The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-04
CONDITION OF THE MARKETS
AQuiet and Easy Opening at Unchanged
Prices, with a Bearish Tendency.
Heavy Buying Of Wheat, However, Finally
Results in Slight Advance-Corn and Pork
Dull, but Lard and Ribs Fairly Active.


A Dull Market in New York, Prices Gener-
ally Showing a Dropping Tendency.
NEW YORK, Feb. 3-Money call was
hasy at 2024 per cent, the last loan being made
1t 2fc. closing offered at q.
Prime mercantile paper, sal per cent
Sterling exchange was dull and weak at
o. s3i for sixty-day bills and g. e54 for demand
The total sales OF stock to-day were 18l. $50
shares, including the following: Delaware,
Lackawanna g. Western, 1900; Erie. IA. 10;
Lake Shore, 6, 800; Louisville g. Nashville, 15,-
500: Missouri Pacific. 5,027 Northwestern. IA
l20 Reading, Al, $780, ST. Paul 36, 995; Union Pa
ciic, g. $40; Western Union, $50.
The stock market was very dull to-day, ex-
cept In N few stocks. and prices had dropping
tendency throughout most OF the day. The en-
tire interest in the trading was eentered In
Reading, Lackawanna, Delaware 81 Hudson. st.
Paul. Louisville 81 Nashville Another deter
mined raid was made by the "bears," but with
slight effect except In Louisville q Nasnvne,
lackawanna and Delaware q Hudson, and each
OF these made material recoveries from the
lowest prices reached. The general feeling on
the street 10 cor servatively bullsh. and the evil
dences that the railroad business OF the country
will exceed for the present year that of8ast year
makes il difficult 70 purchase any large
blocks OF securities, while the heavy Dor
rowing demand for the past Few Gays
indicates q considerable increase in the out
standing ''short" interest, and this is especially
noticeable IN Lake Shore and st. Paul The
the heavy selling of st. Paul, yet the price or
the stock fuctuated within y range OF only
per cent. for the entire day and displayed
most stubborn strength under the circumstances.
The attack was made afterward upon the coal
.ers accompanied by rumors of further trouble
In the mining regions, but Reading held mp, as
St Paul had done, though more impression was
made on Lackawanna and Delaware 81 Hudson.
The day was finished by fierce drive against
Louisville 81 Nashville. which, when the press
ore was removed. reacted with the remainder.
Among the inactive stocks Atchison advanced
sharply on a small business, but the rest were
featureless throughout
At the opening the market was dull and weak,
but some Improvement was made in quotations
In the first hour, though the advances were
measured by insignificant fractions. The usual
extreme dullness ensued, and prices again
saeged off slowly until well into tho afternoon,
when the coal stocks showed decided weakness
and more animation marked the trading. Thede-
cline was checked before the last hour,
however, and small reactions took place. leav-
ing the market at the close dull but firm at
something better than the lowest prices OF the
day Almost everything is lower tonight, but
the declines in no exceed fractions, Louis
vile IL Nashvi losing Il Omaha, l. and the
rest smaller fractions.
The railroad bond market was comparatively
dull; sales, 1913, 600. Prices were generally
firm. Chesapeake e. Ohio SKIES 2, to 100;
Missouri Pacific thirds, 8, to 118; Toledo, Ann
Arbor g. Grand Trunk hrsts, 3, to los; Wabash,
Detroit seconds, 2, to 81
Government bonds dull and firm.
State bonds dull and steady. Closing quota
tons were: