The Indianapolis journal., 1888-07-25
CONDITION OF THE MARKETS
The "Bears" Get Full Possession Of the
Wheat Pit, and Decline Results.
Corn Shows Considerable Weakness, Bulls"
Being Unable TO Overcome the Down
ward endency-Proyisions Higher.
MONEY. BONDS AND STOCKS.

Moderate Activity IN New York, Accompanied
by Generally Higher Prices.
NEW YORK, July 24-Money on call WAS easy
at lo1i per cent; closing offered as II Per
cent
Prime mercantile paper. sac per cent
Sterling exchange was quiet but steady at
o. s6i for ssxry-dsy bills. and s4Sa for demand.
The total sales of stocks to-day were 2S2, ,Sol
shares, including the following: Delaware.
Lackawapna & Western. 35.2sO; Erie. 9.635;
Kansas & Texas, 1906; Lake Shore, 4143; Louis
vile & Nashville. 5,94l; Missouri Pacific. 1900;
Northwestern, 4.159; Northern Pacific, 3.6l3;
preferred, 5.0l5; Oregon Trsnscontinsntal, 500;
READING. 5o.17o; Richmond q West Point, H.
$50; ST Paul. 1896; Texas Pacific. 6. 100; Union
Pacific 20,l95; Western Union, 1857.
This was another day Of moderate activity in
the stock market. accompanied by o coutln.
ward movement 90 noticeaable In yes.
recognized 40 The consequences Of legitimate
buying for the long account; very little ma
nipuiation IL 70 be seen. and the scarcity OF
stocks for sale points TO the fact that there has
been great deal Of stock bought and taken
away from the street OF late. The improved
feeling has for its foundation the unusually
bright outlook for the crops. which the sxsrsor-
dinary full supply OF money At low rates tends
10 aid in every way. The buying to-day VISA
largely by commission houses. while the selling
was scattering. and almost entirely for the pur-
pose Of realizing the profits accrued upon the
use OF the past few dsys The coal stocks, Union
Pacific and the granesrs were the features to
day, while the lov-pricsd shares, while moro
active thnn usual OF late. presented special
feature of note London was . moderate pur-
chaser Of Louisville g. Nashville on the late re-
port of Mr. Dorsey. There was another batch
Of ''bearish" reports from Chicago. but they
seemed to have little influence, il sny. upon the
course Of prices. The East Tennessee and Nor
folk & Western stocks were quiet. pending the
meeting OF the joint committee, but the South
western shares were all strong on the favorable
crop outlook IN tEst region. New England was
comparatively weak, the selling In that stock
The opening was active and steady TO firm, most
of the active stocks being unchanged. with the
rest small fractions higher, and Omaha mp per
cent Tns market was strong from the first
sales, and prices moved up rapidly during the
first forty-hve minutes under q very good de-
mand, and in that time Lackawanna and Con-
solidatsd rose per cent, and others fractional
amounts Reading, New England aud Rich
mond 81 West Point, however, were barely
steady. The market thus became quiet, aud.
while the tone remained strong, very slow
progress Was made, except for Q squirt ia St
Paul early in the afternoon. Toward delivery
hour prices sseged OF under free sales but they
recovered. and the market closed quiet but
strcng at the best figures. The great
majority Of the active stocks are higher this
evening
The railroad bond market was strong and
hieher throughout. out the dealings presented
little feature beyond the activity displayed by
the Fort Worth & Denver frsts, which fur
nished Sl70. 900. and the Texas Pacific seconds,
which contributed sl34. 900 to the days total
OF si. 365, 600. Declines are very few in number
and for insignificant amounts.
Government bonds were dull and steady.
State bonds were very dull and featureless.
= lloain1 nnntations MerA.