The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-25
STOCKS ARE DEPRESSED
CLOSING OF CONTRACTS BROUGHT
LOWER PRICES FOR SHARES.
Quotations Advanced in London, but
Local Business Increasing.

At New York. yesterday, money on call
was easy at 114q2 per cent; last loan, 2 per
cent; closed at 1892 per cent.
Prime mercantile paper 3d4A per cent.
Sterling exchange was strong, with actual
business in bankers bills at $4.S5A for de-
mand and $4.S27sQl.SS for sixty days; posted
rates, $4SS12@4S61s; commercial bills, $4.S21a.
Silver certificates, 5SAd59c; bar silver
5812c; Mexican dollars, 457sc. AT London bar
silver closed steady at 2714d an ounce
Total sales of stocks were 156 500 shares
including: Chicago, Burlington & Quincy
S,77O; Louisville & Nashville, 800; Manhat-
tan, 1926; Metropolitan Street-railway
$3.50; New Jersey Central, 1888; Northern
Pacific preferred, rs, AS; Reading, 1890; Rock
Island, $40; st. Paul, $3.50; Union Pacific
all assessments paid, 1875; American
Spirits, 1920; Peoples Gas, $780, Console
dated Gas, 4,765; Sugar, 2O,O5O.
Yesterdays New York stock market
transactions were confined for the most
part to the closing up of contracts in an
ticipation of to-days holiday. The course
of prices indicated that few of these con-
tracts were for short accounts. The stocks
that showed the greatest weakness went to
Indicate that there was selling to realize
on the very desultory buying of the last
Northern Pacific preferred did not fully es-
cape this tendency and closed at a frac-
tional loss. Metropolitan Street-railway
which has advanced very aggressively for
several days past, also reacted points and
rallied rather feebly. Manhattan lost 15s of
its extreme advance, though it saves a
fractional net gain There were other
points Of weakness in the list, including
New Jersey Central and National Lead.
Union Pacific lost over a dollar of the third
and last of the S. assessments added to the
price of the stock in the morning. There
was a time during the day when the mar
ket ruled above Tuesday nights Close and,
counting from the high point, both Burling-
ton ana Omaha declined to the extent OF
point. In fact, it was not until the late
afternoon that the general level of the
market fell below Tuesday nights close. 1t
was at this time that marked weakness
developed in People s Gas, resulting in net
decline of 2 points in the price of the stock.
Susquehanna & Western preferred and
Pullman also dropped a point at this time.
Consolidated Gas was dealt III at a price De-
low the previous nights close all day, but 1t
f1uctuated very feverishly. Extreme decline
was 5A points but 1t rallied over point
from that The settlement in progress on
the London F~change was watched with
some interest, out none of the days weak
ness can be attributed to it,, as quotations
were advanced in that market and there
was buying in that market for the London
account. Probably some depression was
caused by the character OF the rate war
which is in progress on some of the West
ern lines. The general news of the day was
without influence on the market.
The bond market shared in the dulnesS
Of the stock market and changes were
slight and irregular. Total sales, 81 ,095 900.
United States old tours, coupon, were Il
higher bid.
The governors of the New York Stock
Exchange yesterday approved these secur-
tiles for listing Northern Pacific Railway,
ST. coo additional prior lien railway and land
grant per cent gold coupon bonds; South
ern Pacific Railroad Company of California
$50 900 additional first consolidated mortgage
s per cent. gold bonds of 1887; Union Pa
cific reorganization committee, $44. 900, coo of
engraved Mercantile Trust Company, pur-
chase money certificates; Union Elevated
Railroad Company $3.923 900 first mortgage
per cent gold bonds; Des Moines Union
Railway Company, $62S coo first mortgage
per cent gold bonds.
The following table, z. y red by L. w.
Louis, Room IL. Board Of ~ de, shows the
range of QuotationS