The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-12
A DECLINEIN GRAIN PRICES.
Inc Wheat Market Opens Weak, Fluc-
tuates Wildly, and then Breaks,
Finally Closing About One Cent Under Sat-
urday-A Fair Business in Provisions,
and the Tone Somewhat Easier.
MONEY AND STOCKS.


The New York Market Fairly Active and
Generally Strong.
New YORK, May 1L-Money on call was easy
at per cent.
Prime mercantile paper, per cent
Foreign exchange was firmer at 81. S6l for sixty
days. and 81 88a for short sight.
The total sales of stocks to-day were 257 400
shares-including the following: Delaware,
Lackawanna & Western, $4,000; Delaware &
Hudson, 40Oc Lake Shore, 80. 450; Northwest
ern, p, $50; New York Central, % 700 st. Paul,
So, 1885, Union Pacific, $4,000; Western Union,
$500
Government bonds have been steady at IN
changed quotations for everything; the tours
- 49, -. af az hava
aro lower, wnle the currency sixe. - 90 Aa''
advance 4, to 128
The market for State bonds is quiet and quo
tatious, in cases, shade off, especially for
pome Of the Alabama and Missouri issues. There
were sales Of North Carolina frsts at 81 and
North Carolina tours at S74
Railroad bonds have been comparatively quiet,
and prices is some cases weak and in others
about steady The stock market has been fairly
active today and as rule strong in the morn
has been more than irregular all day, certain
stocks showing little disposition to follow the rec
mainder of the active list Prices this morning
were strong during the forenoon, when fractional
advances were made in almost everything on the
list, while there was gain of Il in Omaha pre-
ferred, IL in ST Paul, per cent in Lackawana
and in Union Pacific. These were the strong
est stocks of the day, and it was during this
time that the highest prices were realized for
the whole list The advance was the result of a
better feeling regarding the railroads in the
West and Northwest, and a disposition on the
part OF the "bears," who failed to
cover last week, to close their account.
After midday the market became dull and heavy,
and in many cases prices yielded from to / per
cent before o'clock. but in the last hour, th sre
was increased trading again, following reports
that the Western railroads were again liz trouble
and that serious cutting had broken out anew on
some of the line. There was also further yield
ing in prices, the weakness continuing until
shortly before the close of the board The final
sales were accompanied by slight rally in some
cases, but quotations this evening are generally
from to per- cent lower than they closed on
Saturday, the weakest stocks being Delaware q
Hudson, Lake Shore and New York Central,
while the Gould stocks, St Paul. and Lack
Rwanna were well supported and generally show
i
weak, at or near the lowest prices Of the day.
The total sales 257, 400 shares, of which st.
Panl contributed SO, 500, while over 81 per cent
consisted of trading in this stock Lackawanna,
Lake Shore, Union Pacific, Northwestern and
New York Central ST. Paul was prominent for
It's strength at the opening, on the general be-
lief that this freight war in the West had been
settled and the first price showed gain of + at
69a from which it rose during the forenoon to 70s,
declined before 2 o'clock to 20, rallied to 704,
and in the last hour fell to 694, but closed with
q net gain Of l. at 69s. The feature
Of the trading throughout the day was
the great weakness in New York
Central. Shortly after midday it fell to S6k,
and continued steady at s6s 0S6a until in the
last hour, when it declined rapidly, drop Of as
much as l per cent. being made on sales of only
500 shares. The lowest price reached was 80,
from which it rallied to 853 and closed at S54.
The Gould stocks were all firmly held, but es-
pecaally Union Pacific which, in the early ad
vance, rose to 81 The bulls tonight insist
that there is good authority for saying that the
railroad war is actually settled. aud it only re-
mains now to carry out'the details They say
the Vanderbilt stocks will cut loose from the
remainder of the market.
The market closed with the following prices