Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-03-02
SUGAR WAS A MARK
Al the Excitement Centered
About THIS Stock.
NORTHERN PACIFIC IS ACTIVE
shorts Made the Buying Brisk in the
Morning But Prioe- Dropped
al the Close
NORTHERN PACIFIC IS ACTIVE

Nrx YokK. March l. Money on call
has bsen firm. ranging from "a % 7
Der cent: iast loan al and closing o.
ferc.i al >.
Sterling exchange has been quiet ard
easier. With actual business ia bankers
balls AZ 4 ~. for sixty days and ASIA
for demand
Posted rates. isGis 10 fssi<
Government bonds dull aud steady.
Operations in the stock market today
Tor outside account seems % have been
reduced 20 the lowest eth and trade had
decidedly professional appearance.
The market showed great strength in
tho forenoon. but the buying was en-
tireiy for short account. and when this
SACKED away the bears took bold of the
list and the early advances In many
siantial losses were established. and
great irregularity was shown at the
close.
The buying az the opening was very
urgent. especially in sugar aud North
ern Pacific preferred. An impression
that considerable surplus viii remain
after the paymentof per cent on sugar
for the next dividend has been carefully
cultivated. and as the charter compels
such distribution. the hope still re
mains. in some quarters. thar an extra
dividend must follow. The shorts
bought heavily and the stock was adj
vanced from l.24i 10 l6ss. but. as in
other stocks. full supply was found at
the top figures. and brokers who had
been instrumental in turning the mar
ket the other way became heavy sellers.
and were followed up by the traders.
with the result II uncoyeriug many stop
orders. and sugar was beaten down to
l2lhs. \ slight rally followed. but it
closed with loss 81 Is per cent.
favorable interpretation Wa put upon
the answer 81 This Northern Pacific manage
iucnf "a the r. port Of the stockholders COM
inli'cs. and Northern Pacific preferred was
bought freely ~ the iors noon. until at LES
II showed a MT gain OF pes cent. IL re-
sisted the late DECLINE better than most
stos-ss GA the list. and rallied in the late
dealings with more force, finally closing at a
net gam % l : Pc cent.
There was notniu. specially new In Read
ing aftair-. and IL took position second Ia
sugar IN the market. bat was advanced To
=. from which II vas driven down 10 -.
The weak spots ia the list were found
among the industrial-. bat tordal,e was the
most prominent example. In broke Ter
cent in the early dealings. but rallied 10
about it. opening price, after which II vas
again beaten down nearly ) per cent. rally
ing , per cent toward the Close when il
still showed lotS Of -. Ter cent. Distil-
icrs uas specially strong in the carly deal
iug-. rising =. bat II dropped away > Per
CENT and finally closed with small los.
TIE railroad list, as a rule. showed large
fractional advances during the forenoon.
and Omaha AZ one time was up Is. hut
fhcss gains were generally wiped out and the
final changes were small and irregular.
Railroad bonds were moderately active
and displayed firm temper. Erie seconds
again rose above par. and the strong ina
rIoycment IN Northern Pacific fives carried
them cp ? Per cent 10 20 i, half Of which was
afterwards lost.
Pacific railroad bonds closed "a follows:
Union fr-t=. Los bid: do. sinking funds. l.0i
bii Ccufrils. Ca bid.
The sales Of listed stocks to-day aggregated
80 oo5 shares, and of unlisted stock 10. 100
rfare-.