The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-11
CONDITION OF THE MARKETS
The Government Crop Report Proves a
Boomerang for the Spectators.
A Sharp Advance Follows the Announcement
ofths Figures. but Quick Decline En-
sues--Provisions Easier and bower.


a Dscreass % AcsfvSsy, Accompanied by
Gessr.Iry Weak and Feverish Feeiing.
NEW YORK, May 10-Money on call was
easy st Il % per cent, the last loan being made
~ 2, closing az az
Prime mercantile paper. A. a6 per cent
Sterling exchange was active and firm It
o. s63 Tor sixty day bills. aud 81 Ss1 for demand
The total sales of stocks to-day were
POI, al shares. including the following: Canada
Southern, 3,6o0. Delaware. Laekawanna Il
Western. 6,3l5s Erie. 1l.l00; Lake Shore,
Is AS; Louisville & Nsshvilis, 6.000; Missouri
Pseihs. 12l00; Northwestern, 5.lo0; Northern
Pacific preferred. 500, New ENGLAND. 17.17s;
Oregon q Trauscontinental. $3.50: Reading.
$780, Richmond & West Point 1l,5l5; St
Paul 81. 600; Texas Pacific, 5000; Union Pa
cinc. q. 700s Western Union. 6.655.
The stock market was less active today, and
keusrally weak and feverish throughout the
day, with the exception Of the first hour The
improved feeling of Yesterday still had 90 me ef-
fest this morning. and first prices were gensr-
ally from TO 4 per GEN. above last nights
figures IN the active stocks. The shorts made
IAN effort TO cover, and further Improvement
was made in the early trading. The Gould
stocks, however, were special features of the
morning, shooting up rapidly about per cent.
each, Int az quickly losing the advantage.
After the demand from the shorts was In q
Bank of England rate, with the engagement Of
ESQ. 900 for export by . prominent banking
house put a check upon the advance, and
the "bears' and traders used the pro-
posed completion OF the South Penn
coupled with rumors Of discord ss
The trunk-Ilns meeting, against those
stocks. and some mpression was made upon Lake
Shore, the rest of the list following, while the
market became dali and the transactions unin-
tsrsstina. The crop report was next made the
handle for an attack upon the graneerss and
there vas marked selling OF those stocks from
Chicago. The .'bears' removed their pressure
toward o'clock. and better feeling was mani
fsstested throuehous the list, and buying was
ipdulged In again, more animation being accom-
panied by an upward movement in prices. Man
haitian was again the leader Of the advance, but
fucsuatsd wildly after the best prices were
reached. The last hour. however, saw . re-
came extremely weak. and Reading followed.
being weaker than at any previous time OF
the day. The close was quister. but weak
Nc or near the lowest figures reached.
There we're few fractional gains, but the act
i've list is decidedly lower this evening, and
Texas Pacific is of 2ac; Burlington & Quincy,
2sc; Reading, 12c; Canada Southern. Lake Shore
e. Union Pacific 14e each; Western Union and
Nortwesteru, lie each. and New ENGLAND. per
cent The new stock OF the Texas Pacific was
traded IN upon the board for the first time to-
day, and was weak, closing at 194c, after selling
as high a. 22&c.
Railroad bonds were quiet but very Irregular
The only features we're the advance and subse-
quent decline in the Kansas 81 Texas issues. and
she activity and strength in the Wheeling q
Lake Erie frsts The Kansas 81 Texas SKIES
furnished Sl39, 600 out Of total days business
Of 81 l32. 900. There is still good investments
demand for bonds. and large amounts are being
placed outside of the Exchange. Kansas &
Texas sevens rose 3, to SO; St Louis. Vandalia
d Terre Hsute frsts, 2, to III, and Colorado
Coal irsts. 81, to 1885,.
Government bonds were dull and rather
heavy
State bonds were duh and steady. Closing
quotations were: