The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-10
TRADE in SPECIALTIES
RAILROAD SHARES NOT IN DEMAND
on NEW YORK CHANGE.
Sugar SIumps Heavily and Changers
Showed Smart DecIines-LocaI
Trade Strong.

At New York, yesterday money call
was steady at 1A@115 per cent. last loan,
per cent.
Prime mercantile paper. 3d4 per cent.
Sterling exchange was steady. with actual
business in bankers bills at "a S61A "a S615 for
demand and As424d4S5 for sixty days:
posted rates. SASH and S4S7; commercial
bills, $4s31zG4S4a4
Silver certificates. 5sA@59Ac: bar silver.
5S5sc; Mexican dollars 451ac At London
bar silver closed weak at 271sd an ounce.
The total safes of stocks were 496. 700
shares. including: 9,402 Atchison preferred.
4,S60 Chesapeake & Ohio, 22.14O Chicago,
Burlington & Quincy 5.355 Louisville &
Nashville S,120 Manhattan, 6S15 Reading
preferred, 4,440 Missouri Pacific. 1870 New
York Central, S12O Northern Pacific, 1920
Northern Pacific preferred $500 Reading,
1917 Rock Island, 24,505 st. Paul. 19, $50 Union
Pacific preferred, 1865 American Spirits,
5,405 American Spirits preferred, So 275 To-
bacco, 7,143 Chicago Great Western, 2,52O
Peoples Gas. 1912 Consolidated Gas $685.
General Electric, liz, $50 Sugar, 1920 Leather
preferred
Yesterdays New York stock market was
almost a repetition of Wednesdays, except
that the marked weakness of Sugar had
rather less effect. This stock began to drop
from the opening and fell away by spurts
until the recovery in the final hour. Appa-
rently some support was forthcoming at
each successive point downward, or the sell
ing pressure was temporarily relaxed These
occasional rallies were not of large proper
tons and the stock Succumbed readily to
renewed raids. The extreme decline was
over four points Brooklyn Transit was the
most conspicuous stock for strength. A
very large and urgent demand developed for
II IN the latter part of the day, blocks of
LOCO shares lifting the price one-quarter of
a point at time to a level of points over
last night. Tobacco was medium between
strength and weakness. 1t was weak at
one time during the morning, but was very
conspicuous in the afternoon rally, rising
strongly over points. This rise and the
Washington of the action of the confer
ees on the revenue bill. The railroad list
was. comparatively neglected all day, the
market being distinctively one of the spe-
cialties. There was a drive al the grangers
in the late dealings which carried Burling-
ton down nearly point below last nights
level, but a full recovery effected be-
fore the close. Some of the railroads failed
to recover fully and the majority show
a disposition to let the railroad list
alone on account of the unsettlng influence
of the weakness in Sugar. The strength in
Brooklyn Transit was due to the large in
crease in earnings shown with the advent
of pleasant weather. The local New York
gas securities were all strong, both on the
exchange and in the outside market, on
renewal talk of a consolidation of all ex-
listing companies. But the strength was not
fully held. The closing was active and
strong at full recoveres in some cases.
Railroad bonds were active and the deal
ingS well distributed. Prices were better
held than stocks, though there was yield
ing in the early afternoon on realizing in
the speculative lines. with a subsequent
rally. Total sales, $3025,000. United States
new tours. coupon, declined 4 and the old
tours, registered, advanced &c in the bid
price.
The following table, prepared by L. w.
Louis, Room II, Board of Trade, shows the
range of quotations: