The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-02
ANOTHER FALL In PRICES,
The ''Bears" Make a Determined and
Very Successful Raid on Wheat.
The Decline Accompanied by Great Excite
ment and Heavy Sales OF Long" Wheat
Steady Feeling in Provisions.
MONEY AND STOCKS.

Increased Activity in New York, Accom-
panied by Lower Prices.
NEW YORK, June Money on call was easy
Mt per cent.
Prime mercantile paper, 4a5 per cent
Foreign exchange was quiet at 81 SCI for sixty
days. and $4.sS for demand.
The total sales of stocks to-day were 93,036
shares. including the following: Delaware
Lackawanna & Western, 1870; Kansas & Texas,
$500; Lake Shore, s,507; Louisville & Nashville
$500; Northwestern "a, 400; New York Central
1897 Pacific Mail, 1898; St Paul, 90, sos; Union
Pacific, 20. 730; Western Union, 6,093; Northern
Pacific, 800.
Government bond quotations are firm, the
three and four-anda-half per cents showing
the greatest strength. Transacticns have been
light
State bonds have h.een very dull.
The railway oond market was less active until
late tbs afternoon, and in most weak.
.ne tosal sales for the day were 81, 4O3 900; but
of this over 5000, 600 consisted of transactions in
Erie seeonds-$6 000-and West shore, $685.
600. In the last hour business was well dis
tributed and prices were somewhat better, but
the closing quotations were oftener below than
above the last previous sales. Erie second con-
soils sold down to 454 in the forenoon, and were
comparatively quiet until during the last hour
when they rallied to 462. closing unchanged at
that price. The West Shore firsts were steady
In the morning, and strong in the afternoon,
closing with an advance of !, at 81
The stock market has been more active to-
day, but the increased business was at the ex-
pense of further decline of the quotations for
the most active stocks, portion of which. how
ever, was recovered shortly before o'clock
The days business consisted of only four hours,
the board not opening until II o'clock, which
will be the case hereafter each Monday during
the summer months. Prices this morning were
generally to per cent. lower than the clos
ing quotations last Friday evening, and
considerable weakness was devel
oped in early dealings, the decline
being led by the LackawanEa The weakness
developed in this stock had depressing effect
on the whole list, except Union Pacific, which
was well supported for time. The other Gould
stocks were not active, and the loss quotations
was only small. Renewed weakness was devel-
oped after midday in Lackawanna, the stock
selling before l o'clock at 99s, decline from
last week of Il per cent. After l o'clock, how
ever, the stock rallied to 10ls, sold quickly at
1901, and then more slowly declined to 1908, and
closed at 10l4, which is higher than Fridays
close. There was considerable strength developed
final dealings in Northwestern, which rose in the
last hour from 90 to 9244, and closed shade low
er, with loss of !. St Paul is down per cent
Union Pacific was well supported all day, and
did lot sell below 52a from which it rallied to
and closed at the opening price, while Pacific
Mail was dull and heavy. About "a per cent of
the days business consisted of trading in Lacka-
wanna, st. Paul, Northwestern. Union Pacific
and New York Central, the sales ranging from
40, 700 for the first, to 1900 for the last men
toned stocks.
The market closed with the following prices
hid.