The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-30
STEEL End WIRE UNREST
1T DOMINATED THE STOCK MAR
KEYS BRRATIC MOVEMENTS.
Except I'm pouthern Pacific the Day
Closed with Small losses the Rule
Local Trade Situation.

At New York. yesterday. money on call
was steady al Ia to per cent.
Prime mercantile paper, 31k TO per cent
Sterling exchange was firm, with actual
business in bankers bills at s4S7ss for de-
mand and st-s4h for sixty days; posted
rates. s4s4l1s4S5 and sSS1a; commercial
bills. s-ssz.Git ssz-
Silver certificates were ss1kc to soc; bar
silver. Size, Mexican dollars, 4Sc. Bar
silver sold az 29t4d on the London market.
The stock market was again dominated
yesterday bs some incidental disturbance
from the er4atic fluctuations of Steel and
Wire. ihesS two stocks really made the
market. andi prices moved somewhat mar
rowly and ca small volume of transac-
tons In sympathy with them throughout
the day. Southern Pacific was a notable
exception TOT the general tendency of the
market. It !: was bought largely all day
and in the lite dealings rose u to AZ. car
rying some fother stocks. notably among
the grangerS and Pacifics. with II. But
renewed weakness In the two leaders car
ried prices. jexcept for Southern Pacific,
down again. leaving only few insignifi-
cant net gains among the larger list of
Losses. Thew was no news to account for
the movemelt I'm Southern Pacific beyond
the argument Of the spectators in the
stock that ali advance In its price was long
overdue. Mobile q Ohio made a notable
rise of SIS, accompanied by rumors of alb
sorption or control by the Illinois Central.
New York Central gained points on very
light transactions and Manhattan and
Leather showed signs of strength. Ameri-
can Express gained AZ without any ex-
planatory nsws. The opening break in st.
Paul was violent. the stock dipping Az to
15o under tPe pressure of heavy blocks
TO sell Tfie emphatic disclaimer by all
the st. Paul authorities who were quoted
CT Monday't explicit assertions that ar
engagements chad been completed for the
transfer OF control to Great Northern and
Northern Pscifc made IL clear that there
were decided objections among St. Paul
So ckholderk
In Steel Ind Wire. the low point was
made at 80. boon after the opening, and the
sleek then rtDounded 10 above Al before the
announcement was given out that the
promised ststement would be withheld I'M
I'll y. m. isstead of being published at IL.
During the afternoon the stock got as high
as ia, but closed at net loss of a. The
prevailing 3ate of mind of spectators in
the stock Was evidently one of entire un-
certainty az TO the effect the statement
would haves upon holders, and the uncer-
.tainty Is hyely TO continue, as no action
las been ttfken on the actual question of
the dividens The congested and uneven
character OF the trading Is indicated by the
fact that MS single share of such an ac-
tive stock Is Sugar was sold until well I'm
the second hour OF trading and the first
sale Of Terslessee Coal was ordered after
III O'Clock. "a considerable export OF gold
on Thursday Is assured and already 81 5OO.-
coo have bef1 bespokeE In a tentative man
ner at the assay Office, The continued firm
ness OF STIRLING exchange here and the
further fiactionai advance at Paris
strengthenet the supposition that the out
ward movesnent of gold from New York
will II diverted from Paris to Lon
con.
The railrokd bond market continued mod
erately actitre with an irregular moyemen,
OF prices s'otal sales at par value were
2.soo.UO. tnited States threes and new
fnurS advarSced "a per cent. on the last call.
.Followings are the days share sales and
the closing soi1 prices: