The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-04
INSIDE MANIPULATION
SOME WIDE FLUCTUATIONS IN SUGAR
WITH A GAIN ON THE DAY.
Total transaction I'm the Trust Were
$4,000 shares-IndianapOlfs Quo
tatfons Unchanged.
At New York. yesterday, money on cali

At New York. yesterday, money on call
was easy at 1 per cent.
Prime mercantile paper, 3q5h per cent.
Sterling exchange was strong. with actual
business in bankers bills at A.S6i4d4.S6A
for demand and s4S51kq4s5% for sixty days;
posted rates. s4.sS@4.s6h and S.1@4.Sls;
commercial bills. S4.si% 64.s5A.
Silver certificates. e27c. Bar silver closed
at e2%c per ounce; Mexican dollars. 51Ac.
AT London bar silver closed at 2S7sd.
The total sales of stocks were 241, $50
shares. including: American Sugar. 13s, 800;
Chicago Gas. 80. 100; General Electric, 81
800: L. s. N. 1850; National Lead, 2,7OO;
Northern Pacific preferred. $500: Rock ISL
and. 1910; st. Paul., 800; Western Union,
2.4OO.
Again vas Sugar the leading feature of
the Stock Exchange speculation, the sales
of the stock reaching the heavy total of
over 1890 shares, which exceeds the COM
bined transactions in all the other stocks
opening break of "a per cent. Sugar came
into good buying demand for the short in
terest and rose 2A- Free supply of stock
offering suddenly checked the upward
movement. and a bear demonstration was
made which sent the price back to S&- The
depression was but temporary, and a re-
port that an inside interest had decided to
support the stock until some of the present
short interest had been shaken out seemed
to be verified in the strong buying which
took place, sending the stock up to S6ss.
The high figures induced another drive,
the shares touching S3ls, and at the close
rallying to S3h. being a gain of q on the
day, Sugar preferred advancing 1 per cent.
There was no development to account for
the heavy trading in the shares, and the
street was without news affecting the trust.
engaged in a game of manipulation, which
may be understood after 1t is played to a
In CnlCaRO Gas sem that stock I'm 81 i'm tho
early trading. but some large orders to sell
at the market price brought about a reac-
traders. and a break of 2z per cent. was
effected before IL o'clock. At this point
fresh covering 6 nad s.s caused used a ira rally c,,s of rs. of
decline being w. The rest of the industrial
group, was comparatively neglected and
sales of 100 shares, declined ~: Lead is
Il higher.
opening by the selling movement in Ameri-
can securities on the London Stock Ex-
change, due to the reports of strained rela-
Madagascar question. 1t did not take long,
however, TO discover that there was moth
ing in this scare and the msfket took on
a nrmer tone, the early declines being re-
covered. and In most cases a higher range
OF values being established When the
heavy break came in Sugar the general list
reacted in sympathy, but quickly rallied.
During the afternoon the trading was light
ana the movement irregular. the tendency
being rather downward than upward. In
the late dealings a slightly better tone pre-
vailed and the market closed barely steady.
Declines have been made of 1 per cent. in
Delaware 4 Hudson, Pittsburg, c., c., G..
q 81. Louis and American Cable: ~ in
Erie preferred and Manhattan; ~ in Balti-
more * Ohio, and 3 per cent. i'm Louisville
" New Albany preferred. In the grangers.
St Paul and Northwest are Unchanged
Rock Island is down y and Burlington e.
quincy Is a higher. Some few shares have
made gains of a fraction and Lake Shore
ana Long Island Traction have risen 1 per
cert.
The bond market was active, but gener-
ally heavy, and closed weak. The sales ag-
gregated SLY 900. East Tennessee consoL
gold fves being most prominent in the
dealings. The changes on the day are main
~ fractional and. as a rule, are in the di-
rection of lower prices. st. Paul seconds
sevens declined 31a: Duluth. South Shore
and Atlantic fives, 215; New York Central
deDenture fours. rs; Louisville & Nashville
unined Tours, rs, st. Louis & San Fran
cisco general fives. l, and ST. Louis & San
FRANCISCO consol fives. 3 per cent.
Advances-St Paul. Chicago & Missouri
river nves, East Tennessee consol gold
lves, Union Pacific sinking fund Fights and
richmond and Danville stamped fves. / per
cent. PEI
Government bonds were firm. State bonds
were dull: Railroad bonds were weak.
the following table. prepared by James
T.. Gerry. Room Is. Board of Trade. shows
the range or quotations.: