The Indianapolis journal., 1886-02-19
CONDITION OF THE MARKETS
Wheat Opens with "Bullish" Temper,
Followed by an Easier Feeling,
The Market Being Very Dali in the After
noon-Actiye Trading in Corn-Pro-
visions Quiet and Shade Higher.
Small Transactions In Railway Bonds-Stocks
Duh aud Weak.

Small Transactions In Railway Bonds-Stocks
Duh and Weak.
NEW YORK, Feb. 18-Money on call was
easy at IL az per cent
Prime mercantile paper, at 405 per cent
Sterling exchange was dull but firm at 81 87a
for sixty days, and 81 s94 for demand.
The total sales of stocks to-day were, 435, ,548
shares, including The following Canada South
ern 4, $50; Delaware. Lackawanna & Western,
.65. Goo Delaware & Hudson, S,184; Erie, 80, 9l5;
Kansas & Texas, 4so0; Lake Shore, 36, 7os;
Louisville g. Nashville, 1900; Northwestern,
0475; New Jersey Central, 22,635; New York
Central. 6,6O1; Pacific Mail, SO, 3SS; Reading,
1850; st. Paul. 3S, ,O40; st. Paul & ON aha,
Is, 605 Texas Pacific $500; Union Pacific, 81.
preferred, 21,216; Oregon s. Transcontipental,
1850
Government bonds were dull and steady.
State bonds were active and firm.
There was heavy falling off in the amount of
business done in railway bonds, the sales amount
ing to only $2,777,000. against over s., 600, 900
yesterday. Business was well distributed with
moderate activity in the Erie issues that have
recently attracted attention, and in the Texas
Pacific Rios. Closing prices show irregular
changes although there are more gains than
losses. To some extent trading sympathzed
with the dealings in stocks, prices being strong
in the forenoon and yielding or less later in
the day.
Stocks showed decided weakness at the open
ing, with declines of to over per cent, owing
to the trouble among the Transcontinental Asso-
citation lines. The early trading was accompar
. MED by further decline of fractional amounts,
except in Pacific Mail. but this was soon checked
and business which had been decidedly active,
became more quiet. with prices steady to firm, a
condition which continued until near the close,
though in the latter part of the time there was
shat Nf cfMn nth s<~I,
est prices of the day were made generally in the
hrst hour after midday. A heavy feeling pre-
vailed later until during the last hour,
when some weakness was developed in
which the coal stocks were most prominent,
the drop in Lackawanna amounting to per
cent. ALL the active stocks yielded more or less,
though the declines, in most cases, were only
fractional. There was a reaction E some cases
in the final dealings. and the market closed
irregular, but decidedly feverish for the most
active stocks. The announcement of prac-
tical dissolution of the Transcontinental Associ-
alton was followed in the afternoon by the
further statement that the subsidy which has
been paid to the Pacific Mail Steamship Com
pany by the Pacific railroads was to terminate
at this end Of thirty days and that official action
to this effect had been taken. In fact, tho news
in the evening centered in the action Of tho
Transcontinental Association aud the reduction
during the day on business between points east
OF the Missouri river and the Pacific coast.
Prominent operators who have been conspicuous
In bringing about the advance manifested no
disposition o-day to resist the decline. Pacific
Mail shows the greatest net decline for tho day,
with loss of 2s; Union Pacific Ia down IA;
Omaha preferred, II; Delaware & Hudson, and
Omaha common. each Il; Lake Shore !, !, ryoitn- ~
weslern and Northern Pacific preferred each lost
], and the remainder of the active list less than
per cent. The only notable exception is an ad-
vance Of in Manitoba
The market closed with the following prices
bid