The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-24
SLUGGISH STOCK MARKET
AMERICAN SECURITIES IN LONDON
ALSO BEING NEGLECTED.
Some Individual Stocks Showed Ac-
tiviity, with the Market as a Whole
Dull-LOcal Trade Active.

At New York yesterday money on call
was steady at 3@4 per cent, the last loan
being made at per cent.
Prime mercantile paper, 405 per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4.sSAG4.S4 for
demand and at $4.S1AG4s1k for sixty days;
posted rates, $4.S21a and $4S5; commercial
bills, $4.SO1z.
Silver certificates. 61AG62c; bar silver. Gle;
Mexican dollars, 47a4c At London bar sill
yer closed quiet at 2S1ld an ounce.
Total sales of stocks, 255.700 shares, in
GLIDING: Central Pacific, 9.9G5; Chicago,
Burlington & Quincy, 600; Louisville &
Nashville, 5000; Manhattan, s997; Northern
Pacific, IL 900; Union Pacific, 17,4S5; st. Paul,
II, SIS; Union Pacific preferred, H791; Cot
ton Oil. 1876; Tobacco, 27,275; Peoples Gas,
$780, Sugar. 1877; Rubber, 3.14S.
There was only a ripple here and there
on the surface of the list of usual active
stocks yesterday, and the prominent securi-
ties which moved at all did so IN sluggish
and hesitating manner and only small vol
ume of trading. The bears seemed to have
the upper hand at the opening, and clipped
the price off st. Paul a point, in addition
to the 21s per cent. dividend which was
taken off. General Electric, rev stock,
Sugar, Metropolitan Street Railway and
Peoples Gas all showed declines, ranging
from sharp fraction up to nearly IL.
Sugar showed resistance, and drifted back
to the neighborhood of Thursday nights
closing price. With that the market fell
into torpor, the bears being discouraged
from further operations in face of the hard
ness of prices and the easier tendency of
the money market. and the bulls being dis
inclined no
ditions in the money market become more
settled. Some reliance has been placed on
the dawning interest in Americans which
was becoming manifest on the London ex-
change as a help to the next bull campaign
But New York demand on London for gold
and the consequent stiffening of the money
rate there, which went to 2 per cent for
call loans and 23s@2A per cent. for private
discount, has brought speculation in Lon
don to a standstill. Americans have fallen
fiat there along with the other markets.
There were movements in individual stocks,
but the market as a whole presented a
waiting attitude. Tobacco was weak, and
sold as low as 1473s The mercurial New
York Air Brake dipped 10 points and re-
covered without any perceptible influence
on the general market. Chicago Terminal,
Evansville & Terre Haute, Central and
southern PacificS and few other compar-
g INely OBSCURE STOCKS showed noteworthy
advances Peoples Gas was up on the an
nounced settlement of the controversy with
the Indiana Natural-gas Company. There
was good buying on a small scale of the
grangers and the Pacifics on the statements
OF earnings. Net changes in the majority
of cases are small and fail to reflect any
general condition of business
Inc bond market was extremely dull.
with the exception of San Antonio &
Arkansas Pass tours, which went up points
on large transactions. Price changes were
irregular Total sales. $,S00,0C0. Govern
nlent bonds were unchanged.
The following table prepared by L. W.
Louis. Room IL. Board of Trade, shows the
range of quotations: