The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-01
HEAVY STOCK TRADING
SUGAR EXCITED AND CLOSED Al
MISUNDERSTANDING FIGURES.
Other Shares FIuctuated Widely and
with Little ReguRarity-LOcaI
Business Situation.

AT new 1OIh yesterday ulOu6J Oi NcA
was easy at 1G1h per cent; last loan, IA
per cent; closed. 101A per cent.
Prime mel camille paper, 315@414.
Sterling exchange was slightly easier,
with actual business in bankers bills at
$4S55s@4.s5a4 for demand and at s4.s314G
4.s91a for sixty days; posted rates. $4.S414@
4.S514 and $4.s613Q4S7; commercial bills,
S4S2la.
Silver certificates, 52@52a4c;. bar silver,
6lA Mexican dollars, 41Ac At London bar
silver closed uncertain at 24d per ounce.
Total sales of stocks were 53SS79 shares,
including: Atchison preferred, 2l,225; Ches-
apeake & Ohio, 14,150 c.. b. & O., 25,S42
c., c., c. & st. L., $685. Louisville & Nash
vile, 23.4S5; Missouri Pacific, 1885; Mis-
souri,, Kansas & Texas preferred, 4,26O;
Northern Pacific preferred. 1866 Ontario &
Western, 400; Reading, 1S,475; Rock ISL
and, 1868; st. Paul, 2S,190; st. Paul and
Omaha, 3,17O; Southern Railway, 7,495;
Southern Railway preferred 7,I2O; Texas &
Pacific solo, Union Pacific 1900; Wabash
preferred, s,735; American Cotton Oil, 1900;
American Tobacco, 1887; Bay State Gas,
10 SIS; Chicago Gas, 9,545, Laclede Gas, y
go Pacific Mail 1855; Sugar, 1905; Ten
nessee Coal and Iron 14,2S0; United States
Leather 4,73O; United States Leather pre-
1eETGu, 0,0ZZ, w SSIeTIl OiilOlIs 1f,otVs ShI[dSO
Great Western, 30,155
Yesterdays New York stock market was
characterized by great irregularity. prices
of many stocks remaining remarkably
stable, even on large transactions, while
the price movement of others was wide and
erratic to the last degree and quite indie
pendent of any general influence or har-
Inony of tendency with others Sugar was
the sensational feature and covered a range
OF nearly points during the DAY. 1nere
was no news regarding the stock received
during the day that was not known at the
opening, but the speculative traders drew
some deduction from the IactS ALREADY
known that led to very excited trading in
the stock. The speculation turned on the
probable benefits to the industry from the
Treasury Departments Interpretation of
the clause of the tariff bill discriminating
against sugar from countries that pay an
export bounty. The belief that this clause
would be administered so as to insure the
exclusion from competition of Dutch re-
fined sugar gave Sugar stock its Strength.
The stock logged along very comfortably
on the up grade to noon, covering about
a point in the rise. The price then made
a sensational rush upwards by leaps of
a. " and even a full point at a time to
1854, the reaction being comparatively
small. Just in the closing transactions the
price jumped again to 157 and fell back
point. Tobacco also rose "a in the final
transactions, apparently in sympathy with
Sugar Sales of Sugar reached 10000 shares.
The usually active railroad shares which
showed a free price movement were the ex-
CeptiOn to the rule. The decline III the
grangers carried Burlington down nearly
a point, but the ret changes in the group
do not exceed u, the amount of the gain
shown by Rock Island, Omaha and Chi
cago Great Western. The same mmobiiity
was manifested in the internationally listed
stocks, Atchison preferred, Chesapeake q
Ohio. Northern Pacific preferred, Southern
preferred. Union Pacific and Wabash pre-
ferred seeming to be withheld from NOV
ing either up or down by some pressure.
The same was true of Louisville & Nashville
until late in the day, when the stock moved
up a point, but reacted partly Some of
these stocks were very largely dealt in,
but the transactions failed to affect the
price. Missouri Pacific exception
and moved up points somewhat Irregular
~. closing at only a slight reaction. The
so-called specialties were favoriteS in the
speculation, Pacific Mail gaining over
point, Chicago Gas nearly as much, and the
Cotton Oil stocks over points. Colorado
Fuel, IA; Consolida ted Gas about 2; De-
trot Gas, q Laclede Gas, 2% Metropolitan
Traction a point; Starch firsts preferred
the same; New Central Coal, Ia, and Ore
gon Navigation a point. The Lake Erie &
Western stocks continued their upward
course the common gaining 1h and the
preferred 2A. London was quite a heavy
seller. stocks sold for that account being
estimated at $4,000 shares.
In the bond market the sales exceeded
$4500.000 and were strong generally, es-
peciaily the Reading tours. Government
new tours were bid up Is.
The following table, prepared by L. W.
Louis. Room IL, Board of Trade, shows the
range of quotations.