The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-30
THE INDIANA TRUST co
OFFICES ;. Meridian ST.
STOCKS FALLING BACK
laid On ROCK ISLAND STARTED
THE DOWNWARD MOVEMENT.
Sugar Trust and Disabling Go OF Sew
eraI POints-Inaction in In
dianapOlis Grain.

At New York. yesterday. money on call
was easy at L per cent.
Prime mercantile paper, 3G51s per cent.
Sterling exchange was dull and easier,
with actual business in bankers bills at
A.S6%s44.S6A for demand and $L.S55s44.S524
for sixty days: posted rates, Sf.S694.s7 and
$iS7q4.SS; commercial bills. $4.S41sq4SiA.
Silver certificates, 651sc. Bar silver closed
at 66c per ounce; Mexican dollars. 524c.
AT London bar silver closed at SO2sd.
Total sales of stocks were PA. 1873 shares,
Including: American Tobacco, 4.470; Ameri-
can Sugar. Sf,l97; Burlington & Quincy, D.
40; Chicago Gas. 1O.25O; Distilling. IL, $50;
General Electric, 1O,OO1; Louisville & Nash
vile, sos. Missouri Pacific, 500; Northern
Pacific preferred, 1850; Rock Island, $3.50;
st. Paul. $500; United States Cordage
Company, S.ls6; Western Union, 4.7H.
The downward movement on the Stock
Exchange received fresh impetus, yester-
day. by reason of the publication of the
very discouraging statements made of the
Rock Island Railroad Company by Presi-
dent Cable, in an interview held i'm Chicago
yesterday. The bears used the ammunition
thus supplied and raided Rock Island, the
other grangers and, in fact, the. entire
active list and succeeded in forcing prices
NONH materially TUCK lSldnu Selling OIL
1l2; burlington q Quincy, Ia; st. Paul. Is;
Northwest, "a; Missouri Pacific, IA; Man
NATHAN, 2; Michigan Central, IA; Wheeling
X Lake Erie preferred, III; Susquehanna
* Western preferred. Ia, and New York
central, lis. The industrlals were also very
neaVy' notably sugar. which was sold
neaVlly on reports That the tariff was not
so favorable TO the trust as had been rep
resented: The selling of the stock was
largely by brokers. who had been buyers
Tor a clique during the recent advance and
consequently was believed to be on liquida-
Ton or holdings acquired at figures much
lower than current rates. a break of
effected before 1 O'Clock. During the after
noon a rally to 1882 was maQe, followed
by a reaction to lO712 and a final rally of 4,
the decline on the day being ga per cent.
The preferred fell OF I4s per cent. The
other industrials shared in the depression.
Dlstilllng, which had lost its temporary
leadership of the speculation, was modest
an Its movements, receding % and advanc-
ing Is on the early trading, and then de-
General Electric, ia; Cotton Oil, L; Tobac-
co. Ia; Cordage. III: Cordage preferred, q;
National Starch first preferred, 2 per cent.
Disquieting reports of the failure of bust
ness TO respond to the settlement OF the
tarlH question was a factor in the depreci-
alton in values, and the suggestion that
the fight would be renewed next December
did not help the situation. The greatest de-
preston was experienced shortly before l
O'Clock. and thereafter there were occa-
sional rallies, in which some shares recov-
eTeu the greater part Oh the carrier losses.
while in some instances advances We're
made on Tuesdays final sales. In the final
dealings a fairly healthy tone prevailed.
and the market closed steady to firm. The
more important declines on the day were:
Sugar, ga Sugar preferred. 1ss: General
Electric. IL: Burlington & Quincy and
Leather preferred, 1%; Cordage, 2; Michi-
gan Central. IL; National Starch first pre-
ferred and Manhattan. g: Rubber preferred.
1: Lake Erie x Western preferred and To-
baccO. z, and Chicago Gas, Iowa Central,
New Jersey Central. Susquehanna preferred
Erie preferred, a. Advances were recorded
Of 3 per cent. in American District Tele-
graph, 215 i'm Ohio Southern. 1%s in Quick
silver preferred, 12 in New York & New
Haven. ard l per cent. in Evansville &
Terre Haute.
The bond market was fairly active and
generally heavy. The transactions aggre-
gated $1.155.500 The principal declines were:
Evansville & Terre Haute fists, pa: Erie
first consol gold sevens. Erie consol trust
frsts. 2 per cent: Peoria. Decatur & Evans
Vile frsts. Evansville division, 1; Reading
first preferences. rs: Reading seconds, is;
New York. Chicago e. St. Louis tours, reg
istered. Richmond & Danville consol skies
and Richmond e. Evansville stamped fives,
/. Advances-Pittsburg e. Western frsts
2 per cent: General Electric debenture fives
and st. Louis & San Francisco general six
es. IL: Louisville & Nashville and New
against 100 on Aug. II.
Government bonds were firm. State bonds
were dull.
The following table. prepared by James
r. Berry. Room Is. Board OF Trade. shows
the range of quotations: