The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-07-27
CONDITION OF THE MARKETS
Wheat Holds Up in Good Style in Spite
of a Generally Nervous Feeling.
Corn Easy, the Days Business Showing q De-
cline of One Cent from Wednesdays
Prices-More Activity in Provisions.
MONEY, BONDS AND STOCKS.

A Quiet but Feverish and Weak Opening,
with an Active Closing.
NEW YORK. July 6-Money on call was easy
at1eI{ per cent, closing At l.
Prime mercantile paper, q per cent.
Sterling exchange was quiet and weak. with
actual business az s4-s6 for sixty-dsy bills and
81 SO for demand
The total sales OF stocks to-day wsre 22s,5o5
shares. including the following D., L. & W.,
q, coo, Erie. $50; Kaasas 81 Texas. 1000; Lake
Shore, 4,4So; Louisville g. Nashville, 14.435;
Missouri Pacific. 1850; NORTH western. $500;
Northern Pacific, preferred, Abs; Reading. Co.
326; Richmond & West Point, $3.50; St Paul.
80. 10; Union Pacific, IA, $50; Western Union.
4,s3z.
The stock market was quiet but fsverish and
generally weak IN the forenoon to-day, as the
traders, the bears" and the bulls who have
lately realized the profits accrued were all WORK
Ing for a reaction. and they succeeded IN getting
prices of fractional amounta. But the news or
the decision Of Judge Brewer, granting the In
junction against the Iowa Railroad Commission
ers, seconded by the dividend OF 3 per cent on
stock Of the Louisville 81 Nashville. which the
street seemed TO have forgotten. about enectual-
ly turned the tide, aud buying began all over the
list A strong and even buoyant tone marked
the transactions for tie remainder OF the day,
and the losses or yesterday were not only W:peo
out, but additional gains were scored The
shorts" became frightened and took in their
contracts on a liberal scale. while the bears"
were powerless 70 stem the tide OF purchases.
Chicago W as a seller of the Changers during The
forenoon on the decision OF he meeting OF railroad
employees at ST. Joseph to continue the boycott
upon the Burlington & Quincy and some fur
Their small cuts in rates, but changed front rap
idly after the announcement OF the decision,
and the graugers led the upward movement.
London bought Lcuisv lie & Nashville heavily,
and its gain was very sharp upon the announce
ment of the dividend. aud they also took Union
Pacific and Reading. which were well supported
at the bottom figures. Richmond Terminal pre-
ferred made some sharp fluctuations and closed
with q material advance. but the dealings In tho
rest OF the list were or no special Interest,",
though San Francisco stocks were notably
strong on prospective heavy earnings and talk
OF o dividend. Notwithstanding the fact that
fret prices were higher this morning. ell vim
seemed to have departed from the mar
ket the activity being confined TO q few
stocks and the entire lst ssRged OH slowly.
some recovery was made during the frat hour.
but dullness and stagnation succeeded and
weakness set N again toward noon. The lowest
prices of the day we're reached shortly after that
time, however. when the dividend on Louisville
81 Nashville suddenly jumped that stock up II,
and the movement spread to others, especially
Reading, ST. Paul, Union Pacific and Lacka-
wanna The movement eliminated before 1 p.
NJ, and the market once moro became dull, but
the news of the Iowa decision again infused ac-
tivity aud strength into the trading. and an ad-
vance was inaugurated which ceased only with
the sound Of the gong. The close WAS active and
strong at the highest prices OF the day.
There was less animation In railroad
bonds to-day, and less character to the
dealings. some hesitation ia the forenoon
being followed By q mild upward movement to-
ward the close. Most issues are higher this even
ing, but important gains are few in number.
The DAYS business aggregated 81. ABB, 900. out OF
which Sl65, 900 were IN It. Worth q Denver
frsts; sl37. 900 In Erie seconds. and sl21. 600 In
Texas Pacific seconds. Indiana. Bloomington
G. Western first certificates rose 81, to 81, and
Belleville 81 Illinois 6rsrs 2, to 1l9.
Government bonds were dull but firm.
State bonds were very dull and steady. Clos
ing quotations were: