The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-02-15
LOSSES RECORDED
A NUMBER OF sPECIALTIES SUI
FERED FROM VARYING CAUSES.
Bear Raid Followed Some Unfavor-
dicapped, But shows Up Well.

At New York. yesterday. money on call
was steady at 2q21k per cent: last loan.
az per cent.
Prime mercantile paper, 4a5 per cent.
Sterling exchange was steady, with
actual business in bankers bill at s4.S71k6
4.s7z for demand and A.s4A@4s41z for sixty
days; posted rates, Sass and $4.Ss1z; COM
mercial bills. s.S3G4s31k.
Silver certificates. 59A961c; bar silver,
$3.50; Mexican dollars. 471zc. Bar silver at
London was steady at q 9-16d per ounce.
The New York stock market showed a
continuance of Tuesdays strength yester-
DAY in the early dealings, but the buying
demand came almost altogether from pro-
fessional sources with the purpose Of in
wiling outside demand The outside de-
maad failed to materialize, business from
the commission houses continuing on a
small scale. In fact. selling orders to some
extent came on the market from commits
sion houses which were attributed to West
ern account, but which were without ex-
PLANTATION. The professional buyers grew
tired and sold TO realize when the futility
of the efforts to attract outside buying
orders was perceived. Several points of
positive weakness were developed by ine
SColCliAS tuJIlS VI the pears, anu STOP
loss orders were uncovered by offering
prices down. The result was a general
reactionary tendency. which wiped out
practically all of the earlier gain and es-
tablished some sharp losses in special
stocks Shorts covered before the close.
causing sharp rallies in the weak stocks
and a general stiffening of the whole
market. as a result of which the close was
frm and net changes in the majority Of
GrnnDa .>.nll III -
and the industrials were the leaders in the
opening advance. Sugar, Tobacco, Western
Union, Peoples Gas. Pressed Steel, Rubber
preferred and some of the iron and steel
i to ~, and Tennessee Coal was up 3s on
rumors of a plan to retire the preferred
stock and begin dividends on the common
stock. continued heavy buying was In evil
dence In Pennsylvania, Baltimore & Ohio,
St Paul. Missouri Pacific and other stocks.
those named rising a point. Buying of
some of these was attributed to operations
by speculative pools The first point of
weakness 10 GeVelop was Third-avenue on
the announcement of a dividend OF only I
per cent. as compared with IL for the last
quarter OF 1893 and Ia fer the preceding
year. The stock fell an extreme AZ and
caused sympathetic weakness in the other
,ocai traction stocks. Metropolitan West
Side preferred. of Chicago. jumped ST.
points N the declaration of its first divi-
dend. Tie demand for stocks was ~listless
for the rest OF the day and the bears made
successive attacks on inherent stocks. Rub
Der. common and. preferred, lost Az and 44
Joints. respectively Continental Tobacco
was raided down 3 points on rumors OF a
homo issue. and American Tobacco lost it's
earlier gain in sympathy. Sugar, fell pa
from the top, Federal Steel Ia. Pacific
Ma IL and Baltimore & Ohio 1%. ,rhe
news of the day was mostly favorable and
The reaction was apparently due to tech
nical causes. Traders were inclined to take
profits on the pending passage by the Sem
ate OF the financial bill, which Is taken for
granted. and which has been the basis of
some speculation on account of its pro-
visions for expanding the currency. Money
on call continued offering in abundant sup
ply, so that spectators were not made an
Easy by the evidences of absorption of
cash by the subtreasury and a continuing
demand from the interior. The further
rise in the Londcn discount rate caused a
firm tone TO sterling exchange, but no
quotable change In price.
The bond market was moderately active
and irregular. Tota; sales at par value
were S.705.00o. United States old tours ad-
yanced y In the bid price.
Following are the days share sales and
the closing bid prices: