The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-22
A SLIGHT FALLING OFF
STANDARD SHARES GENERALLY
WEAKER ON CHANGE YESTERDAY.
Shorts still Further Punished in To-
Active and Prices Firm.

At New York yesterday money on call was
steady at 2021s per cent last loan. 21s per cent.
Prime mercantile paper, 2hG3A per cent.
Sterling exchange strong. with actual business
in bankers bills at %.s6AQ4.s6h for demand and
at $4S404.S4A for sixty days; posted rates, s4.s4A
94.S5 and S4.s6KQ4.S7; commercial bills, 1850
4SS15.
Silver certificates. nominal, 5SKg6OEc bar sill
yer. 5s%c; Mexican dollars, 47Ac. At London bar
silver closed quiet at 271zd an ounce.
Total sales of stocks were s41. 100 shares. in
Guiding %, 800 Atchison, 5000 Atchison preferred,
2L,32O Central Pacific, 5000 Chesapeake & Ohio,
1920 Burlington, $500 Delaware & Hudson, 1850
Denver & Rio Grande, 4.O10 Denver & Rio Grande
preferred, AGO Great Northern preferred, $500
Illinois Central, 1920 Louisville & Nashville,
1850 Manhattan, $500 Metropolitan. 42.s05 Read
ing preferred, 5000 Minneapolis & st. Louis, 10, 600
Missouri Pacific, 1910 Missouri, Kansas & Texas
preferred, 2O.665 New Jersey Central, 5,4O New
York Central, 20620 Northern Pacific, 5000 North
ern Pacific preferred, 1910 Ontario & Western,
6,s2O Reading, 9,22O Rock Island, 1900 Union
Pacific, $4,000 Union Pacific preferred, 22,6O0 St.
Paul, 1913 Southern Pacific, $40 Southern pre-
ferred, 400 Texas & Pacific, 60,62O Tobacco, 1880
Steel, 1920 Steel preferred, 6,22 Peoples Gas,
1890 Consolidated Gas, 1920 Brooklyn Transit,
1890 Pacific Mail, As, 100 Sugar, 1855 Tennessee
AOd4 anu 1IOuB 4JFJSV ASdAACA pACACAACNs ~ A@0O
Der, 4.220 st. Louis & Southwestern preferred.
AS a result of yesterdays trading on the New
York Stock Exchange the standard shares were
generally off fractions, while the coalers improved
materially, the advance in Jersey Central being
about four points. while changes in the in
dustrials are mixed. The specialties and the in
dustrials showed pronounced strength in the early
dealings, then became feverish, with alternate
displays of weakness and strength. The con-
tinental and London markets showed some firm
ness after the early dealings, partly influenced by
the Bank of Germany's reduction in its rate of dis
count. Commission-house buying was larger in
the early dealings. but. excepting the industrials,
changes were not notable. Tobacco continued it's
upward movement until a rumor was dissem-
mated that the short interest had received in
timations that a private settlement of their short
commitments could be arranged without recourse
to the open market. Tobacco on the circulation
of these reports dropped over eleven points from
its high figure of 179. ending with a net loss of a
fraction. The punishment which apparently had
been melted out to the shorts in Tobacco caused
an uneasy feeling among those with short COM
mitments in Sugar, which was reflected in cover
ing from time to time, with a resultant rise at
one time of four points, the greater part of which
was subsequently lost. The declaration. of the
regular dividend on Leather preferred lifted the
price over TWO points, most OF winch was iOSt.
Intimations that the steamship mail subsidy bill
might become a law benefited Pacific Mail III.
Consolidated Gas, Metropolitan Street-railway
and General Electric showed strength at times.
but fell off with the rest Of the market during
the proft-taking period in the afternoon. The
strength of the anthracite coalers was attrib-
utable to expectation in some quarters of an an
nouncement presently of a combination among
the companies for restricting the production and
maintenance. Great Northern preferred made an
extreme gain of S% and Third Avenue 81. The
large speculation in the industrials was in a way
responsible on this, the eve of a holiday, for some
proft-taking, during which most railways fell off
considerably, with a slight recovery in some
shares, but the market closed rather heavy. Lon
don was a moderate purchaser on balance and
the total dealings in the local New York market
were smaller than Monday. although they were
in excess of 900, 900 shares.
The demand for railway mortgages was less
urgent, but prices in the main showed consider
able hrmness. Total sales, 50, 800, 600. United
States threes advanced u in the bid price.
The following table, prepared by L. w. Louis,
Room II, Board of Trade, shows the range of
quotations: