The Indianapolis journal., 1894-05-11
SUGAR TRUST HIGHER
Traders Generally Considered 1t
a Good Thing to Purchase.
Outside Of Industrials Business Was
Not Active on 'Change-LOcal Grain
in Better Demand.

At New York, yesterday money on call
was easy at per cent.
Prime mercantile paper, 2$sq5 per cent.
Sterling exchange was firm, with actual
business in bankers bills at $f-S824 uiS9
for demand and s4s74G4Sk for sixty
days; posted rates. $l.S6lzQ490; commercial
bills. $4.s61kG4S6$s.
Silver certificates, s4a65c. Bar silver
closed at 6s1sc per ounce; at London. 2S7sd.
Total sales OF stocks amounted to l6O,2sS
shares, Sugar Trust leading with $500. Ii
was not an active stock market but the
trading was fairly well distributed. The
Industrial group took about one-third of
the business, with Sugar in the lead. St
Paul was active IN the railway list, and
the only one of this class of stocks in
which the transactions exceeded 1000
shares. At the opening the general mar
ket was firm, and a majority OF the shares
traded in showed an advance, exceptions
being Illinois Central. Louisville & Nash
vile and General Electric. The speculation
was unsettled during the first half hour
of business, but gradually assumed a
strong tone, the grangers and industrials
Deing the most prominent In the upward
movement The improving tendency of the
market continued into the afternoon, with
Sugar as the leader, having made gain of
became quite pronounced and was for
both long and short accounts. causing
additional advance OF "a, TO 1919.
slight bear demonstration subsequently
caused a reaction of q, but the final sale was
at recovery OF %. making the advance
on the day 3h. Sugar preferred made
gain of Ia. closing at the highest of .he
The general list was strong throughout
the afternoon until just before o'clock,
when a fractional reaction set in, due
mainly 10 realizations and the market
closed slightly heavy and somewhat irreg-
ular, but. in the majority OF cases, at an
advance Oh Wednesday nights closing fig
= nrss The rise in Sugar .o was ,I Snaceom- com
and apparently was due TO a squeeze of
the shorts. who were induced to sell by
the past few days The liquidation in Cen
;a stock down to $S.s. being ~ per cent; be
with which the stock offered was absorbed
checked the selling and induced buying,
causing rally of 1s4c. the final sale be-
Chicago Gas was favorably affected by the
company's application TO transfer the quo
warranto from the Illinois to the United
States courts. the shorts undertaking to
cover and some buying orders coming in
from the West The grangers made gains
of AQ5s on the day, except st. Paul COM
mon. which lost H. and ST. Paul pre-
ferred 1 per cent. American Cable adj
vanced 2la; Tobacco, IA; Lead, H. and st.
Paul and Omaha ,a,,pe preferred per cent cent III MI
er changes were fractional.
The bond market was active. the princi-
pal changes being: Declines-Northern Pa
cific and Montana firsts, 5l5; st. Louis *
San Francisco seconds class A, 3%; Atchi-
son. Colorado & Pacific firsts and Flint &
Pierre Marquette fives. each 211; Wheeling
e. Lake Erie divisional frsts and Oregon
Short Line consols, each, IL; Cincinnati,
Dayton g. Ironton fves and st. Louis
Southwestern seconds each per .cent.
Advances-Hocking Valley fives, 2; Chicago
& Eastern Illinois irsts. p, and Pittsburg
& Western fours, ] per cent.
Government bonds were steady. State
bonds were inactive.
The following table. prepared by James E.
Berry, Room 16, Board Of Trade, shows the
range Of quotations: