The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-01
A RECESSION in STOCKS
EVERYTHING CLOSED LOWER WITH
OUT A PARTICULAR RAID.
Gas and Sugar shares Influenced by
dation Schemes-LOcaI Trade Quiet.

At New York yesterday money on call was
steady at PIGS per cent; last loan per cent.
Prime mercantile paper, 21403A per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.S564S54 for
demand and $4S3G4.S34 for sixty days;
posted rates, $4.4 and $4.S6; commercial bills,
S4S2@4.S 21a.
Silver certificates nominal at 5915d6015c;
bar silver, Sc; Mexican dollars, 471Sc. AT
London bar silver closed easy at q 7-16d an
ounce.
Total sales of stocks fell off to 10000
shares, including 551 Atchison, 3D. 95 Atchi-
son preferred, 1850 Central Pacific, $50
Chesapeake & Ohio, 9,315 Burlington, 14,064
Cleveland, Cincinnati, Chicago & st. Louis,
$500 Denver & Rio Grande, 64S5 Louisville
& Nashville, 1925 Manhattan, 5000 Metro
politan, 1920 Reading preferred $50 Mis-
souri, Pacific, 764O Mobile & Ohio, $500 New
York Central, 1920 North American, 41,07S
Northern Pacific, 4755 Northern Pacific pre-
ferred, 1915 Ontario & Western, 3017 Read
ing, $3.50 Rock Island, 1871 st. Louis & San
Francisco. H. 755 st. Louis & San Francisco
second preferred, IL ,225 Union Pacific, 10. $50
st. Paul, 24,1S5 Southern Pacific, 14,S40 South
ern, S,742 Southern preferred, 81, 200 Texas
q Pacific, 202S5 Union Pacific preferred, A.
Erie, 1920 Cotton Oil, $500 Tobacco, 20,SS6
Steel, 24,7S7 Steel preferred, 6,430 Peoples
Gas, 20,3S5 Consolidated Gas, 500 General
Electric, 7,125 Brooklyn Transit, 9,045 Pacific
Mail, $3.50 Sugar, 1850 Tennessee Coal and
iron, $3.50 Leather preferred 4055 Rubber
5,6l5 w estern Union, 1880 St. Louis & San
FRANCISCO preferred, 13.0O Chicago & Great
Western.
The average recession in stock values
yesterday was fractional. There no
aOA coli
by the diminished volume of business. There
were transactions in about three-quarters of
million shares, which formerly would have
oeen CONSIDERED large day business, but
which Is the smallest amount traded in for
some time for a full days session. London
continued a moderate seller on advance, and
the market showed alternate spells of
strength and weakness. There was consider
able selling for Chicago account. The
traders were free sellers at the opening, and
prices ran Off fractionaLy except for de-
clines of u point and over in Reading first
preferred, New York Central and Tennessee
Coal and Iron. Buying orders appeared in
rious directions, ana there were a number
Of rec0Veries from one to two points, includ-
ing Tennessee Coal and Iron. A decline in
Reading first preferred rumorS that
the coal deal was not developing as we'll as
expected. Central and Southern Pacific Mo
bile Ohio Cleveland, Cincinnati, Chicago
q ST. Louis, Long Island, Chicago Terminal
issues, Southern Railway preferred, Ameri-
can Cotton Oil and some other specialties
were consistently strong. A vigorous bear
against Sugar, caused that stock to drop
four points from the highest price which
it had attained on a continuance of the talk
of some arrangement with the Glucose and
Sugar Refining Company. The facts con-
corning the companys intentions are of
course, known only to the insiders. New
York Air Brake took dive of about seven
points. There was activity and strength
among high-priced investment stocks, in
Guiding New York, New Haven & Hartford
which touched 204; Great Northern, which
made new high record of 176; Consolidated
Gas, which touched 20412, and Brooklyn
Union Gas, 1872 The strength of these two
gas stocks was on various consolidation ru-
mors. In regard to Great Northern stocks
there was gossip that there might be another
melon cut by the government, perhaps in the
form of some distribution to the stock
holders. The time of such action was
clothed in much mystery. Generally speak
ing, the market went through the process of
digesting recent realization sales, and specu-
lative interests were largely conferred in
sDecialties.
The bona market was very irregular with
easy tendency towards the close. Total
sales, S4750,0O0. United States threes adj
vanced u and the new tours declined Is in
the bid price.
The following table, prepared by L. W.
Louis, Room H. Board of Trade, shows the
range OF quotations: