The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-09
SALES OVER A MILLION
STOCK MARKET ACTIVE, WITH THE
BEARS IN FULL CONTROL.
Both specialties and Railway shares
Hammered Lower than for Weeks
Local Trade Active.

AT New YORK, yesterday, money on cail
was steady at 2lsQ4la; last loan, SAs per
cent.
Prime mercantile paper. 3A@4h per cent.
Sterling exchange was steady. with actual
business in bankers bills at $.s7AG4S7ls for
demand and at $4.siA@4.s4h for sixty days;
posted rates. s4.S6hs and s4SSl5; commercial
bills, A.&kQ4.5.
Silver certificates. 61GS2c; bar silver, 61ssc;
Mexican dollars, 4sc. AT London bar silver
closed uncertain at 2s 3-l6d an ounce.
The total sales of stocks Monday were
1.0O5, 54 shares, including: American Smelt-
ing, 400; American Steel and Wire, $4,000;
American Steel and Wire preferred, 1000;
American Sugar Refining, 400; American
Tin Plate, S,40o; Anaconda. p, 300; Atchison,
5000; Atchison preferred, $1,000; Baltimore
& Ohio Southwestern, 5000; Brooklyn RAPID
Transit. 1s5, 700; Central Pacific, 400; Chesa-
peake & Ohio, 1900; Chicago, Burlington &
Quincy rights, 500; Chicago, Burlington &
Quincy rights preferred, 200; Chicago Con-
solidated Traction, 2,7cO; Cleveland. Cincin-
natl, Chicago & st. Louis, 400; Colorado
Fuel and Iron. 5000; Consolidated Gas. $500;
Continental Tobacco, 1900; Continental To-
bacco preferred, 1900; Denver & Rio Grande,
300; Denver & Rio Grande preferred. 1900;
Federal Steel, SO, 400; Federal Steel pre-
ferred, 1850; International Paper, $500;
Louisville & Nashville. 400; Manhattan
Consolidated. $1,000; Mexican Central, 300;
Missouri Pacific. 1920; National Steel, H.
500; National Steel preferred. 5000; New
York Central, $500; North American Cop
per, 400; Northern Pacific, 1850; Northern
Pacific preferred, 1900; Ontario d Western,
100: Pacific Mail, 1880; Pennsylvania, So
400; Peoples Gas, $4,000; Reading first pre-
ferred. q. 100; Reading second preferred,
$500; Rock Island, 1880; St. Louis South
western preferred, 7,GO; st. Paul, 34.s0o;
Southern Pacific, 5000; Southern Railway,
5000: Southern Railway preferred, 5000;
Tennessee Coal and Iron, $500; Texas Pa
cific. $500; Union Pacific. II, 7Oo; Texas Pa
cifc preferred, E,5O; United States Leath-
er preferred. IA, 4s0; United States Rubber,
$3.50; Wabash preferred, 5000; Western
Union. 1900.
Liquidation was quite general in the New
York stock market yesterday and material
declines prevailed. There was no news of
any Importance, and disappointment at the
bad showing Of the bank statement on Sat-
Sterling exchange was about steady and
money decidedly easier. Such rallies as
took place were feeble. and In each instance
brought out further sales, leaving the mar
ket at the end weak at about the lowest
for the railways. although some of the
sRecialties In ;ne late selling movement re-
tanned part of the advantage derived on an
afternoon rally. Arbitrage brokers pur-
chased some 5000 shares during the fore
moons weakness. The market continued
forced liquidation of marginal accounts by
commission houses. Some important inter-
ests let go stocks on the assumption that
rather large responsibilities have been
taken by certain underwriting syndicates.
The talk Of the formation of a new steel
trust" with a tremendous capitalization
caused uneasiness In some quarters, result
ing in declines Of over 3 points in Federal
Steel shares and over 2 in American Steel
and Wire. The Flower stocks were sold for
both Western and local New York account,
Brooklyn Transit losing 81, Peoples Gas 81.
and Atchison. preferred "a. The tenor OF
grangers receded smartly, Burlington losing
over 2 points and st. Paul and Northwest
about half as much. Among the coalers
Delaware d Hudson and Jersey Central
were down over a point each. New York
Central suffered a loss of "a in connection
with its unfavorable showing for April com.
pared with last year, although this is part
ly explainable by the earlier date at which
navigation opened last year. Other weak
spots In the railways were Baltimore &
Ohio. Pennsylvania, Union Pacific, c.. c.
c.. & ST. l., Northern Pacific and Missouri
Pacific. Sugar and Lead were among the
heavy. indtstrials. Amalgamated Copper
sagged on the curb. which caused Anaconda
mining to be without support. Genera
Electric. which rose over a point, was the
conspicuous exception.
against the treasury in a New York bank
which is managing the transfer Of the Span.
ish indemnity. was taken to be the cause OF
the easier tone in money, as this operation
had not been expected until later this week
Some sharp declines were effected in
active bonds. but the higher grade issues
only receded moderately. Total sales, 81.
10000. United States new tours, registered
and the old fours. coupon. advanced 4 and
the new fours, coupon, the fives and the
threes u in the bid price. :
The following table, prepared by /. w
Louis, Room II, Board of Trade, shows the