The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-14
STOCK MARKET HEAVY
PRICES DEPRESSED BY NEWS OF
TR0UBLOUs TIMES IN HAVANA.
stregnth in vanderbiIts Partly sus-
tanned the Share Lfst-LOcaI Bus
ness Has a Setback.

At New York yesterday money on call
was steady at 2 to pa per cent; last loan,
21z per cent.
Prime mercantile. paper. sl4G4A per cent
Sterling exchange was steady, with ac-
tual business in bankers bills at $4.S5 for
demand and at $4.s2lz94s2s for sixty days;
posted rates, S4.S3G4S31s and $ns51zQ4S6;
commercial bills. s4S2
Silver certificates, 572z 05S15c; bar silver
572ic; Mexican dollars, 4614c. At London bar
silver closed STEADY at IS 11-16d an ounce
Total sales of stocks, 800 shares. in
Guiding: Atchison preferred, 9.41s; c. & o.,
12.2l6; c., B. & Q 1i,545; Louisville & Nash
vile, 6515; Manhattan, 423Sl; Metropolitan
Street-railway, 51eO; Michigan Central, A.
COO; Hawaiian Commercial Company. 6100;
Reading preferred, 300; Missouri Pacific,
$40; Chicago, Indianapolis e. Louisville. g.
OS0; New York Central, AZ, 975; Northern Pa
cifc, 13.437; Northern Pacific preferred, 3D.
40; Northwestern Terminal, 3,9l5; Rock
Island, lois; ST. Paul. 81 ais; Southern pre-
ferred, 3.252; Union Pacific. 2s,4O5; Wabash,
preferred, 1905; Wheeling & Lake Erie, A.,
$50; American Tobacco. 1850; Chicago Great
Western, 1850; General Electric, $40;
Sugar, 76,4sO: Western Union, 4,S52.
The New York stock market was under
more or less pressure yesterday on account
OF the news from Havana. There was heavy
realizing at times and some aggressive at
tacks by the bears. A number of large OPP
orators recently on the bun side changed
their views and sold stocks and the i'm
preston on the market would undoubtedly
have been much more serious had it not
been for the remarkable strength and buoy
ancy Of several OF the VanderbiILS. TINS
strength arrested the liquidation ana stead
led the market and the declines atterward
IN the general list were not large, even
when these stocks themselves reacted on
proht taking. The declines at the opening
were checked also by the execution or COM
mission house orders which had accumu-
lated over night. These were the principal
causes TO neuLralize the undoubtedly serious
view OF the situation in havana and its
bearing on the relations between the United
States and Spain which is held in Mali
street. L mere vas no news to account for
the buoyancy of the Nanderbilts beyond
vague rumorS OF an intended change oil
policy in administration looking to the re-
ducuon of operating cost and an increase
IN dividends. Inc extreme rise in Lake
SNORT reached 4 points and there was >
much in New York Central. Other members
OF the group gained all the way from l to
points. There was quite large dealing
IN some of the other high priced investment
stocks, Pullman rising points and Great
Northern preferred 4 points. Some part of
JEeSe transactions was probably designed
TO test the volume of offerings which Wouiu
be invited by the adVanceein prices. Man
haitian, Metropolitan Traction and Brook
lyn Transit We're all strong during the day,
and the first and the last-named gaining
points or over. Sugar was the central point
Of weakness in the market and liquidation
IN 1t was very heavy The price was down
"a at one time and the bears put oul
short lines Of the stock on large scale.
Their buying to cover was the effective
cause OF wiplng out the decline. The grang-
ers and the recent speculative favorites
Union Pacific and Northern Pac1fic SUIT
fered from profit taking. London sold in
this market, whether with a view to TAX
ing pronts on yesterdays purchases or ow-
ing to disqufet over the Havana incident,
was not clear. Net changes in prices gen.
orally are on the side of losses.
Dealings in bonds continued large, though
IN somewhat reduced volume and marked
gains were shown by some of the hign-
grade bonds. Total sales, So $50, 600. United
states new tours, coupon, were L lower
Did; United States new fours registered Il
lower, and the seconds p lower
The following table, prepared by L. w
Louis. Room II. board of Trade, shows
the range of quotations: