The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-04-17
BRISK IN THE MARKETS
A Frantic Unloading of Tong" and
Heavy Selling of "Short" Wheat.
A Very Marked Decline from the High Prices
of Tuesday. a Portion Of Which Is
Recovered During the Afternoon.


the New York Market Opens Dull, and
Closes at Slightly Lower Prices.
New YORK, April 16.-Money on call con-
tinues easy at 1GI3 per cent, closing at l per
cent
Prime mercantile paper, 405 per cent
Bar silver, $l.073.
Foreign exchange was quiet and firm at I'M
changed quotations.; actual business was done at
$A85! and $4.87l.
The sales of stocks to-day aggregated 224, 9l3
shares, including the following. Delaware,
Lackawanna & Western, %, 700; Lake Shore,
/ 1900; Northwestern, 1890; New York Cen
trail, G, 900; Pacific Mail, $4,000; ST. Paul, %, 300;
Union Pacific, 81, 400; Western Union, 9,400.
Government bonds have continued quiet and
quotations steady, except for the threes, which
sre ac lower, at I013e bid. There was a sale of
the tours, coupon, at 1915.
State bonds quiet, but the Alabamas show a
slight advance in quotations, while Georgia
sevens are q shade lower.
Railroad bonds have been strong for amajority
of the issues traded in, with a well-distributed
business.
The market was heavy at the opening this
morning, with both bulls and bears selling-the
former to realize profts-and the early dealings
were accompanied by declines of a per cent.
This was followed by a moderate reaction, and
for the first hour the market became very dull,
and fluctuations were limited to a narrow range,
but the tendency was toward lower prices.
There was a little more life after IL o'clock,
accompanied by a show OF strength,
which was lost IN the latter part OF the day,
and the market finally closed irregular at prices
that are from to Il per cent. under yesterday.
The announcement was made during the day
that the Central Pacific railroad has not agreed
to accept the proposition embraced in the reso-
luton adopted by the Pacific Mail directors yes
terday, together with the statement by Mr.. Hunt
ington that he did not. think the resolution
would be accepted. This was the only news
to affect values. Mr.. Huntington said, how
ever, that the companies were work
ing tremendously at present, and, while
the Central Pacific had not been asked
to extend the subsidy to June, he thought
an extension would be granted if desired. The
market exhibits a strong urdertone, and resists
attacks with persistency. The bulls claim there
are very few stocks in the market. and that it is
heavily oversold. The only activity in to-day's
market was developed during the first two hours,
business thereafter growing extremely dull as
the day advanced. The total sales were ga, 923
shares, which is 13l 600 less than yesterday, but
days preceding. The trading in Union
Pacific, Pacific Mail and Lackawanna
continued to be features of the days dealings,
the sales of which amounted to about So per
cent. of the days business. Union Pacific
opened lower, at 47a, declined TO 46aa, rallied to
Az, sold down to 46sa, and back to 46a in the af-
ternoon. After midday it was less active, at
46s 0474 047, a net loss Of per cent. 1t is
stated that the company has settled all disputed
claims with the government by paving 1917 600
cash, and that its tonnage is 80 per cent.
greater than at this time last year.
Pacific Mail was unchanged, opening
Mt 55F, from which it fell to 545,
rallied to 55s, sold again at 543a, back to sc, and
Gl0ead at N a l0gg of 4 ppr cent Ilackawana
was prominent for its weakness in the forenoon.
In the afternoon it was very dull at a decline of
II. The other active stocks followed listlessly
in the wake of those mentioned, the grangers
being the next most active, with ST. Paul this
evening Glover, and Northwestern down 3. West
ern Union is also 7 lower; Central of New Jersey,
/; Chicago, Burlington & Quincy s, and Rock
Island, 9.
The market closed with the following prices
bid: