The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-07-01
CONDITION OF THE MARKETS
Wheat Opens Very Active and Strong,
but the Fluctuations Are Narrow.
Corn Shows Increased Activity and Easier
~PriceS-0ats Active and Firm-Mess Pork
and Lard Active at Higher Prices.
MONEY, BONDS AND STOCKS.

Less Activity in Railway Bonds-Stocks Fe-
verish and Generally Lower.
NEW YORK, June 30-Money on call loaned
From q to per cent, closing at per cent.
Prime mercantile paper as per cent.
Sterling exchange was dull at 81. So 0488s for
sixty-day bills, and 81 SS04S82 for demand
The total stock sales to-day were III, 482
shares, including the following: Delaware, Lack
awanna & Western Is, 631; Erie, 1850; Kansas
& Texas, 1000; Lake Shore, II, 4l5; Louisville &
Nashville, 3430; Northwestern, S,240; New York
Central 8, 161; Pacific Mail 10, 255; Reading, s.
$40; ST. Paul. % 300; Union Pacific, IA, $50;
Western Union. 5000; Northern Pacific pre-
ferred, So 900; Oregon & Transcontinental, 3, 435.
Government bonds were dull and lower for
the fours
State bonds were dull and steady
Railroad bonds were less active; sales 81 ,539,
OO0 There was a sharp advance in Louisville,
New Albany & Chicago frsts, upon heavy pur-
ehases, and they are up per cent, at 100:
There were rumors of default in the payment
Of the interest on Mutual Union bonds, and the
skies, which closed last night at 7Sa, were sold
down to 20, bat it was announced that the inter
est would be paid, and they recovered and made
net gain of II The Indiana, Blooming
ton 81 Western incomes were especially weak
~apon the adverse decision in the suit Of the
company with the Cincinnati, Sandusky &
Cleveland, and they are q lower, at 81.
The principal element affecting the stock
market at present is undoubtedly the movement
Of gold out Of the country. The "bull" leaders
have of late pretended to attach little Importance
20 it, but its effect was seen in the hardening
rate for money to-day. The movement is. in
part, accounted for by the return of high class
.aakS.a hold L.. = w.
heavy inquiry for frst-class bonds has run their
prices to high premium, which has tempted
the holders to SELL The proportion of borrowers
of money has lately increased and there has
been an occasional scarcity of lenders. The
other disturbing influence is the rate war ex-
listing in the Northwest. and the eyes of the
operators are anxiously looking for a settle
ment OF the difficulties. The announcement
came from Chicago to-day that the old tripartte
lines had called a meeting for July g. to bring
about a settlement of the differences west of
Chicago, and at the freight Offices in this city of
Che roads interested it is SAID that there is no
change in the situation, and a settlement is
anxiously looked for, all agreeing that the low
rates have brought no new business. To-day's
market was somewhat feversh; being alternate
iy frmer and heavy, but the general tendency
was in the direction of lower prices. In the
early trading Pacific Mail and Union Pacific
We're conspicuously weak, upon advices from
Washington unfavorable to those properties.
The former recovered quickly, but the
latter was sluggish, not recovering its
early loss until some time in the afternoon.
The business was fair for the first hour, but
later was dull, and featrreless throughout the
entire day. At the opening prices were firm, be-
ing generally to above the closing figures of
last night, while Pacific Mail was a conspicuous
exception, being down per cent. The general
market was firm in the early trading, and ad
Vances Of sn1all fractions made, but were
lost in the afternoon, when the entire market
yielded slightly, but it became steady. and so
closed. The changes from last nights prices are
insignificant. Missouri, Kansas 81 Texas shows
the widest difference per cent The changes
pre- Irregular but generally show small losses
Closing quotations were