The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-14
ANOTHER SUGAR JUMP
HIGH RECORD ON 'CHANGE BROKEN
BY THREE FONTS YESTERDAY.
News from Conference Committee
Markets Active and Firm.

At New York yesterday money on call
was easy at 1Q1A per cent; last loan, l;
closed offered al 1 per cent.
Prime mercantile paper, Sq4 per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4S7Q467A for
demand and at 81. S664S6A for sixty days;
posted rates, $4S7G4S742 and $4.SSQ4.SS12;
commercial bills $4.S5Ac.
Silver certificates 6O7sa6O7sc; bar silver
dull at q 9-l6d per ounce.
Total sales OF stocks were 1902, 65S shares,
including the following: Atchison seconds,
3110; Burlington & Quincy, 1852; Della
ware & Hudson, 5000; Louisville & Nash
vile, $3.50; New York, Susquehanna &
Western preferred, 1920; New Jersey Cen
trail 9O127; Northern Pacific preferred 81,
49, Ontario & Western, 1920; Oregon Short
line. 1910; Reading, $3.50; Rock Island T.
140; St. Paul. 1865; American Tobacco, H.
1875; Chicago Gas 1896; Sugar, $685. United
States Leather preferred, 1888; Western
Union, 4,41O.
The healthy disposition of the security
market yesterday the New
York Stock Exchange, evinced by
notable and widely distributed adj
vances, especially in the coalers,
stocks, was due to various favorable influ-
ences of general effect. The coalers easily
responded with rise extending to 2 per
cent. to the Lehigh Valleys election of of
ficers and directors known to be acceptable
to the controlling interests in other anthra-
cite properties and to the harmony in OPP
Grafton expected to result. The judicial in
terruption of the proposed inquiry into the
anthracite trade under the antitrust law
enacted by the last New York Legislature
NOT only nau BOou ellecl on thc Codle!s,
but strengthened the whole industrial
vorable to the refining interests to the eff
feet that compromise sugar schedule
pleasing to the company would likely be
agreed on by the conference. The result
was that Sugar scored another high record
price, touching 1875. or nearly 3 points
above the lottiest price previously, which
was 134$4. The suspension of house sup
posed to have been hurt in carrying on
large account for an operator on the wrong
side of rising market only temporarily de-
PIesseu sugar. II Is no" SupPOSed lhdI
Mondays sharp jump ineSugar was part
ly due TO knowledge of this operators posi-
ton. The announcement of the failure
caused a reaction in the market, which car
ried prices generally fraction below Mon
day nights close. The fluctuations in Sugar
were most erratic md wide attended by
heavy covering of shorts. Hesitation ensued
and then there was increased activity and
strength. The transactions in the stock
comprised fourth of the total transac-
lions in ali stocks, over $4,000 shares being
sold. After a Inomentary decline at the
opening the stock sold up rs above Mon
days close, reacted 21s and then partly re-
covered closing at point advance CHI
cago Gas ruled strong on favorable Chi
cago dispatches. Good crop and weather
advices bettered the grangers a sharp frac-
ton Susquehanna q Western preferred
gained 2ls, Northwest preferred and Della
ware & Hudson each. Other stocks not
hitherto mentioned which recorded gains OF
point or more We're Tobacco, Canadian
Pacific, New Jersey Central first preferred
and second preferred, Minneapolis x st.
Louis second preferred, Pullman, Rio
Grande Western, Spirits preferred, Leather
preferred and Oregon Short-line. The clos
ing was strong and generally at best prices,
which were a fraction above Mondays
close in cases not specified above. Marked
exceptions were Brooklyn Rapid Transit
and Des Moines & Fort Dodge which closed
"a and u, respectively, below Monday.
Considerable strength was displayed
among few of the Industrial mortgages,
but the general market also displayed an
improved tone on moderate purchases.
Business somewhat more general in
the low priced securities with the liens of
some recently reorganized properties
Stunning prominence. The aggregate sales
were 81 1903 900. Government bonds were
practically neglected but ruled steady at
Mondays closing prices.