The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-04-03
CONDITION OF THE MARKETS.
The European War News Causesa Slight
Advance in the Price of Wheat,
But Heavy Offerings Result in Decline, and
the Market Closes Dull-Provisions
Shade Firmer at Unchanged Prices.
MONEY, BONDS AND STOCKS.

Enusual Dizziness in Railway BOnds-Stocks
Irregular and Prices Lower.
NEW YORK, April Mooney on call was
Asy ct 81 OBJ per cent.
Prime mercantile paper, 405 per cent.
Sterling exchange was dull but steady at 81. 86l
eOr sixty days. and g. SS4 for demand
The total sales Of stocks to-day were 300. 1897
shares. including the following Delaware,
xackawanna & Western, $1,000; Delaware &
Hudson 400; Erie, $685.; Kansas 6 Texas,
R657; Lake Shore, 81 ,120; Louisville 6 Nash
vile, $500; Northwestern. 1850; Pacific Mail,
$685.; New York Central. $3.50; Reading. 1890;
ST Paul. 80, 100; ST. Paul & Omaha, 3,40O;
Union Pacific, 37,037; Western Union, 23,545;
Northern Pacific preferred, 9.155; Oregon 6
Transcontinental, 1918
Government bonds were dull and heavy.
State bonds were very dull and steady
Railroad bonds were unusually dull, the total
asles being only 81, ZIG, 600. Closing prices show
Irregular changes.
Stocks opened weak, at loss of / to !. The
hsaviness was soon checked, however, and the
market continued dull and firm, with only slight
reactions during the forenoon The highest
prices Of the day were generally made shortly
before midday. Pacific Mail was conspicuous
for its strength during this time, selling up from
62t, at the opening, to 54s. Other gains are
Reneraily for small amounts. but Union Pacific,
which opened at 40 and sold at 49,, rose to so.
After midday the market became more active
and weak Louisville 81 Nashville and Delaware
@ Hudson each losing over l per cent in the
next two hours, and the rect of the list smaller
amounts There was small rally and again
decided weakness in the last hour, with final
rally Just before the close; but the market was
decidedly feverish and irregular late in the day,
and closed in that condition at from fractions to
over per cent. lower than yesterday. Among
the unusually active stocks Northwestern d
Be- Paul common. Michigan Central and Lake
Shore each lost l. Delaware & Hudson and
Lackawanna. each, II; Central of New Jersey.
IL; Reading II; Missouri Pacific, 81, and
The rest OF the list fractions Pacific Mail closed
with net gain of 8; Southern Pacific, I; North
prn Pacific, common, I. and Central Pacific, &.
Western Union opened lower, and fell during
the afternoon to 644, closing with net loss of
~ The decline in this stock was accompanied
BIZ rumors that the Baltimore & Ohio and United
Telegraph lines were forming a combination to
build to the Pacific coast, and that they were to
work in combined opposition hereafter to the
senied by the officials of the Baltimore q Ohio
tpd parties in position to know in the Office of
the United lines.
Il IL now generally conceded that such prog
1ess has been made by the representatives of the
transcontinental lines that rates will be restored
and harmony prevail, so far as the railroads are
concerned, at an early day. The negotiations
have, in fact, gone far that it is said furth
Or meeting of the presidents will be necessary.
The plan proposed is to leave all questions that
eaLnot be otherwise settled to Commissioner
Fink. who will act as arbitrator.
There was an unusual number Of adverse re-
ports afoat. including statements of serious cut
ting of rates in the Northwest the failure of the
strikers on the Southwestern roads to return to
work, etc. Closing quotations were: