The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-11
LOWER RANGE OF PRICES
ALSO A SMALLER VOLUME OF TRAD
ING IN SECURITIES.
Bears, However, Were Too Timid ia
Press Their Advantage-Business
i'm Good Form in the City.

At New York yesterday money on call
pa per cent.
Prime mercantile paper, fzq5 per cent
Sterling exchange was firm, with actual
business in bankers bills at s4.S7 for de-
mand and aS3B for sixty days; posted
rates, S-sshqLs4 and $4.s71z94ss;1 CONNER
cial bills. A.s2AQ4S2A-
Silver certificates were 6415q65c; bar sill
yer. 63Ac: Mexican dollars, 1910. Bar sill
yer at London was 293sd an ounce.
There was a decided further falling off
OF activity of the trading in stocks yester-
day and prices fell back very generally
throughout the list. There were abortive
efforts to continue the advance, both at the
opening and at different times during the
day, but the market did not at any time
show any decided strength. The most that
the bulls were able to achieve was 10 check
the reactionary tendency. The pressure TO
sell was much relaxed during the LAGER
part OF the day, and the demand to cover
from the shorts lifted the level of prices
considerably above the lowest. The squirt
In Louisville just at the close, on the in
crease in the dividend rate, helped the
market somewhat, although there was no
general response The close was, In fact,
decidedly unsettled and irregular and az a
substantially lower level of prices. The
first movement of the bulls was in the
Southwesterns and some of the speciaIties,
Including Texas K Pacific, Union Pacific,
Southern Pacific, Delaware * Hudson, Peo-
pies Gas and Western Union. The last
named stock was the only one Of the group
TO show sustained strength. with an ex-
IRENE advance of nearly 3 points. Missouri
Pacific was marked up one time to 81, hut
fell back below So in the sharpest reaction
OF the day. Still later there was a
movement In the tobacco stocks, which car
ried Continental and American Tobacco up
Electric s1s. But the general disposition to
realize profits and the rather aggressive
mood OF the bears frustrated all the at
tempts TO advance the market. The rather
violent break In st. Paul of 4a points at the
opening had a decidedly disturbing effect
on speculative sentiment and some OF ghe
other stocks which have been the subject
of the most persistent stories of inclusion
in vast new consultations were also quite
acutely affected. The extreme decline In
st. Paul was 81 and IL reached from to
3 in practically every stock in the list. The
Fries. the Readings, the grangers, the Pa
cities and Pennsylvania We're most affected.
Rubber preferred broke ~ points, Pressed
Steel Car IA, and the preferred 6 The
bears were timid, however. about pressing
their advantage. After the first drop in
prices and the dislodgement Of the weaker
speculative accounts. there was a decisive
falling OF in the pressure of LIQUIDATION,
which added much TO the timidity OF the
bears The rally extended to pa in st.
Paul. 2s in Erie first preferred, ga I'm
Delaware * Hudson and / and ~ points
In quite a number of stocks. The marked
feature in trading after the heavy selling
ceased was the dullness and the sluggish
movement OF prices
Prices OF bonds moved ~irregularly In
sympathy with stocks. Total sales, at par
value were S,40O,00O. United States re-
funding twos advanced Il in the last call.
Following are the days share sales and
the closing bid prices: