The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-07-18
TRUST STOCK ACTIVE
SUGAR AND WHISKY LEAD N TRANS
ACTIONS ON CHANGE.
News UnfavornbIe and Number of
Declines Resulted - indianapolis
Grain Remains Firm.

At New York, Tuesday, money on call
was easy at 1 per cent.
Prime mercantile paper, 3d5 per cent.
Sterling exchange was dull and easier.
with actual business in bankers bills at
$4.ssa4.ssA for demand. and at $iS7gLS7h
for sixty days; posted rates. $i.ssatS9; com
nercial bills $4.s6q4.ssA
silver certificates. 6ia65c. Bar silver
closed at SIC per ounce; at London.
Is 7-16d. Total sales of stocks amounted
20 1920 shares. with 1920 in Sugar and
$3.50 In Dstilling. The feature Of the
speculation was the trading in Sugar and
Distilling, the only other stock which APP
pcared prominently I'm the dealings being
Chicago Gas. At the opening the market
only barely steady and quickly gave
way under the influence OF a selling move
ment. directed first against Chicago Gas.
but which was subsequently directed
against Distiling and in less force toward
other shares. Sugar was at this time in
good demand and moved up "a. being held
firmly until depressed by reports of dis
agreement in the tariff conference commit
tee when sales to realize profits added TO
selling for the short account caused break
OF 21s the last being the lowest price OF
the day. Considerable stock was taken all
act for the inside clique which gives color
TO a belief held in some quarters that
squeeze OF the shorts is in contemplation.
The old short interest in the stock was
materially lessened this morning. consid-
cradle stock having been returned. Distiil-
ing was the subject of a fierce bear raid
which was accompanied by unreliable
reports from CnIcago regarding the spirits
tax and iron the East 10 the eHect mat
the companys business was failing OIL
As result the stock broke IN heavy sdies
IL before noon. During the afternoon the
pressure TO sell was less pronounced ana
the closing SAFE was at a recovery OF 20
the decline on the day being Is per cent
The announcement tnat the chicago COM
mittee in Council had granted franchise
To new gas company brought out some
Chicago Gas stock and induced short sales
of the shares with the result of causing
decline of pa, the bottom figure being
touched in the late dealings, with a final
rally OF y, leaving a decline or LIS from
Monday. The general market moved ir-
regularly during the day and was general
ly heavy In the afternoon. closing weak
with prices pretty evenly divided above
and below the closing of last night. Among
the chief declines are Evansville & Terre
Haute and American Coal, 2; Pullman, liz.
and Cotton oil. Consolidated Gas, Lake
Shore, Lead and Minneapolis & St Louis
common and preferred. each l per cent.
Advances were recorded of 21z i'm Balti-
more & Ohio and Ia in New Jersey Cen
trail
The bond market was strong throughout
the greater part Of the day. but was a
shade easier at the close. The principal
changes are: Advances - Union Pacific
sinking fund Fights, 4; Union Pacific gold
skies collateral trust notes, 8: Kansas Pa
cihc consols. 21z; Lake Erie & Western
firsts and seconds, III; Mobile & Ohio fours
and Northern Pacific thirds, L. Declines
Burlington debentures fves, Sh and Cen
trail Pacific skies of 81. 1% per cent. Wa
bash debentures sold at %. against q on
June T. Wabash seconds rose l per cent
10 "a. reacted TO MS and closed at r.
United States Cordage hrsts advanced l
per cent. to 50 and lost the gain. Missouri
& Eastern frsts were up per cent to
20. sold down TO II and closed at 77b
Government bonds were strong. State
bonds were dull.
The following table, prepared by James E.
Berry. Room 16, Board or Trade. shows the
range of quotations.: