The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-30
WALL STREET TRICKED
ADVANCE OF MONDAY FOUND To
HAVE BEEN WELL ENGINEERED.
No support 10 Yesterdays Market and
Trade More Encouraging.

At New York yesterday money on call
was firm at 1is03l5 per cent; last loan,
per cent.
Prime mercantile paper, 5d615 per cent
Sterling exchange was firm, with actual
business in bankers bills at $4Ss;s for de-
mand and at $4.S0a4 for sixty days; posted
RACES, s4S1hG4.s2 and s4S41s@4s5 COM
mercial bills. s4.SOa4s01k.
Silver certificates, 551za5e1ac bar silver,
0o1sc; Mexican dollars, 45c.
Total sales of stocks. 442.200 shares, in
GLIDING: Atchison preferred, 5000; Chicago,
Burlington G. Quincy, 1890: Louisville &
Nashville, lass: Manhattan, 29,OSS: Metro
politan, 1912; Missouri Pacific. 3,546; New
York Central, 5.946; Northern Pacific, 1880;
Northern Pacific preferred, 1899; Rock
Island. 14,sS1; ST. Paul. $1,000: Union Pacific.
1852; Union Pacific Denver & Rio Grande
$3.50; Tobacco, 7,119; Peoples Gas, $780,
Sugar, 1850.
Wall street awoke yesterday morning to
2 realization that it had been duped Specu-
lators. consequently wore a somewhat rue
full aspect in all but that select inner circle
which reAped the profits from the well-or-
ganized plan to precipitate a bear panic 1t
was very noticeable that those who were
loudest yesterday in the proclamation of
the settlement alleged to have been arrived
at between the United States and Spain
were no longer active bidders for stocks
and securities to-day, although they are
credited with having parted with large hold
ings at the high level yesterday. The san
guine expectations of this element that val
ues would go higher in the immediate fu-
ture having been changed and the short in
terest, having been largely eliminated by
yesterdays forceful process, the market
was without material support and prices
promptly dropped on from ABOUT l per cent:
sales. They did not rise much above the
opening prices except in few cases at any
dealers who had confidently swallowed all
the bogus news that was fed them yester-
day were anxious to sell stocks which they
bought then The bears also took some
heart wnen they discovered what had
frightened them and ventured on some OPP
erations. but in timid manner This was
to cover when the bulls began to mark up
prices in the afternoon. This Improvement
die not hold, but the subsequent relapse
die not carry prices to the lowest point of
the day. The list shows net declines never
theesS, of between l and points in the
large majority of important stocks London
was both buyer and seller here, support
from abroad being especially manifest in
the Northern Pacific stocks. There seems
to be an impression in London that the
Northwestern passenger rate war is in
course of adjustment. Foreign exchange
engagements Of about $500, 900 gold for inn
port. bringing the total on the movement
to over 1874, 900 Co., exclusive of receipts at
San Francisco. Rates for money are stift1y
held. 1t is not thought DrobaDle that the
movement of gold from Europe will cease
until rates for time loans become easier.
Prices of bonds moved in sympathy with
stocks. the speculative issues showing the
sharpest declines Total sales. $1,575,000.
United States fives were p higher, and the
new fours IL higher, bid.
Louis, Room H. Board of Trade, shows the
ra 100 of nunfa fiOnS: