The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-18
MONEY, STOCKS AND GRAIN
Reactionary Temper in Shares That Led
to More than Fractional Losses.
Sugar Preferred Alone Scored Gain, Rising
2 Sd Per Cent. at New York-At Indian
apOlis Wheat Vas Weak and Corn Dull.
THE BOND MARKET.


Railroad Issues Very Dull Though n. Y. & n.
Seconds Rose 3 Per Cent.
At New York, yesterday. money on call
was easy, ranging from liz to per cent.
the last loan being made at II per cent.
closing offered at liz per cent.
Prime mercantile paper, sls05ls per cent.
Sterlingexchange was quiet and steady at
s4s6s4 for sixty-day bills and s4.SS for de-
mand.
The total sales of stocks were 229. 792
shares. including the following: Atcbison,
1925; Chicago Gas, $50; Erie; IL sos; Man
haitian, 6,273; Missouri Pacific, 1885, North
ern Pacific preferred. $685.; Reading. 1928
st. Paul, $500; Western Union. 5.29S
The STOCK market yesterday again DIS
played o reactlonary temper, despite the
strength of the iDdustrials. and later aris-
ing from manipulation it was impossible to
continue IN the face of the general temper
of the railroad list In the general opinion
the short interest In the market has been
greatly reduced by the advance of the
previous day, and the high prices und0ubt-
eddy brought out some stock for the long
account, while selling for the short account
was not wanting. and with the very linz
tied demand declining tendency was i'm
parted tosthe market from the very OPEN
ing, in the face of the mani pulated strength
of the industrials and the few
specialtles which received such at
tention. Among the grangers Rock Island
showed most weakness In the forenoon.
but Atchison led the downward movement
later in the day. st. Paul was offered
down, but received support and recovered,
the others displaying no feature of note.
The weak spot in railroad shares was the
Wheeling and Lake Fries, each of which
retired about per cent. on very light offer
ings. but all other losses were confined to
fractional amounts. The Sugar and the
Lead stocks were the leaders among the in
dustrials. the Cordage shares being quiet
and General Electric was advanced only In
the afternoon. The upward movement IN
the Sugars and Leads was very sharp In the
early dealings, and Sugar preferred was
lifted pa per cent. while the common was
CONTENT with Is. The Leads rose Ia and
Ia, respectively. before the movement
came to q halt. The engagement of nearly
q million gold for shipment had the usual
effect of checking the animation and adj
vance, then the dropping tendency of the
general list could hardly be said TO have
been stimulated by IL, and the activity of
the brokers who usually act for the lead
ing bears was sufficient to account for
all the weakness display ed during the day.
Prices dragged along during most OF the
day, but toward the close there was an in
crease in pressure of short stocks and
special animation was developed in Read
ing. Rock Island, New England. Erie and
st. Paul, all retiring to still lower figures.
Fears of liquidation of Mr.. Bostwick's
holdings possibly exerted some influence in
bringing that stock to the front, but the
selling for the day was strictly for the
short account, and in anticipation of such
liquidation the market remained without
other feature and finally closed quiet and
weak at the lowest prices of tho
day. The losses In the last hour
brought most of the active stocks
down to a materially lower level than
that of Tuesday evening. Sugar preferred
scored a net gain of pa per cent. and stood
alone in that respect, for Cotton Oil lost
lis; burlington. is: New. England, IA:
Wheeling 81 Lake Erie preferred, rs, and
New York Central. 1 per cent. The trans
actions In listed shares reached only 49,
zoo. but Reading furnished 1925. The
trading in other stocks reached Is, GOO shares
and the unlisted department. Al, 8S7.
Railroad bonds were very dull. and while
New York IL Northern seconds scored q
rise of per cent, to 65, there was no move
ment whatever among the more prominent
issues. and all animation had seemingly
disappeared from the market. The bust
ness for the day. amounting to only $780,
600. was widely distributed, but no feature
was developed other than that mentioned.
Government bonds were dull and firm.
State bonds were dull and STEADY. Closing
quotations were:
Fonr per cent reg ! I 5asIIoufs a. Nash go