The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-21
BEARS TOOK COURAGE
AND BROUGHT ABOUT SLIGHT LOSS
Es IN THE STOCK MARKET.
Imports of Gold Prevented by the Ex-
treme Easy Money Rates-LOcaI
Trade Depressed.

At New York yesterday money on call
was easy at 2 per cent; last loan, ? per
cent.
Prime mercantile paper. 363sz per cent.
Sterling exchange quiet and steady. with
acSual business in bankers bills at $4s41k@
$4s4sl for demand and, S4.s21z04S2s4 for
sixty days; posted rates, $4.S3@4.S3ls and
$4.S51kd4.se; commercial bills, $4.S111Q4,S2.
Silver certificates, 56s4@57s4c; bar silver,
565sc; Mexican dollars, 45Ac. At London Lar
silver closed firmer at 26 5-16d an ounce.
Apparently the only thing that prevented
gold imports is the extreme easiaess of
money at New York, which is on the basis
of 1902 per cent. for call loans and de-
mand sterling. which was quoted at 4s4s4
yesterday, with the supply apparently Le-
ing more than equal to the demand.
Total sales of stocks 2O0, 100 shares, in
Guiding: Atchison preferred, 4.4l3; Chicago,
Burlington & Quincy. 9,73s; Denver & Rio
Grande, 3,OS5; Louisville & Nashville, APO;
Metropolitan. 3,210; Hawaiian, 1900; New
York Central, $500; North American, H. 432 /;
Northern Pacific, 5000; Northern Pacific
preferred, 2,S5O; Ontario, $780, Oregon
Short-line, 300; st. Paul. 1850; Texas &
Pacific, S,O15; Union Pacific, S,157 Chicago
Great Western, $3.50, and Sugar, S9,772.
Slight losses resulted from yesterdays
transactions in the stock market, which was
irregular and depressed on the resumption
of Cuban and currency agitation at Wash
ington, giving courage to several large bear
interests. Recent professional manipulation
of stocks is credited to people interested in
making a market for bonds acquired dur
ing the reorganizations. Western trade
advtces continued good, and favorable traf-
nc returns were published yesterday by
prominent railroad lines The market had
hardly recovered from its early hesitancy
Wnen liquidation and short sales were ap-
parent, with resultant sharp declines. To-
wards the close there was a somewhat inn
proved tone and increased activity. Lon
Mobile & Ohio and National Lead reflect
ed the declaration of dividends on those
properties. Oregon Improvement advanced
IA on an 1ntimation of possible changes in
that companys relations with other prop
critics in the Northwest. Great activity and
strength OF North American in the final
hour was based on rumors of a possible
reconstruction of the company'S business.
New Jersey Central and Delaware, Lacka-
wanna & Western declined IL and per
cent, respectively Northern Pacific and
Union Pacific were purchased for London
account. The money market continued to
ulSplay extreme ease, round amounts being
offered on call at per cent. This condition
or affairs was regarded by some of the
leading exchange interests as offsetting nos
sible gold imports, which, in a measure,
would be justified by the current exchange
situation. The net losses of Importance
O1.iAtS pASASlIeu, IA ou-
gar, /; Cleveland. Lorain & Wheeling pre-
ferred, ~; Columbus, Hooking Valley q To-
ledo, /; Delaware q Hudson, /; Minnesota
Iron, 1; Buffalo, Rochester & Pittsburg
IA. The gains were: Canadian Pacific 22s;
National Lead, common, l; Chicago & East
Oregon Short-lne. rs.
The bond market continued to reflect
substantial outside interest, which was re-
sponsible for notable improvements in some
of the lOwer-grade liens The aggregate
transactions were $3.7970O0. The govern
ment bond market was neglected with
slight concession in bid prices in some is
sues.
The following table, prepared by l.. w.
Louis, Room II. Board of Trade shows the
range of quotations: