The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-09-29
SAVED AT THE CLOSE
DECLINE IN STOCKS CHECKED IN
THE FINAL DEALINGS.
sugar Decidedly Prominent All Day
Making n slight RccoNery-LocaI
Quotations Unchanged.

At New York. yesterday, money on call
closed easy at l per cent.
Prime mercantile paper. 3G55z.
Sterling exchange firm, with actual bush
ness in bankers bills at 4S6Aa4s6h for
demand and at A~&i4Q4S1s for sixty days:
posted rates, s~4.Ssa+s61z and A.S7G4.s71s;
commercial bills. $LSiz14S44.
Silver certificates. sac bid Bar silver
closed al 6%c per ounce; Mexican dollars,
52hc- At London bar silver closed at y s-Ied.
Total sales OF stocks were 245, 426 shares,
including the following: American Sugar.
$500; Burlington. 19. 700; Chicago Gas. 3S.-
V0: Distilling, 1900; General Electric. T.
600: Rock Island. $500; ST. Paul, 5000;
Western Union, 5000.
The stock market was irregular through
out the day yesterday, with the general
tendency in the direction of lower prices
until late in the afternoon, when shares
had reached about the lowesl level. AT
this time a very good buying movement set
in. which brought about a recovery in most
OF the issues traded in, and in some shares
an advance on the day was established.
Sugar and Chicago Gas were the sPecula-
tive features. the first named being by far
the most prominent. AT the opening Sugar
receded Il and quickly advanced q. but the
offerings were so heavy as 10 check the
rise promptly. and under free selling. wnick
was continued during the morning, a break
of 2L per cent. Was effected. Inc shares
We're entirely without support, and both
longs and shorts were alike sellers. During
the early afternoon rallies and reactions
followed in quick succession, but liz was not
until after 2 o'clock that a well-deined adj
vance set in, by purchases of large blocks
OF the stock. and just before the close 81
was touched. being a gain of 2ls per cent.
from The low point of the morning. "a reac-
tion Of a taking place at the close. leav-
preferred. on IighS selling, feIi off Ia, but
recovered a per cent, to 9l2. There was
TAX on the street 10 the effect that the
refining company was getting ready so COM
pete with importers OF German beet sugar
Wnen the new crop begins to arrive
next month. and this was not calculated
10 helD the stock. but the shorts took
alarm late in the day and closed out their
extracts Chicago Gas rose u in the early
dealings, but on Western selling, supple
mented by that of the local traders. a
break OF 2iz per cent was made before
room During the afternoon a partial re-
covery took place and in the late trad
irgs an additional advance was made, the
fetal rally being rs per cent, still leaving
a loss OF z per cent on the day. The
granger shares show declines on the day
of rs in Burlington and hnt2 in the rest
OF the group, despite the fact that both
Burlington and st. Pail show gains in
made its Increase wholly by lessening op-
Grating expenses. and 81. Paul makes the
ihdIol DdFt OF lis gain IN the same way,
10 which fact are due the lack of specu-
latiVe appreciation of the companies re-
ports London WAS a buyer of st. Paul in
the early trading. The changes i'm the rest
of the list. compared with Thursday. are
generally slight Louisville & New Albany
preferred advanced S4- The market closed
strong.
Tne bond market was fairly firm. but be-
came easier IN the afternoon. In the late
dealings, however. there was a rally i'm the
more active issues. The sales for the day
were 10000.
Government bonds were firm. State
bonds were dull and railroad bonds easier.
The following table. prepared by James
T.. Gerry, Room le. Board of Trade, shows
the range of quotations.: