The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-08-01
CONDITION OF THE R K
Wheat Loses Its Big Bulge and Sud-
denly Declines More Than Two Cents.
Corn Advances Sharply and Shows Unusual
Strength-0ais Active and Higher-Pro-
visions Unusually Active but Unsettled.
MONEY, BONDS AND STOCKS.

New York shows Increased Strength aud Ac-
tfvfty, with an Active and Strong Ciosing.
NEW YORK, July 3L-Money on call Was easy
at I1Ii per cent.
Prime mercantile paper, ACT per cent.
Sterling exchange was very weak with
actual business at s4S5 for sixty-dsy bills, and
S4.s7 for demand.
The total sales OF stocks to-day were 1928
shares. including the folio wing: Canada South
ern, APO; Delaware, Lackawanna & Western,
|. 2o3; Lake Shore. 1850; Louisville & Nash
vile, 4.240; Missouri Pacific. 1890; Northwest
ern, 10. 1855; Northern Pacific, preferred 4,4l5;
Reading. 81. 500; Richmond & West Point, $3.50;
St Paul. 4l,379; Texas Pacific, 4.430; Union Pa
eifc. a. 800; Western Union, 29,O65; Wheeling
& LAKE Erie, 3,051
The stock market was not only strong, con-
tinuing the advance which has lasted all
through the month. but It showed q largely in
creased volume Of business, and gave evidences
Of broadening out materially. The strong tone
made itself apparent at the opening. and was
prominent all the way out, with bat slight IN
terruptiols, and almost all tho active list is ma
terially higher this evening. The features OF
the day were Western Union, which felt the full
stimulus of the agreement to restore rates by
the cable companies, and Union Pacific, which
advanced steadily on q large business on the ad
vices from Washington that the Senate had re-
ceived q favorable report from the
on the Cultivate bill. The Improvement. how
ever, extended all through the list. and the
strength in Western Union was reflected in the
rest OF the Gould stocks, which were more
prominent than usual of late. The news of the
day was OF q generally favorable nature,
and the report OF damage TO the corn
crop in Kansas by hot winds met with
no response IN the stock market Other crop
news was Of q uniformly hopeful nature. and
this, with the efforts TO again bring about q
harmonious feeling among the granger roads,
made those stocks very prominent for strength
throughout the day. though ST. Paul was very
weak at the opening. The shorts" in the stock
soon began to cover, however, and it led the
advance during the forenoon. the coalers still
reflect the improved outlook IN the trade, and
while the gains in them were moderate they
we're steadily strong all day long. Many Of the
specislties showed q marked increase in the
number Of shares sold to-day. and several dis
played unusual strength, Wheeling q Lake
Ere and Pullman being specially conspicuous.
The foreign buying was still q feature OF the
trading, and there was q further reduction in
sterling exchange rates. There were consider
able realizing sales for London account in the
early morning. but the purchases OF other
stocks fully neutralized the influence
Of such sales There was but q mod
crate business at the opening, which
was strong for everything except ST. Paul, but
the market began to rise immediately, and the
volums Of business increased RAPIDLY. ST. Paul
led the advance during the first hour. and soon
gained over . point, while the improvement in
the other shares was confined to fractional
amounts only. The market continued active by
spurss, alternating with periods Of dullness and
stagnstion, hu. the strong tone was prominent
throughout The market became quiet ia the
afternoon, but the advances continued unin-
tsrrupted. and IN the last hour there was moro
animation, with q more decided advance through
the list. The close was fairly active and strong
ct the best prices of the day. The active list Is
almost invariably higher this evening. and Pull
man rose 2 per cent
The railroad bond market failed to respond to
the improved business ia shares, and was quiet
to dull throughout the day, sales of all issues
asersgsting only 81 ,230. 900. which was very
evenly distributed over the issues traded In.
New York g. Northern seconds became a feature
by reason Of their activity and strength, but the
DEALINGS were small IN the rest Of the list. and
fluctuations were entirely unimportsnt. The
final changes are generally for Insignificant frac-
'tions, but are almost Invariably in the direction
Of higher figures. The few important gains
were Houston q Texas second certificates. 5, to
lilo; international hrsts. 2, TO l07, and Missouri
Pacific ~consols, 2. to liz
Government bonds were dull and steady.
State bonds were dull and steady. Closing
quotations were: