The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-21
HAS "A WEAK UNDERTONE
SToCK MARKET INCLINED To A
SLIGHTLY LOWER LEVEL.
london a Seller I'm Wall Street-Banks
Are Gaining in Cash-Conditions
An Local Trade Circles.
At New York. yesterday. money on call

was 1Hd1H per cent.
Prime mercantile paper. 465 per cent.
Sterling exchange was steady. with ac-
tuaI business in bankers bills at s4.s7zQ
ls7% for demand and s4.sf64-s41s for sixty
lays: posted rates. &.s5G4s511 and s4.ssla@
A.S; commercial bills. s4.s3A@4s3A.
Bar silver was 61Kc; silver certificates.
611zas2lsc; Mexican dollars, 4S12c.
At London. silver bars sold at IS 3-16d an
ounce.
There was no radical change yesterday.
jn the character of recent stock market
operations. General news bearing on the
situation was scant. but that furnished was
ammunition for the bears. London, which
latterly has been a buyer. turned seller for
a small amount and Western offerings were
effective in special STOCKS. General weak
ness was shown in stocks with which the
firm of Flower & Co. is identified, follow
ing the announcement of the death of a
member of the firm. These include a half
dozen most active issues. and losses ranged
from ! to 2 points. with Brooklyn Transit
and Peoples Gas leading. Elsewhere. sell
ing was in moderate volume. but some
rather pronounced declines occurred in
Sugar, Tobacco, Consolidated Gas and
Metropolitan Street-railway. Railroad
stocks were much better sustained than the
specialties. declines extending TO a point
only I'm st. Paul and Rock Island. While
the general tone, throughout the greater
part OF the day, was reactionary, there
were periods of steadiness when the shorts
reduced their lines. Some comment was
aroused by the sudden marking up of Gen.
eral Electric TO 140A. It's closing price on
Saturday was 136. Reports OF a combina-
ton with a rival concern and excellent
earnings were circulated. of which there
was no Fluctuations in the
steel group were comparatively narrow,
but early losses were gradually recovered
in the late afternoon on reports of i'm
proved trade conditions. A matter of in
terest in connection with the international
monetary situation was the decline in
money in London TO 25 per cent. This cir
cumstance was attributed TO receipts of
gold by the Bank of England, amounting
to e4,670,000 This amount included the 49,
$4,000 gold exported from here on Satur-
day week. The subtreasury statement for
the day showed that IL was debtor at the
clearing house TO the unusual amount of
$4,000. Payments by the government on
account OF the redemption of the old 2 per
cent. bonds, for Saturday and yesterday,
amount to 50. 732.019. At this rate of re-
Punishment the banks will speedily recover
the decrease I'm surplus reserves effected by
last weeks gold shipments. In the last
half hour Of trading. Peoples Gas and
Brooklyn Transit were bid up over a point
from the lowest. which exerted a stimulat-
fng effect on the entire list The closing
was steady, with a rally in progress.
Bonds showed irregularity. but changes
were very small. Total sales. at par value,
were 1855, 900. United States new tours ad-
vanced &c I'm the bid price.
Following are the days share sales and
the closing bid quotations.: