The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-03
NET CHANGES ARE MIXED
IRREGULAR AND VIOLENT FLUCTUA-
TIONs IN WALL STREET.
Severe Break in Sugar, Rubber and
the New York Observation-Disclosures
Strong-very Good Local Trade.
At New York yesterday money call was Arm
at 4lkGll0 per cent. last loan. per cent.

At New York yesterday money on call was arm
at fkG}1O per cent; last loan, per cent.
Prime mercantile paper. 4%G5z per cent
Sterling exchange strong, with actual
business in bankers bills at siS5&q4S57s for de-
mand and aa4Q4a7s for sixty days; posted
hills. $4slaLsllz.
silver certificates were e4iAG65c: bar silver.
SIC; Mexican dollars, soc. Silver bars sold at
% 9-Isd an ounce on the London market.
Yesterdays New York Stock Exchange opened
with an upward rush OF prices and closed with
something very like a slump. and with the list IN
a very ragged condition in the matter OF net
changes The professional bear traders, who had
watched the market for days to detect the ex-
pected turning point towards reaction. fell
the market with vigor and enthusiasm. But the
professional bear operators have made many
mistakes in the last few weeks. and opinion is
greatly divided TO whether their time has
come. Certainly the market yesterday showed
no astonishingly large demand for stocks and In
the early dealings the supply was sufficiently
limited to cause a volatile upward squirt of
prices in a number OF securities The general
level of the market was, in fact, lifted con-
siderably as to offer very attractive profits even
on a days turn, and considerable volume of
the selling was undoubtedly due to profit taking.
The fealizing well absorbed. If regarded
from the standpoint of buyers on Monday. but
the relapse from the high prices. at which there
was a considerable volume OF purchases, makes
disappointing results for those who got in at the
high level The market must be considered also
In connection with the positive elements Of
weakness which developed. The violent break on
Sugar a decidedly disturbing influence. and
had more effect than similar breaks have had in
the past. The stock was pushed up 1Ql4 on the
report that the advance in package coffee a
forerunner OF a settlement OF the sugar
d ffucr for hold ofG
certificates received a rude shock from the
nouncement which quickly followed OF a cut in
the price OF granulated sugar by the American
panies. bringing the prices OF all to the same
basis. AS the American company has been hold
ing It's price above that Of the other companies
the bringing Of prices to the basis is al
legged to be equivalent to a settlement. But this
Gid not avail to save sugar from drop OF ia
points 10 40. with the close only slightly better
The New York public utilities suffered from the
remarks of the new Governor on the subject OF
taxation OF corporations and franchises. and the
rubber stocks violently reacted from a buoyant
early rise. Coming on top OF the general move
ment to realize. the effect on the general market
ried down between and two points The
most important stocks in the early rise were,
however, comparatively nrm, and handsome net
gains were conserved for st. Paul. Pennsylvania
Baltimore & Ohio, Union Pacific. the Fries and
Readings These stocks were the msinstays OF
enormous scale. showing concIusively the con-
tinued activity OF powerful speculative forces.
OF dividends and interests they were not much
IN evidence. A feature OF the day was the
strength OF sterling exchange. and this is be-
notwithstanding that foreign rates relaxed APP
probably with the January disbursements
Business in bonds was very large and widely
Total sales. par vaEic s5.f55.000. United States
nves declined J. per cent on the last call
Following are the days share sales and the
closing bid prices.