The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-17
A DULL STOCK MARKET
PRICES LOWER AT HOME AND
ABROAD, WITH LITTLE DEMAND.
Operators in the Worlds Markets
Fight-LOcaI Trade Active.

At New York yesterday money on call was
easier at 11sQ2 per cent; last loan, 11a per
cent.
Prime mercantile paper, 5N61a per cent.
Sterling exchange was strong, with actual
business in bankers bills at $4.S6AQ4.S612
for demand and at $4.S2s4G4.S3 for sixty
days; posted rates, $4.SS115 and $4S7; CONNER
cial bills, $4.s112Q4S2
Silver certificates, 5624 @563sc; bar silver,
SIC; Mexican dollars. 45c. AT London bar
silver closed steady at 26 Sled an ounce.
Total sales of stocks, 1886, 500 shares, in
GLIDING: Atchison preferred, 1876; c., B. &
O., 1905; Louisville & Nashville, $40;
Manhattan, $685. Missouri Pacific, 5.075;
Northern Pacific, $685.; Northern Pa
cifc preferred, 11s45; Rock Island,
26,O55 St. Paul. 1880; Union Pa
cifc preferred, 1882; Wabash preferred,
1915; Tobacco, 50,O45; Chicago Great West
ern, 4,74S; Peoples Gas, 5.945. and Sugar,
0,945.
The New York stock market was rather
dull Monday and the tone was heavy
throughout. Prices never got far away from
the opening quotations, except in few
cases. The opening was made in sympathy
with London, where the heaviness in all de-
partments continues on account of the I'M
easiness occasioned by Colonial Sec
rotary Chamberlains pessmistic view
of international politics Americans
were no worse sufferers in the London mar
ket than other securities. Their prevailing
high prices make them an inviting field
for liquidation. An additional incentive for
Londons selling Of these securities is that
it relieved the tension of London's unfa-
vorable exchange situation and the pressure
on 1t for gold. There was fair outside
demand for stocks in the first hour which
absorbed very well the offerings for London
account and worked some recovery from
the low point. The demand was soon salts
fed, however, and prices drifted for the re-
In3 adndeT OF the Day not far from the low
are point or over. Sugar was strong after
the opening decline and easily led the list
in point of activity. 1t was at one time
per cent. over. Saturdays close. There were
one or two other specialtieS, notably West
ern Union, Rubber preferred and Tennessee
Coal which were firm. Rock Island. in the
railroad list, was well held and at one time
reached above Saturdays close, selling on a
parity with Burlington. But these were ex-
ceptions to the general tone and their
strength exerted little sympathetic influ-
ence. 1t was evident that speculative activ-
naval strategy in the Caribbean sea. There
was prevalent a somewhat less Sanguine
expectation of speedy termination of the
war based on some disappointment over the
results of the bombardment at San Juan.
The evasiVeness of the Spanish fleet was
also taken as Indicating a possibility of ex-
tended maneuvering without material re-
suit. The reported failure of efforts to eff
feet junction with the insurgents and to
deliver supplies of arms and ammunition to
them was interpreted as demonstrating that
any decisive success in Cuba must wait on
the campaign of the United States troops
STERLING exchange rates advanced full Sc
but the market was reported dull. The
money market continued easy and accom-
modations on commercial paper were lib
eral. Bonds were dull and prices generally
lower in sympathy with stocks. Total sales
$l,2l6,0OO There was a decline of pa in the
United states registered tours of 1897. The
ponds We're otherwise unchanged.
The following table. prepared by L. w
Louis, Room II, Board of Trade shows the
range of quotations: