The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-11-30
SUGAR is HAMMERED
WalI-Street Spectators Have a
Spite at the Trust Shares.
The Market Generally Holding Firm
Indianapolis Cereals Inactive
ard Steady.

At New York yesterday money on call
was easy at 1011k per cent. the last loan
being at IL. closing at IL per cent.
Prime mercantile paper. 31za512.
Sterling exchange was firm. with actual
business in bankers bills at &S5Aa4S6 for
demand and at $LSSHGLS3k for sixty days;
posted rates. S4.s4Q4.S714; commercial bills.
$A.s2GLS2A.
Silver certificates 694sc bid. Bar silver
closed at 69c per ounce; at London, S2d.
Total sales Of stocks were 24O, 500 shares.
Stock Exchange speculation is again set
Ting down into it's accustomed quiet and
orderly procedure. The tariff question,
while still an issue in a very important
group OF the share list, is beginning to be
regarded with a milder sort of agitation
and Wall street is endeavoring 70 accept
the inevitable with resignation. In many
quarters there is a subdued feeling of
thankfulness that the situation is no
worse. Already are there conjecturea as
To whether the tariff bill will pass in it's
present shape, and were 1t reasonably GER
tain that the Senate would accept the
measure even as it stands, the speculative
situation would be materially strengthened
by that assurance. II is the uncertainty
winch aHOFQS the W all-SlreeI JTdueTS OD-
pOrtunity to manipulate stocks and to play
on the fears of timid holders of speculative
properties. When the expected event hap
pens its effect is usually Of little force on
share values. having been discounted
long before. and in the present instance
the probability is that when the new tariff
is put in force the properties which are now
so badly shaken up by the announcement
OF it's provisions VIII be found to have
adapted themselves to the new order of
things without serious injury. At the OPEN
ing OF business yesterday a generally firm
tone prevailed, and the first quotations
made were higher than Tuesdays final
sales. but the bears began operations with
out delay, again selecting Sugar with which
to beat down values generally. Failing OF
any support from the inside, Sugar common
broke pa per cent. and the preferred 1
per cent. When the pressure to sell was
removed the common rallied IL and the
preferred Ia per cent, but the improve
ment was not lasting, and on a renewal
OF the selling movement there was a re-
action of Shc and 2 per cent, respectively,
ollowed by a recovery in the final deal
ings of Y per cent. on the common, the
preferred remaining at the bottom figures.
In the general list there was "a sympathetic
decline in the morning of kd11S per cent,
in which General Electric. Manhattan and
Chicago. Burlington & Quincy were in the
lead. the last named shares being sold on
orders from Chicago and on reports that
the November statement would be a poor
one. TIL selling on this reaction was not
very pronounced, and it was promptly
e ensSS9d ana "a partial recovery
ing up IA per cent. Lead, preferred.
developed weakness in the forenoon
and dropped IL per cent. COrdaSe dropped
i per cent. and the general list a fraction.
Some bull pointers We're given out in Chi
caSo Gas as 20 4 dividend which ii was said
would be paid in cash instead OF scrip. and
q strong huyfug movement was deVeIODed
under the influence of which an advance of
2 per cent. was recorded. when realizing
sales caused reaction OF IA per cent, = of
which was recovered at the close. During
the early part OF the afternoon a distinctly
strong tone characterized the dealing. and
prices rose wilma a range OF : per cent,
the latter for American Tobacco preferred.
After delivery hour there was evidence that
some traders were anxious TO carry smaller
lines of stocks after the holiday and that
others were taking profits. the result being
that prices receded lsGIts per cent, with
IiStilling and General Electric in the lead.
Toward the close the figures began TO move
upward again, and the final dealings were
firm in tone.
The railway and miscellaneous bond mar
ket was generally strong throughout the
day and a large business was done. The
leading dvanccs were: Chesapeake K Ohio.
X " \. division. second cOnSOlS, ,. and
Orand Rapids * Indiana a. It IS Stimated
That the total Of the assets received by the
National Cordage reorganization committee
from the unsecured creditors aggregate
about S~4,OeI,Oo1- The receivers of the Union
Pacific, having reached an agreement with
the trustees Of the Kansas Pacific CONSOLE
dated. VIII forward tomorrow 10 the United
states court az Omaha an application for
leave TO pay the November interests on the
Kansas Pacific COnSOls skies, on the Dem
Yer extension skies. Atchison & Pixies Peak
skies. Central Branch Union Pacific sevens.
and on the thres-year notes under which
DreNel, Morgan < Co. are trustees.
Government bonds We're strong. State
bonds were dull.
The following table. prepared by James F..
Berry. Room 10. Board OF Trade. shows the
rance o. nuofafinns.