The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-09
STOCK LIST UNSETTLED
FLUCTUATIONS WIDE, WITH DOWN
WARD TENDENCY PRONOUNCED.
Improvement from the Low Point Be-
fore the Close on COvering-LO-
cal Trade satisfactory.

At New York, yesterday, money call
was easy at 11kq2 per cent; last loan at
per cent closing at 11sQ2 per cent.
Prime mercantile paper, 3s4Q4l1 per cent.
Sterling exchange was easier, with actual
business in bankers bills at $4.S5ss for de-
mand and at &s212G4S2s4 for sixty days;
posted rates, "a. S31sQ4 S615; commercial bills,
$4S1%.
Silver certificates, 5712Q59c; bar silver,
57Ic. Mexican dollars, 44Ac At London
bar silver closed steady at 26s4d per ounce.
Total sales of stocks were 427,SOO shares,
including: Atchison preferred, $50; Chesa-
reake & Ohio, IT'S; Chicago, Burlington &
Quincy 44,43O; Delaware & Hudson, 4,O62;
Louisville & Nashville, 1885, Missouri Pa
cific, II, $40; Missouri, Kansas & Texas pre-
ferred, 1850; Northern Pacific preferred,
145O5; Chicago & Northwestern, 5,27O; Read
ing, $3.50; st. Paul. 49, 145; st. Paul & Omaha,
3.195; Southern Railway preferred, S,4S3;
Union Pacific, second assessment paid,
1,l55; Wabash preferred, 4,410 American
Spirits. S,425; Chicago Cas- 1868; Sugar.
So 1858; Tennessee Coal and Iron, f. 1856; United
States Leather preferred, 1913; Western
Union, $3.50; Chicago Great Western, H. 45O.
Prices of stocks 1uctuated very widely
and very easily, traversing range up and
down many times in the course of the day
on new lOrk 'CndnGe yesterday. InlS 1nul-
Gated teVerlsh tone OF the speculative
mind, a readiness to dispose of holdings on
a slight intlmatlon of possible unfavorable
developments and equally nervous anx-
iety on the part iof short sellers to cover
their contracts on any appearance of a
hardening tendency in the market. The
most formidable event in the days happen
ingS, so tar any effect on values was
concerned, was the further poStponement
of the announcement of the Supreme Courts
decision in the Nebraska maximum freight
rate case, which was confidently expected
yesterday. There has been assurance felt
in Wall-street circles that the verdict in
this case would be favorable to the rail-
roads, and even If a favorable verdict had
been announced profit-taking would prob
ably have led to declines in the stocks aft
fected. But the news of the postponement
led to the circulation of rumors that the
verdict would in fact affirm the validity Of
the contested statute. This rumor induced
much selling. Special weakness was induced
also in the coalers by the-very discouraging
reports of the condition of that industry,
due to overproduction, cutting of prices and
the persistent mild weather. There was not
lacking the stock Spanish war scare, which
was made to do duty again. These demor-
alizing factors did not begin to be felt until
some slight Improvement over Saturdays
close had been affected in prices. Sugar
leading the way. There was a notable i'm
provement also from the low point before
the close of the day, due to covering of
shorts and on Supreme Court decision
against the lnterSta commerce Commits
sion to the regulation of rates under the
ong-and-shOrt- haul clause where water
rates are in competition. In consequence OF
this rise at the opening and the improve
ment at the close net declines are much
diminished. Spirits preferred was the first
stock to exercise an unsettling influence on
the market, with a slump of 612 points on
news of the failure of the Kentucky dis
tillers combination. New Jersey Central
registered an extreme decline of 5$4. ST.
Joe & Grand Island preferred of 5, Della
ware q Hudson and Manhattan 4, Sugar 49s
Omaha and Lake Shore 3% Cotton OIL
Leather preferred, Pittsburg, Cincinnati
Chicago & ST. Louis preferred and Illinois
Steel from TO 3l2 each, and Burlington
Pittsburg. Cincinnati, Chicago & st. Louis
Chicago Gas. Missouri Pacific. Reading first
preferred Illinois Central, Northwest and
other prominent stocks from tG 25s. the
latter IN Burlington, as being largely affect
ed by the Nebraska maximum freight law.
ST. Paul was quite notably firm on London
buying. and a number of other stocks were
also bought quite steadily for London ac-
count at the decline. Sugar was very ac-
tive throughout the day and was quite SEN
sitive to attack. Detroit Gas was a notable
exception in the weakness OF the list. with
net gain of ~ points Cotton Oil gained
215 net 80
Bonds were weak, in sympathy with
stocks. but steadied later in the day. Total
saleC were 81 $50 900. United States new
fours declined u bid, the fives registered
e. and fives coupon r.
The following table prepared by IL. w.
Louis. Room H. Board of Trade, shows the
range of quotations: