The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-19

An Unusually Active Stock M~arket-Bonds
Quiet-Money Easy.
New York, May 1S.-Money on call was easy
NJ per cent.
Prime mercantile paper, 4a5 per cent
Foreign exchange was quiet at 81, 86a for sixty
days and 81. $50 for short sight.
Government bonds are quiet at unchanged
quotations, except an advance of in the tours
and a decline of on the currency SKIES.
State bonds are steady, with sales of North
Carolina tax at 81, and North Carolina CONSOLE
dated fours at 87I.
The stock market has been unusually active,
Et times feverish. and somewhat irregular to-
day. With a few exceptions the prices this
morning were ! to / per cent. higher than they
elosed on Saturday, which was Immediately
succeeded by a decline of a small fraction
throughout the list, but after fifteen minutes
the rally was started, which continued until
midday. The highest prices were generally
reached about IL o'clock. The market then
gradually weakened, and continued so I'm til the
last hour, when it weakened materially, and
finally closed weak at irregular prices
ks compared with Saturday evening. While
Ehis was the general course of the market, some
Of the leading stocks furnished prominent ex-
eeptiors. New York Central was weak all day,
selling down in the morning to s32a, from which
tt rallied by noon l per cent, and then broke to 834t
before 2 o'clock. In the last hour it was steady
ut the decline, and closed with a net loss of l
per cent. Most of the active stocks touched
sheir highest prices about noon, but Union Pa
Ei6c in the forenoon rose only per cent, and
while the remainder of the market was resting
ut the advance, it rose in very large purchases to
81. There was an advance of ! in the
opening price of Lackawanna, at I.03a,
and it rose in the forenoon l per
cent. and remained about steady, until
shortly before 2 o'clock, when it yielded a frac-
hon, and closed with an advance of l per cent,
1t 49,, or a gain, as compared with the opening,
Of ! per cent. Western Union was especially
prominent for its strength throughout the day,
selling up Il, to 60, and closing with a net ad-
vance of !. The B. & Nj. Telegraph Company is
to have a new receiver. Pacific Mail and c., b.
b @. are up per cent; Oregon Navigation and
Omaha, preferred. each ], and Consolidated Gas
+ Northwestern and Louisville 81 Nashville are
down each !, and Oregon Transcontinental I,
while Lake Shore is unchanged. The total sales
were $4,000. which is the largest days business
for a month past; but of this amount Union Pa
eiic, L-acEawanna and st Paul contributed
nearly so per cent. The break this
afternoon was due in part to
realizing by some of the morning bulls,
such as are always ready to take a small profit.
Some of the small shorts have also covered, but
the leading bulls claim that the large bears have
Increased their short interest; that there are
fully as many stocks on the short side of the
market ut present as at any time recently. The
bulls insist that the feeling is spreading; that
prices are very near bottom, and the advance
mnst be steadily upwards from now on, though
slight reactions will, or course, occur. St. Paul
At one time was up to 704, but 1t broke on publ
cation of the report for the second week of May,
showing a loss as compared with the correspond
ing week last year of $42, 500. Northwestern is
dow /, although the weekly statement shows a
loss of only $1,000.
The bond market has been very active, the
total sales amounting to So, l22, 900 but of this
business, over 81 900, 600 consisted of transac-
lions in Erie seconds, new. which were ex
lremely active between II and 2 o'clock, and
In the last hour they were less active. closing at
khe quotation last mentioned. The most Of the
list, however, show considerable gains. Atlantic
q Pacific, western division firsts are up 7, at 72da;
Central Iowa, eastern division firsts l, at So;
Chesapeake e. Ohio skies, series b. IL. at 81:
St. Paul, Chicago 6 Pacific, western division skies,
I, at lis; Chicago 81 Pacific, western division
Gves, l, at ,98; Wisconsin 81 Minnesota d.
vision fves, a. at 81; and the terminal
Gves ], at SO; Morris & Essex frsts consol-
dated sevens' at l27;, Denver g. Rio
Grande frsts, 2, at II; and the frsts consol-
dated, !, at IS; L. g. ~, Cecilian branch
Eevens, 2, at 100; the general skies, II. at 81;
and the ten-fortieths, skies, Il, at 734; Lake
Erie & Western frsts, II, at 664; Nickel
plate frsts. ). at 75s, and the West Shore
hrsts, at 30a; Union Pacific sinking funds
II, at l20: st. Louis & Iron Mountain seconds,
II, at 1851; and the general consolidated fves.
& at 72a; the Colorado coal and iron skies, 1,
at GO,
The market closed with the following prices
bid: