The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-11
SHORT WEEK IN STOCKS
HOLIDAY ANNOUNCED ON CHANGE
UNTIL NEXT TUESDAY.
Trading Showed Marked Falling OFF
During the Week from Previous
RecOrd-LOcaI Business Quiet.


was steady at 2q212 per cent; last loan,
21a per cent.
Prime mercantile paper, 2$4d3Hc per cent
Sterling exchange was steady with actual
business in bankers bills at 81. S512d4S534 for
demand and at $4.S314@4.S334 for sixty days;
posted rates, $i.S4G4S41A and $4.S6Q4S612
commercial bills, s4.S21k@4.SS.
Silver certificates nominal at 5915G6O1ac;
bar silver, 555sc; Mexican dollars. 471sc. At
London bar silver closed steady at 271zd an
ounce.
Total sales of stocks on Change yester-
day were 463, 100 shares including: Atchison,
$3.50; Atchisor preferred 1880; Central Pa
cific, SOY; Burlington, 1O0,995; c., c., c. &
st. L., 1850: L. E. & w. preferred, 3,915;
Louisville & Nashville, 3,195; Manhattan, A.
$40; Metropolitan, 4,31O Reading preferred
1880; Missouri, Kansas & Texas, 3.400; Mis-
souri,, Kansas & Texas preferred, $500; Chi
cago, indianapolis e. Louisville preferred
1888; Jersey Central, $40; New York Cen
trail, 800; North American, $3.50: North
ern Pacific, $3.50; Ontario & Western, $50;
Rock Island. $780, st. Paul 2O,O20 South
ern preferred, $3.50; Texas & Pacific, 3,S25;
Union Pacific preferred, 1855; Paper 400;
Tobacco, 1890; Steel, $3.50; Peoples Gas,
6.525; Consolidated Gas, 1890; Brooklyn
Transit, $685. Pacific Mail 1O,74S; Sugar, Is
AS; Tennessee Coal and Iron, 1850; st. Louis
& Southwestern preferred, 1920
The New York stock market left off yes
terday with advances in the leading spe-
cialties and prominent railways, with the
tone unsettled. The dealings were largely
professional and were in the nature of even
ing contracts over the triple holiday The
early trading was practically featureless.
Commission hoUsesShad but few orders and
the trading for London account was in very
moderate volume without any marked ten
qency. The railways were inclined to sag
in the early trading, st. Paul earnings in
crease of 900 falling below expectations.
Aggressive buying of Burlington disspated
the early hesitancy and had favorable in
nuehCe on the market generally. The coal
ers showed particular strength as did New
York Central, Pennsylvania and the grang
ers generally The usual refunding stories
which lacked official confirmation were re-
vived in connection with Burlington
strength. Pacific Mail recovered an early de
cline which was attributed to advces that
the steamship subsidy bill was unlikely to
pass. Sugar displayed strength, while To-
baccC was weak most of the day. The fur
Their success about Manila had a sentiment
tally beneficial influence values. Prices
rose until delivery hour, when there was a
brisk selling movement. but stocks were so
we'll taken that a rally ensued in some
quarters in the final dealings and the mar
ket closed over the holidays, to be reopened
Tuesday morning. Meanwhile the bank
statement will appear and much Importance
attaches to its character.
Railroads and miscellaneous bonds were
in good request throughout the day with
sales, $3,S50O0. United States old tours, reg
istered, advanced Il and the fves, regis
tered, Is in the bid price.
Stock prices this week were extremely
variable, with a contraction in dealings
compared with the recent large volume.
Comparative prices show great irreguarity,
with losses prevailing. The uprising at
Manila eXerted disturbing effect, but spec
ulators were inclined to view this incident
assuring the ratification of the Spanish
treaty. According to the traders view, the
disposition Of this matter would be favorable
to stock prices, inasmuch as it would re-
move one Of the uncertainties of the stu
alton. Therefore there were purchases Of
stock in anticipation of the Senate's action,
although there were many confusing advices
as to what that would be. London took a
more optimistic view Of the announcement
that the treaty had been ratified by the
Senate than that displayed by the local New
York traders, who, following their custom
OF realizing profits on the elimination of
what they regarded as favorable news sold
freely Tuesday morning, and prices receded
very materially. rally set in about noon
the following day and continued until the
close of dealings on Thursday. This in turn
incident with the announcement of the sec
ond success of Americans operating against
the Fflipinos. The transactions for London
account were pretty evenly balanced for the
week. Tie shipments from London Of Amer
lean securities it was believed, would bring
the last batch that London had sold. These
sales in recent weeks, 1t was calculated,
were equal in value to about $50, 900 900.
These sales resulted in easier monetary con-
ditiOnS abroad, while at the same time money
appeared in abundant supply locally, there
being loans at as low as per cent for call
money. This is partly due to Americas
receiving in part payment for her large bal
ance of trade round amounts of gold from
Australia. The uncertainty and hesitancy in
the earlier part of the week may be attrib-
uted largely to the unfavorable interpreted
ton of last weeks bank statement and the
curtailment of dealings, and the uncertain
tone Of the market later may be accounted
for by speculation as to the probable show
ing Of this weeks bank statement Notable
advances for the week were Lake Erie &,
Western preferred, 324 Metropolitan Street
railway, 2, and Consolidated Gas 334 The
declines include Tobacco, s; Pittsburg Gin
cinnati, Chicago & ST. Louis, 6; the pre-
ferred, 534 and international Silver. 2B.
There was more stability to bond prices
than in stocks, although values of the spec
ulatiVe liens fiuctuated in accordance with
the stock speculation. The semi-speculative
issues assumed considera BILE prominence dur
ing the week, occasional buoyancy of these
mortgages tending to create pronounced
strength in the general market United
States old fours, registered advanced u,
and United States fives, registered, a.
United States new fours, coupon declined y
in the bid price.
The following table, prepared by L. w
Louis, Room II. Board of Trade shows the
range of quotations: