The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-28
CONDITION OF THE MARKETS
A Squirt of Activity at the Opening,
Which Soon Gives Way to Dizziness.
Corn Easy Within Narrow Range, Caused
by Heavy Receipts-0ats Quite and Feat
ureless-Light Trading in Provisions.
MONEY, BoNDs AND STOCKS.
An Increase OF Activity at New York. with q
Dull and Heavy Closing.

An Increase OF Activity at New York, with .
Dull and Heavy Closing.
NEW YORK, Feb 2Z-Money on call was easy
1t 202s per cent, closing offered at "a.
Prime mercantile paper, At 05t per cent.
Sterling exchange was dull but firm at $4.S5
for 60-day bills and a. 81 for demand
The total sales OF stocks to-day were 180, PSI
shares, including the following: Delaware. Lack
awanna g. Western, 16. 925; Lake Shore, $3.50;
Louisville & Nashville. 2O,546 Northwesterr,
4,sO5 New Jersey Central. 3,270 Reading
80. $40: Richmond g West Point, 1850; St Paul.
rs. sos; Union Pacific, l7,4s0; Western Union.
$685.
! The stock market was more active, and espe-
cially In the frst hour to-day. during which
time nearly half the entire days business was
transacted. and under some pressure to sell from
the foreigners prices moved of fractionally, and
In few cases for greater amounts A large
amount Of stock was sold for London account,
but it was absorbed without bringing out any
sslonQ" stock of importance, though traders made
sharp attacks on the list IN the hope OF reacnlne
rome stop orders. The Burlington % Quincy
atrfke had n comparatively slight effect upon the
market, and it 10 not expected &C. have much on
business, az competing roads Will ABSORB what
ever the Burlington La unable to handle Ine
advices from London Of heavy decline IN
American securities this morning caused
} rush TO sell, but the pools had supporting
were absorbed without any marked impression
Son the list except in those stocks which lacked
the support mentioned, OF which Louisville %
Nashville was the most prominent, sfollowed Dy
Kansas 81 Texas and Wabash. the professional
traders continued to sell the list throughout the
day but after the frst rush there was q dull
and heavy market only. which presented tho
usual features Of q traders market There 10
already heavy short" interest in Western
Union, Reading and Missouri Pacific, and that
I'm Louisville 81 Nashville was largely augmented
bto-day. The general list was without movement
| or note, and final changes are
generally for but slight fractions
only. The opening, under ths free selling,
FOR month past, and first sales were made at
concessions Of from to per cent. from Satur-
days closing prices, and further small losses
were sustained in the first hour, except for
Wabash preferred. which showed decided weak
ness. The market then became dull and con-
tnued to sag off very slowly until the last hour,
when there was q better tone Developed anc
slight fractions were reganed, but the close was
very dull and about steady at a shade above
the lowest figures. Everything IS lower To-
night but the declines for fractions only,
except in Louisville 81 Nashville which lost Ii;
Kansas q Texas q like amount; Norfolk % West
.ern preferred, per cent
Despite the stagua alton In the stock market,
the bond houses reported good demand Tor In
yestment securities though the business was
not reflected IN the transactions at the board
There was more animation to-day, sales reach
ing 81. 400, 600, of which Erie seconds furnished
1888 200. The list sympathized with the weak
ness in shares, however, and almost every thing
traded 10 is lower tonight Among the most
important losses Chesapeake 81 Ohio. series j,
coupon of declined q, TO 654; and Indiana,
Bloomington & Western second certificates, 81,
to 65
Government bonds dull and rather heavy.
State bonds were neglected. Closing quota
tons were: