The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-04
STOCKS ARE UNSETTLED
PRICES FLUCTUATE WIDELY AND
MANY SHARES CLOSE LOWER.
No Conf rmation Yet as to the Big
Steel Consolidation-LocaI Mar
kets Active and strong.

At New York. yesterday, money on call
was 4Q5 per cent. last loan. 5 per cent.
Prime mercantile paper, 31zQ4A per cent
Sterling ex~change-Actual business in
bankers bills at A.s71zQ4.s7A for demand
and at s4.S51ka4SA for sixty days; posted
rates. $4.s6h and A.S7h: commercial bills.
$4S4hG4.S.
Silver certificates, s21sd62Ac; bar silver,
617sc; Mexican dollars, 4S11c. At London bar
silver closed uncertain at 2S3sd an ounce.
Total sales OF stocks amounted to 53S.570
shares, including: American Spirits. $500;
American Steel. $500; American Steel Hoop
preferred. $500; American Steel and Wire.
$500; American Sugar. $500; American
Tin Plate, 3, 100; Anaconda, II, 300; Atchison,
| $500; Atchison preferred. IL. 200; Baltimore
& Ohio, IL, 300; Brooklyn Rapid Transit, 65,-
zoo; Burlington. Il, 200; Chicago Consolidated
Traction, 600; Chicago Great Western,
400: Consolidated Gas, 9,1OO; Continental
Tobacco, 1000; Delaware & Hudson, loo;
Federal Steel. 1000; Federal Steel pre-
ferred. $500; Louisville &c Nashville, 1900;
Manhattan Consolidated, %, 700; Metropoli-
tan Street-railway, 5000: Minneapolis & st.
Louis preferred, 400; Missouri Pacific, 800;
National Steel, 6,lO0; New York Central,
3,ao0; Northern Pacific, $500; Peoples Gas
and Coke, $500; Reading, $500; Reading
first preferred, 1920; Rock Island, ZOO; st.
| Paul, 72,60o; Southern Railway preferred,
1850: Tennessee Coal and Iron. 1900; Union
Pacific. 1900; silver bullion, $500.
The stock market moved in an uncertain
manner and left off generally lower. with
the declines most accumulated in the coal
ers, Consolidated Gas, Sugar and American
Spirits. Commission house business was
small. and London and a number of pro-
4 -ool,.zl ,~ogt. ~, ctAoly 1atrrht
at the low figure Tuesday. Much of the
buying appeared TO be covering Of shorts.
| The early trading continued the strength of
| Tuesdays closing, but realizing and sales
on the theory hat the recovery had been
too rapid took the snap out or the market.
The weakness of the coalerS was on heavy
sales by a prominent holder who had been
carrying a long line OF these properties.
Disappointment was expressed In some
quarters that no announcement was FORTH
coming concerning a coal deal now that
the New Jersey Legislature has been adj
tourned for some time. The steel ana wire
stocks displayed frnness on the belief that
negotiations were pending TO consolidate a
number OF these properties. Although moth
ing positive as to the details could be
learned, IL was said that a capitalization
of over $00,000,0 900 was contemplated The
application of American Steel and Wire to
be listed by the exchange, together with
dividend gossip, was an aid TO that stock.
Brooklyn Rapid Transit fiuctuated widely
p pIe's e Gas and NIP Pa CHIC Mail Wv We're also Strong.
The general railway list was fractionaliy
lower. Consolidated Gas recovered some,
but on the increased cutting of gas prices
again broke several points and closed near
ly 2 points off on the day. The arrange
ment to retire the first preferred stock of
Minneapolis & st. Louis caused a rise OF
over 4 points in the second preferred. The
closing of pool accounts in American Spirits
and Sugar was said to account for the
weakness in these properties. The market
closed weak.
Most of the prominent bond issues scored
| improvements, with the advances quite
marked In some cases. Total sales, $2.l5o.UO.
United States threes. coupon, and the new
fours, coupon. advanced Is in the bid price:
The following table, prepared by La w.
Louis. Room IL, Board Of Trade. shows the