The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-09
NO MATERIAL LOSSES
STOCKS CLOSED HIGHER AFTER
IRREGULAR FLUCTUATIONS.
Clique of Professionals Largely in
Control on New York Change
Local Markets Fairly Active.

At New York yesterday money on call
was easier at 3Q7 per cent; last loan. 5;
closed offered at per cent.
Prime mercantile paper, nominally 7q9
per cent.
Sterling exchange was heavy, with actual
business in bankers bills at 81. S3s4@4.S4 for
demand and $4.8194.s2 for sixty days; posted
rates, $4.S211@4.s11s and $4.S5Q4.S6; CONNER
cial bills, $4.S01a.
Bar silver 647sc; silver certificates. 651a
AT London bar silver closed at Sod per
ounce.
Total sales of stocks were 23S, SGT shares
including the following: American Tobacco
$500; Atchison, $500; American Sugar, $780,
Burlington & Quincy, 21,100; Chicago Gas,
$500; Louisville & Nashville 1900; Reading
1880; Rock Island, 4,3OO; st. Paul. $780,
Tennessee Coal and Iron, $500.
The New York stock market yesterday
moved irreguarly, both in point of activity
and prices. The volume of business was
fairly extensive, but periods of animation
were followed by intervals of intense dull
ness. The speculation was no less profess
sional than heretofore. dealings by out
siders on margin being discouraged by the
large commission houses and handicapped
by the firmer tendency of money rates.
bearing generally on values, aside from the
further moderate engagement of gold in
London for shipment to this country. The
market opened weak and lower, under re-
sumption of the heavy selling movement
that marked the close on wednesday.
Sugar was the special point of attack in
the early dealings, and its course reelected
manipulation by operators of the first c4ass,
who had endeavored to emphasize in the
stock market the reported impending local
competition to the American company and
he nf n 10 md for
eign grades of the product. The early
cables yesterday reported IL demoral1Zed
condition of the foreign sugar market,
based on the advent of the duh season, and
heavy sales of Sugar stock were made in
anticipation of a reported probable further
sharp reduction m domestic sugars but
action was taken IN that direction. The eX-
IRENE decline 112 per cent, the stock
touching 1858, the lowest point reached in
many months. The general list also suf-
fered SympatheticaIly, although the losses
Were, not as material. Manhattan and
sufferers. At the low points covering of
shorts impaired steadiness to the price, and
on ruIaors or ARRANGEMENTS making for the
import of round amount of god, substan-
tial rallies in prices occurred. The high
priced industrials reflected clearly adroit
manipulation The advances extended to
"a per cent. in Manhattan and Tobacco. In
the movement Sugar recovered practically
all OF the early decline, but eventually
eased of a point from the highest of the
day. Bay State Gas was unusually active
and moved counter to the general market
~ ,,to Sro9iiiS ueliiHSs, reaching per cent
10 IL. Inc close was strong at fractional
gains, d late favorite influence being o
weaker market for foreign exchange Final
prices recorded fractional net gains gen
orally.
Railway bonds were dull and irregular. on
narrow movement. The Reading and the
atchlson issues We're the most largely dealt
IN An upward tendency was noted at the
close The sales were $S07 900.
Government bonds were dull but slightly
lower on sales of $500
:, Inc following table prepared by L. w Louis
quotations: -