The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-27
EXPECTING THE VETO
Wall-Streeters Now Consider the
SeigniOrage Bill Doomed.
AS Consequence the Bear Impulse Was
Checked for Time at Least-Local
Grain Inactive.

AT New YORK, yesterday, money on call
was easy at 1 per cent.
Prime mercantile paper, 3Q51a per cent.
Sterling exchange was dull and easier,
with actual business in bankers bills at
$4.sSAq4.SS1 for demand and $4S7a4S7A for
sixty days; posted rates. $4.SS44S91a: COM
mercial bills, $4.S6Q4s614.
Silver certificates, 587sG59bc. Bar silver
closed at soc per ounce.
Total sales OF stocks amounted to III, 600
shares. The very general impression which
now prevails that the President will veto
the seigniorage bill had the effect Of
strengthening the Wall-street markets to-
day. and undoubtedly checked the bear i'm
pulses OF those operators who take the
short side of the market the slightest
proVocation. The decline in sterling ex-
change rates was also element of
strength I'm the speculative situation, mas
much as 1t removed all likelihood of gold
shipment for the present At the opening
OF business on the Stock Exchange a gen.
orally firm tone prevailed. and the first
prices made were in the main a small frac-
ton higher than the closing figures of
Saturday. Sugar, however. was an excep-
ton, opening q per cent lower and reced-
ing = additional, doubtless the effect of the
Dearfsh view or sugar taken by II. o.
Havemyer in a published interview But,
Sugar quickly moved upward. gaining is
per cent, the purchasing movement being
assisted by the announcement from Phia-
delphta that the appeal of the government
In its suit against the. Sugar Trust had been
decided against the government. In the
maj dealings the stock lost q per cent.
The general market was strong In tone
In the early dealings, and up to noon the
tendency of prices was upward, the volume
OF business being at the same time very
light. American Tobacco led the advance
being in good demand on the reports to the
that the company made profits in excess
OF the twe!ve-per-cent. dividend the
tinued during the early afternoon, the
stock touching 1914, being AZ per cent. adj
vance on Saturdays closing price In the
last nour realizing sales caused reaction
or II. leaving a net gain Of pa on the day.
IN the general list a reaction took
place after midday which was merely frac-
tional, OF brief duration, and was succeed
ed by another upward movement, in which
Lake Shore was most prominent, selling up
of ~ per cent. In the final sales a reaction
or 3 took place. Shortly before the close
Richmond Terminal preferred broke 2 per
\ ton, but in the final sales there was a par
tial recovery, and the market closed firmer.
} the leading advances on the day not al
ready noted being: Minneapolis G. St Louis
preferred, "a; Tobacco preferred. 49,. Con-
eolidated Gas and New Central Coal. Ia;
Canada Southern and Illinois Central Ia
and New York & Chicago and st. Louis
>hrsts preferred and Wells Fargo Express.
Pittsburg. Cincinnati, Chicago & St Louis
preferred each show decline of per cent
The settlement of the differences of the dis
filling and distributing companies. by which
the latter is to dispose of all the product
Of the former. and to buy its goods at the
lowest price made by an independent pro-
ducer. did not have a very buoyant effect
on the stock of the distilling company, for
after an early advance of 4 per cent, the
shares sagged off rs, ralying "a, and clos
ing q below Saturdays last price Reading
was sold freely by Philadelphia pool, but
lost only y per cent. on the day. ST. Paul
gained q per cent, and was bought in
round lots on its very favorable statement
CT net earnings for February. The other
sgrangers were firmly held on small trans
actions.
The railway and miscellaneous bond mar
ket was strong throughout the day and
most of the issues dealt in show an ad-
vance on the day. The principal changes
are: Advances-Western Union debentiIre
seyens of 75 registered. 31A; Missouri Pa
cific collateral trust fives, 8. Government
bonds were strong. State bonds were in
active.
The following table, prepared by James
f. Berry, Room 16. Board OF Trade. shows
the range OF quotations.:
Open High Low Clos