The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-18
ALL STOCKS TUMBLED
WASHINGTON TRADERS SOLD HEAV-
lily AND OTHERS FOLLOWED.
Heavy engagements of Gold Imports
Failed to Restore Confidence
Local Markets Quiet.

At New York. yesterday. money on call
was easy at 11sQ2 per cent; last loan, 2
per cent.
Prime mercantile paper. 41kG5k per cent.
Sterling exchange was steady. with actual
business in bankers bills at $4.S3s4@4.S4 for
demand and at $4.SOa4@4s1 for sixty days;
posted rates, $4.S115G4S3 and s4.S412Q4.S514;
commercial bills, $4.sOQ4.SO1A.
Silver certificates, 55Q55Ac; bar silver,
547sc Mexican dollars, 4494c. AT London bar
silver closed easier at Is 7-16d an ounce.
Total sales of stocks, 319, 100 shares, in
Guiding: Chicago, Burlington Quincy.
31,257; Louisville & Nashville. $500; Manhat-
tan. %, 1856; Metropolitan, $3.50; Missouri Pa
ciffc, 4,13O; Missouri, Kansas & Texas pre-
ferred. 1850; New York Central, 5195;
Northern Pacific, 4.915; Northern Pacific
preferred, 14,443; Rock Island, 1889; st.
Paul. %, 1876; Tobacco. 5000; Sugar, 64,565
There was complete reversal of senti-
ment on the New York Stock Exchange
yesterday. compared with that of the
earlier part of the week, and prices sagged
almost continuously. The losses averaged
nearly 2 per cent in the standard shares
and were more pronounced in the special
ties. where, in one case, the decline ex-
ceeded per cent. Trading was dominated
by the announced completion of the Maine
board of inquiry report, the failure of the
Pacific roads to reach an amicable agree
ment on passenger rates and the heavy SELL
ing by houses with Washington connec-
tions. A favorable factor, which had little
influence. was the continued influx of gold.
The present movement, including yester-
days engagements of $4,000 and the
e. r0O 00n sr tn
cess Of $780, 100000. The continued ease of
money likewise attracted little attention.
The resumption of uneasiness as to the
general Cuban situation seemed not to be
shared on the for eign bourses, where Span
ish tours advanced, although this may have
been due to the announcement that the in
tereSt payments which had been in doubt
would be made. The bears offered round
amounts of the grangers Sugar, Manhat-
tar, Metropolitan Street Railway and other
prominent securities. The absence or sup
port by leading financial interests was
readily perceived by the advocates of lower
values and utilized to the fullest extent:
prices afforded little encouragement TO
either party, being slightly mixed. Suisse
quent cables reported the London ex-
Spouse to this side. Sugar absorbed the
bulk of the traders attention during the
oay at receding e. prices It t was ene GOSSIP
rapid transit commissioners would an
nounce certain concessions to Manhattan
IN the way or extensions, out tnaI Stock
declined considerably. The net losses of 2
points or over follow: Metropolitan Street
Railway, AS; Sugar, 3S; Consolidated Gas,
21s; Tobacco, 21z; Manhattan, pa, and Pull
man, "a.
Operations in railway ard miscellaneous
bonds showed a further contraction in
dealings, with the aggregate reaching
$1.35e,0OO The tendency of the market was
downward throughout, and as has been the
case. of late, large preponderance of the
dealings centered in a few of the specula-
tive lines Quotations for government is
sues indicated losses of " per cent in the
issues of 1925 and a in the fours registered
of 1907
The following table, prepared by L. w.
Louis, Room II, Board of Trade, shows the
range of quotations: