The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-19
A DULL STOCK MARKET
EVEN THE FAvORITE TRUST SHARES
NEGLECTED AND WEAKER.
Prices Drifted AimIessIy Most of the
Day and Temporary Advances
Were Lost-LOcaI Trade.

AT New York yesterday money on call was
steady at 20211 per cent: last loan. 21s per
Prime mercantile paper. 314G4 per cent.
Sterling exchange steady, with actual business
in bankers bills at s4.S4A 0i.s411 for demand and
at s4.SllzG4sl% for sixty days; posted rates.
s4.s27s and s4.S5; commercial bills, s4S0l5.
Silver certificates 6OA@61c: bar silver. soc; Mex
lean dollars. 46a4c. At London bar silver closed
steady at q 11-l6d an ounce.
Total sales of stock were 1745oO shares. includ-
ing: Chicago, Burlington & Quincy 1850; Man
haitian. BIS; Metropolitan Street-railway, 1850:
Northern Pacific, $3.50; st. Paul, 9,O15; Union
Pacific preferred. 1892 American Tobacco A. 9S5;
American Tobacco preferred 1889; Sugar 40. no.
Prices of stocks drifted suggishly and to all
appearances aimlessy all through yesterdays ses-
sion on the New York Stock Exchange. The
almost stagnant condition of the market was
scarcely relieved by single feature. Even the
trust stocks fell into neglect after long period
of erratic fluctuations. Tobacco was raided down
at the opening on explicit announcements that the
much talked-of plug tobacco combination had
once more fallen through. There was injected
into the duest portion of the trading two success
sive transactions of 1880 and 5000 shares re-
spectiveiy, of Tobacco preferred at 115, seller
thirty. This represented a transaction Of over
s2.OOO.OOO and was supposed to slow the disposal
OF the companys treasury stock, application for
the listing Of which was made Monday. The
common stock rather feversh for a time
after this sale. but settled down into seadiness
and neglect. There was upturn in Sugar also
during the day, which was explained by the
that certain grades of soft sugar had been adj
vanced In price. Realizing subsequently wiped
out practically all of the advance. The railroad
list held generally firm throughout the early part
of the day, but subsequently eased off in SYM
pathy with Sugar and Northern Pacific. The
daily attack on coalers lacked vim and the de-
cline only reached point in New Jersey Central.
The traffic statement OF ST. Paul for the second
week in October showing increase over last
years earnings of nearly $4,000 is undoubtedly
pretty fair indication of what is going in the
grain-carying roads. All reports agree that it
is difficult to secure enough to meet the de-
mand for the freight movement, both eastward
and westward bound. The speculative public APP
parently views these developments with apathy.
The same apathy existed in all the securities
markets of the world. the pause in London being
attributed to waiting for settled political
conditions and the completion of liquidation in
Berlin growing of the money stringency there.
The process of accommodating exchange here is
going on from day to day and the banks continue
to gain cash from the subtreasury The final
alotments Of the government Office at Washington
makes 1t probable that government deposits in
national banks will approach the 800 900 900
mark, after which the running deficit in the
revenues is expected to steadily diminish this
account
Bonds dull but firmly held Total sales.
$l,345000 United States old fours registered, ad-
vanced h and United States coupon first ives Il
in the bid price,
The following table, prepared by l.. w. Louis.
Room II. Board of Trade, shows the range of