The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-10
CONDITION OF THE MARKETS
Outsiders Leave Professionals Alone,
and the Latter Find Slim Picking.
Marrow Fluctuations in Wheat, Rejecting the
Operations of Few Big Scalpers-PrO-
visions Slow on Small Business.
MoNET. BONDS A.D STOCKS.

A Dull Day in New YORK., the scaIpers Hav-
ing Things Pretty Mech Their Own Way.
NEW YORK, March 9.-Money on call was
easy &C 203 per cent. the last loan being made
mt 2. closing offered at q.
Prime mercantils paper. 505J per cent
Sterling exchange was dull but steady at
1881 for sixty-day bills. and S4S7 for demand
The total sales of stocks today were 207. 759
shares. including the following: Delaware, Lack
awanna 6 Western, 81 100 Erie, %. 49, Lake
Shore. 5.T98: Louisville d. Nashville, s. 800;
Missouri Pacific 4.4I0; North western. $3.50;
Reading. 81 $50; Richmond & West Point, 5.025;
81. Paul. 1885; Union Pacific, $500; Western
The stock market to-day was waiting one,
there being no developments nor news of any
kind TO start movement in either direction.
Bcalpers had the market pretty much to them
selves. Fluctuhtions most of the list Were
confined to the narrowest limits, and there
frequent alterations from strength TO weakness
and back again. with no decided progress In
either direction. Spurts of activity occurred
from time TO time in several stocks, but they
opening 20 close utterly devoid of feature of any
kind. The foreigners. however, were buyers.
especially in the morning hours, and their pnr-
chases gave the market what little
strength it displayed, though there was
no pressure TO sell. except in Erie,
which was sold down on rumors which lacked
confirmation that there heavy floating
debt and that there would have to be new
Issue OF bonds and that the directors were sell
ing their stock. Lackawannn developed some
STRENGTH late in the day and moved up fraction
ally. The transactions Ia Reading show a
marked falling of. and the stock huctuated
with range OF less than per cent. Some in
tsrest was manifested in Western Union, but
there special feature in the stock The
!, opening was very quiet but firm to strong ct
advances extending 10 per cent, but beyond
the firm tone shown the dealings were devoid
of feature until toward noon. when more ANNA
ticn was shown and prices began TO yield under
fhe lead of Erie, and the downward movement
continued until after o'clock, when the. lowest
prices of the day reached. After that
time there q dull and generally firm market,
with nothing to relieve the monOtony except the
small gain In Lackawanna in the last hour. The
close was duh but firm at irregular changes for
the day. The closing figures show irregular
changes, for the most part of small fractions,
the only important decline being per cent. in
Erie preferred.
Railroad bonds were unusually dull, tie sales
for the day aggregaring only $3.50, 600, and the
trading, like that in shares, was almost entirely
without feature. the only exception being the
sharp advance in Mackinae 81 Marquette land
grants, rumors that the company will, within
d day or two, announce a dividend on the bonds,
partly cash and partly scrip, of about per
cent in all. They moved up to 40, the
previous sale having been ut 81. The general
list was firm and closing prices generally show
advances. A few bonds tower, and Milwau-
kee, Lake Shore e. Western incomes lost g. at
90, and Mobile g Ohio first debentures. 81, at 49,
Government bonds were steady to firm
State bonds were very dull. Closing quota
tions were: