The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-18
HEAVY TONE TO STOCKS
UNCERTAIN MOVEMENTS THAT LED
TO DECLINE IN SHARES.
Business Not So Heavy on New York
'Change, and Bears Taking Courage
Local Trade Active.

At New York yesterday money on call
was steady at 21zG3 per cent; last loan, 2l2
Prime mercantile paper, $685. per cent.
Sterling exchange was firmer, with actual
business in bankers bills at $4S434 Q4S5 for
demand and at $4S215G4S224 for sixty days;
posted rates, $4S31s and s4.S51a; commercial
bills, $.S1Q4S11z.
Silver certificates, 591zG601ac; bar silver
597sc; Mexican dollars, 472sc. At London
bar silver closed uncertain at 279sd an ounce
The silver market has been strong for some
days on purchases for London, where they
seem rather bare of supply. 1t is assumed
that the silver is for China. Bar silver and
Mexican dollars rose sc yesterday, making
&c advance since last Tuesday.
The total sales of stocks were 746, 700
shares, including: AtchisOn, 14,120; Atchison
preferred, 1900; Central Pacific, 1900;
Chesapeake & Ohio, 5000; Burlington 21.62O;
Chicago q Eastern Illinois. Also; Louisville
& Nashville $780, Manhattan, 16 $50; Read
ing preferred, 1860; Missouri PACING, II ,145;
Missouri Kansas & Texas preferred 1000;
Northern Pacific, 1920; Northern Pacific
preferred, 1900; Reading, $500; Rock Island,
22,O0O; Union Pacific, 1900; st. Paul, $4,000;
St. Paul & Omaha, $500; Southern Pacific,
$3.50; Southern Railroad, 1875; Southern
Railroad preferred, 1880; Union Pacific pre-
ferred, 1120; Tobacco, 1880; Steel 46,525;
Steel preferred 1850; Peoples Gas, 1880;
Brooklyn Transit 1920; Pacific Mail, $40;
Sugar, $4,000; Tennessee Coal and Iron, 81
2S5; Leather preferred, "A, 755; Rubber, 1850;
81. Louis Southwest, SOL; ST. Louis South
west first preferred, SAIL; Chicago Great
Western, 7,l50.
The changes in New York stock quota
lions yesterday were unimportant. The mar
ket showed strength most of the day and
repeated efforts on the part of the bears to
depreSS prices, although assisted by sales OF
some $1,000 shares of stock for London ac
count, was of little avail and prices worked
upward generally until the last hour, when
previous gains of the day were practically
wiped out The highest prices of the day
were made about noon, the standard shares
showing handsome gains Although there
had been such large volume of sales for
London, internationals at this time were
above Monday nights close. AT the opening
the market was under pressure but the va
riationS were fractional Commission houses
had many selling orders, but after a few
minutes the demand more than equaled the
supply. Traders sold early, then bought.
and in the final dealings reversed their
position by again selling. Several OF the
largest houses were openly large buyers in
the second hour. When prices eased off in
the late dealings, commission house bus
mess diminished, the Readings were strong
on a story that the interests in the coal
trade purposed bringing about a workable
business Arrangement between the differ
ent coal companies that would conduce to
harmony in the trade. Peoples Gas and
IObdCCO were Conspicuous III Sli CliS III, do
were also some of the low-priced railway
shares and some of the minor specialties.
New York Air Brake took violent plunge
of some 1912 points, of which it recovered
only 3A. The selling was on a report that
the Westinghouse suit had been compro-
missed. The volume of trading was about
one-Quarter below the million share mark,
which had been so common of late. The
closing was weak. There was much favor
able comment on the governments foreign
trade statement showing an excess of De-
cember exports over imports of $S9, 900,
and for the year of $621 ,261, 600
The bond market displayed more ANNA
ton with strength predominant. Some of
the usually neglected bonds figured quite
largely in the trading with the resumption
of activity in St. Louis Southwestern is
sues. Total sales, So, 725O 900. United States
fives, coupon, advanced n in the bid price.
Louis, Room ii, Board of Trade, shows the
range of quotations: