The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-05
ANOTHER BULL POINT
Approaching Settlement of Tariff
Tickles Wall Street.
Appreciation i'm the Share List, with
Sugar Reaching 100 SO = In
dianapolis Grain Quiet.

At New York. yesterday. money on call
was easy at 1 per cent
Prime mercantile paper, 3d5 per cent.
Sterling exchange was firm, with actual
business In bankers bills at S4.SSzG4.S9 for
demand and at as7haLs7ls for sixty days;
posted rates. S4-sS1494S0: commercial bills.
As1za4se4-
Silver certificates. e4G65c. Bar silver
closed at 63a4c per ounce: at London. sd
Total sales Of stocks amounted TO 1884, 57
shares. The fact that only three millions
In gold have been engaged for shipment to
Europe by tc-day's steamers, $4,000 of
which goes from Boston. was regarded as
a favorable indication by the speculative
fraternity. and the evidences of the APP
preaching settlement of the tariff question
by the national legislature was accepted as
another bull point. These Influences for
good o~utweighed the depression which was
carried over from Thursday. as a result Of
the difficulties which beset the reorganiza-
ton proceedings now in progress in the
several insolvent railway corporations. The
local traders were mostly buyers, and Lon
don was q small purchaser of the arbitrage
speciaities. chiefly ST. Paul and Louisville
& Nashville. 1t was. therefore. with a good
tone that the speculation opened National
Lead was in particularly good request and
opened IL Der cent. higher and then de-
clined rs. The movement was due to
operations OF the pool recently formed in
the stock. Sugar opened Is higher and
also took a dip OF rs. Tn general
market had advanced only a fraction when
the decline in Sugar and Lead caused a par
tial reaction during the first hour, the
trading was irregular. the market becoming
steady toward II O'Clock. During the next
hour the buyers were more numerous than
the sellers. and prices moved upward under
the leadership OF Lead and the other in
dustrials. the railway list not being promi-
nent in the Improvement After midday
New England. which had been neglected
during the morning. broke 1 per cent. on
free offerings of stock said TO be for the
Boston account. The rest of the market
~stration. and before / o'clock a strong buy
ing movement was developed In Sugar.
which led to a general advance, the specur
until a little before 2 o'clock, when a drive
was made In Sugar. sending that stock
down and carrying other industrials with IT.
The railway list reacted but very slightly.
The decline In Sugar was speedily recov-
cred. and in the later dealings the stock
above the lowest of the morning. Suisse
quently a reaction OF q took place. with a
final rally OF y. making a gain OF IL on the
day; the preferred rose y. The general
market was well held in the late dealings,
and closed Arm and Ha2A above Thurs
day. American Tobacco preferred closed 1
per cent. ~. Exceptions 10 the general i'm
provement were Central Pacific, which
showed a loss OF IA.
The railway and miscellaneous bond mar
ket was rather heavy during the day. the
principal changes In prices being: Declines:
st. Paul. Minneapolis & Montana extern
sion tours. 2%. Advances: Peoria & Pekin
Union seconds, IL; st. Paul & Omaha con-
= soils and Mobile & Ohio tours, 1 per cent.
Government bonds were firm. State bonds
were dull.
The following table. repared by James z.
Berry, Room 16. Board Of Trade. shows the
range OF quotations: