The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-30
ROFESSIONALTRADES
BEARS WHO FEAR A HOLIDAY
BOUGHT STOCKS TO COVER SALES.
Volume Of Business on Change Com
Indianapolis Readily Absorbed.

At New York. yesterday. money on can
was easy at / per cent.
Prime mercantile paper. 2Aq4z per cent.
Sterling exchange was firm, with actual
business in bankers bills at A.SsA for de-
mand, and at $4.S71z for sixty days: posted
rates. A.SSlka4SO: commercial bills, s4s6z.
Silver certificates. 64q65c.
Bar silver closed at &c per ounce; at
London, 2Szd.
Total sales Of stocks were 137, e13 shares.
Tn share speculation yesterday was strong
in tone. but rather dull, the volume of busi-
ness being lighter than for some days past.
The coming holiday had possibly much to
do with both the advancing tendency of
prices and the general inactivity. The
bears. who are constitutionally opposed to
remaining short over a holiday. were the
main buyers in the market to cover their
short contracts. and to the short interest
Is due the appreciation in values. The feel
ing OF uncertainty which fills the specu-
lative mind on the eve OF a holiday kept
some purchasers out of the market, and
feature re" of the 20 da asSt was the the b Das1Ves demand
Tor chicago Gas. the buying In which Is
believed TO have been for the same clique
which has operated so successfully In Sugar,
and which, IL Is said. has formed a bull
pooling Their purchases sent the price up
sharply TO "A. an advance Of 2s per cent.
from Tuesdays closing price. with only a
half per cent reaction at the close. Sugar
led the market in point of activity, fuc-
tuating between 99Z and 1017s, and closing
1 per cent down from the highest point
of the day. but rs per cent. higher than
on Tuesday. The trading in the stock was
In small lots. showing that the big oper-
ators were not in the market. A drive
was made on Burlington & Quincy in the
early dealings on rumors that the April
statement would show a heavy decrease in
net earnings. and the stock gave way y
per cent, but when the statement was
published and made a far different show
ing, tbs shares came into good request. and
an advance of rs per cent was recorded,
was bought by London and the West, and
rose "a, closing Il below the best Phila-
delphia buying, based on an article pub
hshed In a local paper declaring that there
would be no foreclosure, sent the stock Cf
the Reading company up 1s per cent, the
last being the highest price Of the day.
The rest of the market, except Atchison,
in which there were some moderate deal
ings for London and Boston accounts, was
inactive. The tendency of values was to-
firm at the close. A decline was established
Of rs per cent. in Evansville & Terre
Haute. +.
The railway bond market was somewhat
irregular during the day, but closed steady,
the prominent changes being: Advances
consol fves Of 1883, each 2%; Reading frsts
preferred, IL: Reading thirds, L; St. Louis
q San Francisco consol bves, rs. Declines
Chesapeake and Baltimore & Ohio South
western skies. each 3; Northern Pacific ter,
minal frsts. 2; Union Pacific sinking fund
Fights, Ia.
Government bonds were firm. State bonds
were firm and dull.
The following table, prepared by James e.
Berry. Room 16, Board of Trade. shows the
m nf nn0