The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-11-13
CONDITION OF THE MARKETS
Light Trading in Wheat, Accompanied
by Weakness and Lower Prices.
Moderate Business in Corn, the Feeling Being
Weak, and Tendency Dovnward-0ats Act
iys---Preyisions Active and Steady.
MONEY, BONDS AND STOCKS.

A Increase Of Activity at New York. the
Closing Being Weak and Lswsr.
NEW YORK, Nov. l2.-Money on call was
sasy q 272i per cent, the last loan being at 2,
slesing offered at .
Prime mercantile paper, IL a 81 per cent
Sterling exchange was dull but steady at
- SAT for sixsy-day bills and .s73 for demand.
The total sales Of stocks to-day were 227,-
e72 shares, including she following; Delaware,
Lackswanna & wssieru, 5000; Erie, 9,595:
Lake Shore, Is. 4O5; Missouri Pacific. 1900;
North western, 7.795; New York Central. {, go;
Northern Pacific, preferred, 1904; Oregon
Transcontinental. 1890; Reading. $3.50; Rich
nond & West Point, 1900 St. Paul. s.340;
Union Pacific, 10 625, Western Union. l.o2t
The stock market was more active than last
week. but 1t Was weak aud declining almost the
entire dsy. prices at the close being materially
lower all over the iisk London came lower
this morning and was a seller In the loren IN,
but the bright business outlook caused gensr-
ally confident buliish feeling upon the street,
aud a moderate business some slight advan-
ces were made during the forenoon, although
the market had an unsettled and somewhat
feverish tone. the traders and bears continu-
ing To sell the iist. There were rumors and al
vices OF rate troubles in the North west, but
thess had but little effect until toward noon,
when IL was announced that the Vanderbilt roads
had made o serious cut in west bound rates,
which was quickly followed by all
the other trunk lines, and the
Operators for q decline were not slow to make
use of the opportunity thus offered for effective
hammering OF the entire list. In the declines
which followed the trunk lines were naturally
the heaviest sufferers, but doubt was thrown up-
on the Infections of the Southwestern roads to
make an agreement to advance rates, and they
Joined the downward movement. The coal
stocks, also, were weak, though not so prominent
~ the above mention shares. few spseialt'es
were very strolz, however, and Cotton Oh and
Chicago Gas trusts, with Tennessee Coal. Ore
gon Short,line and Milwaukee, Lake Shore q
Western were all more active than
usual OF late and oil scored
handsome gains during the day.
feet values beyond that mentioned above, but
the dsclinss. once started. did not cease until
the close Of business. The market was dull
but weak &C the opening the declines from Sat
urdays final figures extending TO ! per cent,
eut the substantial support given the list re-
suited In fractional advances which were estao-
lished al over rae list with Cotton. OIL aod Ten
nsssss Coai tbs special features. which we're
afterward joined By Oregon Short-line. The
business done became smaller, but the improve
msnt lasted througbout the forenoon. the best
prices az the day being reached generally at
about that time The decline then began,
and the market showed moro ami
nation, the trunk lines leading of,
bus the weakness soon spread 10 the
rest of the let and continued without . setback
for the remainder OF the day. The close was
fairly active and weak st the lowest prices OF
the DAY. The list 10 invariably lower this even
log, and Atchison. St. Paul and louisville "a
Nashville lost II per cent each; Missouri Pacific.
la Lake Shore, Ii; Canada Southern, / per
sent, and the others fractional amounts
Tho railroad bond market was quists bat ir-
regular, though generally firm In the forenoon.
while weakenine later, in sympathy with the
share list The sales OF all issues were ST., AL,
900, though this was very evenly divided and no
speeial feature was shown during the day. The
greater portion of the list shows small changes
only, bus st Paul, l. & M sevens. rose 2,
to ll6; G. & NJ. ssvens. 8. to 1885, the Southwest
ern sizes. 81 TO ia, and Utah Southern general
sevens. 8, to 107
Government bonds were dull but firm.
State bonds were quiet. but STEADY 10 frm.