The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-12-09
BIG WEEK In STOCKS
SUGAR WAS THE FEATURE AND WAS
MANIPULATED BY A CLIQUE.
Changes ON the Week Were Largely
IN the Direction of Higher Prices
Local Trade satisfactory.

At New York Saturday money on call
was easy at 1d11s per cent.
Prime mercantile paper, 21zG41a per cent.
Sterling exchange was firm but dull. with
actual business in bankers bills at 4.sS4
@4-Ss1a for demand and at A.s7A@4s7la for
sixty days; posted rates, S4.s71s64.ss and
A-Ssd4ss1<; commercial bills. s4ssAQ4ss5z.
Silver certificates. 61izc bid: no sales. Bar
silver. 615sc; Mexican dollars. soc nominal.
AT London. bar silver. 2S 3-16d per ounce.
The exports of specie from the port OF
New York amounted TO LIZA, 2ss in gold.
and CT silver. Se07 .381. The imports for the
week We're: Gold, $Sl.131; silver. s7O,57s; dry
goods. s2,zs5. As: general merchandise. ST.
$40. ssi.
The weekly bank statement shows the
following changes:
reserve decrease ..."-.~....... S19,3ls,lO
1oaiis' Increase .-.----.--.-... -S,2I3,40
Spccie' Increase ............-...... 1881. 600
Legal tenders. decrease ............ 500, 900
deposits, decrease ................ Is, 785, 400
Circulation. increase ...... 2f.1OO
The banks now hold 5 .s02.s $50 in excess
OF the requirements of the 25-per-cent. rule.
Total sales OF stocks Saturday were 141,-
1e6 shares, including the folio wing: Ameri-
can Sugar. y. 100: Burlington, 400; Chicago
Gas. $500; DistilIers'. $500; Erie. $500: Gen
eral Electric, LOO; Manhattan, 200; Lead,
2ac, Northwestern. 1900; Reading, $500:
Rock Island, 1.S0o: ST. Paul, $3.50; Western
Union. 1,@0; Wheeling & Lake Erie. 1,5O0.
The feature of speculation on the Stock
Exchange Saturday was the heavy realiz-
ing movement. operators showing an anxiety
TO secure some Of the profits Of the re-
Cent advance. Consequently the trend OF
prices was downward there being. however.
occasional rallies due TO the closing out
OF short contracts by traders who pre-
ferred to be out of the market over SUM-
day. More than one-half of the days
business was done In Sugar. which ~huctuated
a loss OF only q per cent from the clos
higher at 81. rose to S3h, was held between
Ing price OF Friday. The stock opened q
that figure and 929s until near the close,
when brisk selling caused an additional de-
cline TO 911s. the final sale being II above
the lowest point ouchsd. The abandon
the project 10 Issue a statement to stock
holders was the subject of much talk on
the street. which was not at all compli-
mentary to the members Of the trust. but
as the threatened danger Of a revision Of
the sugar schedule of the tariff bill seems
date necessity on their part to show their
hands. The grangers advanced 1sG% in the
early decline. but on the receipt of Wash
developed to the railroad pooling bill a
decline was recorded of l per cent. In Bur-
ington. = in Rock Island and Is in st.
Paul and Northwest. all but the latter,
lowest %V1eH of the day. the decline
from yesterday ranring from sG%. the
Jersey Central recorded a decline of IL
ON moderate selling; Lackawanna, -, and
Reading, % A report was In circulation
be abandoned and that a new one was in
embryo which would provide for a 12la per
cent. stock assessment This led to free
.~IIs.@ Of The SfneE uhfah dnNlina6 IL mar
cent. on the day. The Cordsge shares we're
heavy on unfavorable trade reports. the
guaranteed stock breaking 21s: preferred.
z. and common. y. Illinois Central dropped
2lz per cent. on sales of 200 shares. Metro
politan Traction Is down 2tz: Manhattan. i%.
AID American Express: l per cent, the
The market closed heavy at about the low
est price OF the day.
During the past week the trading In
stocks has been on an unusually large
scale. the aggregate of the transactions
being 1.4S0. 900 shares. about one-half of
which was In Sugar alone. The speculation
and was. at times. attended by great ex-
citement. The course OF the movement of
the shares was controlled by the CLIQUE of
insiders. but they had a large following
and the trading in the stock was interest
Ing to the public by reason of
its ,ns magnitude ~sae used ana BY because tSs c lhs hold to
induce the insiders TO help them
TO play the game of blindman's bun in
which OnIN the Out-tQrIo were DlllQIOlQeQ.
Sugar. common. advanced 5% on the week
and the preferred IL per cent. The COM
mon stock sold at S2& on Monday and at
sgIs Saturday, those being the low and high
points. respectively, and the last sales were
at s1Ik. The other important changes on
the week are: Advances in New York. New
haven & Hartford. ga; Northwest. 3: Bur-
lington. 2: P~ittsburg & Western preferred.
%: Consolidated Gas. 2iz: Chicago Gas.
% and Tobacco, ? per cent. Declines-Min
resota Iron. 10: National Starch irsts pre-
ferfed, 3: Illinois Central and Tobacco. 3Ih;
Metropolitan Traction. "a
The railway and miscellaneous bond mar
ket was heavy during the day on a very
large volume of business. in which Atch-
ison frsts and Southern hves We're most
prominent. The total sales were 1.0Sl, 500.
and the principal changes are as follows:
ACKNOWLEDGEMENTS a Western seconds,
2 per cent. Chesapeake, Ohio & Southwest
ern SKIES, coupon of. IL. and Louisville &
New Albany firsts and Union Pacific sink
ing fund eights, 1: Cordage firsts advanced
TO ~, and lost the gain. On the
week the trading results I'm . pretty even
division between gains and losses, with
perhaps = slight preponderknce OF ad-
vances. m dealings were on a very ex-
tensive scale. and reached the heavy total
OF 8. 73O.Oo. IE the list of advances are
Fort Wayne seconds, ~ per cent; Fort
WAYNE thirds. 2: Cordage firsts. As: Kan
sas City & Pacific f1rsts. ,: Evansville *
Terre Haute hrsts. ~: Rock Island ex-
tended hyes registered, 3z; Pittsburg &
western firsts. ga Declines: Reading
third preference convertlbies. So per cent.