The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-18
SPECULATION ACTIVE
FLUCTUATIONS o. CHANGE
LAR AND WIDE AT TIMES.
Sugar Trust Led Everything I'm the
List, with Snies of Do, shares
Local Markets Lower.
AT New York money on call was easy

At New York money on call was easy
at 1 per cent.
Prime mercantile paper. 3941A per cent.
Sterling exchange was easier, with actual
business in bankers bills at As7%94S7A
for demand and A.S6%a4S7 for sixty days;
posted rates. $4-S744SshQ4ss; commercial
bills, $4.S54@4.s6.
Silver certificates. $3.50 bid. Bar silver
closed at 631zc per ounce; Mexican dollars.
51Ac. AT London bar silver closed at Esd.
Total sales were 1914. 93s shares. including:
Sugar, 500; Burlington, 14,200;l Chicago
Gas. Il, 400; General Electric, 300: Man
haitian. $500; Northwest, 800; Rock Island,
600: st. Paul. $1,000; Western Union. $500.
Speculation on the Stock Exchange was
fairly active. but the movement Of prices
was irregular and the trading unsettled
In character. After a weak opening, due
to a heavy London market for American
securities and to an accumulation Of sell
ing orders FOR the foreign account, the
market became firm on the reduction in
the rates for sterling exchange and the
consequent improbability of further ship
ments of gold in the near future. There
was a general covering of shorts and some
buying for the long account, which re-
suited in an upward movement that reached
its height about noon, and in which the
grangers were most prominent of the act
i've list. After midday the dealings be-
came light in volume, but the market was
we'll held up to about 2 o'clock except for
Baltimore & Ohio. which broke 6 per cent,
TO IS. on the announcement that the semi
annual dividend had been reduced from
21z to 2 per cent. This action had an un-
favorable effect on the rest of the list,
and during the last hour prices sagged off
without any pressure to sell, but by rea-
son OF the absence OF buyers. ana the
market closed weak with the majority of
the stocks dealt in from "a to ia per cent.
higher than at the close Tuesday, while
in the case of Toledo & Ohio Central
a gain of 6 per cent. was made on a
purchase OF 100 shares. The other more
Important dvances are: Canada Southern,
Pacific Mail, 1; Rock Island. Chicago Gas,
Denver & Rio Grande, Cordage and Tobacco
common 3 and Burlington dnS & sn0o Quincy.
The specialties received more attention than
usual and were in the main heavy, some
material declines being established in this
group, notably pa in Central Pacific on
sales of 600 shares of long stock, put cut
by reason OF the action of the London
Adams Express on the sales OF a hundred
share lot. disposed of probably on account
OF the loss sustained by the company
The only active stock which shows a de-
cline on the day is Sugar, the loss being
only Is. This stock was actively dealt in
.a1 - AA1AA(
clique with perhaps a small following from
among the room traders. No news was cur
rent affecting the company and the move
ment OF the shares was mechanical, a sort
of see-saw arrangement. the high point be-
ing SIS and the low mark S6h, the closing
being nearly midway beteew these figures.
Baltimore & Ohio opened at 70. a decline
OF 1 per cent. from the closing figures of
Tuesday, and when the announcement was
made of the reduction in the. rate of divi-
dend the stock broke 5 per cent. additional
TO 6S, recovering TO 6914 and closing at eSIs,
a net loss of 5l2 per cent. The total sales
of the stock were only 100 shares.
In the bond market a generally firm tone
prevailed on a moderate volume OF business.
The usually active issues are up a fraction
and some other Of the securities traded i'm
recorded material advances. a few of the
mortgages dealt in show a decline includ-
ing Northern Pacific and Montana frsts.
which sold at 3lls against 81 on Sept. &:
Wisconsin Central incomes, ~. and Bur
lington, Iowa division fours, Louisville q
New Albany general fives, and Pittsburg g.
Western firsts, /. Ohio * Mississippi consoj
ssvens advanced. The sales for the day
a amounted TO SSH 600.
Government bonds were firm; State bonds
were inactive and railroad bonds were firm.
The following table. prepared py James
E. Berry, Room 1e. Board OF Trade. shows
the range of quotations.