The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-25
FEVERISH STOCK DEALS
FINAL QUOTATIONS AT THE BOTTOM
IN NEARLY ALL SHARES.
Foreigners Helped Decline ny Orders
to Sell American Secprities-LO-
cal Trade Crippled.

At New York yesterday money on call
was easy at 112GI1s4 per cent, the last loan
being made at IL per cent.
Prime mercantile paper, 412Gl5l5 per cent
Sterling exchange was irregular at 4.S3&
CASA for demand and s4.SO7sG4S1 for sixty
days; posted rates, 4.S294. S212 and $4.S5Gl
1854; commercial bills. $4SO1a@4.soa4.
Silver certif Cates, 555sq56Ac; bar silver
SEC; Mexican dollars, 45c. At London bar
silver closed uncertain at &c 1-16d an ounce
Total sales of stocks were 323, 500 shares,
including: Chicago, Burlington g. Quincy,
BIAS; Louisville & Nashville, 6,719; Man
haitian, 16,445; Metropolitan, 1927; New
York Central, $3.50; Northern Pacific, 4,635;
Northern Pacific preferred. 1877 Rock ISL
and, S,210; st. Paul. 1920; Union Pacific,
23,454 Tobacco 1905; Peoples Gas, $685.
Laclede Gas, 1890; Sugar. 1920; Western
Union, 1876.
The New York stock market was alter
nately feverish and stagnant yesterday
closing at the lowest, with the losses con-
fined to fractions in the railways, but rang
ing from to points elsewhere. The local
securities. including Metropolitan Street.
railway, Manhattan and Consolidated Gas
and Sugar and the grangers, were the fea-
lures The Cuban situation was the all-im-
portant factor, as it has been for a long
time in the markets fluctuations. Prices
rallied sharply at the opening on the as
sumption that there would be more delay
in dealing with the Cuban question. Lon
don, after an easier opening, closed better
but the sales from that quarter were largely
in excess of Wednesdays purchases. The
change of attitude of foreign fnanciers
toward American securities was used by
the bears to hammer the international
shares at frequent intervals. The pressure
against st. Paul, New York Central, Louis
Vile and Union Pacific preferred resulted in
recessions of over a point, as compared
with the high prices established in recent
trading. The weakness of Spanish fours
abroad did not escape observation, as 1t
was coupled with the announcement that
the Spanish torpedo fiotilla was proceeding
westward Washington selling emphasized
the local spectators Interpretation of the
activity in the Navy Department and the
declaration in the Senate by a recent OBJ
server of the conditions in Cuba that the
horrors there were impossible of eXaggera-
ton and called for Intervention was not
without effect These things, taken COL
up of prices which followed the Senate's
determination to adjourn until Monday
Covering of shorts from time to time hard
ened the markets tone, but this, in each
instance, failed to last. The selling move
ment in the final hour brought about the
lowest level of the day. There was engaged
for import third of million of gold. The
gold imports would have been much larger
recently, it was said, but for the purchase
in New York of round amounts of seventy
day bills of exchange.
The bond market showed extreme dull
ness, but the tendency toward a lower
level. The aggregate transactions We're
$966,O00. Government bonds shared in the
general depression of the security markets,
with quotations for the active issues show
ing losses in bid prices of Il per cent, ex-
cept in the fours, registered, of 1907, which
lost n per cent.
The following table, prepared by l.. w.
Louis. Room IL, Board of Trade, shows the
range of quotations: