The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-16
WEAK ANDSTRONGBYTURNS
Such Was the Reported Condition of the
Chicago Grain Market Yesterday.
after Slight Fluctuations Prices Close Steady
at the Lowest Point of the Day-Pro-
visions Dull and Lifeless.
MONEY AND STOCKS.

Less Activity in New York, but the Market
Shows a Strong Undertone.
New York, May 15.-Money on call was easy
ut per cent.
Prime mercantile paper, 405 per cent
Foreign exchange was active and firm at 81 66s
Cor sixty days, and 81 8sa for short sight.
The total sales of stocks to-day were 1884, TAO
shares, including the following: Delaware Lack
swanna & Western, 1850; Lake Shore, 1870;
Louisville & Nashville 1000; Northwestern
20, 23O; New York Central 22,SOO ST Paul.
q, AGO; Union Pacific, 29.560.
There is no change in quotations for govern
nent bonds, except an advance of in the reg
lstered four per cents. There was sale of reg
istered four and-a-halfs at ill., and of tours,
eoupon, at 1919.
State bonds were very dull and generally I'M
changed in quotations; Louisiana sevens, consols,
however, are up per cent. in the price bid, and
Michigan sevens are 2 per cent lower.
The stock market today has been less active,
but it has exhibited strong undertone all day.
The news this morning was all of a character
favorable to higher prices. The settlement of
the troubles of the different railroads west of
Chicago was accepted as an assurance of better
rates for long time to come, and the ''bulls'
were correspondingly more confident Unfavor
able reports from Europe regarding the Anglo
Russian war rumors, which were received on the
street during the forenoon, also had slight in
auence. The announcement, however, that
there was a decline of per cent. in British con
before 3 P. NJ The activity in the afternoon
was stimulated by the publication of a report
that east bound freights from Chicago had also
been fixed at fifteen cents per 100 pounds,
which is a considerable advance over
The rates at which freights have been
coming forward of late although it is below the
last tariff rate. The bulls" claim that all that
il now necessary to complete restoration of
confidence and very decided advance in prices
is for the Vanderbilt and West Shore parties to
settle their differences. Lackawanna continues
60 lead the active list, about one-fourth Of the
days business being in that stock. Most of the
toaning rates for use of Lackawanna were made
et lie, but m the afternoon. the rate fell to
S32. In the last hour the stock yielded q frac-
sion, and closed with net advance of ls New
Of IL. the stock being conspic
uous for its advance late in the day. The
remainder of the active list is fractional parts
of per cent, the market closing steady at or
within fractions of the highest prices of the day
Union Pacific was also active, and during the
afternoon decided effort was made to break
Che price by creating the impression that a
large amount of long stock was being offered
but the movement was not successful Ii is
claimed by the friends of the company that the
bonds held by the Union Pacific, which are to be
sold to pay off the floating debt, viii be taken by
June l. The contract between the Pacific rail
roads and Pacific Mall is also expected to be
completed in the next ten days The total sales
were 194, 755 shares and after Lackawanna the
most active stocks We're Union Pacific, St Paui,
New York Central and Northwestern, in the
order named. The remainder of the list con-
eibuted only about 80, 600 shares.
The railway bond market has been active, the
trading being we'll distributed, while there was
some show of special activity in the Denver
6snes and about the usual amount of trading in
Erie seconds, new.
The market closed with the following prices
bid: