The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-10
THE FOREIGNERS TIMID
RUsIORS OF DELAYED PEACE CAUSE
DECLINES IN STOCKS.
Depression Felt in All Exchanges of
the WOrld-Spanish FOurs Lower
Local Trade Promising.

At New York. yesterday, money on call
was steady at 1AQ11a per cent. last loan,
IL per cent.
Prime mercantile paper. SA@414 per cent.
Sterling exchange was easier, with actual
business in bankers bills at $485A IA. S51a
for demand and at $4.S3a4@4S4 for sixty
days; posted rates. $4S41zG4.S5 and $4.S6@
4.S619; commercial bills, $4.S3.
Silver certificates, 5S1lG5911c; bar silver,
59Ac; Mexican dollars, 45a4c. At London
bar silver closed firm at 27asd an ounce.
Total sales of stocks All 100 shares. in
Guiding s.649 Atchison preferred, 1885
Chesapeake & Ohio, 21,645 Chicago, Burl-
ington & Quincy, 1851 Cleveland, Cincin-
natl, Chicago & st. Louis. $50 Louisville
& Nashville, 1900 Manhattan, s1O5SO Mis-
souri, Pacific, $3.50 Missouri, Kansas &
Texas preferred. $3.50 Northern Pacific,
1856 Northern Pacific preferred, 22,927 Rock
Island, 1850 Union Pacific, 23,207 ST. Paul,
LAP Union Pacific preferred, 1000 Tobacco,
4.OS5 Chicago Great Western Co.'s Peoples
Cas- 3025 Pacific Mail, 40,395 Sugar, II $50
Leather. 4424S Leather preferred, $3.50 Rub
Der and 4,519 Western Union.
The belief was general on New York
Change yesterday that Spain's reply to the
United States proposals was of such a
negotiations for peace by it's failure to re-
turn straightforward answers to the ques-
tons at issue This belief was effective in
depressing securities all over the world.
This effect was especially marked inasmuch
as values have recently improved sharply
on the prospect that peace would soon be
declared. Holders of stocks were therefore
inclined to take profits in view of the less
favorable outlook. This was true of Span
ish bonds, which fell both in Paris and
London. The same could hardly be said.
however, of United States bonds, which
nevertheless showed some depression.
American railroad securities declined in
London and in Europe and there was SELL
ing in New York for foreign account. Of
ferings here on the decline were very large,
power of absorption which held prices, with
few exceptions, almost perfectly steady
throughout some of the most active periods
of the trading. Recent leaders suffered Sc
verely and in this list are included special
ly Burlington, ST. Paul. Rock Island, Brook
Ign Rapid Transit, Sugar and the Rubber
stocks. Mondays profit-taking followed by
yesterdays selling caused renewed fears
among traders that the large dealers were
nervous all day and their covering induced
numerous rallies. There were several in
dividual stocks which showed sufficient
strength to exercise sustaining influence,
Chicago & ST. Louis, Chesapeake & Ohio,
Leather and Peoples Gas, the latter rising
an extreme three points, but reacting on the
days final profit-talxing movement. Prices
at one time rallied to near Monday night s
close, and in a few cases above, but the
bulk of the trading was at a lower level.
While no attempt was apparent to sustain
prices some very large blocks of stocks were
taken at the lower level which seemed to
inspire confidence and lift the depression.
Dealings in bonds were on a considerabl
reduced scaleaand prices were more firmly
held than irplthe stock market Total sales,
IS, $50. Geo. United States new fours declined
Il and the threes, when issued, %, while
the old fours, coupon, advanced "a in the
bid price.
The following table, prepared by L. w.
Louis, Room IL. Board of Trade, shows the
range of quotations: