The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-24
PRICES OFFERED DOWN
BEARS. SUCCESSFULLY RAID THE
NEW YORK SHARE MARKET.
Early Bulge More Than Wiped Ont,
Stocks Closing al the Lowest
Local Trade situation.

At New York, yesterday, money on call
was steady at 2d41k per cent; last loan. 3
per cent; ruling rate, Az per cent.
Prime mercantile paper. 4q41z per cent.
Sterling exchange was firm at a decline.
with actual business in bankers bills at
sI.sShQ4SSA for demand and sf.s5q4s5b for
sixty days; posted rates, s4.S51q4.S6 and
$50; commercial bills. s4.S4Aq4.S4A.
Silver certificates were nominslly at Coo;
bar silver, 6O5sc; Mexican dollars. 4Siec.
siiver bars closed at Esd an ounce in Lon
den.
Tuesdays stock market presented even
more variety than that of Monday al
though the high record of transactions es-
tablished on Monday was not disturbed
by yesterdays business. In fact, 1t was
not until the urgent selling movement OF
the last hour had gained full Roadway that
the market presented anything like the
animation which characterized it on Mon
day. Speculative sentiment ran over pretty
much the whole gamut of emotions, from
that buoyant citation during the morning
to something like collapse In the afternoon.
Although the market closed at net de-
clines throughout, extending in some cases
to three or four points or even more, there
was u time during the morning when the
level Of prices was materially higher than
on Monday. and the market had the APP
p~earance of a full resumption of the bull
speculation. The high-priced railroad stocks
continued TO be the principal subject in the
speculation, especially st. Paul, Union
Pacific and Southern Pacific. Atchison
preferred had a strong upward movement,
and there We're points OF strength among
the Southwesterns Burlington and North
ern Pacific We're strong and held better
than the average of stocks in the late
break. Among the specialties Amalga-
mated copper recovered quite vigorously
from Mondays depression, and United
states Steel stocks made a show of
strength for the first time i'm several DAYS.
These were the principal centers of the
early strength in the market, but their in
nuence was radiated pretty generally
through the list. The announcement over
night OF an engagement OF 81, 100000 in gold
for export seemed TO have little effect on
sentiment, and reports were set aloat that
large blocks of government bonds were
held ready 10 offer for redemption, which
would provide gold for any export demand
without affecting the money market. The
success OF the bulls In getting prices up
was offset by the very heavy offerings to
realize, attracted by the advance. This whs
especially so I'm the United States Steel
stocks. owing TO the suspicion prevalent in
Wall street that heavy liquidation Is going
on in these stocks on the part of the for
mer large interests I'm the Individual COM
panies absorbed by the combination, and
who are retiring. Bear selling also be-
came very bold and extensive when the
futility of the bull efforts TO sustain the
market began to be seen. The closing was
weak at the lowest. and showed such vio-
lent declines from the top level as 5s In
Sugar. 44 In st. Paul, IA in Brooklyn Tran
sit. In Consolidated Gas. AZ in Rock
Island and from l TO over 3 points In a long
list of important stocks.
The bond market was active and irregu-
lar. Total sales. at par value. were 1890
coo. United States threes. coupon, declined
IA per cent on the last call.
Following are the days share sales and
the closing bid prices: