The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-06
DULL TRADE in STOCKS
BEAR PRESSURE AND GENERAL
HEAVY FEELING NOW PREVAILS.
The S%pecinlties Show Renewed Weak
ness and Declines Are Widely
Distrfbuted-LocaI Trade.

At New York, yesterday, money on call
was 3ta4 per cent. last loan, 4 per cent.
Prime mercantile paper. 3h4d4h per cent.
Sterling exchange was firmer, with actual
| business in bankers bills at $.SAH4.Sl2 for
demand and at s4.S5A@4.s51k for sixty days;
posted rates, s4.s61s and s4sSllz; commercial
bills. s4S1kG4.s5.
Silver certificates, 61AG62c; bar silver. Sic;
Mexican dollars, 4Sc. At London bar silver
closed uncertain 1T 2sd an ounce
The total sales of stocks amounted to
$50. OBS shares. including: American Steel
and Wire, $500; American Sugar. $500;
Anaconda, $500: Atchison preferred. $3.50;
Brooklyn Rapid Transit, 2s.o00; Chicago,
Burlington & Quincy rights, 40. 200; Chicago
Traction. COCO, Chicago. Burlington & Quin-
cy X, $500; Chicago Great Western, 5,7O0;
Consolidated Gas, $500; Continental Tobac-
CO, 1900: Continental Tobacco preferred.
3.lOo; Federal Steel, u.6o Federal Steel
preferred, 800; Louisville & Nashville. 400:
Manhattan Consolidated, $500; Missouri Pa
cifc, 500; National Steel. 300; New Jersey
Central, 1900; New York Central, 400:
Northern Pacific, 5000; Ontario & Western,
300; Pennsylvania, $500; Peoples Gas, $500;
Reading. 1000 Reading first preferred. 90
500; Reading second preferred. 5.400; Rock
SA1AAA NBNSs 1' Ill v wv OOoA
and Iron, 1900; Union Pacific, AGO; Union
Pacific preferred, 400; silver certificates,
SO, 600.
The New York stock market was of a
highly professional order yesterday, and al
though support appeared from time to time
in particular stocks, the tone was weak
practically throughout the day. The grang-
ers, coalers and a number of specialties,
particularly Brooklyn Transit, Peoples Gas,
Sugar, American Steel and Wire, Cont
mental Tobacco and Anaconda, were es-
| pecially weak. The feverishness of prices,
accompanied by bear pressure, induced con-
siderable liquidation. London was a pur-
chaser Of moderate amounts, but not
enough to sustain the international stocks.
While the bank statement can never be
forecasted with any accuracy. it is known
that the banks on out-of-town express
movement and SubtreaSury operations sus-
tanned a loss In cash of about $500, 90. This,
together with the understanding that to-
morrow's statement would not reflect the
S.0Oo,oO0 debit on account of the Spanish
ndemnit payment, led traders to assume
that the showing will not be altogether ia
vorable because of the financing of indus
trials and the subscriptions to the Amalga-
mated Copper Company. The understand
ing. however, that the subtreasury will cash
yO,OOO,OU indemnity warrants next week
was regarded as likely to make a large
addition to the loanable funds. which will
be reflected in subsequent bank statements.
Domestic news was scant, but the POSSIBLE
ity of British complications over Transvaal
affairs received some notice. There was
some liquidation of marginal holdings by
SPECTATORS discouraged at the seeming lack
OF inside support in certain properties and
the confident operations Of the bears. The
market closed weak at about the lowest.
A fairly good tone was maintained
throughout the day in bonds, which moved
INDEPENDENTLY of the stock trading. al
pressure. Total sales, S2,655. 900. United
States threes. the new tours, coupon, old
fours. registered, and the fives, registered,
advanced Il in the bid price.
The following table, prepared by l. W.
Louis. Room IL, Board Of Trade, shows the
| range of quotations.