The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-13
HEAyYAND IOWERMARKETS
A Heavy Decrease in the Visible Sup
ply Fails to Act as a Stimulant,
And Prices of Wheat Decline Still Further
Corn Also Declines, but Prices Are
Well Sustained
MONEY AND STOCKS.

1he New York Market Irregular but Moder-
ately active.
NEW YORK, May 12.-Money on call was easy
All l per cent.
lime mercantile paper, IA 5 per cent.
Foreign exchange was higher; sixty days
sES7; short sight, $4s9.
The total sales of stocks to-day were 265, 967
shares, including the following: Delaware,
Lackawanna g. Western, 1890; Delaware g.
Hudson, $500; Lake Shore, "a 40e Louisville &
Nashville, 6,6S0; Northwestern, 35000 New
York Central, 81, 500; Pacific Mail, $3.50; Union
Pacific, IL, coo; ST. Paul, 44,660; Northern Paci-
fic preferred, 4, 700; Oregon & Transeontinental.
8,4O0
Government bonds are unchanged in quota
tons, except an advance to 1884 in the threes
There were sales of the coupon four and one half
per cents. at 1924, and the tours, registered, at
1918
State securities have been quiet The Ala
bama and Michigan issues are quoted to per
cent. higher.
Railroad bonds have been active and prices
generally strong until late in the afternoon,
when there was yielding in some cases. espe-
eially in Erie seconds, new.
The stock mark t has been irregular but mod
erately active all day Prices opened about
steady, and under heavy selling yielded a frac-
ton during the first hour, then rallied and con-
tinued steady sill ght fluctuations until after /
o'clock, when they became strong again, and the
highest prices of the day were realized about the
beginning OF the last hour. Under the infu-
ence of heavy selling movement by the
''bears," and disposition to realize by the
small traders, prices again weakened. Notwith-
standing the weakness in New York Central,
Lake Shore well held, and closed with gain
of l. The grangers were strong most of the day.
Omaha preferred is unchanged. There was un-
usual activity in Oregon & Transcontinental
and the stock was up per cent. this evening
Louisville & Nashville shows gain of !. Other
changes were for small fractions. Most of the
business was done in half dozen stocks-the
sales of New York Central, st. Paul. Northwest
Lackawanna, Lake Shore and Union Pacific
aggregating nearly 70 per cent Of the days bust
ness. The market closed weak. Leading bulls"
insist to-day that the Vanderbilt stocks must
separate from the rest of the market They claim
they are receiving no support, and are only a
clog on what would otherwise be decidedly
strong market They insist that the Vanderbilt
party lost heavily when both New York Central
and Lake Shore were much higher than they
are selling at present, and that their scheme
now is to depress the prices much as possible
before buying again. Friends of Union Pacific
say that the stock is being largely bought by
insiders on a showing of increased earnings and
reduction of floating debt and large land sales
as we'll as heavy purchases of Canada Pacific
consols by the trustees for the sinking fund. 1t
is estimated that the principal bear" leaders iu
the market at present are short as much
500, 600 shares of stock. Leading bear" oper-
ators have been taking much more active in
terest in the market for the past few days, in
cluding to-day, than for long time previous.
The market closed with the following prices
hid.