The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-20
UNINTERESTING MARKETS.
Honey Easy and Stocks Considerably
Less Active than on Monday.
Flour Closes Dull, and Wheat Practically
Unchanged, While Provisions Are
Firm and q Shade Higher.
MONEY n STOCKS.

Dizziness a Feature of the Stock Market
Money E~asier-Bonds Quiet.
NEW YORK, May 19.-Money on call was easier
ct 102 per cent.
Prime mercantile paper, AIS per cent.
Foreign exchange quiet and unchanged.
The sales of stocks, to-day, were 167, 722
shares, including: Delaware, Lackawanna &
Western, Is, $50; Louisville g Nashville, 6.3l5;
Northwestern, IL, no; New York Central, %, 600
Pacific Mail, 1000; st. Paul, Is, Oe0; Union Pa
gIfe, 2s, $780,; Western Union, $500.
Government bonds have been quiet at IN
changed quotations, and easier. There was an
bdvance of per cent. in the price bid for cur
Fency skies. There were sales of the threes at
1884, and the fours, coupon. at 1915.
State bonds have been quiet and quotations
generally strong. especially for some of the
Missouri, Louisiana and Alabama issues.
The stock market to-day showed a sudden re-
lapse into dullness, with only limited fuctua-
lions in quotations. Only three of the usually
active stocks show changes for the day of as
much as l per cent, and those three stocks be-
long to the so-called Gould stocks.
The total sales we're 167, 700 shares. The re-
suit of the days operations is an irregular clos
ing of the list. about an equal number of stocks
showing advance and decline. For no cause
that became apparent to the street, Pacific Mail
wag weak during the forenoon and barely steady
there until about the close, when it again yield
cd a fraction, and is down this evening II below
yesterdays price. The present management is
issuing a circular asking for proxies TO be used at
she forthcoming annual election.
Rumors have been liz circulation for the past
twenty-four hours to the effect that a serious
hnA hAnA 1ina~-a-41 - H. -
Pacific office. 1t was stated last night that the
papers in this city and Chicago were to publish
q detailed account of the matter. 1t was said
the rumor was based on claims by the Kansas
Pacific income bondholders. The officials Of the
road make a most emphatic denial of the whole
story, saying 1T has no foundation in fact. A
dispatch was received this afternoon, from the
Union Pacific Office in Boston, saying the rumors
Of a defalcation in the commpany's Office was a
pure fabrication. Friends of the company be-
ieve the story was started by the bears in
|kheir desperation for some means of depressing
prices.
There was a great demand tor Union Pacific
stock after the opening of the board this morn.
ing, which came principally from the short sales
made yesterday; but the price remained strong,
and during the day it advanced II per cent, and
closed with a gain of ] per cent. Lackawapna
waR steady at a fraction above 103, with sales in
the morning, seller sixty days, at LOG. The
erangers We're quiet and strong all day, and
elesed with olly a slight advance over yesterday
evening. New York Central also showed come
strength, and closed with q gain of ] per cent.
II is stated that $26, 600, 900 Of the stock is en-
Abered with Morgan & Co, London. There
b an effort being made on the other
side to secure control. The bears, late in
the afternoon, made an attack all along the line,
which led to the weakness in most of the
stocks in the last half hour. Rumors of a con-
eerted bear attack were again in circulation
This evening. Nevertheless, the bulls claim that
the market is heavily oversold, and that they
have it so we'll in hand that the movement of
prices must be up for some time.
The railway bond market continues active.
and is influenced apparently very little by the
stock markets. The total sales to-day were 81
l9O, 600, the business being very well distributed,
and prices this evening show irregular changes
as compared with last previous sales.
The market closed with the following prices
bid: