The Indianapolis journal., 1894-09-28
SUGAR DOWN TO 9O1-4
HEAVY BEAR INFLUENCE AT WORK
ON SHARES OF THE BIG TRUST.
Tendency Toward Lower Figures ON
New York 'Change.-Indinn napOIis
Markets Less Active.

At New York, yesterday money on call
was easy at per cent.
Prime mercantile paper, 3q5Is per cent.
sterling exchange strong. with actual
business In bankers bills at s4.S6q4S6iz for
demand and $i.s5i404s5is for sixty days;
posted rates, S6G4.S6is and Si-SQi.St2;
commercial bills. s4.SiA@4sIl..
Silver certificates, 635.c bid Bar silver
closed at 631kc per ounce: at London. Dad.
Total sales of stocks were 1926 shares.
including: Sugar. $500; Burlington. 1890:
Chicago Cas- $500; Distillers'. 2S,SOO; Mis-
souri, Pacific. 1890; National Lead 5,iO0;
Northwest, 2.1O0; Reading. $500; Rock ISL
and, $780, St. Paul. 1920; Western Union,
zlO0
yugar and Distilling furnished more than
calf of the business of the Stock Exchange
yesterday, and these two and others of the
industrial group were the shares which
fuctuated most widely, the tendency in
the main being toward lower figures. Sugar
seemed to have lost all inside support and
was thrown on the market in large blocks.
Most of the long stock put out is claimed
to be in liquidation of bull pools and the
short interest increased their lines ma
terially. AS a result Sugar receded rapidly
with occasional rallies due to covering,
which were quickly wiped out, and the last
sale made at 90A was the lowest of the
day and AZ per cent. below Wednesdays
final sale. The preferred lost rs. All of
the recent unfavorab,e rumors regarding
the condition of the Distildng company
were received. and at times the selling IN
the shares was brisk. The stock receded
only & below Wednesday nights closing,
and subsequently, recovered r., making
net gain of L. The admissions by Western
officials of the trust that a reorganization
was necessary and the belief that If this
were accomplished a new set or directors
would be forced into the company was the
main sustaining influence. Tobacco shows
a decline Of / per cent; United States
Cordage,, preferred. IA Lead, preferred
common. and Cotton Oil, preferred, are up
1 per cent, Leather. preferred, Is and Gen.
In the railway list the grangers were
most prominent in the dealings, and, ex-
cept St. Paul. which stands unchanged on
the day, show fractional gains as a re-
suit of the days trading. Burlington q
Quincy was firmly held during the MORN
ing and in the afternoon, on covering of
short contracts, rose per cent, to "A,
closing only X below the best Rock
Island. after receding Il. advanced - and
of 2. per cent. throughout the day. advanc-
ing II. reacting Is and rallying "A. The
supply of floating stock of the grangers is
small operations on the bear side. Read
ing was bought on Philadelphia orders. ad-
vancing q, and there. were reports that
the plan of reorganization is gaining
ground. but there was little demand for
the stock in the late dealings. althou3i,
no pressure to sell, and a per cent. Ie-
action took place. Manhattan broke z
per cent. on the placing of modeff
block OF stock on the market and raliie a
Is. In the rest of the list the dealing Was
very light and the speculation unimportant,
the only changes on the day above frac-
ton being the declines of 4 per cent ir
Consolidated Gas and 11a in American Ex-
press and advance of per cent. in ST.
Paul & Duluth. The market closed ~m
The bond market was fairly firm "A the
early dealings, but became easier during
the afternoon and closed rather unset
tied. The days transactions aggregated
$e580O0. The changes in the active issues
were slight, but some OF the active securi-
ties made wide fluctuations. Declines were
recorded in Lehigh Valley Terminal frsts
of per cent; Erie second consols. trust
receipts, IA Northern Pacific thirds 11a
and Reading deferred incomes. l. Duluth
& Manitoba hrsts. Dakota division, sold at
50, against 701s on July 80
Government bonds were easier State
bonds were dull
The following table. prepared by James
Z. Berry, Roorl 16. Board Of Trade. shows
the range OF quotations:
Irfexl- II