The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-30
SUGAR STOCKS LEADING
TRUST SHARES THE MOST AGGRES-
SIVE ON NEW YORK 'CHANGE.
Considerable Realizing Sales Sent
Many Active Stocks LOver-LOcaI
Trade Generally Quiet.

At New York yesterday money on call was
stiff at 2Q4 per cent; last loan, 21s per cent;
closed, offered at 212 per cent.
Prime mercantile paper, 31k@4s4 per cent.
Sterling exchange was dull, with actual
business in bankers bills at $4.S4ssQ4 S41a for
demand, and at $4.s11ad4.s134 for sixty days;
posted rates, $4.S212@4.S3 and S4.S51s@4.S6;
commercial bills, $4SO%.
Silver certificates, 5612@574c; bar silver.
56ssc; Mexican dollars, Acc. At London bar
silver closed at 26ssd ounce.
Total sales of stocks, 800 shares, in
GLIDING: Chicago, Burlington & Quincy,
13,475; Louisville & Nashville, 500; Manhat-
Tan, S2.134; Metropolitan Street-railway,
5,S5s; Northern Pacific, 1850; Northern Pa
cific preferred, 1876; Reading 1920; ST. Paul,
1855; American Tobacco, 3O,430; Chicago
Great Western, $500; Peoples Gas. AGO;
Consolidated Gas, 4.67S; General Electric.
1920; Sugar, "a. O55; Western Union, S,791.
Sugar was the only one of the leading
stocks of the list to show any aggressive
strength on Change yesterday, and after
rising at one time almost two points, it
was overcome by the general heaviness in
the rest of the market, and closed with only
a small fractional net gain. 1t was a pro-
fessional traders market throughout and
the Industrial stocks which had been recent
favorites with the bull clique showed the
effect Of realizing. In Manhattan the fall
reached two points, and in Metropolitan
Street-railway more than that. CONSOLE
dated Gas is 3la points lower than Tuesday
night Tobacco was notably active all day,
and rose quite strongly on an irresponsible
published report that the quarterly dividend
on the common stock had been advanced
again to 3 per cent. Disappointed holders
sold the stock down points when it became
IN hnf hn 10 rrypc nfsafv nod on
cent. New Jersey Central and the coalers
generally did not escape the weakness of the
other specialties that show sharp losses An
indication of the narrOwneSs of the market
was the fact that until near the close there
was not a single sale of such usually active
stocks as Missouri Pacific and Chesapeake
& Ohio Burlington showed a degree of
frmnesS in the railway list on buying in
vited by Tuesdays decline. The Buffalo,
Rochester & Pittsburg stocks were both
conspicuous for strength the common adj
vancing points and the preferred points.
Fractional net declines We're. however, the
rule in the railway list. Yesterdays clear
ing-house statement showed the subtrea ury
a debtor again to the extent of $1,150,S39, a
reflection of the additional redemptions of
Pacific bonds. Still the money market de-
ciined to yield it's firm tone in any marked
degree, and ii was only in exceptional cases
some cases per cent. was paid. Demand
sterling also hardened a shade. Reports
from other domestic centers show that their
bank reserves are at present unusually high,
but exchanges continue to run against New
York. 1t was reported that Philadelphia
and Boston had repaid large loans as the re-
suit of the high rates in New York The
large balances at the clearing house show
that there is quite an extensive shifting of
loans still in progress. Prices of Ameri-
cans declined in London, and selling on this
side for London account was quite a factor
in the decline.
Activity IN the bond market was confined
to middle and high grade issues. The specu-
lative issues being stagnant prices generally
advanced. Total sales, 81, 1901 900. United
States old fOIIrS COtIDOn. and the fnnrc
registered were lower bid, the tours,
coupon. y lower and fives u lower
The following table. prepared by l.. w.
Louis, Room II. Board of Trade, shows the
range of quotations: