The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-08
PLAYTHING OF SUGAR
BECAME FIRM AND RECOVERED on
BuYING At THE CLOSE.
Money Easy at New York and ster-
ling Exchange DulI-LocaI Mar
kets Improving.

At New York yesterday money on call
was easy at 2 per cent, the last loan being
at 2. closing at per cent.
Prime mercantile paper 3szM5 per cent.
Sterling exchange was dull and easier.
with actual business in bankers bills at
stSsa4.s9 for demand and s4.s7ss14.S7a4 for
sixty days; posted rates, $.SSt5 and $3.50;
commercial bills, s4.S6s4G4s7.
Silver certificates, e05sc bid; bar silver,
60asc; Mexican dollars, 4ss4c.
Total sales of stocks We're 262, $50 shares,
including: American Sugar, 15s, 400; Balti-
more & Ohio, 400; Burlington, AGO; Chi
cago Gas. 1900; Distiliing, 1890: General
Electric. 1850; New Jersey Central. 1900;
New York Central. $500; Northwestern, s.,
GOO: Rock Island, $500; st. Paul. 10000;
Southern Railroad, 1900.
Sugar saved the stock market yesterday
from extreme stagnation and at the
same time gave new evidence of its ability
10 furnish the street with mild sensation
without notice. During the past few days
the dividend was a question of street gos-
sip, and the point given out that the
rate would be reduced from to 2ia and
possibly to 2 per cent. Brokers known to
work for the Sugar clique were open sellers
of the stock From 93l2, Monday, the
price declined TO slal yesterday, the loss
being due TO the impression which obtained
in some circles that the dividend would be
scaled After the meeting of the executive
the dividend question had not been dis
cussed, and at the opening of business this
morning 1t was whispered around that the
board OF directors would, at their meeting
IN the afternoon, declare the reduced DIV
nan the sto osh no fro M o and baeh
10 9lH. The lower figure was touched short
~ after midday, and induced some covering.
purchases for the account of traders. who
had apparently received tip that the
was heavy buying also for inside interest.
all of which combined to cause a sharp adj
vance of 3as per cent, to 94ss, the announce
touched that directors had declared the full
dividends of 3 per cent. on the common and
~ on the preferred stock, both quarterly
and both free of the income tax Some
holders who had bought at the lower quo
tations Of the morning took advantage Of
fngly caused reaction Of ~ per cent,
but there was renewal of the purchasing
movement, under the influence of which
the stock again moved upward, closing at
95K the highest price of the day, aud 3la
The transactions in the stock aggregated
1b3, 400 shares. which is the largest total for
The general market was duh and without
special feature. At the opening prices were
a. small fraction higher with but few ex-
1sd1 per cent. were recorded. the latter in
Great Northern preferred. Shortly before
IL o'clock reaction set in, followed by
rally and another recession before noon,
the changes however, being narrow. Dur
ing the hour following midday speculation
was intensely dull, but subsequently, under
the influence OF the bull movement in SUI
gar. the general market became strong,
New Jersey Central selling up to S8ss, an
advance of rs from the low point of the
day. the other gains being merely fraction
al. In the last hour speculation was irreg-
,llar. but the market closed fairly steady
and at an advance of 1sG2 per cent. on the
day, the latter in Evansville & Terre Haute
on purchases of 200 shares, per cent. in
preferred and Lead preferred, rs in Lead
common, q in National Linseed and 5s in
Louisville & New Albany preferred and
Leather preferred. On sales of 200 shares
Canada Pacific broke per cent. There
were a few other declines, which did not
York Central, which was sold down from
95 TO 94ia rumors touching next divi-
dend, but recovered later.
The movement in prices for spe culative
bonds was extremely narrow during the
day, but among the inactive securities
for Brooklyn Elevated firsts Resulted in
rise OF 50 per cent. to 9&i; Brooklyn Ele-
waited seconds fell off per cent, to 62, but
recovered the loss. Union Elevated firsts
jumped 5Ia per cent, to 901a. The. total
sales were S6l 500. Other changes of note
provement fives, 3l5; Missouri Pacific
onds 3; Cordage firsts, 2St; Hooking Vail
ley skies. 2. Advances-Cleveland q Canton
frsts. 3 per cent.
Government bonds We're easier. State
bonds are inactive.
E. Berry. Room 16, Board OF Trade, shows
the range OF quotations.