The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-11
NARROW STOCK MARKET
SUGAR DOMINATED, AND ALL THE
INDUSTRIALS SUFFERED.
Little Support on Account Of Evident
Clique Northumberland Markets
u Trife More Active.

At New York yesterday money on call
was easy at 114d2 per cent; last loan, 1A;
closed, offered at 112a2 per cent.
Prime mercantile paper, 3d4 per cent
Sterling exchange was firm. with actual
business in bankers bills at siS614@4.s624 for
demand and at s4.s4ss for sixty days; posted
rates. s4S51a and $4.s71z44.SS; commercial
bills, A.s3lz
Silver certificates. 6444a65Ac; bar silver.
s45sc; Mexican dollars. 5OAc. At London
bar silver closed at % I1-16d per ounce.
Total sales of stocks were 134, sos shares.
including: American Tobacco, 1880: Amer
lean Sugar So 200; Burlington, 1890; Chicago
Gas, n,sG0; Delaware & Hudson, $500:
Northern Pacific preferred, $500; Reading.
$500; st. Paul. $500.
The New York stock market continued
within the same narrow limits yesterday
that have characterized it for some time
past. the trading being almost wholly con-
fined to the industrials. with little e-idence
of any demand or inquiry otherwise than
by the room traders seeking a, days margin
of profit in manipulation of the stocks. Su-
gar dominated the market for miscellaneous
securities, sympathetically owing to the
large volume of the trading in that stock
but railway shares. though the transactions
in them were of small amount, showed a
disposition to move Independently of the
overshadowing industrials. The bear attack
on the industrials was resumed with the
opening of the session with renewed vigor
and succeeded in depressing Sugar rs. To-
bacco III and Leather preferred 1 per cent
The subsequent fluctuations IN these stocks
were very marked, being caused Ey the
covering of the shorts. There nothing
them and they seemed SI 10 be left to the
course of manipulation. A clear idea OF the
narrow dimensions of the market VIII be
gained from the fact that out of total of
13S.000 shares sold on the exchange to-day
about %, 900 were of the industrials Sugar,
Tobacco Leather and Rubber, ard 5000 of
these shares were of Sugar. all sorts of
rumors and reports were used to press
down the price OF these stocks. the Irincipal
apprehension concerning them being in re-
gard TO the trust investigating committee
The pressure against Rubber was particu-
larry severe. the common stock yielding rs
and the preferred per cent, With a final
recovery of per cent. The Influences on
this stock were reports that certain of the
Rubber properties were 10 close down and
that opposition by competitors Vas likely to
develop There were also sharp aeclines in
the anthracite coal group; The railway list
was well sustained bv late adv teS of a
strong and higher market for American Sc
curities abroad in consequence of an i'm
provement in the political outlook. The
very favorable traffic statement Of st. Paul
for the first week in February, showing an
increase of 1928. also helped prices of
railways. notably OF the granSerS. The i'm
portance sought to be attached ty the bears
10 the reported serious illness Of President
Roswell G.. Miller. of the ST. Paul, was off,
set by the traffic statement. There were
some foreign sales of the stock. but il was
well sustained throughout Sn1 closed un-
feature in the days business and the
price moved widely. according to
the tenor of advices from the
Nothing authentic as to the annual report
was received up to the close of business
but the bears were inclined to attach inn
portance to the rumored ACKNOWLEDGMENT
OF the steel rail pool and the reports of
strained relations between the Illinois Com
pany and the Carnegie-Rockefeller inter-
eStS, subsequently diScredited The stock
fell lls to S2ls. rallied TO SAG and reacted
TO 3312. The alleged unsatisfactory situa-
ton OF the steel trade generally also af-
forded pretext to successfully ATTACK Colo
RADIO Fuel, which was depressed IL per cent.
The price OF Sugar rallied in the final hour
Ia. TO IFS. on reported advance in the
price OF the product and on extensive COW
ering by the large short interest Tobacco
gained IN ard other shares important frac-
steady.
The bond market continues TO maintain
decided undertone OF strength despite the
weakness apparent at times in the share
principal liens for foreign interests encour-
ages better demand by local investment
interests. which is reflected in higher and
wider market generally. Some weak spots
are disclosed through specific Developments
but changes generally are in the direction
OF Improvement. The announcement that
mittee had accepted the notifications in
the plan which embraces an exchange of
the bonds for 20 per cent i'm the new tours
and 100 per cent. i'm preferred stock insti-
tuted good inquiry for the mortgages
which rose per cent. Ohio Southern firsts
were coEspicuousy weak on the hitch in
the soft coal agreement and lost pa per
cent The sales were s.. 032. 600. other note
worthy changes were. AdVanceS-Utah
Southern extension fives. trust receipts .;
Georgia Pacific firsts and Omaha & St
Louis nrst trust receipts. IL. and Ohio *
Mississippi seconds. and Western refund
Ing fourS. per cent. Declines-Sta ndard
Rope skies. per cent; Fort Worth x Rio
Grande firsts and Toledo. St. Louis < Kan
saS City first trust receipts. ?; Susque-
hanna & Western fiveS. IL. and Hooking
Valley fives. St. Louis Southwestern frsts
and St Paul. w. * NJ. division fives.
per cent
The government bond market was active
but values were Irregular with Il lower
tendency. The glut of money at New York
showed wider market for these secur-
titles. which are being largely taken by
banking institutions. The sales were S113. 600
The followins table prepared by L. w Louis
Room II Beard Of Trade. shows the range Of
quotations: