The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-03-25
CONDITION OF THE MARKETS.
The Opening characterized by Heavy
Buying of Everything Offered.
an Advance Results, and Everybody Rushes
in to Sell-Increased Strength in Corn
Provisions Without Change.
MONEY, BONDS AND STOCKS.

Railway Bonds Active at Lower Prices
Stocks Active and Feverish.
NEW YORK. March 24.-Money on call was
saay at 203 per cent.
Prime mercantile paper, 405 per cent.
Sterling exchange was dull but steady at 81. S6ss
Cor sixty days, and g. s8a demand.
The total sales of stocks to-day were CO., $40
shares, including the following. Canada South
srn, 4,486; Central Pacific, $3.50; Delaware,
Lackawanna 6 Western, 63, 100; Delaware &
Hudson, 5000; Erie. &c, zoos; Kansas & Texas,
1881; Lake Shore, 90. 124; Louisville & Mash
vile, $685.; Northwestern, 81 ,0l0; New Jersey
Central. II. 953; New York Central, 3G. COS; Pa
cifc Mail, Il, 1865; Reading, 21,670; ST. Paul,
1850; St Paul G. Omaha, 6.125; Texas & Paci-
dc, Tile; Union Pacific, 81, 100; Western Union,
l4.205; Northern Pacific preferred. q. 925; Ore
gop e. Transcontinental, 1885.
Government bonds were dull and steady.
State bonds were a little more active and
about steady.
The sales of railroad bonds amounted to
42,56e,o 900, but the activity was at the expense of
quotations. There was some speculation in
Erie second consols, ex. June coupon, the
trading in which amounted to 1923, 600, and
spurts of activity in Canada Southern seconds
and Erie funded ives. The Erie second consols
were an exception to the general rule. closing
with a gain of Ii at 1909. Other important
changes include q decline Of 2 in st. Paul Fights,
of "a in Denver e. Rio Grande frsts, II in the
Western frsts, 2 in l., b. & w. seconds, and 2
In NJ. K e. T. fives.
1t was another day Of activity and feverish-
ness in stocks, with a heavy break after mid
day, a part of which was subsequently, recovered.
Opening prices showed declines from fractions
TO l per cent, the latter Missouri, Kansas &
z, xas. After a further slight decline in the
ca ty dealings, the market became firm and con-
tin ued so throughout the forenoon, the highest
pzfSes being reached shortly before II o'clock.
The whole market hangs upon the news received
regarding the strike on the Southwestern sys-
tenn Of roads and the probabilities of it extend
ing to other roads, and favorable or unfavorable
news has had it's immediate effect upon quota
tons. After midday, on that
the troubles had extended to Chicago. there
was a heavy break, in which Lake Shore was
most conspicuous, and this. although there were
no rumors. of trouble ON that line. was the re-.
suit of hammering by the 'bears." who took ad-
vantage of the news to depress prices, New
York Central also sympathized materially, while
the whole list was weak. Later in the day a
partial recovery was established, and the market
finally closed active, feverish and irregular at
figures which show a net loss for Lake Shore of
!, SeW iork Ceutral 9, Sortnwestern :, Oh Taui
Z, Chicago, Burlington & Quincy q, Indianapo-
tis, Blooming & Western q, st. Paul 81 Duluth
"a, and Southern Pacific ID. Union Pacific was
also decidedly weak on q combination of rulnors
that adverse legislation was to be carried through
at Washington, and it sold as low as 4444, after
opening at AZ. It closed II better. however,
with a net loss of II. There was a raid made on
Oregon & Transcontinental without any specific
reason, and the stock fell "a. A drive was also
made at M, <. q T., and it sold at 2os. but
closad az -, a loss of Il. A conspicuous excep-
ton to the general rule was L~ackawanna, which
was feverish but closed at a net advance of {.
Reading is UP ], and Pacific Mail and Western
Union each ]. These are the only stocks in the
active list that show gains. Mexican Telegraph
stock sold for the first time to-day at la. St
Paul sold ex. dividend of q per cent, and Missouri
Pacific, ex. dividend of u per cent.
The market closed with the following prices
bid: