The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-15

Of stocks changed ownership was bewilder-
ing 10 the ordinary traders The opinions
OF many old operators were widely DIVER
gent and the quotations quickly proved the
uselessness of attempting TO guess at the
utes comparative quiet ensued, but still
compared with other dayN the dealings were
enormous The market closed under pres
sure. but materially above the lowest.
A WEEK OF LOSSES.
The market for the week suffered two vio-
lent declines, the first on Tuesday. when
agitation as to the probable effect of the
Ford tax bill worked havoc with values.
This was followed by an irregular recovery,
until the announcement of the death of ex-
Governor Flower Saturday gave a shock TO
the market. resulting in a dip below the fig
ures of Tuesday for his specialties and
bringing the general list nearly down to the
lower level established earlier in the week.
A recovery Of part of the loss took place
before the end OF the days session. The net
losses range from fractions up to over three
points in Burlington. Lackawanna lost 3
and Central Pacific. Southern Pacific and
Northwest are over a point each OFF for the
week. In the specialties the more pro-
nounced losses for the week were New York
Air Brake, 231z; Brooklyn Transit. 221a; Peo-
pies Gas. 10: Federal Steel. So, and Atchi-
son preferred and international Paper over
s points each. All these are properties in
which the Flower interest was prominent.
<hluOus tIc local SldEeS which Su1ereu De
cause Of the probability Of the Ford fran
chise tax bill becoming a law were Metro
politan, 1915: Third-avenue, IL; Consolidated
Gas. Is. and Manhattan. s. Sharp declines
were likewise made by American Tobacco
and the iron and steel shares.
The government crop report was at first
faVorably received. but later the decrease IN
acreage was pointed out as a discouraging
FACTOR with a resultant depressing effect on
the grangers. Money ruled fairly easy and
sterling exchange receded on the announce
ment that all the needed exchange had been
secured for the settlement of the Spanish
indemnity. Another influence on the ex-
change market was the enormous purchases
OF stocks for foreign account. which aggre-
gated about 10000 shares, only a tenth OF
which were sold on the announcement of
Mr.. Flowers death. The deposit of S., ZOO, 600
for the Spanish indemnity with a New York
bank. which was announced for Monday,
Improvement in next weeks bank statement.
The traffic returns for April compared fa-
vorabiy with recent months and with the
corresponding month IN the last four years.
of MAJ showed the smallest liabilities of any
week in six years. This was not unnaturally
accompanied BY favorable trade reports. es-
pecially in the iron and steel industries.
where higher quotations for many classes of
the output were noticeable. The market was
highly professional in stock dealings, ana
fdent buying was not lacking by large in
terests on declines.
Increased activity was noted In the weeks
bond market and a generally higher level or
prices was established for the gilt-edged is
sues. Speculative bonds, however. suffered,
moving pretty much in unison with stocks.
United States new fours advanced ":
United States tours; coupon. the threes and
tered and the old tours. coupon, Y. and old
fours. registered. q In the bid price.
The following table. prepared by L. w.
Louis. Room IL. Board of Trade. shows the
range of quotations.: