The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-07
STOCKS THROWN OVER
QUANTITY HELD For AN ADVANCE
LET GO AND PRICES BROKE.
Some OF the SpeciaIties Scored Severe
Aosses Near the Close-LOcaI
Markets Quiet.

At New York, yesterday, money on call
was firm at 212d4 per cent; last loan, 3.
Prime mercantile paper 1884 per cent.
Sterling exchange was steady with actual
business in bankers bills at s4Sl404S41a for
demand and at $4S134a4s2 for sixty days;
posted rates AS21z and $4S51a; commercial
bills. $3.50.
Silver certificates. 5913@6ol2c; bar silver,
SIC; Mexican dollars. 1880 At London bar
silver closed firmer at q 5-16d an ounce.
Total sales of stocks, 500 shares, in
Guiding: Atchison preferred, 1880; Burlng-
ton 1896; Louisville &, Nashville, 5000: Man
haitian, 3O,52O Reading preferred, $3.50; Mis-
souri, Pacific. ii 1890; Mobile & Ohio, $3.50;
Missouri, Kansas & Texas preferred 1850;
Northern Pacific 500; Rock Island 800;
Union Pacific, 1920; ST. Paul. 1880; South
ern preferred, $751; Texas & Pacific, $500;
Union Pacific preferred $3.50; Y. p, d. &
G., 800; Wabash preferred, 1920 Wheel
ing & Lake Erie 1925: Tobacco, 1900;
Steel, 61,620; Steel preferred, 1880; Peoples
Gas 3S,480; Colorado Fuel and Iron, II $50;
Pacific Mail, $685.; Rope and Irvine. 500;
Sugar. 1880; Tennessee Coal and Iron, 5000;
Leather preferred, 1900; Rubber, 1900;
Western Union. 1900; St. Louis Southwest
ern preferred, $685.; Chicago Great Western,
400
Persistent bear pressure in New York
stocks yesterday caused much stock held
for a rise to be thrown over, resulting in a
considerable break in the specialtes and a
decline of about point in many of the rail-
way stocks. The market was broad and I'M
usually active during the liquidatng pro-
cess. London was a seller on balance. The
variations in the early quotations at New
York were small. but an unsettled feeling
n hat Of
specialties which have recently been market
leaders showed lack of support. There were
temporary rallies. one at about midday,
bringing prices back to Thursdays closing
ngures. Chicago appeared to be moderate
seller, while Washington houses seemed
purchasers. AT time or another a pro-
hounced strength and material advance were
SHOWN by Colorado Southern, Pittsburg, Gin
cinnati, Chicago & st. Louis, Southern Pa
cific. Western Union Colorado Fuel and
Iron Rubber. Tobacco Sugar Chicago Cas-
New York Air-brake and Manhattan, al
though the advances in these stocks were
partly eliminated, while in the case of Man
hat an and Chicago Gas they declined below
thursdays close in the heavy liquidation of
the last hour. Wheeling & Lake Erie and
Ontario & Western We're also strong spots
me weakness of the Flower specialties. in
GLIDING New York Air-brake. which lost
early rise Of points and Brooklyn Transit
which declined 55s from the top, Federal
Steel and Chicago Gas receding 2 points,
were features in the late decline. A dis
quieting feature of the late trading was a
sharp advance in call money, which imme-
diately dropped back. however, to normal
figures on the appearance of considerable
supply. Western Unions strength was ac-
companied by gossip that an agreement had
been made with the Postal Telegraph Com
pany regarding rates. Talk about the pos
sibity of a rival refinery closing down be-
cause of the unprotita bleness of present
business was simultaneous with a rise of
points in Sugar
Considerable rregularty prevailed in the
bond markets, speculative issues favoring a
lower level in sympathy with the course of
stock prices. Total sales. IS. $50 600 United
States twos, registered, and the fives. cou-
ION. advanced Il and the threes and the
tives, registered, Is. The old fours. regis
tered, declined Is in the bid price.
The following table, prepared by T.. w
Louis, Room II, Board of Trade shows the
range of quotations: