The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-08
CONDITION OF THE MARKETS
The Day Begins With General Break
in Prices and q Bearish Tendency.
Everybody Being Anxious to Sell, a Speedy
Decline Sets In, Which Is Checked for
Time, Followed by Very Weak Closing.


a Very Uninterestins Day In New York. but
the Market shows Great Strength.
NEW YORK, Feb Money call was
easy at "a az per cent, the last loan being made
ut n per cent closing offered at q per cent
Prime mercantile paper, SAT per cent
Sterling exchange was dull but steady at "a s34
for sixty-dsy bills and "a. s51 for demand
The total sales of stocks to-day were liz. 1S9
shares, including the following: Delaware,
Laekawanna G. Western, $500; Lake Shore.
1850; Louisville g. Nashville, 1850. Missouri
Pacific, 4072; Northwestern. 10000; Reading,
23,640; ST Paul. 1870; Union Pacific, 10. 700;
Western Union, $500.
To-day's stock market was the most uninter-
esting one for many days. but it was remark
able for the decided strength displayed in the
face OF food of uufavorable stories which ordi-
nariiy would have caused a marked depression.
discriminating the dizziness, brokers in invest
ment securities say that they have large orders
for dividend-paying stocks and taking ad-
vantage OF the bear" attacks to I'LL them, which
may, in some measure account for the stub
bornness of the market SO far this week. The
'sbea.s' renewed their attacks the list in the
early morning. when the London houses were
the only buyers OF note, but great strength Was
shown. especially in Western Union, Union Pa
cihc aud certain speeialties, most prominent
among which were Manhattan, Lake Erie %
Western and Atchison, the advance in the lat
ter being looked upon as sufficient dis
proof of the rumored fight between
that road and the Missouri Pacific. The second
the directors meeting to be held next Thurs
day. The fluctuations among the active list
were in few cases for more than fractional
amounts. Jersey Central probably being 1.-THE
only exception. The opening was made at ad-
vances extending to per cent on a very dull
market, and further fractional advances were
made in the first hour. with Wheeling & Lake
Erie the only prominent feature. The dull
Mesa steadily grew more intense un-
til delivery hour. after IL o'clock, and
prices rather heavy, most Of
the early advances being neutralized, but the
close was steady though very dull at close TO the
opening figures. Closing prices were somewhat
irregular, but generally higher. as compared
with last nights prices, though the gains were
for small fractions only. except in Manhattan,
which p, and Lake Erie e. Western, J.
The railroad bond market recovered its tone
this morning; sales, 1884, 900. Prices remained
firm to strong throughout. and almost every
thing is higher this evening. St Paul. Chicago
& Pacific SKIES rose 2. to 122: ST. Paul 81 Minneap-
oils frsts, q. to 1861; Lackawanna sevens of
1907, q to 140 Morris q Essex seconds. "a, to
1104; Denver 81 South Park firsts, q, to S0z;
Flint & Pere Marquette SKIES 81. TO 1911; South
Carolina seconds. 81. TO 844; Shenandoah Valley
first certificates, p, to 92<
Government bonds FL and steady.
State bonds neglected Closing quotations
were: