The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-16
ACTIVE STOCK MARKET
LARGER VOLUME OF BUSINESS AND
PRICES TENDING LOWER.
Early slump in Sympathy with the
General Scare AbrOad-LOcaI
Business Very Quiet.

was easy at 112d2 per cent; last loan, IA;
closed offered 112G1&a per cent.
Prime mercantile paper 3a4 per cent.
Sterling exchange was strong, with ac-
tual business in bankers bills at Sl.s7Q4.S7A
for demand and $4.S5dl.S5l4 for sixty days;
posted rates. s4-s5a4-s511 and $4.s71z94.ss;
commercial bills. S4.S32i.
Silver certificates, Gi5sa65c; bar silver.
6issc; Mexican dollars 5cs4c. At London
bar silver closed at 295sd per ounce
Total sales of stock were 191 692 shares
including: American Tobacco, 1880; Atchi-
son. 1890: American Sugar. $1,000; Burling-
ton. n.40O; Chicago Gas, 5000; Louisville &
Nashville. 400; Manhattan, Il. 800; Northern
Pacific preferred, 500; Reading, $780, ST.
Paul. 1860: silver certificates, $4,000: Ten
nessee Coal and Iron, II, 300; Western Union
$3.50.
There a larger volume of trading on
the New York Stock Exchange yesterday
than for good many days. The activity
was practically confined, too, to the first
few minutes after the opening when the
whole list tended downward, and to the last
hour. which saw small rally and general
net gain on the days transactions. The
slump in prices at the opening was wholly
due to the influence of the panicky condi-
ton of mind reported on the continental
bourses and TO the fall of consols and other
securities in London. American securities
were affected in London along with others.
ana the opening prices here were on a level
with London quotations. The opening of
hcStiities reported to have occurred be-
tween Greece and Turkey indicated to the
minds OF the traders that embodiment
OF the European powers was an inevitable
consequence. and they sold accordingly.
The bears were not slow TO press the ad-
vantage thus offered, and they found still
further argument for lower prices in the
hearing of the legislative inquiry into trusts
In. progress in New York city. London also
was selling in the market at the opening
Although this selling movement lasted only
3ri Le% MINUTES .S after the openng the indus
istered material declines while it lasted.
Thus Sugar fell in price IS Tobacco q,
preferred Ia, Rubber preferred q and
American Spirits preferred Ia. The coal
susceptible To the bear efforts, owing to the
conditions In the iron-ore and steel-rail
Tennessee Coal and Iron H. Illinois Steel
was a notable exception to the depression
in this group and maintained aggressive
with a gain of 2. OF the railway list
the International stocks were most notably
effected by the early decline, the range
being as follows: Atchison preferred, IL;
St Paul and Louisville 81 Nashville. Is;
Kansas < Texas preferred. 1Ssi Reading,
rs; Northern Pacific preferred, q; South
ern preferred, Y. The volume of sales fell
OF at the lower level and period of stag
nation and almost utter apathy ensued
quotations only being registered at long in
tervals. 1t was not until the closing hour
n
eral and animated than any movement of
stocks for many days and which carried the
average price of securities to the highest
OF the day. The rally was doubtless due,
for the most part to the more favorable as
pect of affairs in Europe as reflected from
the various bourses and from London A
conviction seemed prevalent that the pow
erS were in substantial accord in their in
tention to prevent the Greeks from attack
ing Crete. London bought quite heavily
and general tone of assurance and con-
hdence pervaded the market. The increase
lowing figures show the gains recorded i'm
this rally: Sugar. 2; Tobacco rs. with a
IL; General Electric. 1: Leather preferred,
rs; Rubber preferred. ia: American Spir-
see Coal and Iron. 2as; Atchison preferred.
IA; 81. Paul, /; Louisville x Nashville rs:
IA Texas Rrefepred IA Reading
Southern preferred. q. Manhattan was a
feature of the market, showing decline. on
liquidation owing to the unfavorable quar-
terly statement of per cent to sea- the
other Gould shares giving way slightly in
sive covering to augment the general rise
closing prices being generally the highest.
Inc pond market tell OF In sympathy with
stocks and the subsequent recoVerics were
for the most part trivial.
The bond market displayed reactionary
tendency. the receSSiOnS caused by the
same influences as those in stocks The
dealings were mostly confined to the low
fours and Kansas & Texas seconds regis
tering the extent of losses IL and y per
cent, respectively. The changes i'm the
less active mortgages were not material
save in a few Instances. with International
and Great Northern seconds CONSPICUOUS
Tor a rise OF 3ss- The market displayed
some irregularity in the later session. and
Reading first incomes and Atchison adjust
ment tours rallied sharply. The general
tone. however Was heavy and the closing
weak The sales were 81 4JO.0o0.
Government bonds were in brisk request
with some Improvements in prices on pur-
chases ny prominent banking interests
The sluggishnesS OF the general specula-
ticn Is forcing considerable amounts of in
veStment capital in these securities which
fails TO secure adequate employment in the
stock market.
The following table. prepared by l.. w. Louis
Room IL. Board CT Trade, shows the range OK
quotations: