The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-21
CONDITION OF THE MARKETS
An Increase of Activity in the Wheat
Pit, with More Sellers than Buyers.
Corn Opens Fairly Strong, but the "Bears"
Succeed in Forcing Prices Down Slightly
Provisions Trifie Lower and Dull.
MONEY, noNDs AND STOCKS.

a Quiet but Weak Market, without Notice.
able Reaction of Any Sort.
NEW YORK, March 2O.-Money on call
was easy at a as per cent, the last loan being
made At n, closing AZ n.
Prime mercantile paper, 5053 per cent
Sterling exchange was quiet but steady at
94s51 for sixty-day bills and 81 s78 for demand.
The total sales Of stocks to-day 145,-
sic shares. including the following Delaware,
Lackawanna & Western, 8. $50; Erie, 7,440;
Lake Shore. 3,46O; Louisville s. Nshaville,
4,423; Missouri Pacific. 3.70s Northwestern,
/ O. 40; Reading. %, 450; Richmond & West Point,
| $780, st. Paul, 13,sO5; Texas Pacific. 4475;
] Western Union. 1856.
The stock market was quiet but weak from
fopening to close today. without reaction worthy
of the name at any time and prices over the en-
tire list are materially lower tonight All the
interest conferred in the Gould stocks to-day,
and ander the lead Of Missouri Pacific they led
hemarket throughout the day. The "bears" have
circulated rumors and assertions in regard to the
dividend which had very disquieting effect mp
on holders and while buying was stopped en-
firely much 'long" stock came out;
the "bsars' and traders we're mo not
land free offerings for the ''sh0rt" account aided
rhe decline Standard Oil brokers sold Western
Union, and later in the day Texas Pacific be,
II
sreadily. There was some foreign buying, but
tahe pressure OF domestic stock completely neu-
Etsalized the influence OF this interest, and the
Tendency to advance was quickly smothered At
k4he opeLing, outside of the Gould stocks. Read
ing, Lackawanna, Western Union and St. Paul
were most conspicuous. and the pressure against
the last named stock was very heavy at times,
bat the impression made upon it was entirely
fanaignifcant. The others, however, displayed
considerable weakness and TO night are mater
tally lower. but the general list was very dull
and without feature for most Of the day. The
frat safes were made at concessions from last
evenings prices extending to ! per cent, but
while an mprovsd tendency was manifested in
the early trading the market quickly began to
decline, with Missouri Pacific In the lead. The
activity disappeared after the early demand
ceased, and except in the leaders animation
was shown throughout the day, and while the
opening figures were generally highest the low
lest prices were established in the last hour, tie
close being quiet but weak at or near the lowest
reached. Everything except few specialties is
Eaower, and Missouri Pacific lost q; Texas Pa
clio. III; Louisville s. Nashville, II, Manhattan
& Western Union, II; New England per cent.
The railroad bond market was very dull in the
main, and quite weak, though important changes
lan quotations few. The only feature was
1.-The sharp recovery of the Mobile 81 Ohio new 6s,
(Which, after a drop of per cent, rapidly re-
gained the loss The sales were 1906, 900.
| Government bonds dull and steady; State
bonds were neglected. Closing quotations were: