The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-27
NET LOSSES IN STOCKS
ANTITRUST DECISION STILL HAS
ORC ON NEW YORK CHANGE.
Bond Market More Active. with Wide
FIuctuations-LocaI business stu
Under the weather.

At New York. yesterday. money on call
was easy at 114n1z per cent: last loan,
1l2: closing offered at IL per cent.
Prime mercantile paper. 3l9@4 per cent.
Sterling exchange was steady, with ac-
tual business i'm bankers bills at A.siAM
4.s71s for demand and A.s51@af.S5A for sixty
days: posted rates. si.SG1a and &.SS44SSl2;
commercial bills. s4.s41z.
Bar silver. 65@sc: certificates, 627sn65Ac;
Mexican dollars. fS14c. At London bar sill
yer closed at 2Sad per ounce.
Total sales OF stocks were 2O6. O56 shares,
including the following: American Tobacco.
IS. 700; American Sugar, $500; Baltimore &
Ohio, %. 100; Chicago Gas trust receipts.
1900: c., c., q & ST. L.. $500; General
Electric, 300; Louisville & Nashville, $500:
New York Central. 500; Omaha. 5000;
Reading, 6,1O0; Tennessee Coal and Iron,
400; New Jersey Central. $500.
Yesterdays New York market opened
with a downward rush which seemed to in
dictate that the selling movement induced
by the Supreme Court decision in the trans
missouri case had taken a fresh start. 1t
was not long. however. before prices stead
led somewhat. though the market sank into
dullness and there was little inquiry for
railroad shares generally. The general tone
VI oAoA IA ONtA lit oPpINithttQ ulSacllOuS
results of the breaking up of the passenger
and freight associations has clearly SUBJ
sided. as it is seen that the disruption of
the Western organizations has not been fol-
I'VE by a cutting of rates. Nevertheless
the roads which were first TO withdraw
from the associations have been compelled
10 bear the brunt of the selling movement
and have shown least resistance. This was
manifest in the case of The grangers. The
opening also showed the Vanderbilt roads
notably weak, but they were early on the
road 10 recovery. The industrials also
showed marked heaviness and Jagged in the
recovery. some of them failing to rally.
some general effect was probably exerted
on these by proceedings in Congress. where
ANTITRUST amendments to the tariff bill
were the occasion of much oratory. There
were special causes at work In special cases
also. Sugar was weak on a reported project
Tor a new refinery in Brooklyn in opposition
trio fell off on a belief that trade outlook
Is unfavorable and that the forthcoming
annual report will be bad. The losses were
as follows in the principal instances: Su-
gar, 1l2; General Electric, 2; Rubber pre-
lerred. l.; Tennessee Coal and Iron. rs:
Gieyeiand, CINCINNATI; Chicago & st. Louis.
l. New York Central. ia; Omaha, /; Bur-
Ilngton, rs; Rock Island. 1%: Kansas &
texas preferred. 2, and Reading first pre-
Ierred, l. There was a period OF unsteady
nuctuation in the market before an i'm
provement was inaugurated by the good
inquiry for New York Central and Omaha,
winch showed some resumption of the
strength that characterized them before
the transmissouri decision broke The mar
ket- The advance became general i'm the
lalWays and continued during the remain
der of the day. the closing being at the
best hgures of the day in the majority of
cases The declaration of the L~ackawanna
olvluend also exerted a sentimental effect
on the market, shown particularly i'm the
Improvement in New Jersey Central and
Reading first preferred. The industrials
also made notable recoveries in the rally.
although somewhat late to show improve
ment. and Tobacco and Rubber preferred
Dtl0E lGIt DPnInd RnfirQlV nlnGfn~ a. ~
lowest. The break i'm Tobacco came late
tne price falling 21z. to 1874. on heavy sales.
Otper notable changes were advances of
-. I'm Minnesota Iron and of pa i'm Laclede
Gas preferred. Lake Erie * Western de-
eiined z and the preferred 81. the fan being
unaccounted for. Although the final prices
were generally the best. they showed net
losses OF a traction from last nights clos
Ing, Chicago Gas, Manhattan Western
Union and Missouri Pacific beng the amor
gains.
The bond market displayed conside6bIo
MIesuiarlty on moderate dealings. The
variations in the usually inactive iss,ac
%epS esPeelaliy vide. but a tendency toward
Iower IeVel was generally noted with some
sensational concessions In liens identitad
with the coal industry. Sales for foreign
account were noted in the low-grade mort
cages, which were i'm a measure offset bv
the revived investment inquiry for standard
properties The sales We're 81 122 O00 tn
principal changes were: Declines-CoIorado
coai ana Iron skies. } per cent: Lehiph &,
Mllkesbarre consol sevens. AZ: ST. Louis &
San Francisco general tours, pa: STANDARD
rope SKIES. IA. and Iowa Central frsts
Erie generals and Cincinnati. IndianapoIis
81: Louis Il Chicago firsts. 1. Advance
Milwaukee; Lake Shore & Western firsts.
mlchigan division, 2s per cent. Standard
ROPE INCOMES. :; 81. Paul. NJ. & Nj. consoI
SKIES. Ia; New York Central extended
tours. ia. and St. Paul general tours and
Union Elevated. l. """
Government bonds We're quiet bur stiff
teheu apprecfably on a renewed Investment
demand Tn sales were sls. 600.
line following table. prepared by L. w Ionic
QuOtafiopS- eC diSS %