The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-12
SOME SMART DECLINES
sPECIALTIEs SOLD OFF AND THE
CHANGERS ALSO DEPRESSED.
Tobacco Trust Stockholders Receive
q Dividend of 100 Per ~Cent.-LocaI
Markets Continue Strong.

At New York. yesterday, money on call
was steady at ga per cent; last loan. 4
per cent.
Prime mercantile paper, 3lzd4H per cent.
Sterling exchange was easier. with actual
business in bankers bills at A.s64d4.s7 for
demand and at A.s4Sd4.Sz for sixty days;
posted rates, A.s5izd4s61s and $~4.S7l5g4ss1a;
commercial bills. A.S4h@4S4la.
Silver certificates. 6112@62hc: bar silver.
61sc; Mexican dollars, 4s1kc. At London, bar
silver closed quiet at Is S-l6d an ounce.
The total sales of stocks amounted to 631.-
7S shares, including: American Steel Hoop,
1000: American Steel Hoop preferred. 400:
American Steel and Wire. 19. 800; American
Sugar. $1,000; American Tobacco. 5000:
American Tin Plate. 1900; Anaconda. 0.90o;
Atchison, $500: Baltimore & Ohio, 500:
Brooklyn Transit. l06. 300: Burlington. 13. 400;
Burlington rights. 1890: Chesapeake &
Ohio. 1900: Chicago Consolidated Traction.
1900: Chicago Great Western. 5000: Colorado
Fuel and Iron. $500; Continental Tobacco,
19, 900: Federal Steel, $500; Federal Steel
preferred. 400: Louisville & Nashville, 800;
Manhattan, %, 600: Metropolitan, $500; Mexi-
can Central, 500: Missouri Pacific. $500:
National Steel. 800: Norfolk & Western
preferred. $500: Northern Pacific. $500:
Northern Pacific preferred, $500: Ontario e.
Western, $500: Pennsylvania Railroad. $500:
Peoples Gas. 1900; Reading first preferred.
$500: Rock Island. 1000; st. Paul, 300;
Southern Railroad, $500: Southern Railroad
preferred, 4.e0O; Tennessee Coal and Iron.
$500: Union Pacific. 5000: Union Pacific pre-
ferred. 500: Wabash & Lake Erie. $500:
silver bullion. 10000 ounces.
There were smart declines In the special
ties yesterday, but the recessions in the
railways were fractional. 1t was a holiday
on the continent and the death of an Eng
lish banker restricted some of the arbitrage
business, but London took about 5000
shares OF the international stocks. Sterling
exchange was easier and money ranged
from 3 to 4 per cent. on call, with the last
loan at the smaller figure. One reason is
that a fairly large volume Of money Is NOV
ing toward New York from the interior.
The crop report was at first interpreted as
more favorable than expected. but subse-
| quently the bears used 1.-The decrease in
acreage" TO depress the granger stocks.
which had. earlier. displayed considerable
strength. Burlington's net loss of over a
| point was the largest in this group. The un-
Outstanding that the Ford franchise tax
bill would become a law was again used
| against local New York shares. the traction
shares showing net losses ranging from l
to 4 points. the maximum loss being in
| Metropolitan, in which 1t was said part of
a heavy line Of shares had been liquidated.
The veto by the mayor of the rapid transit
bill failed to sustain Manhattan. Covering
left these stocks above the worst and other
shares alphabetically rallied slightly in the
later afternoon. The market closed irregu-
lar. Among the weak spots were Sugar. In
ternational Paper preferred and United
States Leather preferred. while Tennessee
| Coal and Iron retained over a point of a
| gain. Recessions were noted, also, In the
| iron and steel stocks. The reaction in the
market was deemed natural by some inter-
ests In view of the violent recovery.
| Wednesday, which Cancelled a large part of
the reputed short interests in the market.
Speculation lacked any decided vim and
there were marked periods of stagnancy
which were dissipated at intervals when
sales were made. Realizations furnished the
and the occasional bursts of strength were
largely attributable 10 covering by the
traders at a favorable level. American To-
| bacco was dealt in ex. dividend of 100 per
| cent. and closed at 1921, as compared with
| PIP Wednesday night.
| The BOND market showed frmness on mod
crate dealings. Total sales, 81. 200. 1000. United
States tours, registered. advanced a. and
the fives and the threes Is in the bid price.
The following table, prepared by L. w
Louis, Room II, Board of Trade. shows the
i range OF quotations: