The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-01-25
CONDITION OF THE MARKETS
A Dull and Dragging Opening. Followed
by Change to Bullish Tone.
Active Trading in Corn, the Closing Being q
TrifIe Lower than on MOnday-Provisions
Fairly Active and Generally Steady.


A Feverish and Errasic Market, the Trans
actions Being Confined Few Stocks
NEW YORK, Jan. 24-Money on call was
easy at a 81 per cent, the last loan being made
at per cent.
Prime mercantile paper, 81 al per cent.
Sterling exchange was dull but firm, with
scrual business at g. s43 for sixty-day bills and
s4.s61 for demand.
The total sales of stocks to-day were 132, lS6
shares, including the following Louisville &
Nashville. 4. 75o Missouri Pacific, $3.50; Read
ing, %, 100; Richmond g. West Point, 3. l25; St
Paul. $500; Union Pacific, 14,26O; Western
Union, 1900.
The stock market was quite fevsrish and
erratc to-day, but yeas very dull. except for q
half dozen stocks, which Inonopolized the inter
est taken in the speculation. In those stocks
there were few large transactions, and one sale
of st. Paul, of 5000 shares the largest
Single transaction that has taken place at the
Stock Exchange for over two years. The aggre-
gate business. however, was very small, and the
market subject to sudden and frequent
changes in temper within narrow range OF
quotations The bears" made a raid on Pacihc
Mail and Missouri Pacific in the early trading,
blt the Gould brokers were steady buyers, aud
these stocks were sooE dropped for others
by the ''bears." ST. Paul was hammered, and
the dealings attracted much attention, and the
short interest being very large. a threatened
PdUeezc made some hpprehensiOns among them.
the fluctuations of the stock, however, notwith-
standing its comparatively heavy transactions.
only half per cent. for the entire day.
Manhattan proved to be the only stock still re-
naming vulnerable TO the attacks OF the bears.
and II dropped q per cent, though this was
afterward recovered. Union Pacific was active
and heavy throughout steady depreciation,
lasting all day, and IL is the only one OF the
active list showing material decline
this evening The coal stocks and the other
grangers presented firm front throughout
the day, and the stagLation in the general mar
ket was feature of the dealings. The opening
was rather heavy at declines extending to per
cent but the list rallied immediately, and frac-
tional gains were made the entire active
list. The market became steady at the ad-
vance, however and the mouotony was unre-
lieved except by the eyrations of Mahattan, I'M
I'll the last hour. when heavy tone developed,
and the gains of the forenoon were generally
wiped out, the market finally closing dull and
heavy at insignificant changes for the day. The
final changes irregular and for fractions
only, except declines of l per cent each In Union
Pacific and Oregon Improvement
Railroad bonds were active. Sales, 81, 715, 600.
of which $780, 900 were in West Shore tours and
$l98, 000i in Burlington 81 Quincy. Nebraska fours.
The market was firm TO strong in the forenoon,
but sagged off later in the day. leaving, prices
irreguiar1y changed from last sales, with de-
clines in the majority. Peoria, Decatur 81
Evansville frsts lost 2, at 107, Richmond e.
Allegheny receipts p, at SOL; Ohio Southern
frsts rose 81. TO l03f.
Government bonds were dull and heavy.
State bonds were dull and steady. Closing
rrt1nk fiCp