The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-26
S%ACCHARINE AGITATION
SUGAR UNSETTLED THE ENTIRE
NEW YORK sTOCK LIST.
Changes of the Day Were Badly
Mfxed-Small Gold Shipment-Lo-
cal Business Is Booming

At New York. yesterday. money on cali
was steady at 2Aq2s per cent; last loan.
" per ce&s.
Prime mercantile paper. las per cent.
Sterling exchange was easier, with ac-
tual business in bankers bills at $i.SS0
t.ss1zc for demand and at $4.S41z for sixty
days: posted rates. AS5z and SS9q4S9h;
commercial bills. $4sSQ4s4A.
Silver certificates were 5s%G6okc; bar sill
yer. 5szc; Mexican dollars. 47Ac. At Lon
don bar silver was q 7-16d an ounce.
The stock market was in large part con-
fined to Sugar yesterday, the feverish and
violent fluctuations in which kept affairs
so unsettled that the operators hesitated
to make ventures and the volume of deal
1ngs fell TO small proportions. There was no
actual news development to account for
Sugars erraiic course. though the board
room was flooded with rumors all day of
. settlement of the trade war. absorption
of rival refineries and so forth. 1t was
pretty evident that these were set ahoat
by the manipulators for a rise, which was
directed against the short interest reputed
to be largely concentrated in Boston. The
stock sold as low as los in the morning on
supposed indications OF fresh vigor in the
[4a0t wall dlu III ne dllcIHoOH II got up
to 115h- 1t closed at a net gain of 21s. The
general market sold off after the opening
In sympathy with the break of Sugar.
which effectually dominated the tone of
the market all day. When Sugar rebound-
ed the room traders all turned to the bull
side and kept prices up on a small volume
of dealings. There were movements in
special stocks designed 10 help on an adj
vance, notably in Missouri Pacific. Penn
~sylvania. Wabash preferred and the gran
gers, but IL was noticeable that the buy
ing emand showed a marked falling off
on any advance Buying orders came in
on the early decline, but later in the day
the market continued dull. The apathy Of
the demand caused realizing by the room
traders and a late reaction, which wiped
out many OF the gains. The closing was
easy and the net results for the day were
much mixed The introduction in Congress
OF a resolution for a committee to inves-
tigate the steel and wire episode and
the New York Stock Exchange may have
had some influence on the late reaction.
The announcement of a small engagement
pf gold for export 10 Europe had very lit
tie influence. The gold. which amounted
10 $4,000. Is believed TO be destined for
Paris Sterling exchange was distinctly
easier. the rate for demand bills falling &C.
This leaves the question OF further gold
exports more doubtful again. The lack of
= fast steamer this week Is offered by some
bankers as a reason for refraining from
shipping gold during that period. Dis
counts In London were slightly easier. but
money In New York also showed further
relaxation. loans for sixty 10 ninety DAYS
being quoted at 3 per cent. and four 10 six
months at 81 per cent. on mixed collateral
Tue gain by the banks from the subtreas.
cry since last Friday already amounts &c
over $2,000.0o0. But the subtreasury's debit
balance at the clearing house fell yesterday
below $1.O00,O00. for the first time in several
weeks. except when special operations in.
terveneG- The disbursements on account
o. government bond premiums from the
subtreasury are, In fact. declining, and thi:
source OF repienishment TO the money mar
ket Is likely TO be closed soon. A sharr
fail In New York exchange at Chicago wa:
also an Incident OF the day.
The bond market was rather quiet ans
Irregular. Total sales at par value wer,
S1,sso,000. United states fves declined 4 II
the bid price.
Following are the days share sales anc
the closing bid prices: