The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-19
TRADE ON CHANGE DULL
NEWS DEPRESSING AND FOREIGN
ERs UNLOADING SECURITIES.
business Lighter than for Several
Days, with Spectators Cautious
Local Trade Quiet.

At New York yesterday money on call
vas easy at 1Aq1H per cent. the last loan
being made at III per cent
Prime mercantile paper, 3a4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at S4.S5as for de-
mand and at $ls904s3h for sixty days;
posted rates, $4S4 ard $4.S6la; commercial
bills. $4S2.
Silver certificates, 5J74056lac; bar silver,
59s4c; Mexican dollars, 45hc. At London bar
silver closed quiet at % 1S-l6d an ounce.
Total sales Of stocks. S5l, 800 shares. in
Guiding: Atchison preferred, 1861 Canadian
Pacific, 300; Chicago Burlington & Quincy.
1881; Lake Shore, 1888; Louisville & Nash
vile, 1910; Manhattan 9,240: Metropolitan,
GAS; New York Central, 6.1S0; North Amer
lean. 3.001; Northern Pacific, 3,615; Northern
Pacific preferred, 1850; Rock Island, $3.50;
st. Paul. s.. lis; Union Pacific 1881; Union
Pacific, Denver & Gulf, 1890; Tobacco, A.,
1O2; Peoples Gas, 3545; Consumers Gas,
S,S70; General Electric, 1905; Sugar, STA;
Western Union, 5,O52
The tone of the spec ltion was doubtful
and hesitating in Wall street yesterday, and
a large preponderance of the days deal
ings was in Sugar and the grangers. Near
Iy 90 per cent. of the total transactions was
In these stocks. Coupled with the fact that
the total sales of all stocks showed a
marked decrease from the recent average,
the large proportion absorbed by these spe-
cialties formed a significant commentary on
the condition into which the market has
fallen. After the opening weakness. due to
sympathy with London and some other for
eign exchanges had been overcome it
looked as il the strength radiating from the
grangers had prevailed in the market, but
the increasing weakness of Sugar, coupled
with a fall in the prices of lo~ New York
specialties in the final hour $ a decisive
factor in driving prices w Thursday
nights level. The radio .erance made
In the course of the de precipitated in
the Senate on the Ma fsaster also en-
gendered distrust in minds of specu-
on the decline was far the most ami
mated of any during day. The grangers
were largely influenced by the conditions in
the wheat market but there were also spe-
cial causes at work in their behalf Gossip
was rife as to the probable action of the st.
Paul directors on the dividend rate, the ru-
mors all pointing to an increase. The alb
sorption of this stock was credited to
powerful financial interest which said
10 be selling out it's holdings of Sugar at
the Same time. London supplied st. Paul
stock freely. and sold other international
stocks here. Rock Island responded to the
action of the directors in calling the de-
benture and extension bonds, thus assuring
the stock the benefit OF an early reduction
OF liked charges. The Union Pacific, Den
yer & Gulf securities We're strong on rumorS
that the reorganization in prospect would
bear easily on them. Adams Express was
an instance of strength, selling at 11Slk, an
advance of 312. as against a sale at par on
Tuesday, Elk. dividend aud Elk. 100 per cent.
in bonds representing the distribution of
the surplus
The bond market held firm, except that
some of the speculative issues yielded in the
late dealings There were very heavy in
dividua transactions in the Union Pacific
foufs the Texas x Pacific seconds and Rock
Island extension ilves Total sales, $780,
600. United States old Tours coupon were
"a higher. bid, and the old tours, registered
the new tours and the fives, Is higher bid
The following table. prepared by l.. w.
Louis. Room H. Board of Trade, shows the
range of quotations.