The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-26
LOWEST OF THE YEAR
HEAVY SELLING OF STOCKS FOR
WASHINGTON HOUSES.
share List and Bonds All Depressed
Trade Better since the Rain.


was steady at 124q2 per cent; last loan at
per cent.
Prime mercantile paper, 41z051k per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4.S5i4@4.sSA
for demand and at $4.S05sd4s1 for sixty
days; posted rates, S4S112q4.S2la and s4si12g
ASH; commercial bills. $4.S0l4.
Silver certificates. 555sG56c; bar silver, SOC;
Mexican dollars, 44%c. At London bar sill
yer closed at % 9-16d an ounce.
Total sales of stocks $4,000 shares, in
GLIDING: Chicago, Burlington & Quincy,
81, 427; Louisville & Nashville, 6,135; Man
haitian, 20. 705; Metropolitan 5000; Missouri
Pacific $3.50; New Jersey Central, 3.645; New
York Central. S,Ol2; Northern Pacific, 4,150;
Northern Pacific preferred. 1925; Rock ISL
and, 1926; St Paul, $1,000; Union Pacific
preferred, I1.49O: Tobacco 100; Peoples
Gas, 9,4e5; Sugar, S1,S9O; Western Union,
1870.
Yesterdays closing prices on New York
Change were the lowest in most cases since
the Cuban question became a dominant fac
tor in the situation Twenty active shares
averaged lower than at any time this year.
and government new tours, coupon, were
down to 1881 bid. This was on the as
sumption that new issues were possible if
PCe~~
long Before the battle ship Maine was
| blown up they were quoted above 12S. 1t
was freely predicted that the Maine report
| would be extremely unfavorable. The mar
| ket opened with quotations slightly below
| Thursdays final figures. The bears, how
| ever, were determined to bring about a sub
stantially lower level and hammered many
of the leading stocks vigorously in an en-
| deavor to precipitate liquidation. The local
| transportation shares and Sugar were the
| most vulnerable points of attack and the
| extreme weakness in those specialtieS was
| soon communicated elsewhere. Numerous
| stop-loss orders were executed and the mar
| lxet fer a time took on a very animated APP
| pearance, with losses ranging between and
! points during the first half hours opera
TONS Purchase for London account and
| an effort on the part of some traders to
| rally prices gave a Steadier tone, which,
| however, was accompanied by extreme stag
nation. AS the day progressed the market
dipped frequently, but there was an absence
of feature in the general speculation until
the final hour, when extensive llqmdation
set in, which depressed the bulk of the
| high-priced specialties to the lowest ngures
of the day. The efforts of the bears to de-
| press prices were aided by judiciously dis
tributed tips that there would be an at
tack on the list in late trading Washlng,
ton houses were sellers, and 1t was inferred
that they might have some animation OF
the nature of the Maine report. The local
New York specialties were consplcuously
weak, Third-avenue Traction losing ~ per
cent. There was a published story that
scrip dividend of 100 per cent. was IN
contemplation in order to increase the COM
panys stock capitalization sufficiently TO
| permit the lawful issue OF new bonds IN
payment for recently acquired lines Metro
| potan Street-railway loSs AZ, Mammalian
23s and Consolidated Gas 5ss. Sugar was
| down 3k, partly on fear OF the proximity OF
increased competition in the trade. Inc
steady decline in this stock tended TO Color
recent reports that inside support had beel
withdrawn for the time being. The break
in Northern Pacific preferred or l12, accom-
| panied as it was, by weakness in Canadlan
| Pacific, was taken to indicate something
unfayorable as forthcoming in regard 10
the rate war New York Central and the
grangers showed little resistance to attack
There was a further engagement Tor I'M
| port of moderate amount OF gold, max
ing the total for the present movement
including that from Australia, nearly $780,
: | 000,C00. The foreign exchange market ex-
hibited heaVineSS and some concessions were
noticed in rates, posted figures in one In
stance being lowered 1ac. This incident
regarded in measure as presaglng
further influx of gold a.
Quotations for railway mortgages CON-
ued to sag on light offerings, which foraono
most part consisted of usually active &C.
ulative liens. The total transactions 49,
: 81, 100000 rene
Government bonds displayed e5 feIIe
4 | weakness the new tours, coupon anc1 ISi ST.
tered, and old tours, coupon, yleldlr reojS
: cent. in the bid price. The old four The
= tered, suffered to the extent or 12,aoh W
( fves, coupon and registered, lost VIZ
I The following table prepared ~ +ho
e Louis, Room II. Board of Trade, ~" 'S
range of quotations: -, C~1oe