The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-07
CHANGERS SUFFERED
SUGAR TOOK a BACK SEAT FOR
WESTERN RAILROAD SHARES.
Drought I'm the Corn Belt Caused a
Heavy Bear Raid indianapolis
Markets All Advancing.

AT New York, yesterday. money on call
was easy at l per cent.
Prime mercantile paper, $40 per cent.
Sterling exchange was dull and easier,
with actual business in bankers bills at
A.SSl.u4SS% for demand and $i.S7lkG4.S7s
for sixty days; posted rates. $LSS94SS1a;
commercial bills, $f.sS1z64.Ss24.
Bar silver closed at 62Hc per ounce; Mex
lean dollars. 5OAc.
The total sales of stocks were 1S5, 663
shares. including American Sugar with 49,
300 and Burlington with $500. a deter
mined attack was made on the granger
shares, which was based on the reported
damage TO the corn crop, and which was
given aid and comfort by the sharp advance
in the price of that cereal. The talk
was very bearish in this group, especially
as to Burlington & Quincy. the coming div
idend on which was offered at q. and
current rumor declared that it would not
exceed a per cent. The stock was offered
In heavy blocks and was forced Town stead
lily TO the close. with the exception of a
slight rally in the early morning. Chicago
was the heaviest seller. but Boston houses
and local traders Joined in the movement
as the day advanced. The price was at
the lowest figures touched and was at a
decline of 2s per cent. from the closing of
Saturday. Rock Island reached the low
1880 h-NAA~Ao ~ U.s. u - Ol
the day, ard Northwestern. on small trans
actions, aggregating only 800 shares, de-
clined q. ST. Paul, which was very largely
dealt in, was the only one of the group
'"hich sold above Saturdays closing. After
receding 70 in the early trading, tins stock
rose q to 09l2. and in the face of brisk
selling was held above 80 until after 2
o'clock, when the pressure on the granger
of TO 5Sl., with a final rally of Is. making
a loss eompared with Saturday of e. 1t is
believed that there was considerable COW
ering in St. Paul by a prominent bear OPP
orator.
Sugar vacated its place as leader of the
market which it has held for many months.
There was no specially Interesting news
fIom Washington, and what did reach the
street in the way of rumor was conflicting.
The clique which usually operates i'm Sugar
was busy to-day with the grangers, which
accounts for the comparative inactivity in
this stock. An advance OF Is was made at
the opening, which was followed by "A de-
cline of 2 and an advance OF IA, to 106. At
The top figure a selling movement was de-
velOped, under the influence of which a re-
action of a took place, with a recovery of
Y at the close. the Improvement on the
day being q per cent. Reports of in
creased earnings induced buying of West
ern Union for both long and short accounts,
which resulted in an advance of rs per
cent. with a loss or rs in the final dealings.
Richmond Terminal was in better demand
and tone than usual, selling up "a and re-
acting. g per cent Missouri Pacific ad-
vanced Ia on reports OF improved earnings,
but reacted in later trading and closed Ia
below the highest price of the day. Distill-
ing was neglected, fiuctuating within the
limit of u per cent. and closing at Satur-
days closing. Louisville & Nashville re-
coded y during the first hour of business,
and then moved up rs on the fairly good
showing made by the July statement, re-
acting q in the universal slump at the
close. Chicago Gas moved within a range
OF = on light trading, closing at Saturdays
figures. In the rest of the list very little
was done. the dealings therein being ir-
regular in the morning and early after
noon, but higher prices Were made as a
rule, which were only partly lost in the de-
cline of the last hour and the closing sales
were generally made at an advance of IA
21a on the day, the latter in Il. * O. and
ferrsd and Denver g. Rio Grande preferred:
Ia in Lead preferred, and ! in New Jersey
Central, Manhattan, Illinois Central, ST.
Paul preferred. Northwest preferred and
East Tennessee seconds preferred. Excep-
tons were st. Paul, Minneapolis & Mani
press. ?. and Pullman, 1.
The railway and miscellaneous bond mar
ket was firm and moderately active. the
total sales being $s07,0M The principal
changes on the day are: Advances-Toledo,
Ann Arbor & North Michigan hrsts
Union Elevated frsts, ia; New
York. Chicago & 81. Louis hours registered.
st. Louis Southwestern firsts and New
York Central debenture fveS registered, H..
Declines Atlantic & Pacific tours, 3l2:
Union Pacific gold skies, L. st. Louis q
San Francisco consols tours sold at 10,
against 20 on June s.
Government bonds were steady and State
bonds Inactive.
The following table, prepared by James
z. Berry. Room 1G. Board Of Trade. shows
the range of quotations.;