The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-07-27
SUGAR LOWER AGAIN
SPECTATORS AFRAID THE TRUST
Is GOING TO GET JOLT.
Heavy Selling from the Opening of
'Change-At indianapolis Cereals
Are Dull and Unchanged.

At New York. yesterday, money on call
was easy at l per cent.
Prime mercantile paper. 3d5 per cent.
Sterling exchange was dull. with actual
business in bankers bills at SSSAG4SS2t
for demand and $4S71s for ninety days;
posted rates. $4ssd4S9a4s91s. Commercial
bills. S4ssI4 a s61z.
Silver certificates, e4d65c. At New York
bar silver was quoted at 6212c per ounce;
Mexican dollars. 502sc; at London, silver
was 2S24d per ounce.
Total sales of stocks amounted TO 133.197
shares. Sugar having 1900 and Distilling
1880. On the Stock Exchange the great
bulk of the transactions was in Sugar
shares. some large blocks Of which were
unloaded in the belief that a compromise
is probable at Washington on the sugar
schedule by which the refining interests
shall lose the percentage of protection for
which the trust has fought so f1ercely dur
ing the past month. Selling began with the
opening Of business. when a prominent
commission house offered any part of a
$500 share lot. Timid holders of long stock
took alarm and sought to liquidate, there
by swelling the volume of sales. There was
no supporting orders in the market to any
extent. and prices were forced down grad
ually, uncovering some stop orders. which
also added to the selling movement and
increased the depression. The opening sale
was at 1917, being y above Wednesdays
final sale. and then a gradual decline took
place. with occasional fractional recoveries
until decline Of 27s had been effected, this
figure being reached shortly before the
close In the final trading a recovery OF
!. was made, making the loss on the day
rs. 81. Paul was next In point OF activity,
but very far behind. and fiuctuated within
range OF q per cent, closing within Y
OF the highest point touched and Il above
"Wednesday "A
of the stock in the early dealings, causing
a. decline Of q, but In the afternoon pur-
chases TO cover short contracts impaired
strength TO the speculation in the shares.
and there is said TO be still a large uncov-
cred short interest In the stock There was
the Boston account, which sent the shares
up Is per cent, the last being the highest
of n denial by one OF the directors of
Rock Island of an alleged statement that
there was doubt about the payment of a
strengthen all the granger group. Distill-
ing was in fairly good buying demand. pur-
6ouScement bv Yno Preside9t Greenbud that
the company had not made a further bond
issue. has no intention of doing so and
of tn shareholders, and that the floating
debt is wiped out. An advance of "a was
established. from which a reaction of a
took place at the close. Chicago Gas re-
coded y in the early dealings. closing at a
rally of Is In the rest of the list the dealings
active shares were held firmly. while the
specialties dealt in made concessions.
Pittsburg & Western preferred sold al %
for 100 shares. against q the last previous
sale.
The bond market was generally firm. the
principal changes being: Advances-Seat-
tie Lake Shore & Eastern first trust re-
ceipts, 2; Rio Grande & Western firsts.
Rock Island skies, Atchison tours and
Baltimore Ohio Southwestern skies,
coupon OF, 1. Declines-Chicago & Erie
incomes. 2l2; Kansas Pacific consols, 1.
Minneapolis & St. Louis Southwestern ex-
June 3
Government bonds were firm. State
bonds were dull.
The following table, prepared by James
Z. Berry, Room i6, Board of Trade, shows
the range OF quotations: