The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-05-26
CONDITION OF THE MARKETS.
Wheat Again Declines and Closes at the
Lowest Figures of the Crop Year..
The Large Decrease in the Visible Supply of
Corn Causes Slight Adyance-Pro-
visions Dull and Prices Lower.
MONEY BOMBS AND STOCKS.

Railway Bonds Active and Strong-The Stock
Market Dull and Stock
NEW York, May 25.-Money on call was easy
at 202a per cent
Prime mercantile paper, 405 per cent.
Sterling exchange was strong: actual rates,
e487 for sixty days bills and 81. 69a for demand
The total sales of stocks to-day aggregated
2I5, l82 shares, including the following. Della
ware, Lackawanna g Western, "a, 756; Erie, H. :
$50; Kansas g. Texas, 3,124; Lake Shore, IL, 500;
Northwestern, 16009 New Jersey Central,
1900; Pacific Mail 1850; St. Paul, 1885, st.
Paul & Omaha, 1925; Union Pacific 5000; West
eFn Union, 1885, Reading, 3,O50
Government bonds were dull and steady.
State bonds were quiet and firm.
Railroad bonds werc more active than for
some time past, and the strength of the market
was like that Of last fall. Final prices show
gains in almost every case, and there was only
one important decline-that of New York, Lack
awaEna & Western frsts of IL, to 1909 The
sales to-day amounted to SO, All, 300. Erie sec
end consols, ex June coupon, were extremely
active, furnishing 81 497 G00 and closed at an ad-
vance Of 10. at 500 The funded ives sAnAl .,
1T g. Northern Pacific seconds were conspicu-
Ously active ana gained J. at so.
There was further decrease in the volume of
business in stocks. 1t is becoming recognized
that most Of the selling of the past week has
been for London account and the question in
minds of traders is whether the present ''bulp
party will be able TO absorb the stocks thrown
on this market or not Drawers of exchange
made to-day an advance in their rates, which
can only be accounted for by the sales of securi
ties in this market, as our exports have been
larger Of late than for time previous
Northwestern was the strongest stock on the
list, primarily on buying by the Chicago party,
and, secondly, on the proximity of the new divi-
dend, which, Vice-president Sykes says. will be
Bper cent. ST. Paul, though much more active
than its sister stock, was sold heavily by Lon
don this morning and barely held it's own
throughout the day. There was considerable
more activity Ia the loan crowd, and higher
rates are reported The market opened weak,
generally from to per cent below yesterdays
final prices There were further slight declines
in the early dealings, which were quickly recov
cred, and, under the leadership of Northwestern,
advances of fractional amounts were made dur
Ing the first hour. This was followed by dull
ND steady market Until after | p. M. There
was then further upward movement accompa
pied by considerable activity, which eliminated
shortly before 2 p NJ The market then quieted
and prices yielded slowly, and finally closed
heavy near to the opening prices. The net re-
suit of the days operations is generally an ad-
vance of small fractions ST Paul. Lackawan-
ma, Lake Shore, Northwestern and Erie led, in
the order named, and furnished nearly two
thirds of the days business. There was drop
stock, closing at 56s. Closing quotations were: