The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-06-25
CONDITION OF THE MARKETS.
Moderate Trading in Wheat, Accompa.
MED by Spurts Of Activity,
The Prevailing Feeling Being One of Weak
ness, and the Market Closing Lower
than on Wednesday-Pork Higher.
MONEY, BONDS AND STOCKS.

Less Activity In Railway Bonds Stocks Weak
and Generally Lower.
NEW YORK, June 24-Money on call was
easy at II 024 per cent.
Prime mercantile paper. 405 per cent.
Sterling exchange was dull actual rates,
a. 49, for sixty days and 81 49, for demand.
The total sales of stocks to-day were 349, sos
shares, including the following Delaware
Lackawanna & Western, 61.025 Erie, II, $780,
Kansas & Texas 1915; Lake Shore. 33,267
Louisville g. Nashville, S316; Northwestern
1890; New Jersey Central 7.630; New York
Central, 1880; Pacific Mail, 1866; st. Paul.
e, 265; St. Paul & Omaha $3.50; Union Pacific
rs, 255; Western Union, 1890; Wabash Pacific,
R2l2 Northern Pacific preferred, $3.50; Oregon
q Transcontinental. 1870.
Government bonds were quiet but very strong
State bonds were dull and steady.
Railroad bonds were less active; sales 81, no.
b0O Fluctuations were small, and final prices
show irregular changes, with no important ad-
yances or declines.
The news this morning affecting stocks was
shiefy of an unfavorable character. The strike
Of the switchmen on the Lake Shore road how
ever, was the prime element of trouble. The
advices of trouble from Chicago indicated that
the disafection among the workmen is likely to
spread to other roads, and it is thought at the
same time that officers Of other lines are in
elined to make common cause with the Lake
Shore and thus settle the question at once.
Reports of rate-cutting in new directions
were also prevalent and although denials were
abundant, the report helped the selling move
ment. Western Union was the feature in the
morning, and it again advanced sharply. Several
explanations Of the movement were afoar, but
all wers i;ars SSyy contradictions. The only news
Of favorable nature was the advicss from
Chicago. showing the increased earning of the
roads in that region, but it was lost sight of in
the food of disturbing news from the same
quarter. The market opened decidedly weak,
generally to per cent lower than last even
lng's closing figures, while Northern Pacific pre-
ferred was off and Lake Shore per cent In
the early trading, however, the market was
strong, under the leadership of Western
Union but the gains were generally for
only small FRACTIONS, and the advance was
checked before II o'clock, after which time prices
sagged off and continued weak throughout the
remainder of the day, subject to slight reac
tions The general weakness carried Western
Union down in the afternoon. Lackawanna was
stoutly supported throughout the entire day.
The market closed heavy at or near the lowest
figures reached. The final figures show heavy
declines throughout the active list. Cleveland,
Columbus Cincinnati 81 Indianapolis is down q:
Lake Shore, Il; Western Union and Delaware q
Hudson, each, Il; Omaha and Wabash preferred,
II, each; Consolidated Gas, Northwestern and
Louisville s. Nashville, EACH IL; Union Pacific
and Reading, each, Il; st. Paul and New York
Central, EACH l per cent, and the remainder
fractions. Closing quotations were: