The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-01-19
CONDITION OF THE MARKETS
Heavy Trading in Pork, Resulting in the
''Lambs" Losing Large Sums of Money.
Panic Only Averted by the Timely Buying
Of Big 0perators-Prices Fluctuate Very
Rapidly, but the Closing Is Steady.


I'm Average Days Business in New YORK,
Most Stocks Being FractionaIIy Lower
NEW YORK, Jan. 18.-Money on call was
Easy at 364 per cent, the last loan being made
n33 closing at 304
Prime mercantile paper, 81 a II per cent.
Sterling exchange was dull but steady at
~ "a for sixty day bills ard 81 So for demand.
The total sales of stocks to-day were $40
shares. intending the following: Delaware,
Lackawanna G. Western. $3.50; Delaware s.
Hudson, 1926 Lake Shore, 2,750; Missouri
Pacific 2.6S3; Northwestern, 2,308; Oregon g.
Transcontinentsl, 13, $50; Reading 20. 800; Rich
mond & West Point, 2.160; st. Paul. 1851;
Western Union. $3.50; Union Pacific, l5l00
Tue stock market showed about the usual
amount of business TO day. but beyond the
Oregon stocks, Union Pacific and Reading there
was absolutely nothing of interest in the trad
ing. The traders made a sharp dash at Reading
IN the early morning and forced 1T down frac-
ton only; the movement had little or no effect
upon the remainder of the list, and was soon
The Presidents message, with the make
mp OF the special committee. had a further IA
yorable effect upon Union PAcifc ana as IL 10
expected that the meetings. Of the Union and
Northern Paciics will settle the Oregon Naviga-
lion lease to- morrow the last-named stock was
unusually strong. the Influence OF which was
felt in Oregon and Trinscontinenta, In
which the buying very good Oregon
Improvement continued its advance, on advces
from Boston that the preferred stock was likely
to be taFen. Lackawanna was one or the
strongest though it's business was very small
for that took United States Express advanced
sharply "a the declaration OF the increased divi-
dend. but the general list, after the firs. hour,
was extremely dull. with prices staGnant, The
opening unusually dull and rather weak at
declines from last evenings prices of from to
per cent. but the market, with the single ex-
ception of Reading, recovered Immediately, and
fractional gains scored in the first hour.
The Oregon stocks then became the features,
while the general list became stagnant In the
afternoon United States Express rose about
per cent, after which the list sagged off slowly,
and most of the gains OF the early morning were
lost. The close was dull and rather heavy at
insignificant changes generally from last even
ings prices. majority of the list are fraction
ally lower tonight, but the changes are of little
significance, except the gains of u 10 Oregon
Improvement per cent. in Oregon Navigation,
and II in United States Express.
The operations in railroad bonds felt the pre-
vailing dullness n certain degree for the first
time in some weeks. Sales, ST., 1873, 900. The
market closed but slight fractions different
from last nights prices Lake Shore seconds,
coupon, rose 81, at l. 25 and the registered 2, at
124
Governments bonds dull and steady.
State bonds dull and featureless. Closing