The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-22
STOCKS INFLUENCED
BY RumOrs as to the Fate of the
Seigniorage Bill.
Cleveland Gives Wall Street Hint to
Keep Its Oar 0ut-IndianapOIis
Grain Dull and Lower.

At New York, yesterday. money on call
was easy at per cent.
Prime mercantile paper, 31kq5 per cent.
Sterling exchange was dull with actual
business in bankers bills at $4SS&4Qf.S9 for
demand and at $LS7j4a4S71s for sixty days;
posted rates, &.SSq4S91s; commercial bills.
$LS61zg4s6sk.
Silver certificates, 5S7sQ59izc. Bar silver
closed at 59Ac per ounce; at London. 271sd.
Total sales of stocks reached III, 900 shares
Although not altogether a controlling infiu-
ence Of the speculation on the Stock Ex-
change, the fate of the seigniorage bill Is
full Of interest TO the street, and operators
for both long and short accounts trade on
their respective theories as to the probable
action OF the President. The dispatch re-
ceived from the executive chamber Tuesday
evening by the Chamber of Commerce COM
mittee appointed To present the memorial
adopted against the signing OF the measure,
advising that they should not go to Wash
ington. was taken by one section of the
operators TO mean that nasmuch as the
reason had been reached to veto the meas
ure 1t was unnecessary for the committee
TO make the journey. On the other hand,
1t was suggested that the President, hav-
Ing decided to sign the bill, desired not TO
speak to the committee. Both sides agreed
that Mr.. Cleveland had either made up his
mind to the course to pursue, or wished TO
arrive at a conclusion without the assistance
OF the New York financers. a belief in
veto caused a buying movement during the
morning, while in the afternoon the early
purchasers became sellers. There were 9TH
er factors besides the seigniorage bill which
affected special stocks and sympatheticaIly
the entire market. The Sugar people profess
he duIa of
tariff bill with only little less favor than
they accepted the House BILL and assert that
IL does not give any material protection to
reiners. As a consequence, the bears I'm The
Sugar company's shares are assisted by this
this argument In hammering down prices
Reports were circulated to the effect that
certain prominent Senators have stated that
the tariff bill, as 1t shall pass, is certain to
make sugar free. but the common stock
after early break, recovered all but a
fraction OF the loss, while the preferred
made slight gain. Pending the conclusion
or negotiations in progress between repre-
companies, the speculations in Distilling are
contracted. The uncertainty which prevails
as TO the outcome of the conference naturally
restricts the buying and the bear traders
are not anxious TO put out long lines of
stock lest they be swamped in a boom
manufactured out Of a possible agreement
between the rival interests. A covering
movement in Burlington * Quincy was
the moving power in the appreciation in
st. Paul for the London account. the later
selling reduced the advance in the common
TO Is. but the preferred made an advance
or 1 per cent In Chicago Gas a truce
seemed to have been agreed on by the OPP
posing factions the fluctuations being with
in "a per cent. and the closing at Tuesdays
final sales. New England was not in the
least affected by the change In the COM
plexlon of the directory at yesterdays
meeting OF shareholders in Boston. Nc
Leod and his friends dropped out of the
management OF the company without
ripple of excitement among the share
holders. The volume of business was light
er than for some time. even Sugar failing
20 show It's accustomed activity. A firm
opening was followed by an early adj
vance. except for Sugar. which, after an
advance of =. broke Pa, subsequently re-
covering pa, but again reactlng =, rallying
IL. receding Ia and closing at recovery
OF IA per cent. the loss the day being
II. The general market was strong dur
ing the afternoon until about o'clock,
when a reaction occurred, but In the final
dealings the speculation became firm again
and closed with prices in the main i4T7s
per cent higher than the final quotations
OF yesterday for the active list, and for l
per cent. for Delaware. Lackawanna K
Western; rs. Noble & Ohio; a, Pullman;
2 81. Paul * Duluth; 2l2. Pittsburg q
Western preferred; rs, Consolidated Gas,
and 3. Evansville & Terre Haute.
The bond market was firm In the early
the principal changes being: Advances
Peoria g Eastern firsts. 3i2; Chesapeake &
Ohio r. & A. division seconds, Peoria, De-
catur * Evansville seconds, each per
at %. against y on March Z. Government
bonds were firm. State bonds were in
The following table. prepared by James
f Berry, Room l6, Board OF Trade. shows
Open High Low Clos