The Indianapolis journal., 1896-04-25
SUGAR is HAMMERED
TRUST SHARES SUFFERED on PAS
SAGE OF GERMAN BoUNTIEs.
Weak lndustrinis Affected the Rest of
the Mnrkef-Sfsns of Improve
menf in Local Business.

t'At New York. yesterday, money on call
was easy at 2Q2z per cent last loan. 215;
closed, "a per cent.
Prime mercantile paper. 41sQ51z per cent.
Sterling exchange was steady with actual
business in bankers bills al s4.SSi4fIisS%
for demand and s4.ss5s14.s7s4 for sixty days;
posted rates, $SsaiSSlz and s4Sq4Ssl5;
commercial bills. s4-s6z
Silver certificates, 677sdsSllc; bar silver,
6TAc. At London bar silver closed at Sid
per ounce. ~
Total sales OF. stocks were 254. 40 shares,
including: American Tobacco. 20.60e; Atchi-
son. 300; American Sugar. ss.100; Buring-
ton. 1900: DstiIdng. 300; Louisville & Nash
vile, 1900; Missouri Pacific. $3.50; Reading,
1i.700; Northwestern, $500: Northern Pacific.
preferred. 500; Rock Island, 5000: St. Paul.
1920: Union Pacific. $500: Southern Railroad
preferred, 1900.
reactlonary tendency in the New York
stock market yesterday, chiefly in the In
custriais. was attended by a decreased
volume of business so far as the general
market was concerned. A few Of the rail-
way shares reached respectable totals. but
the speculation cen;ered in the industrials,
with Sugar and Tobacco the star perform
ers- The first named overshadowed the mar
ket In point Of activity. figuring for one
fourth OF the entire transactions. Sugar
shaded off fraction early. on the news that
the German sugar bounties bill in the Relchs-
tag had passed its second reading. Tne
latest modification In the bill has been In the
direction of increases. The stock soon s RAJ,
lied rs TO 1z57s, but late in the day HOOD
OF sales depressed the price AS per cent, TO
liza. The depression reflected heavy liqu.da-
tion by INSIDE interests and sales by opera
tors on margin In the sugar trade IL was
stated that the passage OF the German sugar
bounties bil would amount practically to
handicap on the American refiner OF about
7-32 cent. The decline in the stock developed
late rumors of impending unfavorable legis-
1ation. Tobacco was prominent early and on
large purchases rose 29s per cent to a. The
shutting down OF some Of the opposition
pant. A partial recession followed, which
late in the day received momentum through
free selling by insiders and the price. fell
TO 70A. The closing at rally Of about
= point from the low level. The market as
q whole moved irregularly, but the tone was
comparatively firm. The dealings were more
strictly professional than has been the case
for several days past The dealings In the
railway list were not signincant as 2 RUE, rule
confined to fractions. st. Paul. burlington
and Reading were the most active in the
order named, and also covered the widest
range. The raid on Sugar and Tobacco in
the late trading caused sympathetic frac-
tional decline in the general market which
impaired heavy tone to the closing Ine
managers of the organization of the North
ern Pacific railroad to-day declared the
pan operative. holders of over 92ils per cent.
IN amount Of the. general second mortgage
bonds. general third mortgage bonds. div
1dend certificates, consolidated mortgage
bonds collateral trust notes, preferred stock,
common stock and Northwest equipment
stock, and Northern Poetic and Montana
railroad first mortgage bonds. having been
deposited. Holders of the outstanding Sc
curities may still deposit under the terms
and agreement, on payment OK Q. penalty or
2 per cent on bonds, dividend certificates,
notes and equipment stock; on Northern
Pacific preferred u and on the common
stock u per cent. The full details OF the
settlement between the Northern Pacific and
Chicago Northern Pacific companies were
made public yesterday. but do not differ
in any important particular from the out
lines presented in these dispatches. The net
changes were generally a fraction below
Thursday nights closing
Railway bonds were less active, but were
firr Some material gains occurred in the
usually inactive mortgages, but the changes
in the speculative issues were slight. The
sales were 81. .472,00o.
Government bonds improved slightly on
dealings of S157Oc0. In State Issues the sales
were 10000. Virginia Centuries rose to GA.
but closed at 81 bid.
The following table, prepared by L. W.
Louis. Room 49, Board OF Trade. shows the