The Indianapolis journal., 1894-03-21
SUGAR WAS UNLOADED
Stampede to Sell Brought a De-
cline of 3 1-2 Per Cent.
The Trust Clique Believed to Be Behind
the MOve-IndianapOlis Grain
Active and Lower.

At New York, yesterday, money on call
was easy at per cent.
Prime mercantile paper, 3izG5 per cent
Sterling exchange was firm, with actual
business In bankers bills at S4sS244iS9 for
demand and at $4s74 4g4S714 for sixty days;
posted rates, $4Sq4s9iz; commercial bills,
$4ss1za4s694.
Silver certificates. 5s7sQ59c. Bar silver
closed at 59Hc per ounce: at London, 271sd.
Total sales Of stocks amounted TO 2l9,lOO
shares, American Sugar leading with sales
of 1Os.5OO. The speculation in the shares of
the American Sugar Refining was the great
feature on the Stock Exchange yesterday.
With the exception OF a slight movement In
Burlington & Quincy and st. Paul the trad
ing I'm the rest of the list was sluggish and
the sales OF all combined did not equal the
transactions In Sugar. At the opening Sugar
declined u per cent. and then rose "a. But
before IL o'clock a well-defined selling move
ment in the shares had been inaugurated.
which sent prices down rapidly until SS2i
was touched shortly after 3 o'clock, making
a decline OF as per cent. from the closing
figures OF Monday A large selling order
executed through the brokers Of a we'll
known bear operator started the downward
movement and led to the belief that the
Sugar pool was Iiouidating necessarily This
caused rush 10 sell on the Part OF many
holders not In the clique. Later In the after
noon there were evidences OF strong buying,
which caused a recovery of pa, but In the
final dealings the. selling was resumed and
reaction of 12s was made the closing being
at a decline of 3i2 on the day. The general
market opened firm at an advance
OF hGn per cent Chicago Gas made an
advance of per cent in the early deal
ings, but quickly reacted 81. Northern Pa
cific preferred on small transactions sold
UP IA per cent. Fluctuations, except In some
of the specialties, were confined 10 very
narrow limits up 10 noon. but Chicago x
declined a per cent Later in the DAY
speculation took on a frmer tone, and the
best buying OF the day was seen, which
sent up prices hql%.c, Burlington. Lead
leading the upward movement. The higher
range of values induced realizations or
profits. and in the final dealings react n
OF 1sm&s in the general list took place, the
market closing easy, the final sales includ-
ing an advance OF 15s in Cordage, IL in
Northern Pacific preferred, Il in Burlirg
ton Quincy, in Louisville & New Albany
and Baltimore a. Ohio.
The railway and miscellaneous bond mar
ket strong throughout the day. the
leading changes being: Advances-Peoria
q Eastern illinois, 2; Chicago, St. Louis x
New Orleans, Memphis division firsts, and
Consumers, Gas of Chicago, frsts, and
Northern Pacific, firsts registered. each u
Rock Island skies. Northwest sinking fund
skies, Knoxville & Ohio firsts, Edison
Electric firsts, Chicago & Erie firsts, Ches-
apeake & Ohio. Southwestern Ohio skies,
coupon and Atlantic Pacific f0urS. each
l per cent Declines-Peoria. Decatur &
Evansville seconds, 8, and Akron & Chicago
Junction firsts, p per cent
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: