The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-23
THE MARKETS VERY STEADY.
Fluctuations in Cereals Confined to a
Very Narrow Range.
Scarcely Any Outside Trading, and the Spec
nlative Inquiry Confined Within Very
Narrow Limits-Provisions Steady.
MONEY AND STOCKS.

Money Continues Easy>-Settlement between
Pacific Mail and the Pacific Road
new YORK, May 22-Money on call easy
ut II per cent
Prime mercantile paper, per cent
Foreign exchange unchanged
The total sales of stock today were Isl, 49s
shares, including Delaware, Lackawanna &
Western, "a, 275; Lake Shore u $50; Louisville &
Nashville, $500; New York Central, $4,000; New
Jersey Central, 500; Pacific Mail, 1880, st,
Paul, $3.50; Union Pacific. 3o,575.
Government bonds have been quietan steady,
except an advance of per cent. in the regis
tered four and a half per cents. There were
sales of tours, registered, at 1913
State bonds are quiet and steady, except de-
cline in the quotations for some of the Michigan
and Tennessee issues of to 2per cent. and an
eqnal advance in some of the Alabama and
Arkansas issues. There were sales Of Louisiana
sonsols, ex- matured coupon, at 65.
Fhis has been another qaiet day at the Stock
Exchange, the total sales of stocks amounting to
only 157 458 shares, which is an increase Of about
$4,000 shares over yesterday With only slight
rea elton, however, the market has been strong
Rll day. and closed with o gain for the active list
Of from to per cent OF today's business,
80 per cent. consisted of trading in Lackawanna,
New York Central and Union Pacific, which
were also prominent for the advances made
Lake Shore was decidedly strong selling late in
the afternoon up to 53 bat closing & lower.
Vice-presidenf Huntington. Of the Central
Pacific, and President Houston, of Pacific Mail.
held a long conferences today, the result Of
which was that the Pacific Mail accepts from
the Union and Central Pacific companies the
subsidy of $50, 600 per month"; without rebate.
1t is provided that after the agreement has run
Foe civ he Nod rfu
days notice, by either party to the compact. 1t
Is regarded by both parties a fair settlement
of the differences between them, and has added
materially to the strength that has been dis
played for the past two or three days in Pacific
Mail and Union. Pacific
The strength of the market late this afternoon
was due, in some measure, to reports that were
circulated to the effect that the Eastern trunk
lines had come to an agreement and that rates
were to be restored at once. 1t is claimed, by
some of the most earnest ADVOCATES of an i'm
mediate restoration of rates, that there is con-
siderable feeling among the English holders of
the Vanderbilt securities against the prolonged
rate-wsr. They insist now that there is nothing
TO justify the cutting of rates. Leading bull
operators claim that a settlement of the railroad
war would go far toward bringing the public
back into Wall street we'll as IN. restoring
confidence in business generally.
Railway bonds con hnue active, and prominent
commission houses report a steady investment
demand There was heavy speculative trading
also to-day in Erie seconds, new, and consider
able business of the same kind in West Shore
first and Missouri, Kansas & Texas Prices in
the forenoon were heavy, but rallied later in the
day and closed in a majority of cases at some.
advance over the previous sales The total
transactions amounted to ST. 756, 000, Of which
Erie seconds contributed $S45.000. The bonds
last mentioned were steady in the forenoon at
Acc and a fraction rose in the aftArnoon to 5Dic
and closed at 50sc a gain of IL per cent West
Shore frsts are up &c, at 30sc.
The market closed with the following prices
bid