The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-25
WANTED THEIR PROFITS
WALL STREET TRADERS MADE M
MENsE OFFERINGS OF SHARES.
Result Was Strong Reactionary
Money Rate Is Decidedly Harder.

At New York. yesterday. money on call
was firm at 6qs per cent; last loan. per
cent
Prime mercantile paper. 5a5h per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4S6Aq46 for
demand and As2ssa4s3 for sixty days;
posted rates, s4.s41z and SISSY; commercial
bills. $s2.
Silver certificates. 5s14d5sc; bar silver.
577sc: Mexican dollars, 471sc. Bar silver at
London was firm at rs 11-1sd per ounce.
Wall-street trading was distinctly .reac-
tionary yesterday in spite of some strong
spots Profit taking was on. a very large
scale. Sales on this account were quite
well absorbed and created no sign of de-
moralization in prices. When the fact of
profit taking became obvious some of the
room traders turned bears and sold the mar
ket moderately. The bear faction was not
aggressive. however. and made no great
threads upon prices. Neither were the bulls
DESTROYS TO resume their campaign for an
advance after having taken their profits,
and the markets were inclined TO drag dur
ing the latter part Of the day. Some at
tempt was md,ie to infuse strength into
the market in the last hour by bidding up
Union Pacific and Baltimore & Ohio pre-
ferred Business induced some slight COW
ering by shorts, but so far as general
resumption OF the advance was concerned
the attempt was abortive. Prices were very
unsteady at the close. and in many cases
were pursuing a downward course. The
active realizing in the first hour was much
helped by a notable accession of outside
demand. which was attracted by yesterdays
sharp rise following a week of stubborn
resistance TO all attempts at driving prices
downward. The demand and continued
manipulation by a section of the bull party
served to wipe out pretty generally the
opening decline and bring the market back
to- about Monday nights level. Having
reached that point, the downward course
began, ard. with the exception of some
irregular fluctuations. the market continued
heavy below Monday nights level for the
rest of the day Special points Of weakness
In the early dealings were Sugar. American
Tobacco. Mating preferred, Anaconda,
Pullman and Brooklyn Transit. Aggressive
strength shown all day by United
States Leather; which was taken In en aSa
The closing was a point below that. New
York Central after small fractional ad-
vance met very heavy offerings on the an
nOuncement of an additional stock issue Of
$15Oo0.00o. The stock moved somewhat
irreguiarly during the day within range
below Monday nights level The London
market reflected some depression upon this
market and the undertone there was dis
tinctly weak on the uneasiness regarding
the British troops In Natal The sugges-
ton Of the chancellor OF the exchequer that
tax on the South african mines might
be looked for 10 help detray the expense
of the war was apparently not relished by
the spectators IN the mine market. Lon
4 don sales In this market were upwards OF
30 900 shares. The general weakness OF cop
per mine shares had a depressing influence
on speculation The weakness of Anaconda
on the exchange was supplemented by a
break in Amalgamated Copper in the out
side market aud by weakness in Boston:
The hardening tendency OF money was a
discouraging factor for the bulls. Most OF
the days call loans were made above per
cent. and the rate rose to per cent. late
In the day. Bankers generally asked per
cent for time loans and were disinclined
10 put out their funds Tor long periods.
Rather less money was shipped TO the In
terror yesterday but the outgo. while
diminished. stin continues The subtreas-
ury is also absorbing funds.
Realizing was in evidence in some parts
of rhe bond market. making the price
changes mixed. Total sales, par value,
were 81 $4,000 United States old tours ad-
vanced y and new tours and fives IS in the
bid price -
Following are the days share sales, with
the closing bid prices: