The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-11
SUGAR TRUST SCHEME
Annual Statement Held Back So
as to Conceal the Profits.
Wall Street Business Light. Dull ard
Followed with Depresslon-Indian-
apOlis Grain Market Firmer.

At New York, yesterday money on call
was easy at l per cent, the last loan be-
ing at 1. closing offered at 1 per cent.
Prime mercantile paper. 31z6512 per cent.
Sterling exchange very firm, with
\ actual business in bankers bills at $4.S6G
ASS for demand and $4S41kd4S5 for sixty
days; posted rates. s4.S6q4SS; commercial
bills, AS3$tG4S4
Silver certificates. $3.50. Bar silver closed
at 69c per ounce.
Total sales of stocks yesterday amounted
to 146.50O shares. The volume of business
on the Stock Exchange was lighter, even
than on Tuesday, and accompanying the
dullness was marked depression which ex-
cept during one or two brief intervals, when
slight rallies took place, prevailed through
out the day Sugar most prominent
in the dealings. and furnished nearly a
third Of the total transactions. In the
early dealings the common stock rose "
per cent. on purchases induced by Washing
ton reports favorable to an increased tariff
on sugar, and also by the Improvement in
the trade. But the Improvement was short
lived the failure of majority of the stocks
TO be reported at the annual meeting hav
ing depressing effect on the shares and
sending the common down 3ss and the
preferred IA. In the late dealings the
covering IS at the close. Various theories
were offered to explain the fact that
quorum of the stock was not hand at
the meeting. II was suggested that the
reason was the large increase in the num-
Der of stockholders and the wide dis
IribuTiOn OF the shares throughout the
country. it was more difficult than usual to
get IN the proxies, and this led to q rumor
that the large stockholders had been quiet
" getting rid Of their shares, contln-
S which the traders on tne hex G fg
value of the property. IL was more gener-
ally believed, however. that the manage
that a quorum should not appear, being
DESTROYS that the figures OF the annual
This time. and become available to the
tariff makers, with the prospect ahead or
their being used against the company In
its fight for reduction in the sugar sched-
uIe and for an increase in the figures or
the Wilson bill. This is the more probable
theory and If il be correct, it is an argu-
ment in favor of an appreciation in the
shares rather than a bear point:
The usual semi-annual dividend on e, Z.
q &, ST l.. preferred during December not
having beeen declared has been a subject
of discussion for some days past and mas
led TO sales of the shares mainly or the
common, which were unusually large, caus-
ing a drop of rs; the preferred on sale or
100 shares dropped per cent TO 81 ..
Paul was sold in good-SiZed blocks on the
belief that the earnings OF the road for the
first week in December would show a Serl-
Gus increase. London was also In the mar
II
of the stock did not exceed q per cent, and
when the figures were published, showing
smaller loss than was expected, there was
some buying, but the last sale was at a re-
covery of only u per cent from the lowest.
A drive was made on Burlington 4 Quincy
on reports that the next dividend TO be de-
clared in February would be at a reduced
rate and ii was offered at rs without II is
said any takers General Electric was In
good demand during the morning and re-
corded an advance OF IA per cent, but re-
coded with the rest of the market during the
AFTERNOON The general market made
slight rally in the final dealings and closed
fairly firm, but at a decline on the day OF
Lff2 Per cent. .
The bond market was firm, but dull in the
morning but became weak In the early art
ernoon. closing fairly firm, the principal
changes being: Advances Chicago, Bur
lington & Quincy convertibles, Peoria, De
.oafur a Evansville seconds and Cleve.and u
Canton firsts, each 2. Declines-Loulsy1l a
Nashville and Toledo, ST. Louis q Kansas
City firsts each l.
Government bonds were strong. State
bonds We're dull
The following table. prepared by James =.
Berry Room 10. Board or Trade. shows tha
range OF quota tons: