The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-07
STOCK PRICES WOBBLY
QUOTATIONS FLUCTUATED WITH Ev-
cry CONFLICTING RUMOR.
Marked Losses Were Recovered in
Most Shares Before the ClOse-LO-
cal Markets Less Active.

At New York yesterday money on call
was steady at 212q3 per cent. last loan, 212
per cent.
Prime mercantile paper, 2AG34 per cent.
Sterling exchange was steady with actual
business in bankers bills at #.S5AQ4S512 for
demand, and at $4.SSA@4.S314 for sixty days;
posted rates, $4.8404.8415 and $4.86Q4S6l2;
commercial bills, $4.S21404.s3.
Silver certificates, 591506O1ac; bar silver,
$3.50; Mexican dollars, 47c. At London bar
silver closed quiet at 272sd an ounce.
Total sales of stocks to-day were 726,100
shares, including II, 200 Atchison, 51,520 At
Gibson preferred, $3.50 Canada Southern. 1910
Central Pacific, $3.50 c. & o., 1920 Burling-
ton, 4,500 c., c., C. & St. L., $500 Denver &
Rio Grande, 4,169 Lake Erie & Western pre-
ferrred, 10,SSO L.. & N, 1920 Manhattan, 12,-
S35 Metropolitan, $50 Reading, 1920 Missouri
Pacific, 3,720 NJ, K. e. II. preferred, 20,O25
New York Central, 2S,120 Northern Pacific,
$500 Northern Pacific preferred, 1920 Rock
Island, 1890 Union Pacific, 1890 st. Paul,
10,660 Southern Pacific, $685. Southern, $50
Southern preferred, $500 Texas Pacific, a.
$50 Union Pacific preferred, 1920 Tobacco,
80, 400 Steel, 1890 Steel preferred, 11,620 Peo-
pies Gas, q, 200 Consolidated Gas, $3.50 Cen
eral Electric, 1920 Brooklyn Transit, 1880
Pacific Mail, 2O,S2O Sugar, 1900 Tennessee
Coal and Iron, 12,240 St. l.. & S. w, 1920
st. L. & S. w. preferred, $500 Chicago Great
Western.
New York stock prices were extremely
variable Monday, but ended with only frac-
tional changes, the majority of which was
upward. Many conflicting reports reached
the street as to the probability of confrma-
ton or rejection of the Spain peace treaty,
and these were instrumental in swaying val
ues. The first effect of the uprising at Manila
was disturbing. Stocks opened be4OW London
parity, and there were soon material de-
cllleS In a number of cases. Lake Erie IL
Western preferred dipped 3%, Southern Pa
cilc 3$s ana numerous other snares to the
extent of a point or more. Tobacco ran off
re and later extended its decline TO over six
points on the announcement that a rival
company had absorbed an important indie
pendent concern. London solo about 1890
shares of stock. Traders bought on the de-
cline and prices improved. Although deal
ings were much contracted compared with
recent averages, prices rose above Satur-
days closing. A number of high-priced
stocks. including New York Central and
Pennsylvania. together with the local trac-
ton and gas stocks, were conspicuous in the
recovery, as were Pacific Mail and Chicago
Great Western preferred. Prices again
fell off presently, stop loss orders were
reached in some cases and commission
houses sold freely. Twin City Rapid Transit
dropped four, while Sugar. Lead, Peoples
Gas, Federal Steel and Omaha sagged to the
lowest. Houses with Washington connection
were watched narrowly with a view of get
ting some intimation by their dealings as to
the treaty's chances, but no decided ten
dency one way or the other could be de-
tected. Toward midday the market again
worked upward with minor periods of de-
preston, but gradually top figures were gen
orally reached. The impression prevailed in
some quarters that the outburst of the Fill
pinos assured the treaty ratification and on
the theory that the settlement of the uncer-
ainty would be beneficial. there was buying
of stocks. On the other hand, many desired
to reduce their commitment over night as a
precautionary measure and these ~contending
interests gave the market it's appearance of
great irregularity. The feverishness which
prevailed in the early dealings in a measure
gradually disappeared as the day wore on
and the middle and low-priced stocks SYM
pathiZed with the advancing endency of
gilt-edged stocks. In the final dealings there
were slight recessions from the best prices.
The bond market showed marked heaviness
in the early transactions, but later improved
in spots, closing irregular. Total sales were
$4, 5000 United States old tours, coupon,
advanced u, and tours registered and the
fives Il in the bid price.
The following table. prepared by l.. w.
Louis. Room II, Board of Trade, shows the
range Of uuOtatiOnS.