The Indianapolis journal., 1897-04-16
STOCK TRADING DULL
LONDON OFT OF THE MARKET AND
BULL NEWS WAS SCARCE.
Whispered Difficulties of a Big Opera
tor in kafirs Depressed Prices-Lo-
cal Markets More Active.

At New York yesterday money on call
was easier at 11i@1ls per cent; last loan.
IL per cent; closed. 1A111. per cent.
Prime mercantile paper. 3l@44 per cent.
Sterling exchange was steady, with ac-
tual business in bankers bills at si.S712W
4s74 for demand. and at AS64G4.S61s for
sixty days; posted rates. sis6lza4.s7 and
sisSa4.ss12; commercial bills, A.soA.
Silver certificates. 621sc; bar silver. SIC:
Mexican dollars. 4Slzc. AT London bar sill
yer closed at % 7-16d per ounce.
Total sales of stocks were 147.424 shares.
including: Burlington Quincy, H,700;
American Sugar, 2i7O0; Chicago Gas Trust
receipts. 24200: Louisville & Nashville,
1890; New York Central. $500: Northern
Pacific preferred. 7.9Oo Reading. 200: St.
Paul. 800; New Jersey Central. 400
Proceedings were rather dull on the
New York Stock Exchange yesterday and
values dropped almost without exception
or cessation The situation abroad domi-
mated the general tone Of the dealings.
The fact that there will be more trad
ing on the London Exchange until next
Tuesday probably restricted any demand
and Influenced the minds OF the tinid ones
there TO realize pronts as much as pos
sible and TO unload any holdings that
seemed in danger from possible develop
ments in the Graeco-Turkish relations.
Consols were down in London. and there
uneasiness apparent over the seeming
waning waning OF the accord r or the powers on Inc
also suffered from demoralization in the
Kaffir securities and whispers of financial
properties. The depression thus caused
was reflected here most obviously. as was
Which showed M ed marked dec Secliness Any frm
ness I'm these shares above the London
parity was met by heavy selling from
count being estimated at 5000 shares.
There was considerable realizing here also
on the ground that to-morrow the ex-
short trading day and likely to be dull in
consequence The heaviness in New York
the large hopes OF a stimulus to the whole
market that have been built on its refund
ing scheme first ofhcially announced yes,
terday. The extension OF the issue beyond
the needs for the refunding gives rise TO
the argument that there will not be SO
large a reduction of fixed charges nor so
large a consequent benefit to the stock as
was anticipated. There was continued
heavy liquidation in Chicago Gas and Su-
gar on almost purely professional dealings.
or a total of $4,000 shares sold Chicago
Gas. and Sugar absorbed 46.0D shares and
$4,000 shares. The Gas stock was very er-
ratio. and after opening with sales running
over a point above last nights close IL
times. finally closing with net gain OF
sc At one time the grangers developed
s,u,e h,,vina. Of Rnriinpton u on an unac.
credited rumor that the company was
about to refund its bonded debt. The rise
in the grangers resulting. carried their
prices above last nights closing. but sub
sequent declines left them with fractional
net losses. This was true of the railway
list in general, the largest losses occurring
in the International stocks, extending TO
1Ac i'm Louisville & Nashville and in the
grangers and coalers. Tennessee Coal and
Iron was quite irregular. declining AT one
time T1sc. but closing with a net loss of
only ixc Bay State Gas and Hooking Val
ley developed some activity after being
neglected for quite a long time. the form
er losing 1lac and the latter a point. The
heaviest sales for London account
Cured in the last hour. but the market
steadied in the final dealings and there
was a general gain of small fraction.
Business in railway and miscellaneous
securities was i'm light volume, with sag
ging tendency. which was most pro-
nounced in the issues having interna-
tional market. notably Northern Pacifics.
The sales were s7Sl 900.
Governments were quiet, but generally
firm on transactions of $4,000.
The following table. prepared b. l.. W. Louis,
Room il. Board OF Trade. shows the range of
quotations.: