The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-13
STOCKS ARE DEPRESSED
SHEDDING OF FIRST AMERICAN
BLOOD SADDENED WALL STREET.
News from Abroad Does Not Verify
Report that Spain Wants Peace
Local Trade Active.

At New York, yesterday, money on call
was steady at 2Q2A per cent; last loan, 2
per cent.
Prime mercantile paper, 51aG6 per cent.
Sterling exchange firm, with actual
business in bankers bills at $4.S4a4@4.S6 for
demand and at s4.s11z@4S1s4 for sixty days;
posted rates, $4.S2Q4.S ssh; commercial bills,
$4.sOs4@4S1.
Silver certificates, 5000 ounces at size;
range, 57@58c; bar silver, SIC; Mexican dol
lars, Acc. AT London bar silver closed I'M
certain al % 5-16d an ounce
Total sales of stock 43S 600 shares includ-
ing SO245 Atchison preferred, 35O5 Chesa-
peake & Ohio, 20, $50 Chicago, Burlington &
Quincy, 4,S19 Erie preferred, Is, 200 Louisville
& Nashville, $40 Manhattan, $500 Reading
preferred, 9410 Missouri Pacific, 495S New
York Central, 4640 North American, S,76S
Northern Pacific. 1928 Northern Pacific
preferred, ~, S62 Rock Island, ,965 ST. Paul,
e,69S Southern preferred. 80 .495 Union Pacific,
1895 Union Pacific, Denver & Gulf, 1869
Wabash preferred, OF American Tobacco,
$3.50 Chicago Great Western, 5725 Peoples
Gas, S,34S Consolidated Gas, 1886 General
Electric. 1856 Sugar, 4,4S7 Tennessee Coal
and Iron.
The natural reaction from Wednesdays
buOJdHI tSHuSHCy III wall street was sup
plemented yesterday by some positive ele-
ments of depression as q consequence of
which prices generally ruled below Wednes-
days level all day. The speculative world
apparently took rather serious view of
the affairs at Cordenas. In spite of all as
surance that the loss incurred was trivial
from a military standpoint. the she'd
ding of the first American blood
had depressing influence which
no amount of reasoning could de-
stroy. There was besides this an unset
thing of the conviction felt yesterday that
the Spanish Cape Verde fleet had certainly
returned to home waters. reaction in
Spanish tours in London and Paris also dis
sipated some of the impression that their
recent advance foreshadowed move to-
thoritative reports from Admiral Sampson
and his fleet induced some hesitation
amongst dealers in stocks. There was in
addition a depressed market for Americans
in London before the opening here and there
was free selling of the international stocks
for London account during the early trad
these conditions that some, of the recent
buyers of stocks should have been
b nsned sno to take hS profits and the
tack the market. Such a stubborn re-
sistance was shown, however. to the first
dip of prices that ext extreme caution was de-
The market displayed an equal reluctance
to. advance with any degree of vigor. Cow
ering by shorts in the late dealing overcame
a portion or the losses. but net declines are
point or over in many of the prominent
stocks. There were special stocks scattered
through the list that maintained show of
strength, notably Consolidated Gas which
rose buoyantly at one time eight points.
The Union Pacific. Denver & Gulf securities.
Rock Island, the Cotton Oil stocks and some
of the high priced Investment stocks were
notably firm. The volume of business was
much reduced from yesterday and the mar
ket was extremely feverish and irregular
all day.
The bond market also was less active out
side Denver & Gulf fives, and with a few
exceptions displayed a heavy tone. Total
sales, 1850 900. United States new tours adj
vanced % and the old tours. registered, - in
the bid price. Others were unchanged.
The following table, prepared by L. w.
Louis, Room II. Board of Trade shows the
range of quotations.