The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-29
A CAUSE FOR DECLINE
WESTERN RAILROAD EARNINGS IN
DER LAST YEARS FIGURES.
Realizing Sales i'm FavOrite Special
ties Assisted the Bear Movement
Local Trade More Quiet.

At New York, yesterday, money on call
was easy at 1G11a per cent; last loan, IA.
Prime mercantile paper. 3d4 per cent.
Sterling exchange was firm, with actual
busine in bankers bills at "a. S512G4S5s4 for
demand and $4S4A@4.S41k for sixty days;
posted rates, $4.s5 and AS61a; commercial
bills, $4S304S31z.
Silver certificates. 59G59a4c bar silver,
59Ac; Mexican dollars, 45azc. At London
bar silver closed steady at q 5-16d an ounce.
Total sales of stocks were 261, 900 shares,
including Il, 447 Atchison preferred, TO- 2O c.,
B. & O., 1882 Manhattan, 1890 Northern
Pacific, $500 Northern Pacific preferred,
1871 Rock Island, 1886 st. Paul, 1885 Union
Pacific preferred, SO 695 Tobacco, 1876 Peo-
pies Gas, 4,345 Pullman, 2S635 Sugar 1920
Rubber.
Some Of the industrial specialties adj
vanced in the early trading on Change yes
terday on pool buying. inside support or
individual causes, but a realizing move
ment later in Tobacco and Brooklyn Tran
sit unsettled prices and wiped out all but
few gains The market was very narrow
and entirely professional stocks, which
were strong Monday, being sold to realize.
Sugar, Peoples Gas, Pullman, Consolidated
Gas, Tobacco and Brooklyn Transit and in
q uSSTee, hdHLdlldi, oil SHJOy6u
their periods of strength. The grangers
at one time stiffened up to about Monday
nights close on strength in Rock Island,
due to inside support and in part to Bur-
lington's May statement showing an in
crease in gross of $745,536 in the surplus
after charges of $202, 1886. But the suspension
Tor the present of grain movement and the
knowledge that the current earnings of
the grangers are falling below last year S
large average brought realizing and frac-
tional declines. Union Pacific preferred
was quite a marked sufferer from the re-
ports of rate-cutting in transcontinental
passenger business. The railroad list was
very much neglected for the most part, the
demand for the stock having apparently
died away entirely in spite of many favor
ing conditions of huSir eSS and the continued
ease in money. which seems TO show no
effect whatever from any effort to meet July
obligations or take up the government loan.
The very light demand for stocks is not ac-
companied by any pressure to sell large
amounts, and the result is an almost stag
indicate any change. The new tax on is
sues, transfers and sales of stock certifi-
Gates continues to absorb a large amount
of attention in Wall street, where the opin-
ion prevails that unless its literal provisions
can be successfully combatted in the courts
or legally evaded they will largely cur
tail professional speculation and operations
by room-traders for quick turn in the
price of stocks
Bonds reflect the pressure of available
continue to advance. Total sales 81, 6400 900.
United States old fours, coupon, and the
fives advanced a in the bid prices.
The following table prepared by l.. w.
Louis, Room II. Board of Trade, shows the
range OF quotatiohs' onan. HIGH. low c,os-