The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-21
SUGAR is SENSATIONAL
TRUST SHARES BOUND UPWARD AND
THEN TUMBLE EIGHTEEN POINTS.
other Stocks Influenced to Some De-
gree by the wild Fluctuations
Local Markets steady.

At New York yesterday money on call was
strong at 4d5 per cent; last loan. per cent
Prime mercantile paper, 3kG4A per cent.
Sterling exchange was>steady, with actual bust
ness in bankers bills at "a. ssh for demand
and at s4.ssAG4SSla for sixty days; posted rates.
s4.s41s and A-ss58; commercial bills. As29iS21s.
Silver certificates. nomnally. eOq6olzc; bar sD
yer. 69Ec; Mexican dollars. 47&4c. At London bar
silver closed at q Sled an
Total sales stocks were sOS 400 shares. including
the following: Atchison preferred % 22o; Central
Pacific, 300; Burlington, 51s975; Manhattan,
80 220 Metropolitan Street-railway. $50: Reading
first preferred. 1859; Missouri Pacific. 1854 New
Jersey Central. 1920; New York Central, 2O45l:
Northern Pacific. IA 400; Northern Pacific pre-
ferred. 1892; Ontario & Western, 1890; Rock
Island. 1880; Union Pacific s7Oss; st. Paul. 12.4l;
Southern Pacific. ASS; Union Pacific preferred.
1866; American Steel and Wire, q 800; American
Steel and Wire preferred. 3.725; American Tobac-
CO. s4s7; Federal Steel. 1859; Federal Steel pre-
ferred e4s7; Peoples Cas- $4,000: Consolidated
Gas. s.711: Consolidated Fuel and Iron. S,1s5:
Brooklyn Transit 81 OS0: Sugar. 1s1. s31 Sugar pre-
ferred, $3.50; Tennessee Coal and Iron, %. $40.
The New York stock market. after sensa-
tional movement in Sugar and the local trans
portation shares, yesterday, closed weak, with
mixed net changes. Interest conferred largely in
Sugar. in which the transactions 49, 90.
with total of about 10000 shares. Sugar
opened with an advance of about eight points,
ran off 81. and then touched 1S2. with a suisse
quent plunge OF eighteen points, closing with a
net loss of about eight points. The extraordinary
movement OF this stock had a wide influence in
other directions. Brooklyn Transit was lifted
over six points and then lost much of the gain
Pronounced strength appeared in the Vanderbilts,
Union Pacific. Northwestern. the coalers and Chi
cago Terminal preferred, while some of the inter-
nationals made show OF strength in the early
dealings in sympathy with the higher range in
London Tobacco stocks were extremely feverish.
American Tobacco broke 6I2. rallied nine and left
off with loss of two. Continental Tobacco
slumped fourteen points and off three the
close. The liquidation In these stocks at
tributable to the reported formation of a new
opposition tobacco company. Manhattan retained
the greater part OF a four-point rise. There was
a disposition of the professional element to let
commssion-house purchasers have stocks and
subsequently. while Sugar tumbling and call
money reached per cent, prices freely
offered down. Standard stocks. while easing with
the recent market, receded in an orderly manner
and the reaction in those securities the best
did not exceed two points, except in special cases
Money on call toward the close eased with the
last loan at per cent. and offered 3. but the
market failed to respond to the changed condi-
tons due to the supply OF money offered and the
reaction was unchecked to the end. The strength
in Brooklyn Transit coincident with a pub
lished interview with the president of the Brook
Ign Elevated Railroad to the effect that ex-
change OF majority OF the Brooklyn Elevated
stock for Brooklyn Transit stock had been ar
ranged. The advance In Union Pacfcs and New
York Central timed with the announcement
Of the return OF the leading interest in Vanderbilt
stocks and gave rise to a renewal OF rumors that
Union Pacific might be absorbed by the New York
Central. The opinion expressed. because of the
action OF the market, that the rise In London,
which was purchaser at the opening only.
manipulated from this side to facilitate the
liquidation which evident In the market.
Bond prices We're raised generally, considerable
activity developing on the st. Louis Southwestern
issues Central Pacific seconds and Wisconsin
Central hrsts. Total sales. s3.3O4,ooo. United
States fours and the new fours advanced u and
the old fours u In the bid price.
The following table. prepared by L. w. Louis.
Room II, Board Of Trade. shows the range Of