The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-17
CONDITION OF THE MARKETS
Moderate Trading in Wheat, Accompa-
MED by Weakness and Lower Prices.
light Business in Corn, with Slight Down
ward Tendency-0ats STANDARDIZATION
Dali, with More Sellers Than Buyers.
MONEY. BONDS AND STOCKS.

An Increase of Activity az New YORK.. Ac-
companied by a Feeling of Weakness.
NEW YORK, March 16-Monoy call
was easy at 213 per csnt., the last loan being
made a. 2; closing At 2124.
Prime mercantile paper 505a per cent.
Sterling exchange wac dull but steady q.
81 s5S for sixty-day bills. and 81 S7s for demand.
The total sales of stocks to-day were 49,
PSI shares including the following Delaware,
Lackawanna & westerns, .. 255; Erie, 1900;
Lake Shore. $500; Louisville & Nashville,
500; Missouri Pacific, 1850; North western.
4. 500; Reading, 40 300; Richmond & West Point,
ALTO; ST. Paul. 1870; Western Union. $3.50.
The stock market was again very weak TO day,
and under the heavy selling developed more ac-
tivity than has been seen at any previous time
during the present week. while material declines
were established in some stocks. The absence
of foreign buying orders in consequences of the
the lack Of telegraphic facilities encouraged the
bears 20 hammer the list again, and the strike
On the Atchison, with the uncertainty in regard
50 the dividends on the Gould stocks, were made
the special occasions of the raids. though the
pressure 9as transferred to the coal stocks later
IN the day. The frst drive was made at Mis-
Bouri Pacific, the report that the rad would
not pay o dividend this quarter, out it is Off
cially announced that the meeting as TO payment
of a dividend is set down for next Thursday, and
that the only question is whether IL shall be II
or IL per cent. those in favor OF a large surplus
reserve advocating the former Union Pacific
was next attacked, the strike having. according
30 reports extended to that and other Western
roads. and Burlington 81 Quincy ard several spe-
cialties made marked declines. The success in
clearing" those stocks encouraged the raiders to
axtend their operations to the coal stocks, and
Residing brought down a fraction. There
was better feeling just before the close. and in
some cases small gains were made, but they had
nc effect on the general list Wheeling q Lake
Erie was marked exception TO the course of
the general market, being strong On small sales
but it is officially announced that
the FIRST quarterly dividend of l per
cent will be paid on April Is. and
the certificates of preferred stock will be ready
on April IL. The first sales this morning
were made at irregular changes from last even
inR's figures, but the market was very duh and
BOON became weak under the lead OF Missouri
Pacific This state of affairs continued until
afternoon, when, on an increased business. moro
marked progress WAS made toward lower figures,
and Union Pacific assumed the lead. The coal
stocks were next most prominent in the deal
fngs and there change in the temper of
she speculation. the market finally closing weak
with the one exception noted above q. is lower TO-
night, and Tennessee Coal is down q; Union
Pacific, IL Burlington, Is; East Tennessee
frat preferred, II; Reading and Missouri Pa
cihc, II each.
Railroad bonds were in close sympathy with
shares, and showed weakness all day; sales,
s624O0O.
Government bonds were dull and steady to
firm.
State bonds were neglected Closing quota
tlons were