The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-05-04
SHARES WERE INACTIVE
ATAGNANT MARKET WAS THE FEA-
TURE IN WALL STREET.
Sugar Led in the Trading at a Lower
Price Level-Increased Activ-
fty I'm Local Trade.

At New York, yesterday. money on call
was easy at l1zd2A per cent; last loan, IL
per cent
Prime mercantile paper. 4d4ia per cent.
Sterling exchange was firmer. with ac-
tusl business In bankers bills at s4.ss1s for
demand and s4s4h for sixty days; posted
rates. s4s5d4S5lz and As9G4 s91z: CONNER
cial bills. sf.s3s4Q4s4i4-
Silver certificates were 60lsG604c; bar
silver. COO; Mexican dollars. 47lac. AT Lon
don bar silver sold up to q s-16d ounce.
The general public continues to hold
aloof from any share in business on the
Stock Exchange. and the movement of
prices reflects only the operations of the
small room traders. These professional
operators. for the most part, close up their
contracts before the day has expired. thus
rectifying 20 a large extent the price move
ment which has resulted from the original
contract. Other operators CT this class
are in the habit OF carrying their contracts
over one day. The result of these opera
fions. which are known in Stock Exchange
parlance as trading jack-knives.'' is
see-saw market, prices moving one way on
one day and the contrary on the next day
as the sales or purchases of the one day
are covered by the contrary operations on
the next. All sorts OF rumors and even
vague surmises are the whole reliance In
such market to affect the movement of
prices. Slight gains were the rule yester-
day. principally because losses were the
rule Wednesday. Stocks which from spe-
cial causes showed strength Wednesday
showed weakness yesterday. Sugar moved
mostly below Wednesdays level and was
h. load lar Of ha bat he ofaaf ctr oIrc
were inclined TO harden after Wednesdays
sharp break. the tendency being assisted
by reports OF the reopening of some OF the
ers were raided by the traders on the reso-
luton Of the anthracite operators to sup
port the proposed new coal road. The
and Hooking Valley and the settlement of
the New York Centrafs threatened trouble
with laborers encouraged the traders to
take the bull side. The failure of predicted
action yesterday on the dividend by the
Missouri Pacific directors caused sharp
break from the early price in that stock.
The local fractions recovered from Wednes-
days weakness The extreme movements
tIi either direction were not maintained,
and the closing was dull and irregular at
small net changes, after the market had
sunk near to stagnation many times dur
ing the session. The money market contin-
ued very easy. although the prospect is for
weak bank return on Saturday. The
gold exports will be taken from the reserve
those institutions from the subtreasury
has sunk to unimportant proportions. Yes
terday's statements of operations, in fact
showed gain by the subtreasury at the
expense Of the banks OF s., 931 900. But this
was due to the deposit by the banks which
exported gold yesterday to the amount of
21D.o00 In payment of the gold bars which
were taken from the assay Office, so that
the gold export figures include the loss of
the banks shown in this item. The move
ment of currency to New York from the in
terior continues. This will partly offset
the export OF gold, but the gold sent
abroad goes as loan TO foreign borrow
ers the loan item of the banks will show
q corresponding increase and will expand
the reserve requirements in proportion.
There was more doing, comparatively, in
bonds than in stocks. and prices were
weak. Total sales at par value were
$i525000 United States refunding twos,
when issued, old and new fours and fives
advanced II in the bid price.
Following are the days share sales and
the closing bid prices.