The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-13

Heavy 70 Weak Opening, Followed by an
Advance Later an the Day.
NEW YORK, April I2-Money call was
easy at II 024 per cent, the last loan being
made at per cent, closing at per cent
Prime mercantile paper, 507 per cent
Sterling exchanges was dull but steady at
s4s5k for sixty-dAy bills and s4S7k for de-
} mand.
/ The total sales of stocks today were 207. 43O
shares. including the following: Delaware,
LAckawanna & Western. 9, 900; Erie, 7,775; Lake
Shore, 1880; Louisville & Nashville, 1850;
Missouri Pacific, Is, 825; Northwestern, 1929;
/ Reading. AZ, 400: Richmond & West Point,
} Z, 1870; St Paul, &c, 9l0 Union Pacific 12,e0O
Western Union. IL, 600
The stock market, to-day, presented no new
features other than those which have marked
the speculation for the past week, and while it
was heavy to weak in the forenoon, under the
hemmering Of the ''bears" and traders smart
rally in the afternoon wiped out the losses and
established gaiKs throughout the entire list
There was less business for outside interests
transacted than on any day this week. the
greater portion of the trading originating with
in the exchange, and, as usual IN such marker.
the ''bears" went searching for weak spots ana
uncovered ons in Missouri Pacific which broke
nearly q per cent. The same tactics were con-
ttinued until near delivery hour, though the i'm
preston made upon the majority OF the
iist was ingignifcant the fluctuations in
very few stocks reaching as much as per cent
for the day. There was very little news, but
the list was sold down reports of Hoods IN the
West, while considerable pressure WAS brought
against the trunk line stocks without any
marked result Later in the day. on the news
of the breaking Of the deadlock In Congress.
the 'tshortsv rushed to cover and the bulls
bought with confidence, which rallied the list
sharply The special strong stock OF the day
was Green Bay, which was advanced on rumors
that the Lackawanna had bought control, and
it is the ONLY stock showing marked advance
this evening. The first sales were made
at advances over last evenings figures
Of from ! to per cent. p put
and Missouri Pacific dropped over 2 per cent.
The GENERAL market. however, sluggish,
with very narrow fluctuations. but with weak
tone. which lasted until well into the afternoon,
when the course OF prices changed and every
thing began to recover the previous losses.
After delivery hour the advance gained force,
and before the close last evenings prices were
SURPASSED in almost every case, the recovery IN
Missouri Pacific being very remarkable. The
close active and strong, at the best prices or
the day. The entire list is higher this evening,
though advances are confined 10 fractions only,
the only stock showing greater gain being
Green Bay, with per cent.
The transactions in railroad bonds were
larger than usual of late, aRgregatug 81 $50 900,
though the increase is due principally 80 the
marked activity in Burlington & Quincy. Ne
braska fours, which contributed 1855, 900, and
Rock Island ives, $206. 600, The tone OF the
dealings firm to strong. though. an In
1 shares there was very little motion to the gem
era1 list. The features we're the strength in the
Green Bay issues which were advanced On the
same reports which affected the stock South
Park hrsts %, TO 81; Green Bay hrsts, 3,
to 100; the incomes. g 10 33; New England
frsis, 3. to 1854; Texas Pacific consols, trust
receipts q. to lO4
-A Government bonds we're dull and steady.
Il State bonds were duh and steady, Closing