The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-20
SUGAR TRUST LEADS
HALF OF THE DAYS BUSINESS ON
,CHAxGE WAS IN THIS STOCK.
Continuous Pressure by the Bears
and Declining Tendency Manifested
Local business Quiet.

At New York. yesterday. money on call
was easy at PAPA per cent; last ioan' z;
closed 2d21z-
Prime mercantile paper. 495h per cent.
Sterling exchange was firm, but not quot
ably higher. with actual business In bank
ers' bills at 81 ss1zG4S8s4 for demand and
Hs71za4s7z for sixty days; posted rates.
$4sS04ss and s4s9iaf14.s0; commercial bills.
Sassy.
Bar silver. 677kc: silver certificates, 6S4
eS3sc. At London bar silver closed at 81 l-16d
per ounce.
Total sales of stocks were 1852 shares.
Including: American Tobacco, 800; Amer
lean Sugar. $500; Burlington & Quincy.
a1O0; Chicago Gas. $500; Louisville & Nash
vile. 500: Manhattan Consolidated. 1900;
Rock Island, $500; st. Paul. 10000.
No Improvement was discernible in the
character OF the stock speculation yester-
day. The bulk of the business was on re-
cent moderate scale and distribution OF
trading was very poor. Sugar figured for
one-half OF the entire total. The stock
mentioned was under continuous pressure
throughout Declining tendency of this
speciality has been quite marked recently
although stemmed at intervals by support
ing orders and by covering purchases, but
renewed liquidation carried the price down
per cent yesterday, to 10 1t is under
stood that large lines were purchased some
time ago in anticipation of a larger Ger
man export bounty than has actually been
fixed and in expectation Of sharp reduc-
ton in the Cuban crop on account of the
tnsurrection in the island. The domestic
raw sugar market has fallen Ac per pound
In the past five days, and the American
Sugar Company Is known to be carrying a
Is blue, and has been selling it's Sugar
stock. The tendency of the general market
was downward. although the losses, except
At the outset the speculation was firm in
tone. although the foreign houses were in
receipt Of orders. aside from Northern Pa
cific bonds, which were taken in round
amounts. owing TO the impending launch Of
the new company, which Is now set for
July. On that date the receivers are ex-
pected 70 be relieved of their duties. The
raid on Sugar. together with apathy in the
general market, encouraged the bear pro-
fessionals TO make demonstrations against
general recessions. The trading In the
Rubber shares attracted more than usual
attention, owing to the annual meeting of
stockholders and the publication OF the re-
port Of operations for the year. A contest
for control of property had been ex-
pected: but did not take place Full de
dispatches. The common rose 1h to Is,
and the preferred 21z. to SO. The preferred
exhibited better tone in the late dealings
and some recoveries in prices were made.
The closing was steady. with the net
changes slight losses in most cases.
Railway bonds were more active. with a
brisk foreign inquiry for the Northern Pa
ciffc issues The market was generally firm,
although some irregularities were noted.
The sales were s.4so.Ooo. The principal
gains were: General electric debenture
dves. 2; Northern Pacific seconds, st. Paul
frsts, Southwest division, Ia, Northern
Pacific gold sevens and Cincinnati, Dayton
q Ironton ives. per cent The more note
worthy declines were: Virginia Midland
generals, 3; Union Pacific. AZ; trust re-
per cent.
Government bonds were quiet and steady
on dealings OF $4,000. Business in State
issues was more extensive. amounting tc
$4,000.
The following table. prepared by L. w
Louis, Room il. Board Of Trade. shows ths
range Of quotations.: Af
Omen High Low Clos