The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-28
THETRUSTSSUFFERED
HEAVY TRADING IN CHICAGO GAS,
SUGAR AND READING.
York stock Exchange-LOcal
Markets Quiet and Firm.

At New York, yesterday. money on call
was easy at laiis per cent; last loan. IL:
closed. ~ per cent. bid.
Prime mercantile paper. 2iz03 per cent.
Sterling exchange was a shade easier.
with actual business in bankers bills at
$~.s91zd4.s9ss for demand and A.SS1zl4SsA
for sixty days; posted rates. $4.ssa4.s915 and
~$.soa4sC1s; commercial bills. s4s7z.
Silver certificates. 66k1664c: bar silver,
661sc; Mexican dollars. 53Ac.
At London. bar silver closed at 30 3-16d
per ounce.
Total sales OF stock we're 357, i22 shares.
including American Sugar, 73,1e0: American
Tobacco. 400: Burlington, 800; Chicago
Gas. ss,IoO: Delaware & Hudson. 400: Dis
tillers. zoe; General Electric, 1900; Kansas
& Texas preferred. 300: Long Island Trac-
ton. 400; Minneapolis & st. Louis second
preferred. 1900; Missouri Pacific. 400; New
Jersey Central, 1000; Reading. 1880; st.
Paul.. 300: Tennessee Coal and Iron. A.
100; Wheeling & Lake Erie. 1900.
This was a field day on the Stock Ex-
change for Reading. Sugar and Chicago
Gas. Rumor was busy with the coal shares
In general. and Reading in particular. 1t
was reported that the coal sales agents at
their meeting to-day would vote to re-
strict production and that a harmonious
agreement would be reached. Touching
~ aead,ng. ~ was asserted tnat the co9iroi
Jersey Central people, but OF this story no
could be secured. On the
strength OF these rumors, vague as they
were. there was a rush to buy Reading and
the purchases OF the other coalers were
unusual In. volume. with the result that
Delaware K Lackawanna gained 21s; New
Jersey Central. ia. and Reading. III. The
failure of the coal agents meeting to
reach an early agreement Induced realizing
safes IN the late affPrn0nn and a hr1Gk
reaction set In. the closing figures showing
losses from the highest points touched. of
Ia In Delaware & Hudson. and Ia in Della
ware & Lackawanna. Susquehanna & West
srn preferred lost y per cent. of it's rally.
After an early gain OF Il per cent. IL broke
rs on unfavorable trade reports. but quick
~ recovered the decline on buying by an
inside clique o: small blocks Of the stock,
apparently for the purpose of imparting fic-
dtious strength to the trading, for shortly
ket which could not have come from out
SIDE sources and which had the effect OF
sending the shares down Ss per cent. TO
was ga below the last sale of Wednesday,
Chicago Gas made the heaviest decline of
the lay. breaking. SIS per cent. from
Wednesday nights closing. and rs per cent.
from the high point of the morning. Soon
after the opening a determined raid was
from Chicago, to the effect that the City
Council would a an attempt at once to
pass the IlIlLen GdS company ordnance.
AT the lower figures there was fair buy
Ing. which caused a rally of 2s per cent,
the closing being at a reaction of Il per
cent, and decline on the day OF 5L per
cent. The general market opened irregular,
but generally lower and in the early trad
ing a fractional decline took place in most
stocks dealt In, while Tennessee Coal
dropped 1s and Minnesota Iron "a under
the influence OF the bull movement in the
coal shares, the rest of the list recording
an advance ranging up TO ga per cent. Be-
fore noon prices began to sag in sympathy
with the weakness In Chicago Gas and
Sugar. but the recessions were slight and
were quickly recovered. In the late trading,
the whole list was sold down bG2 per cent.
Market closed heavy.
Railroad mortgages were quiet at i'm
proved prices generally. The sales were ST.
1z5.VOo-. The more notable advances are:
Susquehanha * Western terminal frsts and
oregon Navigation. 2 per cent; Illinois
City frsts. Reading third incomes and Sa-
yannah & Western frsts. IL: Savannah &
Western trust receipts. 2; New York &
Putnam first, "a; 81. Paul ~consols, Ia, and
Northwest debenture fives Of 1921. and st.
cent. Declines: Omaha & St Louis frst
trust receipts. Union Pacific, Denver e,
Gulf ffrsts, Cordage firsts. Oregon Short
line consol hveS trust receipts and Nickel
plate f0urs. ] Ter cent.
Government bonds were steady. State
bonds were steady.
The following table. prepared by James E.
Berry. Room Is, Bosid of Trade, shows the
range of quotations..