The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-05
LOWER PRICES ALL AROUND.
The Peace News Brings Comfort to the
Hearts of the "Bear" Operators.
A Decline of Six Cents in Wheat, as Com
pared with Last Weeks Prices-Proyis-
ions More than Usually Weak.
MONEY AND STOCKS.

MONEY AND STOCKS.
An Active Day in New York, Accompanied
by Weakness in Prices.
New York, May Mooney on call was easy
at ! per cent
Foreign exchange was dull actual business
being done s.. SO for sixty days and S. S for
short sight
The sales of stocks to-day aggregated 295, 472
shares, including the following; Delaware, Lack
awanna s. Western, 50, $40; Delaware g. Hudson,
1900; Erie, 1900; Kansas & Texas, 7,6O0 North
Rail. 200; st. Paul, 1880; Union Pacific,
22.70O; Western Union, 8,400; Northern Pacific
preferred, 5000.
Government bonds are unchanged in quota
tons, except an advance in the three per cents.
20 1922. There were sales of the coupon tours
at 1919.
State securities have been quiet.
This has been the most active
day on the Stock Exchange since the
middle of April. The total sales were
294,442 shares. The market was weak and more
active at the opening and. with the exception of
check in the decline after the first hour, it
throughout the day, the final quotations being
generally very near the lowest figures reached.
All the active stocks show very decided declines,
the prices this evening being from ! to per
cent lower than they closed last week The
trading, however, was confined principally to
seven stocks. in which the business ranged be-
tween $1,000 and 20, 700 shares, and the
total transaction in which aggregated
226, 700, or nearly n per cent of the days
business. These shares were Lackawanna, ST.
Paul. New York Central Northwestern, Lake
Shore, Union Pacific and Pacific Mail, in the
order named. First prices this morning were
from / to 4 per cent lower than the closing
quotations on Saturday. and the decline Of the
first hour amounted TO as much as to per
cent. The early decline was facilitated by the
European war news, which was of q decidedly
peaceful character, with an advance Of over
per cent in British consols from the prices pre-
vailing last week, whenever the prospects of war
were threatening. Tho decline was checked after
the first hour, and the market became dull and
firm. BY midday it was again weak, and
without any sudden break it slowly continued
to yield in quotations throughout the afternoon.
Considerable activity was displayed in the last
hour during which the sales amounted to over
81, 500 shares, or over 81 per cent of the days
total trading. The belief on the street this even
ing is that some of the leading bear" operators
have been heavy sellers throughout the day. al
though the bears claim that the 'bulls" have
aging rumors ahoat concerning speculative feat
ures The Gould stocks were pretty we'll sup
ported, and this was eona!!l!y true of tho grang-
ers, until ll::..er in the afternoon. when they
ssiso yielded, especially Pacific Mail, which fell
to SO and closed with q loss of 2 per cent. at
53A. Lake Shore is down 81. Michigan Central
3. Northwestern and Omaha preferred each 81
Lackawanna 2s, New York Central and Man
haitian consolidated each II, St Paul 1s, Union
Pacific and Reading each II. The remainder of
~ go. lsAA aI,r al Has
only stock on the active list which shows a gain
Is Consolidated Gas which is up per cent All
the Erie securities were weak, and the common
stock shows loss of Il per cent.
Among the early statements was one that a
receiver was to be appointed tomorrow for the
Erie. The company is having fight with the
Chicago g. Atlantic, the Fries extension to Chi
cago. the interest on the preferred mortgage
bonds OF which was not paid eitheron November ],
nor May ], the present management claiming
that agreement to pay this interest was illegal.
tits believed the Chicago 6 Atlantic will sue
the Erie Company, and the statement is made
that the original agreement was pledge of the
gross earnings of the Erie, and the New York.
Pennsylvania 81 Ohio 1.-THE old A. 81 G. W. on
hll business to and from the Chicago e. Atlantic
The amount Of the bonds is $4,000, 600. The
bulls claim, this evening, that all the large
'bear' operators have been heavy sellers of
stocks throughout the day, and that the
'shortr interest is now so large that any move
ment on the part of the bulls" would cause
q very decided advance in prices. They
claim that there is very little 'long"
stock to be shaken out by the raid, which has
been made especially during the afternoon, but
that the leading bulls are buying a scale
downward.
There were few sales to-day for account,
the first trading in this way the New York
Exchange
The total transactions in railroad bonds to-day
show an active market the sales amounting to
$1,S71, 600. an increase over Saturdays business
Of 1925, 900, but the sales of Erie seconds alone
were 81, 1867, 000 leaving only 1904 900 for the
mainder of the list traded in, There was no
epecial activity in any of the other bonds, except
little trading in the Nckle-plate firsts and the
West Shore firsts, the former of which developed
some strength
The marketc losed with the following prices
bid: