The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-10
PLAYING WITH FIRE
Dealers i'm Stocks Still Selling
Sugar and Whisky Trusts
Bulk of the Trading Monopolized by the
Observation-Disclosures Track
Grain Bids Unchanged.

At New York yesterday money on call
was easy at i per cent.
Prime mercantile paper, 2%65 per cent.
Sterling exchange was firm with actual
business In bankers bills at S4.sSAq4S9 for
demand, and at ASAq4S7h for sixtydays;
posted rates. ASShQ49O; commercial bills,
s4SshG4.S6z.
Silver certificates. 6fG65c. Bar silver
closed at $3.50 per ounce; at London, 2SAd.
Total sales of stocks amounted to les, 591
shares. Sugar leading with Al. 600 and Whisky
Trust next with $4,000. The chief interest
In the Stock Exchange was conferred In
Sugar, Distilling. General Electric, Chica-
go, Burlington & Quincy and St. Paul.
Lead was moderately active, but the rest
Of the, list was intensely dull. The shares
named are given in the order Of their activi-
~. which places Sugar In the lead. This
usually mercurial property was exception
ally steady. After a loss of rs at the
opening on a heavy pressure To sell, the
fluctuations during the rest of the day
were confined within a l per cent. limit
The break was evidently a feint on the
part OF the Sugar pool to induce the bears
TO Increase the short interest, for it was
followed by offerings OF small lots by
pool brokers, the full decline being made
on sales OF only about 1900 shares. Some
of the shorts began to cover at the de-
cline. and their purchases caused a rally
III % ROI CCHl- NCucWCQ Gill CdQocQ Il
reaction OF q, which was followed by a re-
covery of 1 per cent, OF which Is was lost
In the final trading. making a decline Of
on the day; the preferred lost Y. A large
block OF Distilling was placed on the mar
ket for sale. and there being no supporting
orders. the stock broke liz TO 23k. No de-
for the sales, but there was no particular
desire on the part of any one to buy the
OF the lowest point touched. General Elec-
trio opened Is higher and then sagged on
gradually on steady sales until a decline
OF IA had been recorded. The sales were
and in the absence of anything tangible to
account therefor the old story of an OPP
Electric was renewed. There was some
buying OF the shares In the late dealings,
est. Reports of rate cutting and the de-
cline in wheat affected the range unfa-
vorably, and there were selling orders from
ditions. Burlington was also sold by Bos-
ton on a revival of the rumors touching the
decrease in the dividend rate. The decline
on the day, however, only ranged from "a
TO q. the latter in northwestern. National
Lead fell off IA in the morning trading on
sales OF stock acquired In the belief hat a
that effect having been circulated some
days ago. A rally of a was made in the
late transactions. New York Central de-
ciined 1K. none of which was recovered.
One hundred shares were sold at so. IA be-
low the current quotation. Minneapolis &
81 Louis preferred ana metropolitan Con-
dSit declined y, while Pullman rose. IA and
Interior Conduit 2%. In the rest of DIE mar
ket the speculation was duh, and the
changes on the day merely fractional. The
market closed fairly steady.
The bond market was firm on a small bus
mess. the principal changes being: Adj
vances-Chicago & Milwaukee tirsts, III:
Minneapolis & St Louis frsts and Peoples
Gas OF Chicago frsts each per cent. De-
class G, 8: st. Louis &c San Francisco sec
onds. class b. and Wabash debentures,
onds, 2. Baltimore & Ohio Southwestern
income hrsts. series A, sold at 25hs, against
2S1a on April IL.
Government bonds were steady. State
bonds were quiet.
The following table. prepared by James z.
Berry, Room Is. Board OF Trade. shows the
range OF QCotations: