The herald., 1894-08-28
FINANCE AND TRADE.
The Days Business GA this New York
stock Exchange.

Tho Days Busineas on tins New York
stock Exchxng~.
NEW YORK, Aug. 27.-This was on exciting
day on the stock exchange by reason of specu
lation in the stock of the Distillin2 and Cattle
Feeding company. 1t was generally under
stood at the close OF business on Saturday that
the funds required to take the company's
spirits out of bond had been practically as
sured, and that impression prevailed at the
opening OF business today. There was conse-
quenly brief demand for the compsny's
stock, which sold up to 22H on the opening
dealings, gain of 2 per cent Oh saturdays
closing. Very sool, h However, came reports oi
hitch in the loan negotiations, ana on the an
nouncement by Russell Sage that they had
fal en- through a break TO 1919 was made. The
trust people themselves, however, refused TO
speak on the subject and traders cana into the
market to buy at the decline, sending the price
up to 20$z. Not for long was the improvement
msintainsd, very uncertain feeling being ap-
parent among the operators III the stock'
and on confrmatory reports that the at.
tempt to make the loan in TINS city
was u failure, the price moved down to lSlS,
decline of 81 for the highest of the morning,
ana break of Us per cent from the top nguIes
of Saturday. Purchases to cover short con.
tracts caused recovery in the final dealings OF
Ia per cent, the last sale being made at
ngure only u below Saturdays final price; ~
WAS not known at the cicse of business mere
whether the company had given up the neht
for the loan, for although It had bsen aban-
doned here, there was a possibility the move
ment might be successful in the west aud In
fact It was said about 100000 900 was secured
in Chicago
Speculation in sugar was fairly active, but
somewhat iev.rlsh. An earlier advance OF q
was quickly lost and decline of 31s WAS erect
ed on the sale of big block of the stock for
the purpose of taking profits There were no
supporting orders in the market while this
liquidation was n progress, nor was there, on
the other hand, any uniavornble news regard.
ing the shares, and when the transaction was
completed the STOCK moved up "a to ID with
4 suhseque reaction Of 7s per CEN, making a
decline of j. on the day. Little was done In
ths other industrial shares
In he railway list, the trading was generally
firm, with actual reactions In sympathy WIN
the depression in the leading industriais.
Most OF the shares dealt in appreciated In
value and at tine close firm tone prevailed
and q general advance was established ranging
from l-S to T. 8 per cent
day, but the tendency was toward higher
prices. The transactions were large, aggregate
ing 81 ,303,50O.
Government bonds were strong; state bonds
dull.
MONEY QUOTATIONS..
NEW YORK, Aug 27.-Money on call, easy,
at per cent; last loan at per cent; closed
at per cent.
Prime mercantile paper-3]s05 per cent
Sterling eIch.nge-Firm with actual ousi-
ness in bankers bills at $4's619@i: s6A for
demand. ana 81 85is s64 S5s4 for 6o days.
Posted rates-$4. Se@4 g
Commercial bilis-b4. S5I5Q04. .SSk,
Silver certi6cates-64D64s4,
SAN FRANCISCO. Aug. 27.-Sight drafts on
New York, per 800, 1910.
ster,ing bills on London, bankers 60-day
bills, $4.S634.
LONDON, Aug. 27.-Consols, 1929.
Bank of England discount rate, per cent.
STOCKS AND BANDS.
cl tat n UQ