The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-05-28
CONDITION OF THE MARKETS.
Free Buying Causes Firm Feeling in
Wheat and an Advance in Prices.
Corn and Oats Open Steady but Close Lower
Provisions Rule Dull and Pork Touches
the Lowest Figures for Months.
MONEY BONDS AND STOCKS.


Railway Bonds Active and Higher-Better
Prices for All Active Stocks.
NEW YORK. May 27.-Monsy on call was easy
1t 294 per cent
Prime mercantile paper, 405 per cent
Sterling exchange was steady. with actual
rates at o. 81 for sixty-day bills and a. Ss2 for
demand
The total sales Of stocks to-day were 424 .207
shares, including the following: Deiware, Lack
awanna & Western, so, los; Delaware & Hudson,
3,32O; Erie, 20,510; Kansas & Texas, 1925; Lake
Shore, 80, S73; Louisville & Nashville, 10, $50;
Northwestern, II, 275; New York Central, 1906;
"a. 1885, ST. Paul s. Omaha 9,37O; Texas e. Pa
ciHc, 600; Union Pacific, 22l65, Western
Union, is, 160; Northern Pacific preferred, $50;
Oregon & Transcontinental, 1854.
Government bonds quiet but steady, with the
quotations for threes lower.
State bonds quiet and steady.
Railroad bonds were again active to-day, the
transactions ageregating s2,277, 0Oo Erie second
consols, ex. June coupon, contributed $402, 600,
and the trust receipts of the East Tennessee
. ccmpanys bonds $3.50 000 Prices sympathized
with the movement In stocks and show material
advances Buffalo, New York 81 Philadelphia
frsts rose q. to A.; ST. Louis, Kansas City 81
Northern, Omaha irsts, 2, to 81; Indianapolis,
Decatur 81 Springfield income trust receipts, 2.
TO 80 and Mobile 81 Ohio frstdebentures, 81, to 5.
London, it is thought did the last of its selling
Of stocks this morning, and there is unmistak-
able evidence that it was buyer this afternoon,
especially of st. Paul, Union Pacific and Louis
vile & Nashville. Brokers are beginning to re-
port considerable outside purchases and this
morning the upward movement carried every
thing before it The Chicago party say that the
market responded too quickly to their efforts,
aud there was considerable selling for a season,
but all the stock offered was absorbed and the
idea of material reaction has been given up.
There were free offerings of stocks in the early
hours, and quotations yielded slight fractions,
but before noon the stocks offered were taken
and the buying began again. The market
responded quickly, prices advancing steadily to
the close at or near the best figures of the day.
St Paul WAS the favorite. and opened up !,
yielded IN the early dealings ]. from which it
rose to and closed at 92s. Lackawanna opened
unchanged at 1881, reacted !, and rose in the
afternoon to 100, but yielded slightly toward the
close. its final price being 1904. Lake Shore
rose to S2t, closing lower. There was consid-
cradle speculative interest, also, in Union Pa
cifc, which opened at 81 rising to 52s at the
close. Pacific Mail was active. but failed to
\ make large advance. Louisville & Nashville
opened up lower, at 36a, rose to 49, but closed
throughout the day. 1t opened lower, at 794
and steadily declined to 75a IN the last hour,
closing 4.higher, with net loss of II per cent
Everything on the active list is higher tonight,
St Paul leading with an advance Of IL. while
louisville 81 Nashville is up II; Hooking Val
ley, IL Lake Shore aud Union Pacific, each, II,
and Oregon & Navigation, l per cent. Closing
onotationg were.