan also lost
rs per cent. and New Jersey Central and
Reading y each on the depressed condition
OF the anthracite coal trade. About mid
day support was again shown for the mar
ket. the buying of the Vanderbilts beir z
again strongly manifest. Omaha rose ga to
s.. New York. Chicago & Northwest firsts
preferred. , and Chicago * Northwest sec
ond preferred, rs: Canada Southern. 15s:
Tobacco also recovered III. Consolidated
Gas Ia. and the grangers and Southwest
vrnS I" h rraSyoh- H fns DstuT Wanfex Goal coal roads
cent. The upward tendency of the market
was checked by profit taking, Sugar.
Omaha and Missouri Pacific being the
greatest sufferers. Tennessee Coal and
Iron also receded l per cent. A heavy
hquidation in Standard Rope added to the
depression, the common stock showing a
slump OF 3. TO Oh, the 8 per cent. bonds of 6.
TO o.. and the income bonds SIs, TO IL. The
SKIES rallied Ia and the stock q at the
close. Sugar moved 10 a degree independ-
entity OF the general market. without ir.Gu-
snGing IL The stock showed a net Gain of
list outside of most of the Vanderbilts
showed an average decline of a fraction.
Chicago Gas advanced l per cent. at the
Closing. and a firmer ole became evident
In the general list.
The bond market was moderately active
anu tairly steady throughout. The Ceilings
lacked feature. aside from the sensational
declines in the STANDARD Rope Issues. the
sales being 81, 354,OO0.
Government bonds ruled, firm on mr.
chases of $4,000.
Ihe following table. prepared by l. w. Louis.
quotations.: