The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-21
SUGAR CONTINUES UP
HIGH RECORD MARK PLACED AT
TAG Ia ON HEAVY TRADING.
Stock Traders Believe the Trust Has
Secured IA Highly Acceptable Sched-
uIe-LocaI Markets Active.

At New York, yesterday, money on call
was easy at 1 per cent; last loan 1; closed
offered at per cent.
Prime mercantile paper. 3G4 per cent.
Sterling exchange was frmer, with actual
business in bankers bills at $4.87AQ4S712
for demand and at $4.SGAq4.S613 for sixty
days; posted rates, $4.S704.871a and $4.SSQ
4.SS12; commercial bills $4.S5.
Silver certificates, 6OAQ605sc; bar silver,
60Bc; Mexican dollars, 461sc. AT London bar
silver closed uncertain at q 9-16d per ounce.
Total sales of stocks were 379, $40 shares,
including: Atchson, 1885; Atchison pre-
ferred, 1861 Chesapeake & Ohio, 1850; Chi
cago. Burlington & Quincy, 1896; Louis
Vile Sc Nashville, isl; Manhattan L, 2,O75;
Missouri Pacific, 3,150; New York. Susque-
hanna & Western, 1920; New York, Susque-
hanna & Western preferred, 4972; Reading,
is, 935; Rock Island, 1885, St. Paul, &c, 210;
St. Paul & Omaha, 5,420; Wheeling & Lake
Erie. 3,275; American Tobacco, 1880; Chi
cago Gas, 1905; Lead. 2O,O9S; Pacific Mail,
1,575 Sugar, SS,4S3; Sugar preferred. 3.4lS;
T., c. & l., $3.50.
The New York stock market yesterday
after considerable early activity and
strength, closed firm below best prices but
at fractional net gains. The strength in
Sugar Lead and Tobacco was in antcipa-
ton of the benefits to be derived from the
new tariff The sugar company having Sc
cured most acceptable schedule passed by
the House and presented to the Senate,
failed to justify the fears of a sensational
break entertained by some traders after
Mondays S-point advance, and on the con-
trary, opened higher IA per cent. Suisse
quently it scored an extreme gain for the
day of AZ, establishing a new record of
1854 and thereafter gradually declining,
closed with a net gain of "a. Lead COM
mon and preferred, scored an extreme rise
OF per cent. on enormous dealings. Com
mon, however, later lost half its gains. To-
bacco common only temporarily held it's l
point advance at the close, but the pre-
ferred remained per cent up. Generally
speaking the iHdustrials were firm on the
winding up of the revision of the tariff
Changers slid of somewhat on profit TAX
ing. but the list generally disregarded Lon
don S changed attitude in Selnng Ameri-
cans. Reading first preferred on large pur-
chaSeS croSSeu 81 rumorS OF a possible
dividend provided the coal road continued
TO be operated harmOniouSly. Generally
speaking, fractional recessions followed the
noon hour en- successful traders converting
paper profits into bank deposits. Prices
We're from time 10 time marked upward,
but the tendency TO advance was checked
by threatened Democratic opposition to a
prompt conclusion on the tarm bill and on
fumors or the possibility OF the export or
Sold due TO the large ante-tar1H bill impor-
tations, especially of sugar, ana to dis
charge obligations due Europe for returned
American securities. The reported enor-
nous decrease in the worlds visible supply
and the consequent rise in wheat before
the close influenced a rally, as it would
mean decreased demand for our grain, and
indeed, the large increase OF exports on
general merchandise for the week shows
the present demand for our product.
The bond market continued to advance
toward a high level on purchases which
included moderate sprinkling of the gilt
edged issues. The inquiry for continental
account was mainly conferred in the specu-
lative mortgages. with changes generally
narrow. The aggregate sales were 81 $780,
O0O
Government bonds were pressed for sale
and yielded fraction on sales of $17 Co.,
The following table, prepared by l.. w
Louis, Room H. Board of Trade. shows the
range of quotations: