The Indianapolis journal., 1898-02-24

At New York yesterday money on call
was easy at 11a@2 per cent; last loan, ia
per cent.
Prime mercantile paper, 3Gt4 per cent.
Sterling exchange was easier with ac-
tual business in bankers bills at $4.S52s for
demand and at $4S3GASSi4 for sixty days;
posted rates, $l.s4 and $4S6l2; commercial
bills. $4.S2.
Silver certificates. 55l4a56I2; bar silver,
55l2c; Mexican dollars, 45isc. At London bar
silver closed at 255sd an ounce.
Total sales of stocks, $4,000 shares. in
cIuding: Atchison, $50; Atchison preferred,
1920; Canada Southern, 5l65; Chesapeak &
Ohio 6,435; c.. B. & O., 2L119; Louisville
* Nashville, 1885, Manhattan 29,161; Met
ropolitan. $3.50; Reading preferred $3.50;
Missouri Pacific, $3.50; New Jersey Central,
$780, New York Central 5000; Northern
Pacific, $3.50; Northern Pacific preferred,
81 72s; Reading, 1920; Rock Island, 1854;
st. Paul, 1926 Southern preferred. 1875;
Union Pacific, 14J0S: Wabash preferred, B.,
30: Tobacco. 6,i5l; Chicago Great Western,
1860 Peoples Gas. $780, Consolidated
Gas. 3914; General Electric, $40; Pullman,
$3.50; Sugar 72035; Western Union, 720.
Yesterdays further decline in stocks un-
doubleday reflected a condition of real ap-
prehension in the minds of holders of
curities as to the developments in the Gu
ban question. Commission house orders to
sell were in large volume even at the open
ing and these soon swept away the adj
vances over Mondays level, which had
been deliberately arranged by the use of
the cable TO establish a higher range of
prices in London over the holiday There
was professional buying at New York at
the opening, designed to the same end, but
-.
London parity. Gains Were speedily wiped
out by the slump which followed the aban-
donment of the professional attempt to sus-
tain prices. The unc0Vering of margins and
selling orders to stop losses brought a
Hood of stocks the market. Sugar led
the break with decline of over points
after Il rise of point, and fiuctuated few
erishly all day, closing the lowest at
extreme decline of over three points. The
local New York specialties also
ters or Weakness, Metropolitan Street-rail-
way losing points and Manhattan about
three tiraat Northern preferred dropped
on points The weakness OF the morning
was in spite of large buying in the New
York market for London account Esti-
mates OF the volume of this buying ran as
high as $1,000 shares of stocks. The Lon
don market and the continental exchanges
showed an improved tone on the subsidence
can situation, but there was a significant
decline in London and Paris in
the Spanish fours the, closing price
in London showing loss of q as
compared with Mondays closing. The
Weakness in the stocks which were the
fsNoriteS in thep London buying was de-
ferred until later in the day. but they ulti-
mately succumbed along with the rest of
the list. In fact, the weakness of these
stocks after the sustaining force of the
l.onGon baying had been withdrawn. con-
tributed to the final break I'm the market
The days net losses exceeded points in
only a few of the standard stocks but
were over points in some of the special
ties.
The outlook in the money market is not
uch as To encourage speculation. Call
loans were made at per cent. Currency
continues TO move to the interior and the
clearing house of $1772.51e, rejecting the
withdrawal of another 10 per cent. install
meDt OF the governments deposits of the
Union Pacific payment. Foreign exchange
weakened only slightly in face of the large
London buying Or stocks The decline in
exchange on Paris was more marked This
development offers some cOrrobOra tion of
the report that portion of the money
which Is going from Paris to London on
account of the disturbed condition of af-
fairs I'm the French capital is going into
American securities. Standard Oil lquidat-
ing certificates are not dealt in on the EX-
change, but in the outside market they sold
at $40, against 800 at the opening. Before
the recent 10 per cent. dividend diStribu-
tiOn In the stock sold at AS.
Bonds were weak in sympathy with
stocks, especially I'm the speculative issues.
There We're very heavy dealings in the
Union Pacific fours. Total sales.
$l.2I5.tD0 Government bonds were de-
registered. declined y United States fours.
coupon. and the old fours, registered. the
fives and the twos. 4 bid.
The following table. prepared by J. W.
Louis Koom II. Board of Trade, shows the
range OF quotations