The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-04-16
SUGAR is IN DEMAND
Reported 1t Will Have an Extra
Dividend for Distribution.
Story of the Octopus Profits This Year
to BE Observation-Disclosures
Grain More Active.

At New York, Saturday, money on cal
was easy at 1 per cent
Prime mercantile paper. 3,i5 per cent.
Sterling exchange was steady. with actual
business in bankers bills S4.Ss1z0+s8s4 for
demand at SLG4G4SIs for sixty days:
posted rates. $ISSQ4s91z; commercial bills.
S4s6Ag4s6l9
Silver certificates, 63I4c. last bid. Bar sill
yer closed at 6Slsc per ounce; at London.
29d.
The New York weekly bank statement
shows the following changes:
Reserve increase. ..-.....-----.------- SO. 02s
Loans, Increase. 6,5l2 500
Specie increase. ........................ 4l6.6y1
Legal tender. increase---.----- ss os'ss
Deposits, increase. ...........-......... 9vys'9D
Circulation, decrease. HZ,bvO
The banks now hold $50 $4,000 in excess
of the requirements Of the % per cent. rule.
Total sales of stocks Saturday amounted
to 11sSOO shares. Sugar was the leader and
was the subject of many rumors. 1t was
stated that the American Sugar Refining
Company had decided to publish its an
nual report for 1893 on Monday. which
would show profits sufficient to warrant
the payment of an extra dividend of per
cent 1t was said that per cent extra
dividend would certainly be declared, If not
the full per cent. 1t was claimed also
that the sugar interests had secured
pledges Of a majority of the Senate that
extent of u per cent, and that the neces-
sity FOR withholding the annual report ex-
lsted no longer. Ihese points were all
consequently the Sugar crowd the CEN
ter OF attraction when the business of the
day was begun. Brokers believed to rep
resent an operator who has manipu-
lated most of the deals on Sugar
were in the ring and took
touched sS. Some of the traders attempted
10 realize profits and sent the quotations
rally to 979s, which was followed by re-
action TO 90 with a final recovery TO 81.
leaving a gain on the day of ~. The
transactions in all the rest of the list did
not equal the dealings in Sugar. the only
other shares displaying even moderate ac-
tivity being Chicago Gas and st. Paul.
cent. The general market moved sluggish
ly, and without concerted action, being
fairly firm during the first hour. then
weakening and closing firm. but irregular
~, compared with the last sales of Friday.
The losses were fractional, except for a de
cline Of liz on Iowa Central preferred
cept for ST. Paul, Minneapolis q Manitoba,
and New York. New Haven & Hartford,
previous sale.
The principal changes for the week are:
Declines-Missoqri Pacific, ~; General
each, 1; Distilling, Is; Northwest and Rock
Island, each, ga Western Union, IS, and
Chicago Gas, y per cent. Adyances-Amer-
lean Tobacco, GA; American Tobacco. pre-
ferred. 2Ik; Sugar, 5; Sugar, preferred, 2;
Cleveland & Pittsburg, 2.
The bond market saturday, was fairly
active and generally firm. The only issues
which declined more than a fraction are:
Northern Pacific consol fives, l per cent.
c.. c., c. & St. L., White Water Valley di-
vision tours, sold at go. against So on March
Z. The changes on the week are mainly
in the direction of higher prices, the prin-
cipaI advances being: Chicago, st. Louis &
Paducah firsts. 4A; c. c., c. & St. L.,
White Water Valleys, 4; st. Louis g. San
Francisco. seconds. class and class H.
each 3 per cent. DeclineS-Brooklyn Ele-
waited seconds, 2312; San Francisco &
Northern Pacific firsts, ~. and Cleveland
& Canton firsts, per cent
The following table, prepared by Jane:
e Berry Room 16, Board of Trade, show:
the range of quotations: