The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-05-09
IN THE WORLDOF TRADE,

NEW YORK, May Mooney on call easy at
IL to per cent; last loan, .; closed at 11<@
2. Prime mercantile paper, 5tI6. Sterling ex-
change dull but firm at 4S6I for sixty-day bills
and ISL for demand. The total sales of stocks
to-day were 294673 shares. The stock market
was only moderately active to-day, and while
weak in the forenoon. recovered somewhat
later in the day, closing firm, though at frac-
tional losses for the day in most of the active
list. London was buyer at the opening and
this gave strong tone to the early trading,
first prices being from = to IS per cent above
Saturdays final quotations. The room was
generally in bullish frame of mind, but the
traders and professionals were seeking for fur
Their reaction and the unfavorable statement of
the AtchlsOn was used against the list in gen.
eral and special pressure was brought against the
Gould stocks, which were found to yield more
rapidly than the rest of the list New England
was remarkably strong in the early dealings
but after raise of point gave way with the
remainder of the list. Missouri Pacific led the
decline and before it was stopped had dropped
35s per cent, but Union Pacific also became
quite weak later the stories that the control of
the 500 line had been bought by Canadian
Pacific parties and that the latter road would
demand larger differential in the trans-conti-
mental pool was against the stock with some ef-
feet. A feature or the dealings was the demand
Tor LaekaWanna IN the loan crowd, as high as
1-64th being bid for the use of the stock to-day,
while the short interest in all the active stocks
IS reported very large, one operator having out
10000 shares. There is an impression that the
market has been weakened by parties inter
ested in defeating the placing of the Reading
per cent. loan IN London and Reading was weak
AT one time to-day, though it was nevera leader
in the decline. Manhattan was next to Missouri
Pacific as to weakness, but New England after
1t once started showed marked weakness To-
ward ? o'clock the lowest prices of the day
generally were reached and the shorts then
started in to cover, which rallied the list though
little progress was made until during the last
hour, when the advance gained force and most
of the list were brought up to the neghborhood
of opening figures. The close was quiet but
dull. Wheeling d Lake Erie preferred was ex-
ceptional this evening with a gain of l per
cent, but most of the list are fractionally lower
and Missouri Pacific is down PC; Manhattan,
15Sc; Oregon Navigation, lie, and Ft Worth
d Denver, II. The railroad bond market was
quiet but firm to strong, but the only features
of the dealings were the TT. Worth 4, Denver
frsts and the Wheeling & Lake Erie firsts, and
the former fiuctuated over a comparatively mar
row range, and finally closed slightly lower on
sales of S254,000, while the latter was strong
and rose IL per cent, though 1t reacted frstc-
tionally at the close, its sales aggTegatng $780,
600 out of a total days business Of 81 $4,000
Most OF the list are higher. Government bonds
were duh but firm. State bonds were dull and
steady