The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-21
THE MARKETS AGAIN LOWER.
Despite the Continued Bad Outlook for
the Winter Wheat Crop,
Wheat Yields and Closes Lower, After Stub
born Observation-Disclosures Quiet, but
Practically Without Change.


Money Easy-Stocks Dull and Altogether
Featurelesy.
NEW York, May 2O.-Money on call was easier
1t per cent.
Prime mercantile paper 405per cent
Foreign exchange steady and unchanged.
Bar silver $1.oz
The total stock sales to-day were 100, LA
shares including: Delaware, Lackawanna g.
Western, TO- IT, Erie 1850; Lake Shore, II, 999;
Louisville & Nashville. s. l55; Northwestern
$780, New York Central, 1858; Pacific mail.
$3.50; ST. Paul, 1870; Union Pacific, 1S,045;
Western Union, 4,78O
There is no change in government quotations,
except decline of ! per cent in the coupon
fours There were sales of the coupon fours at
1220 1917 per cent, and the coupon four-an9-a-
half per cents at 1l2ss.
There is moderate demand for State bonds,
and in some cases quotations ars higher
especially in some of the Alabama Arkansas
and Michigan issues, while the Tennessees are
weak. There was sale of North Carolina
aixes at 1104.
The stock market has been very dull all day,
and has failed to develop any feature of special
the highest and the closing prices within a
small faction of the lowest of the day, and yet
the declines are only for fractional amounts,
except in two or thee cases. Pacific
Mail was the only prominent exception
to the general rule by showing an
advance of lie, and closing with gain of &c, the
strength in the market being directly attributed
toreports that satisfactory agreement between
the company and the Pacific railroads was on
the eve of final settlement. It is generally I'M
derstood the officials of the different companies
are in session this afternoon, but nothing official
was learned before the close of the board. The
weakest stocks were the Vanderbilts, especially
Lake Shore, which, after declining from 521 to
5l4c, closed with loss of 1sc, at 524c It is
claiYned that both the clears" and the Wander.
bilt party were sellers of this stock. New York
Central is down &c. The grangers were
weak at the opening on reports
again between roads leading westward from Chi
cago. Dispatches were also received from the
West and circulated on the street that rates be-
tween Chicago and the seabord by lake and rail
are now lower than at any previous time in the
history of the country. Northwestern shows q
loss of and St. Paul per cent. Lackawanna
was very quiet, and at the close per cent lower,
while Delaware and Hudson shows a loss of
Sper cent. The other notable changes made on
very small sales, were a decline
nm advance of per cent in Canadian Pacific.
Notwithstanding the dull and dropping charac
ter of the market, the bplls cainrh the stu
attio;s. H. deciuedly in their favor, as there are
over $ol, uUU, UUU surplus IN the banks belonging
to the Clearing house Association, and the bond
market shows unmistakable evidence of an in
yestment demand, which is interpreted as mean
ing desire on the part of the capitalists to find
safer investments for their funds. They also
claim that the short interest is still very large.
The total sales were only 100 600 shares de-
crease from yesterday of AZ 900 shares. Union
Pacific and Lake Shore were the most active
stocks, with sales of only $4,000 shares each.
The railway bond market continues active.
total salas ware 81 1f4 000 an increase over
yesterday of 472 900, but more than this increase
is due to the greater increase in activity in Erie
seconds, new, the sales Of whichfwere 1888 GOO
Prices are generally higher, but in many cases
the advances are for small fractions. Erie Sec
on6s were an exceptlon' seiiing GOWN 70 49s' al
The market closed with the following prices
bid: