The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-28
LIVELY DAY In STOCKS
FAILURE OF WHISKY TRUST TO
MAKE ITS LOAN UPSET THINGS.
Sugar stocks Again Active, Il
the Observation-Disclosures Grain I'm
changed Since Last Week.

At New York, yesterday, money on call
was easy at 1 per cent.
Prime mercantile paper, 3G5Ia per cent.
Sterling exchange was dull, with actual
business in bankers bills at S4.S64, for de-
mand and A.S51A64.S&4 for sixty days;
posted rates, $.s6d4.S7 and A.S7@LSS; com
mercial bills. A.S4lkG4S4s..
Silver certificates. 66Ssc; bar silver closed
at 66c per ounce; Mexican dollars, 523sc; at
London bar silver closed at 3O1ad.
The total sales of stocks were 264, 1862
shares. including: American Sugar, s., 800;
Burlington, 20, 200; Chicago Gas. Zoo; Ches-
apeake & Ohio, 9,9O0l Distillery and Cattle
Feeding. 2s.S0; General Electric, $500;
Louisville & Nashville. L. 400; Northern Pa
ciic. 200.
Yesterday was an exciting day on the
Stock Exchange, by reason of the specula-
ton in the stock OF the Distilling and Cat
tie Feeding Company. 1t was generally
understood at the close of business on Sat
urday that the funds required to take the
company's spirits out OF bond had been
practically assured. and that impression
prevailed at the opening of business this
morning. There was consequently a brisk
demand for the company's stock, which
SOLO up 10 "a on the opening dealings, a
gain or 2 per cent. on Saturdays CLOSING.
Very soon, however. came reports of a
hitch in the loan negotiations, and on the
announcement by Russell Sage that they
mad fallen through a break to 1855 was
made. The trust people themselves, how
ever, refused TO speak on the subject, and
the traders came INTO market to buy at the
decline, sending the price up to 20A. Not
for long was the improvement maintained,
a very uncertain feeling being apparent
among the operators in the stock, and on
reports that the attempt TO
make the loan in this city was a failure the
P from m tSe bis d0wn 6 10 i tSs mmo decline s of 80
break OF 6s per cent. from the top figures
OF saturday. Purchases to cover short
contracts caused a recovery in the final
dealings of Ia per cent. the last sale be-
Ing made at a figure only p below Satur-
lays Hnal price. II was not known at the
close or business whether the company had
given up the fight for the loan, for. al
though 1t had been abandoned at New
YORK, there was a possibility that the
movement might yet be successful i'm the
West, and, in fact. it was said that some
100000 was secured in Chicago.
Speculation in Sugar was fairly active.
out somewhat feverIsh. An early advance
or "a was quickly lost, and a decline of 31a
was effected on the sale Of a big block OF
the Stock for the purpose of taking profits.
Tnere were no supporting orders in the
market while this liquidation was in prog
ress, nor was there, on the other hand,
any unfavorable news regarding the shares.
and when the transaction was completed
the stock moved up rs, to 11S, with a sub
rs. on the day. Little was done in the other
Industrial shares, except the movement
nulNu IcSuIleu III an ADVANCE OF lS in Ma
tional Starch, IS in Chicago Gas, IA in Cen
eral Electric and PA in Laclede Gas pre-
ferred. Tobacco sold up 2 per cent. i'm the
morning, to l07, dropped TO 103, rallied to
100, and closed at 1O4, a net loss OF 1 per
cent. Lead preferred recorded a decline of
y.
In the railway list the trading was gen.
orally firm, with occasional reactions in
sympathy with the depression in the lead
ing industrials. Most of the shares dealt in
appreciated in value, and at the close a firm
tone prevailed and a general advance was
established, ranging from II to Ia per cent.
the latter Louisville & Nashville: IL. in
Northern Pacific preferred, III In Pittsburg.
Z. e. K st. Louis, Ia in Burlington e
Quincy, l in St. Paul, Denver x Rio Grande
preferred, Norfolk & Western preferred and
Ohio Southern, and q in Western Union.
exceptions were Lake Shore, which shows
a decline OF l per cent.
The bond market was unsettled during the
day, but the main tendency was toward
higher prices. The transactions were large.
aggregating 1905, 800. The more important
frsts registered, "a; Northern Pacific COUP
on threes, H.: Peoria K Pekln Union sec
onds, liz; Illinois Central tours of 1853. II:
Wisconsin Central hrsts, New York. Lack
awanna < Western firsts and Hooking Val
ley fves. 1. Decentralization Pacific sec
onds, rs; Atchison. Colorado q Pacific
frsts. L; Reading first preferences, 1 per
cent.
Government bonds were strong and State
bonds dull.
The following table,. prepared by James
+. Berry. Room Is. Board of Trade. shows
the range OF quotations: