The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-08-10
CONDITION OF THE MARKETS
Wheat Opens Lower, Advances Slightly
and Closes at Best Prices of the Day.
Corn Quiet. the Range of Prices Being Very
Narrow-0ats Strong and a Trifie Higher
Provisions Weak and Slightly Lower.
MONEY, BONDS AND STOCKS.

A Reaction In the New York Market. Most
of the Active List Being Lower.
NEW YORK, Aug. 9-Money on call was
easy az OH per cent
Prime mercantile paper. 4306& per cent.
Sterling exchange was dull but steady at
e. S. for sixty day bills, and 9 s7a for demand.
The total sales of stocks to-day were $50. $50
shares. including the foil owing: Canada South
30, 800; Erie, IA. ESQ; Lake Shore. 6.717; Louis
vile q Nashville. 3.465; Missouri Pacific, 10. 66s;
New Jersey Central. 81. 7s5: Northern Pacific.
preferred. 5.Ol5; Reading. 80, 40; ST. Paul. IA
30; Texas Pacific. G. 1853; Union Pacific, 1888;
Western Union, l6, 375.
The stock market again showed q reactionary
tendency to-day. and for the first time in many
days the general list IL lower than on the pre-
cedine day. There were heavy realizing sales
throughout the day and some hammering by
the traders. but the demand for stocks contin-
ued large. and the impression made upon prices
was small Special stocks. however. were re-
markedly strong. Notwithstanding the general
downward tendency, and chief among these
were Jersey Central, Lake Erie & Western pre-
ferrsd and Mahoning Coal. The first named
stock Was By oil odds the great feature Of the
market at the opening Of business. Its
sales for the day exceeded those Of the
previous Ave days put together. and
its extreme advance was over 2 per cent. The
board room rumors In regard to The stock were
that the Reading party had resolved To put up
the stock, having secured the holdings of the
Lebigh Valley, and that q dividend was to be
paid shortly The president Of the company
said the road was earning q dividend, but that
there had been no action taken In the premises
As Jet Other coalsrs were all strong and active.
but came into no such prominence as Jersey,
and the Gould stocks fairly disputed the first POI
sition In the market with them. Missouri Pacific
made o 6ne squirt in the forenoon, but lost the
advance later, and Western Union was firm
throughout The last stock TO attract attention
was Lake Erie & Western preferred, bu. its net
gain was som netting less than q point. Oregon
Short line was prominently strong. and among
the spscialties. Mahoning Coal was very conspic-
nous, with . rise OF 8 per cent London and
commission houses absorbed most Of the
offerings. while the realizing was almost entirely
local The market WAS very active at the open
ing, and continued SO for the first hour, when
nearly half Of the total sales we're made. First
prices were generally strong. the advances ex.
tending 70 ! per cent. in Jersey Central. The
coal stocks started of with the lead. and were
strong, while the rest of the list displayed con-
siderable weakness, and declines extending to !
Der cent were established The Gould stocks
next came into prominence. and Missouri Pa
cife led q second advance. with Western Union
close up, and the general list sympathized to Q
certain. extent. recovering the losses Of the first
hour. The dealings then became restricted, and
fluctuations were confined to the narrowest lin
its, except 10 . few special stocks, though q firm
tone marked the trading until late In the last
hour, when the selling again saeeed the list of,
and the close was quiet but generally heavy.
Almost the entire active list 10 lower this even
Ing. but the few advances are for important
amounts
The railroad bond market was again active
and stronR, the sales of oil issues aggregating
81. $40, soc, out OF which Atlanta IL Pacific in
comes furnished s492, 900; Texas Pacific seconds,
5000. 900. and Fort Worth & Denver frsts. Sl4S.-
600. The activity was nearly all in the first
hour. however, over 81. 600. 900 being traded in
in that time. The market was strong through
out, and, while most Of the changes are for
fractional amounts, Alton & Terre Haute frsts
rose 2, to ia.
Government bonds were dull and steady.
State bonds were dull and steady. Closing
quotations WARE: