The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-06-10
STOCKS BOOMING AGAIN
DOLEFUL TALES ABOUT SUGAR MADE
BEARS TOO CONFIDENT.
Smart Gains I'm the Entire List and
Closing Prices Near the Top
Local Markets Active.

At New York yesterday money on call
was steady at 2Gzh per cent; last loan,
21z per cent.
Prime mercantile paper. 3AQ4 per cent.
Sterling exchange was easier. with actual
business in bankers bills at s4.s7ssd4.s7s for
demand and s4.S%9IS57s for sixty days;
posted rates, s4.S6lka4s and Sa.S; CONNER
cial bills, s4S5A.
Silver certificates, 6od62c: bar silver. 6Osc;
Mexican dollars. 4s1ac. At London bar sill
yer closed firm at q 15-16d an ounce.
Total sales OF stocks amounted to Cos. 500
shares, including: American Steel and Wire.
s.. 800: American Sugar. 81. 300: American To-
bacco, $3.50; Anaconda, 400; Atchison pre-
ferred. 1850; Brooklyn Rapid Transit, 49,
900; New Jersey Central, $500; B. & o., A.
200: c., r. /. & Pacific, 400; Consolidated
Gas. 1890: Consolidated Tobacco, 1900: Del
aware, Lackawanna & Western, 7.7oO; Fed
eral Steel. 1880: Louisville & Nashville g..
600: Manhattan, $500; Metropolitan. 1900;
NJ. X. & T. preferred, $500; Missouri Pa
cific. $500: N. Y. c.. $500; Northern Pacific.
$500; Ontario & Western, 22,700; Pennsyl
vania, 5000; Peoples Gas, 14.200; Reading,
$500; Reading firsts preferred, 1900; Read
ing seconds preferred, 800; Southern Rail-
way preferred, 1900: Union Pacific, $500:
Union Pacific preferred. 400; United States
Rubber. 1900: Wisconsin Central, new issues,
300.
Late yesterday afternoon occurred one of
the slaughters of the innocents around the
Sugar post on the floor of the New York
Stock Exchange which have come to be
looked for as periodical incidents in the
history of the exchange. For weeks there
have been direful predictions that the end
of the Sugar company as a dominating fac
tor in the refining industry was at hand.
the fight of its life was on its hands. that
the suspension of dividends was imminent
to carry on the war, and all sorts of dis
astrous predictions. Gentlemen supposed TO
be versed in the inside affairs of the COM
pany have either been silent with ar ex-
preston of plaintive sadness. or have free
ly admitted their conviction of the truth
of the worst that could be said. Many per-
sons. attracted by the prevailing high level
Of Sugar. considering these conditions. have
sold the stock very literally with the ex-
pectation of buying back when the col
lapse came. A great many of these bought
their stock to cover short contracts yester-
day at a level nearly 20 points above that
at which the direful predictions had car
ried it, Inside interests became averse to
selling and held out tenaciously for the
higher price. This. exciting and painful in
cident closed a day of uniform strength
throughout the market for securities. The
action Of the market was very similar to
that of Thursday, the early strength GEN.
tering in the New York Traction stocks
and grangers. The bears made an ineffec-
tual attempt to check advance py raiding
down Continental Tobacco over 8 points.
They turned Sugar backwards IL points,
but without marked effect on the general
list. Later there was realizing in the New
York Traction groups. with reactions of
about point. The vigorous strength devel-
upward. The same thing happened in the
last hour, when the professionals took
profits in Sugar and the Traction stocks.
The recovery began in some of the obscure
Consolidated Gas. s points. and the WILSON,
sin Central. new issues, 2Q2l2. Peoples Gas
and Steel and Wire also came late into the
advance. the latter on a published opinion
common stocks. Then came the rush in
Sugar, which made the last prices the high
est of the day The net gain in Sugar is
ropolitan Street-railway. SIS; Manhattan.
points; in the coalers. from ~ in Della
ware & Hudson and NeE Jersey Central to
stocks a point or over. The announcement
of further shipments of gold was without
the eosnued large sens for london ac
count. An improved tone for the copper
properties was an incident in the days
market. ANACONDA rising 2as.
more active and prices tended upwards.
There was very large buying of the Read
ing and Colorado Southern issues. Total
fives advanced u. but the threes declined Il
in the bid price.
The following table, prepared by l. w.
Louis. Room II, Board of Trade. shows the