The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-21
FIRMNESs IN STOCKS
SPECTATORS MANIPULATE TIE
LIST TO SUIT THEIR TASTE.
sugar Trust Easily stands an At
tempted Raid = Local Markets
Firm, but quiet.

At New York. yesterday, money on cal
was easy at 2a2iz per cent; last loan, "a
per cent: closed, 2a215 per cent
Prime mercantile paper. 4Q5lz per cent
Sterling exchange was firm. with actual
business in bankers bills at $4Ss1zQ4. SSA
for demand and s4s71zd4s7% for sixty
Gays; posted rates, $LssQ4S and $i.s9szfg
400: commercial bills. $i.d.
Bar silver, 677sc; silver certificates. $50
6s1zc. At London bar silver closed at 81 Lied
per ounce.
Total sales of stocks were 1911 shares.
including: American Tobacco, 600; Amer
lean Sugar, $500: Burlington & Quincy.
200: Louisville & Nashville. 1900; Manhat-
tan Consolidated. 1890; Rock Island, $500;
st. Paul. $500.
The speculative movement on New York
Change yesterday was almost entirely
based on professional operations and ma
nipu.ation by the inside interests in Sugar
against the shorts. The dealing in the last
mentioned stock comprised over $1,000
shares out of general aggregate of about
I7.co0 The opinion has obtained that on
the way down some time ago large lines
or shorts had been put out in Sugar at
about Us. and the buyers were reported
thoroughly confident OF the soundness Of
their position. basing their arguments on
the alleged unfavorable trade prospects
and the recent declines in the grades Of
foreign and domestic product. There has
been a conflict of opinion to the result
20 the company OF the recent We akness in
raw sugars, q decline of &c having oc-
Cured in the past five days. en- the one
hand 1t is claimed that the company's
stock Is only moderate. and that the decline
will not have any important effect on its
earnings, and on the other hand 1t is urged
that the drop finds IL loaded up heavily
At al events, the bears found to-day that
the powerful pool in the stock. had still TO
be reckoned with Sugar early in the deal
tngs receded small fraction, TO 10, but
later was rushed up pa per cent, TO 1223.
The movement impaired some sympathetic
snap to the general list and gains were
recorded. Improvement in the tone of the
market followed the news OF pacing abroad
by Mr. Morgan CT $6.500,0C0 of new Northern
Pacific f0ur-per-cent. bonds and more fa-
outlook. The amount of gold engaged for
shipment TO Germany tomorrow also was
less than had been anticipated. owing to
the Increasing firmness of the exchange
market. The market during the greater
part of the day was In the condition of
semt-stagnation, but prices were we'll main
tanned The absence OF any selling pres
sure evoked favorable comment. The late
dealings were marked by decided firmness.
Manhattan gaining l and Rubber Ia per
cent The other improvements recorded
were fractional. Speculation left OF strong
IN tone, with top prices ruling
The market for railway and misce.lane-
Gus bonds was without important feature,
although a continued absorption of some
OF the leading issues was noted, including
Northern Pacific and Southern fyes. A
number OF the usually inactive mortgages
figured in the dealings at improved prices.
The sales were $4,000. The principal gains
were: Michigan Central fves of 1881. PA
St. Paul & Sioux City firsts. 2; C., c., c. a.
St. L., c.. w. & NJ. division. tours, ~; New
Moines firsts. N. Y. N. II. & II. debenture
fours. s.; Pittsburg & Western firsts, and
ST. Paul & Omaha consuls. per cent.
Government bonds were moderately
active bu: steady, with transactions of 49,
000 State bonds were quiet. the dealings
being confined to 5000, OF Virginia centu-
ries and Tennessee settlement fives.
The following table, prepared by L. w.
Louis. Room IL. Board of Trade. shows the
range OF quotations.: