The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-21
SLUMP In THE COALERS
JERSEY CENTRAL SOLD FROM 1913 Ia
TO IA SINCE JAN. 10.
Entire stock Market Depressed by the
Unloading Process-LocaI Bust
ness Fairly Active.

At New York yesterday money on call
was easy at 1A@1A per cent; last loan, l12;
closed, 14a1z per cent.
Prime mercantile paper, 312d4 per cent.
Sterling exchange was dull and easier,
with actual business in bankers bills at
$4.S71sd4.872s for demand and at $4.S6@4.S6A
for sixty days; posted rates, s4.S7 and $4.SS
CASA commercial bills, A.S5h.
Silver certificates, 6OQ6O12c; bar silver Coo;
Mexican dollars 479sc. Bar silver at Lon
don closed fiat at 2712d per ounce.
Total sales of stocks were 151,901 shares,
including the following: American Sugar,
1920; Burlington & Quincy. 1900; Chicago
Gas trust receipts, 80, 800 Delaware & Hud-
son, 5000; Louisville & Nashville, 5000;
Manhattan consolidated, 1920; St. Paul,
1850; Tennessee Coal and Iron, $500; New
Jersey Central, $1,000.
New Jersey Central engrossed the largest
share of attention on the New York Stock
Exchange yesterday, and registered an
other sensational decline in a long progress
downwards. On Jan. 10 of this year this
stock sold at 1884 and on March / at 81.
Yesterday the stock was sold in large guam
titles at 69h and the extreme decline for
the day was 9ss, and in two days it has
fallen 55s per cent. The trading in the stock
was at times very animated, but a large
portion of the sales were made in small lots,
many successful sales of one hundred
shares being recorded, with decline of q
or even II on each sale. This caused Gre
dence to be given to the allegations of in
side liquidation, which served to help on
the decline. For several hours support
seemed forthcoming for the stock at vari-
GUS stages, but the effort was abandoned
after short intervals, and it fiuctuated ir
N
to 6sA, closing at 20. The sales for the day
numbered 60 700. The depression of such
weight on the market affected the whole
list, the other coalers naturally showing the
greatest sympathy as being subject TO some
OF the same conditions that have impaired
new Jersey CentraPs finances. They closed
slightly above the lowest, the extreme de-
clines being Lackawanna and Delaware 81
Hudson, 21s each, and Susquehanna 4
Western preferred, III per cent. The gen
eral list, from the opening of the market
showed the effect of the more serious
phase assumed by the Cuban question at
washington; Americans Were depressed in
London, and this was said to be due in part
70 early sales there on New York orders.
New York opened down to about the Lon
don parity. But there were not lacking
evidences of recuperative power in the mar
ket during the day, especially in the grang
ers and the railway list generally, the pos
slble developments in the Cuban question
being viewed with comparative equanimity
The market was also relieved of Wednes-
day heaVy weight of Chicago Gas sales,
The price of that stock rallying to a small
extent on the decision of the Illinois Legis-
lature to reconsider it's adverse vote on the
consolidation bill. New Jersey Central and
chicago Gas together were credited with
$1,000 out of a total of 10000 shares of all
stocks sold. With the sales of Burlington
81 Paul and Delaware q Hudson added to
these, there We're two-thirds of all sales
accounted for. Losses OF a point occurred
In Tennessee Coal and Iron and United
states Leather preferred, the former on de-
creased earnings shown by the April state
ment and the latter on the unfaVorable
trade outlook. In the late dealings Met
ropolitan Traction scored a gain of pa on a
judicial decision favorable to the company's
rlght to change the motive power on Ger
tam OF its lines, and affirming that the
city S right 10 take over the tracks at a
certain named sum had lapsed through mis-
use. The railway list moved very narrow
~ and closed with slight changes Louis
vile q Nashville declined rs, the widest
huctuation in the railway list, but recov-
ered p; Slight net losses were general
throughout the list.
Railway bonds were well held during the
greater part of the day, and some marked
gains occurred despite extreme d1eayiness of
the stock market. Towards the close how
ever, a generally easier tone deyeIoped and
values OF some of the prominent MORTGAGES
We're lowered a fraction. Lehtgh q Wilkes
barre t1ves were exceptionally depressed
Az per cent, to 7512. The aggregate sales
were $S54,O 900. Government bonds were dull
but steady throughout The sales were
$1,000.
. Inc Following table, prepared by L. w Louis
'1 80 A"'ASS u