The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-08
TRADES MOSTLY in GAS
ENTIRE LIST PARTLY AFFECTED BY
SALES OF CHICAGO STOCK.
At the Close Changes in Quotations
Were Within Narrow Limits-LO-
cal Markets chow Reaction.

At New York, yesterday, money on call
was steady at 2QS per cent; last loan 21a
per cent; closed at 21a per cent.
Prime mercantile paper, 1905 per cent
Sterling exchange was dull and steady,
with actual business in bankers bills at
$4.S4al for demand and at $4S2AQ4.S2 for
sixty days; posted rates, $4S212 and $4.S31a@
4S51s; commercial bills, $4.S1.
Silver certificates, 56Q57c; bar silver, 56c
Mexican dollars, 491ac. AT London bar sill
yer closed steady at 26d per ounce.
Total sales of stocks were $40, 900 shares
including: Atchison preferred, 4S38; Chica-
go, Burlington 81 Quincy, 17e5; Louisville &
Nashville, 9057; Missouri Pacific, APO; New
York Central, 3,473; Northern Pacific pre-
ferred, 1S,4SO; Reading, 5000; Rock Island,
15,5O5; st. Paul. 2O0O5; Union Pacific 62l9;
Bay State Gas, 24,50O; Chicago Gas, 1O3 135;
Sugar, 10,677; Chicago Great Western, $780,
The sum and substance of yesterdays
New York stock market may be comprised
in the words Chicago Gas. The announce
ment that the companies outside of the con-
solidation had been sold to a syndicate rep
resenting interests powerful in gas in many
other large cities caused slump at the
opening of the stock market of over points
within the first few minutes of trading A
block of 5000 shares was the initial sale at
prices ranging from SO to 50, and the first of
these was the highest price of the day. The
stock sold at one time as low as $685. the
pressure of long stock being augmented by
vigorous efforts of the bears Large blocks
OF the stock were sold short in the interest
OF the bear Clique, with the design OF at
fecting a sympathetic decline OF the general
market. The total sales were over 100, CO..
shares. This purpose was only partly sue
cesStul, ana before the termination of the
first hour the shorts were covering hastily
and prices of many stocks the high-prlced
1nduStrialS being conspicuous, rose a point
or over. The market declined again under
renewed pressure on Chicago Gas, and Tor
the rest of the day fell into condition of
almost total apathy. The available offerings
OF stocks at the low level were apparently
exhausted, but II was equally apparent that
buyers were not ready to bid up prices to
point that would invite sales in any quantI-
ty The announcement that 81 CO., 0CO more
of gold had been engaged for import to New
York was without apparent effect either on
the stock market, the money market or the
exchange market. London was a buyer TO
a small extent on balance. Net changes are
very narrow III almost all, cases and dis
tributed between gains and losses. ConSou-
dated Gas and Laclede Gas lost IL and ia,
respectively, in sympathy with the weak
ness in Chicago Gas. New York, Chicago
d st. Louis second preferred declined 3,4.
Tobacco rose over point, as did Plttsburg,
Cincinnati, Chicago ~ st. Louis. and Metro
politan Traction gained point.
The changes In the prices OF bonds were
slight and the volume of dealings was small.
Total sales, 81, 200 600. United States new
tours were advanced Il bid and the fives
rose Is bid.
The following table prepared by l.. W.
Louis Room IL, Board of Trade, shows the
range of quotations: