The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-12
SMALL STOCK TRADING
TENDENCY TOWARD LOWER FIG
UREs AND TRADERS CAUTIOUS.
Industrial shares Again Come I'm for
Pronounced Losses-LOcaI Mar
kets Fairly Active.

At New York. yesterday. money on call
was easy at 1lzd2 per cent; last loan at
liz; closing offered at 1l2G1A per cent.
Prime mercantile paper. 3d4 per cent.
Sterling exchange was firmer with actual
business in bankers bills at $4.S6s4a4S for
demand and a.Si2s@4s5 for sixty days;
posted rates. $iS51zG4ss and S4.S71z44Ss;
commercial bills. s4.s314
Silver certificates, 64a4G65c: bar silver.
645sc; Mexican dollars. 592lc. AT London
bar silver closed at % 11-16d per ounce.
The total sales of stocks were 123.227
shares. including the following: American
Tobacco, 1900; American Sugar. 1900; Bur-
lington. 400; Northern Pacific preferred.
1850; Reading. 400; St Paul, 100; silver
certificates. 10000.
With an abundance of money still to be
had at cheap rates and eagerly seeking an
outlet for expenditure. the trading on the
New York Stock Exchange yesterday con-
tinued to be confined TO almost Insignificant
proportions and was further restricted ow-
ing TO the fact that to-day will be holi-
day on the exchange. Aside fl I'm the deal
ings of the professional element, the coun-
try seems to be waiting for Improvement in
the general trade situation. A number of
depressing influences combining, as was the
case yesterday, is sufficient to put a stop
almost entirely to speculation. Much more
than half the declines were again confined
to the industrial shares, which invite man
fpulation by their sensitiveness to the pre-
vailing antitrust sentiment as reflected in
the acts of legislative bodies. The market
was heavy and dropping almost throughout
under the combined influence of the reflect
ed uneasiness In London and on the CONT
ncnt over the threatened rupture between
turkey and Greece over Crete. The SYM
Eathy with the decline N the wheat market
and the lack of a well-defned opinion of
the effect OF the rupture of the combination
among steel-rail manufacturers general
business ana the prospect OF Il damaging
war of rates among the steel makers rather
encouraged the BEARS but there was the
accompanying belief that the railways
which have been curtaiiing their expenses
for repairs would profit by the cheapness of
rails. The apparent volume of the demand
Tor rails developed by the cheaper prices
gave hopes that the staGEation in that in
oustry mas come TO an end, thus contribut-
ing TO the general awakening OF business to
which all are looking forward with expec-
fancy The 1nduStrialS showed a tendency
TO advance at times partly on covering by
shorts, Sugar at one time rallying to ll2l5
but later yielded again to the persistent
nAmmerlng OF the bears and sold off Rub
Der declining IA and Rubber preferred 2L
the other industrials reacting in sympathy
"A RAID on the general list in the closing
hour reduced the price of Sugar Ia and
Leather preferred is from the high price
or the day. The group showed net declines
on the day. The general list also showed a
1ractlonai decline. though there were eIe-
ments of resistance among the railways
These rose early in the day but fell on
hedvy London selling. Northern Pacific
preferred led with drop of rs on liquida-
ton, induced by the unfavorable gross traf-
nc statement for January. This stock sub
Sequently recovered "a. The shares of the
Illinois Steel Company fell Ia on the steel
rail complication. Tennessee Coal and Iron
also lost l. The other iron and steel com
pany SHARES were but little dealt in The
anthracite coal shares were pressed for
sale on rumorS that large investment inter-
ests We're disposing OF their holdings on
account of unsatisfactory prospects of
trade One of the strong factors i'm the
ptesehI outlook Is the ready absorption OF
state ana municipal bonds which have re-
Gently beer fioated by syndicates. It is an
evidence or the plenitude OF capital await
ing TO secure investment. The general clos
ing OF the market was generally weak and
at the lowest OF the day.
me bond market displayed heaviness on
decreased transactions. which were largely
Realizations accelerated the depression in
me speculative liens, with the Atchisons
prominent The changes generally were
oLIIhporldnt. outside or y few of the high
priced bonds. The Union Pacific issues are
being more actively dealt in in consequence
81 the activity OF the various reOrganiza-
lion interests. with Union Pacific sinking
1enu seVens and Union Pacific trust re-
ceipts rising and per cent respectivaIv
The sales were 81 1875 200
government bonds were more active and
sdSSeu generally OH realiZations The in
Quiry for these securities emaEates prfnci
Ially from banks and individual caDita Iis.c
VINO are unable TO seek employment for
enein ,Sufpius funds I'm the stagnant stock
Specuieuon. The sales aggregi ted S13OOOD
SILVER certificates were dealt i'm after a lonp
IeriOo OF neglect at csc for 1UCO0 ounces
.,l Inc following table. prepared by L. w. Louis
quotations.: ~ ioiAoe vi