The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-26
STOCK MARKET LOWER
WEAK TR AIDING AND BUSINESS
CLOSE To THE Low RECORD.
Cnsatisfactor Prices I'm London for
American Securities-Local Mar
kets Frozen Up.

At New York yesterday money on call
was easy at 1lsn 2 per cent; last loan, IA
per cent: closed. offered at 1Ra2 per cent
Prime mercantile paper. 31zq4 per cent.
Sterling exchange was weak, with actual
business in bankers bills at A.S6AQ4.S6A
for demand and at s4.s4Ad4.S412 for sixty
days; posted rates, A.s5G4.s5h and A.S71aQ
4.SS1k; commercial bills. $4.S3.
Silver certificates. e5Ac; bar silver. 64Rc;
Mexican dollars, 5GNc- At London bar sill
yer closed at 2gAd per ounce.
Total sales OF stocks, 122, $40 shares, includ-
ing the following: American Tobacco. 600;
American Sugar, 20.100; American Sugar
preferred. 4.0co; Burlington. Is, 400; Chicago
Gas. $500: Columbus, Hooking Valley &
Toledo, $500; & Hudson, 1900;
General Electric, $500; Reading. 1850; st.
Paul, 13. ZOO; Union Pacific, 400; New Jer-
eey Central, 200.
One of the loweSt records of business re-
Gently established was made yesterday on
the New York Stock Exchange. There
were two divergent movements in prices,
and the anthracite coal stocks exerted a
decided unfavorably sympathetic influence
on the general list. Thee market opened
weak and generally lower, under the news
of unsatisfactory London prices for Amer
lean securities. The announcement of a re-
duction in both actual and posted rates of
sterling exchange, however, and covering
of shorts, soon checked the rea~ctionary
tendency and caused a general advance.
The anthracite coalers had been cOnspicu-
ously heavy, but also figured prominently
in the rally. particularly Delaware & Hud-
son and New Jersey Central, which gained
rs and / per cent, respectively. Business
was in small volume. however. aud con-
fined to the leading properties. Trading
after the first hour became intensely dull.
with prices showing a disposition to sag
on realfZatiOnS and bear sales. The expec-
tation of moro favorable comparisons of
railroad earnings had previously strength
ened the railway list and st. Paul improved
a fraction, despite a decrease for the third
week OF $48. Sol and sales by yne arbitrage
houses. Consolidated Gas rose 2a to 1891.
There was no news bearing on the prop
erty aside from the reelection of the old
board of directors, with two exceptions.
Later bear operations against the anthra-
cite coalerS increased forcibly, based on the
expectation OF unfavorable annual reports
of the Delaware & Hudson and Lacka-
wanna to be made public this week. The
first mentioned dropped 2s and the last
pa per cent, while New Jersey Central
suffered TO the extent OF 2s per cent. The
TIL continued ~unfavorable conditions In
the anthracite coal trade and popular out
traders in depressing prices. The grang-
ers, general railroad list and industrial
stocks were sympathetically depressed
fractionally. The closing was weak at gen.
eral fractional net losses.
Railway bonds were quiet, but generally
well held, aside from the Hooking Valley
issues. which sold off on the depression in
the bituminous coal trade. The skies de-
clined 2 per cent. to 70A. The sales were
$1.O6S. OO0.
Government bonds were strong, the new
fours coupon rising to 123 on the purchase
OF a block of 100000. The aggregate sales
were sl17. 900. State securities were dull.
$40. 600.
The following table. prepared by L. w. Louis
dsoom IL Board OF Trade. shows the range of