The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-12-10
BIG WEEK IN STOCKS
SUGAR WAS THE FEATURE AND WAS
MANIPULATED BY A CLIQUE.
Changes ON the Week Were Largely
I'm the Direction Of Higher Prices
Local Trade satisfactory.

was easy at 1G1is per cent.
Prime mercantile paper. 2isQ4h per cent.
Sterling exchange was firm but dull. with
actual business In bankers bills at A.Ss14
O4.Ssl5 for demand and at A.s7AG4s7h for
sixty days; posted rates, $Ls7zq4.ss and
$iSsa4sslz; commercial bills. A.S6AQ4s6h.
Silver certificates. Size bid: no sales. Bar
silver. 6l%c; Mexican dollars, 5oc nominal.
AT London. bar silver. IS 3-16d per ounce.
The exports OF specie from the port of
New York amounted TO l,27s, 2ss in gold,
and OF silver, se07. 3S1 The imports for the
week were: Gold. 81. 131: silver. s7O.57S; dry
goods. $2,2s5. i5S; general merchandise. ST.
1851.
The weekly bank statement shows the
following changes:
Reserve, decrease SIG. 31S. $50
loans, increase S,Z3. 400
Specie' decrease --.--.-....-..... IL ,357. 600
Issdl lenders, decrease ........-... 5,f06,S0
I1eposits' decrease .............. B,1S5.40
circulation. increase -..-.----... q. 100
The banks now hold sS2, so2. go in excess
OF the requirements of the 25-per-cent. rule.
Total sales OF stocks Saturday were H.
166 shares. including the folio wing: Ameri-
can Sugar, 7.700; Burlington, 400; Chicago
Gas. $500: Distillers's $500; Erie, $500; Gen.
eral Electric. LOCO; Manhattan. 900: Lead,
EDO; Northwestern. 1000; Reading. $500;
'Ncth 4oauAi, lscDs OF. RAUL, b.HU, western
Union. 1900: Wheeling & Lake Erie. l.5OO.
The feature of speculation on the Stock
Exchange Saturday was the heavy realiz-
ing movement. operators showing an anxiety
to secure some OF the profits OF the re-
cent advance Consequently the trend Of
prices was downward there being. however.
occasional rallies due to the closing out
of short contracts by traders who pre-
ferred to be out of the market over Sun
day. More than one-half of the days
business was done In Sugar, which fiuctuated
within a per cent range and closed at
higher at 80. rose to ssh, was held between
ing price of Friday. The stock opened q
shas fi brlss s and ss.s s until : n near s5a, the close ss
cline to 911s. the final sale being X above
the lowest point touched: The abandon
the project TO issue a statement to stock
holders was the subject of much talk on
the street, which was not at all compli-
mentary to the members OF the trust. but
as the threatened danger of a revision of
the sugar schedule of the tariff bill seems
10 have been arrested there Is no imne-
date necessity on their part to show their
hands. The granger advanced HQ% in the
early decline. but on the receipt of Wash
ington advices saying opposition was being
ington. * in Rock Island and IS in st.
Paul and Northwest. all but the latter.
lowest Of the day. the decline
from yesterday ranging from hq&, the
latter in Rock Island In the coalers, New
Jersey Central recorded a decline of 1ha
on moderate selling; Lackawanna, q, and
Reading. y A report was In circulation
be abandoned and that a new one was in
embryo which would provide for a l2ts per
cent stock assessment. This led to free
selling Of the stock, which declined III per
cent. on the day. The Cordage shares were
heavy on unfavorable trade reports. the
guaranteed stock breaking ~; preferred;
"a per cent. on sales OF 200 shares. Metro
politan Traction is down 212; Manhattan, 15s,
and American LII, pre- l per cent; the
The market closed heavy at about the low
est price of the day.
During the past week the trading in
stocks has been on an unusually large
scale. the aggregate OF the transactions
being $4,000 shares. about one-half Of
which was in Sugar alone. The speculation
and was. at times, attended by great ex-
element. The course OF the movement OF
insiders. but they had a large following
and the trading In the stock was interest
ing to the p pG6 nsc by reason Of
ings were used by the clique to
induce the insiders to help them
which only the outsiders were biindfolded.
Sugar, common. advanced 50 on the week
and the preferred ~ per cent. The COM
mon STOCK sou at GA on AiOHudy anu at
s3k Saturday. those being the low and high
points. respectively. and the last sales were
at 911k. The other important changes on
the week are: Advances In New York, New
Haven & Hartford. "a; Northwest, 3; Bur-
lington, 2; Pfttsburg 4 Western preferred,
24: Consolidated Gas, 2h; Chicago Gas,
2[ and Tobacco, 2 per cent. Declines-Min-
resota Iron. 10; National Starch firsts pre-
ferred, 3; Illinois Central and Tobacco, So;
Metropolitan Traction. "a.
The railway and miscellaneous bond mar
ket was heavy during the day on a very
large volume OF business, In which Atch.
ison firsts and Southern fives were most
and the principal changes are as follows:
Advances-Susquehanna & Western seconds,
2 per cent; Chesapeake. Ohio & Southwest
ern skies. coupon of. 1k. and Louisville &
New Albany firsts and Union Pacific sink
Ing fund Fights. 1: Cordage firsts advanced
2. TO az. and lost the gain. On the
week the trading results In a pretty even
perhaps a slight preponderance of ad-
vances- The dealings were on a very ex-
tensive scale. and reached the heavy total
of 81. 10000 In the list of advance are:
Fort Wayne seconds, III per cent: Fort
Wayne thirds, 2; Cordage frsts, AS: Kan
sas City & Pacific frsts. 8: Evansville &
Terfe Hsute nrsts, ~; Rock Island ex-
Western firsts, 2b. Declines: Reading
third preference convertibles. s1z per cent;
Chicago & Eric firsts. els; Erie firsts con-
soils, "a; Erie second consois trust receipts,
ga: Erie firsts extended. pa. and Peoria,
Decatur & Evansville seconds. 2.
Government bonds were firm State bonds
were inactive.
The following table. prepared by James
+. Berry, Room 16. Board OF Trade. shows
the range OF quotations..