The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-06-07
CLAM0R FOR SUGAR
GENERAL DEMAND FOR TRUST
STOCK SENT THE PRICE UP.
The Clique Fed Out Long stuff and
Melted Good Profits-Local Grain
More Active and Higher

At New York. yesterday, money on call
was easy at 1 per cent.
Prime mercantile paper, 3q4la per cent.
Sterling exchange was dull and steady,
Will actual business in bankers bills at
$4.SSA for demand and at A.S71s for sixty
days; posted rates, A.SS1&Q4.90; commercial
bills, A.S61k.
Silver certificates. s4G65c. Bar silver closed
at 6214c per ounce; at London. % 9-16d.
Total sales of stocks were 217,571 shares.
The volume of business on the Stock Ex-
change was greater than on Tuesday, and
the transactions were more widely distrib-
uted throughout the list. Sugar, however,
receiving the largest share of speculative
attention. at the opening there was consid-
cradle excitement in the Sugar crowd, and
the trading was so furious that the first
report that came from the stock ticker
showed the price IA per cent. above Tues
days closing. The shorts, who were anxious
to cover, were the main buyers in the morn
ing. There were, however, numerous sell
ing orders on the board from holders who
saw a handsome profit and desired to real
ize, and for awhile these counter move
ments, being about equal in force, held the
stock between 1O7 and 10S. About noon the
buying became less pronounced, and prices
took a lower range. During the next hour
the fluctuations were between 1861 and
107ss. About half past l o'clock 1865 was
touched, at which time brisk buying was
encountered, causing a rally TO 107as, but
In the final dealings a reaction of a was
made. leaving a gain of Is on the day.
Sugar preferred rose Ia, but lost q in the
final trading. The declaration of the regu-
lar dividends on the common and preferred
shares had practically no effect on the
@~@,rxT 49, n
trolled at present almost entirely by the
tariff possibilities and the operators who
base their market calculations on the fate
OF the sugar schedule of the tariff bill. A
great deal Of long Sugar stock was brought
out to-day, on which a good profit was
made. and there Is a growing belief that
insiders are supplying much of the stock
put on the market, as the clique brokers
have been among the heaviest sellers. OF
the other industrials, Chicago Gas was most
active, and. after an early decline of " per
the close. Distiifing receded a small frac.
ton In the morning, but during the after
noon. on free buying. partly by Washing
IA. and closed within u of the best price
OF the day. The railway business was by no
mbesarnns negiectea. and DESPITE the fac5 that
tone OF the market was strong throughout
the day. The advances in wheat stimulated
purchases or the grangers, and also helped
the rest of the list. London was in the
market as a buyer of nearly all of the in
ternational specialties, notably of st. Paul,
which made an advance Of 1B per cent,
and held all but Is thereof TO the close.
Rock Island rose rs, Burlington IA and
Northwest q. the last being the highest
price OF the day in each case. The other
more important gains were: Missouri Pa
ciic and New York Central. l per cent. ;
Louisville & Nashville and Erie preferred.
rs; Northern Pacific preferred, 14s.
The bond market was firm to strong all
day, the leading changes being: Advances
Erie second consol trust receipts. "a; Min
neapolis x ST. Louis hrSts and Minneapolis
& 81. Louis Pacific extension irsts, /. De-
clinesEUnion Pacific gold skies collateral
trust notes, 212; Milwaukee, Lake Shore &
961a on March s.
Government bonds were steady. State
bonds were inactive.
The following table, prepared by James e.
Berry, Room 16, Board of Trade, shows the
range of quotations.