The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-05
ALL STOCKS DEPRESSED
BEARIsH TENDENCY IN THE LIST AND
DECLINES SCORED.
Ugly Rumors About Banks and Large
Brokers Unloading Stocks Have
Their Efect-Local Trade.

At New York. yesterday, money on call
was 3kQ45 per cent; last loan, 4 per cent.
Prime mercantile paper. 3i2G4A per cent.
Sterling exchange was weak, with actual
business in BANKERS bills at A.s7AG4.sTs for
demand and at AS5Ad4S15 for sixty days;
posted rates, s4.s61z and $4.S71k; commercial
bills, A.s4hq4s4z.
Silver certificates. ectk6e3c: bar silver.
61%sc: Mexican dollars, 4Sisc. At London bar
silver closed uncertain at % Sled an ounce.
Total sales of stocks were 749,0 90 shares,
including: American Spirits. $500; Ameri-
can Steel Hoop, 1850: American Steel and
Wire. 1900; American Sugar, Is. 900: Ameri-
can Tin Plate. 1900; Anaconda, Is. 200; Atchi-
son. $500; Atchison preferred, o,100; Brook
Ign Rapid Transit. 1900: Burlington e.
Quincy, $500: Chesapeake & Ohio. 5000;
Chicago Consolidated Traction, 400: Chi
cago Great Western, $500; Consolidated Gas,
$500; Continental Tobacco. 1900: Federal
Steel. p. ZOO; Federal Steel preferred. $3.50:
Glucose Sugar. 400; Louisville * Nashville.
$500; Manhattan, 49, 100; Metropolitan, $500:
National Steel. 1900; New York Central.
800; Northern Pacific, $500; Ontario &
Western, 400; Pacific Mail, 400; Pennsyl-
vania, 4.60o, Peoples Gas and Coke, IL. 200;
Reading first preferred. 1900; Reading Sec
ond preferred. 4,50; Rock Island, 1900: st.
Louis Southwestern preferred, 500; st.
Paul, IL, 800: Southern Railway. 100: South
ern Railway preferred. 200; tennessee Coal
and Iron. G.l00; Union Pacific preferred.
6,lOo; United States Rubber. $500; Western
Union. 400; Wheeling & Lake Erie. 800.
The New York stock market was weak
most of the day, then rallied, recovering
part OF the carrier loss, and left of with
an uncertain tone with net losses of SUBJ
stantial fractions prevailing. Cnfounded
rumors were rife. including stories of a
split between prominent bull interests, the
death of a Dr0minenr banker and Sfafa-
ments that banks had called loans and re-
fused further accommodations to a large
interest. Each OF these rumorS in turn was
positively denied, but not until substantial
declines in stocks had been effected. Lon
don was a liberal seller. Sugar was most
prominent in the period of depression. drop
ping over 8 points, two-thirds of which was
afterward recovered. The rest of the mar
ket followed the fluctuations in Sugar to a
minor extent. The iron and steel stocks,
local transportation shares. Anaconda and
a number of the other specialties made an
average supreme drop or about 3 points,
while there were numerous declines of about
l point. With the rally in Sugar substan-
tial recoverieS occurred elsewhere, particu-
larry in those shares which were most de-
pressed previously, and the market there
after became dull. Consolidated Gas was
we'll taken and rose over 3 points. Among
the railways Burlington, which sells ex.
rights to-day, displayed the most strength.
mental Tobacco'. tennessee Coal and Iron
and General Electric. The more prominent
net declines were in New York Central. the
| cOdlSrS, local New 1OTk traction COm-
panies. iron and steel shares and in most
of the grangers. There were many of the
opinion that heavy liquida ton for some i'm,
| portant interests occurred yesterday and
that much of the latter strength came from
the covering of shorts. An interest which
II was reported was seeking to reduce it's
lines in its specialties denied that it had
any speculative ventures just now. Com
mission house business was said to be the
smallest for some time.
Railroad bonds showed a rea%ctionary ten
dency for the greater part Of the day, but
in the late trading conspicuous strength in
Wisconsin Central firstS and support to
other speculative issues impaired a better
threes. coupon. and the new tours, coupon.
declined n, but the fives, coupon, advanced
IA in the bid price.
Louis, Room IL. Board of Trade. shows the