The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-22
CONDITION OF THE MARKETS
Large Transactions in Corn, Accompa-
MED by Scenes Of Great Excitement,
The Net Result Being a Slight Decline in
Frices-Wh4at Also Sells at lower Fig
ures-04ts Wesk-PrOyisiOn Higher.
MoNEs, noNps ANp sTocKs.

an Weak and Declining Market, the Gould
stocks Suffering More than Others.
NEW YORK, March 2l.-Money on call
was easy at II 13 per cent, the last loan being
made at g. closing at goa
Prime mercantile paper, 5051 per cent.
Sterling exchange was quiet but firm with
actual business at 81 $50 for sixty-day bills and
81 SO for demand
The total sales Of stocks to-day were 29O-
1877 shares. including the following Canada
Southern, 4.500: Delaware, Lackawanna g
Western. 2s205; Erie, 7lOO Lake Shore. 1880;
Louisville Nashville g. 100; Missouri Pacific
I6,O35; Northwestern. 1l.OO5; Reading. $1,000
Richmond & West Point. $3.50; St. Paul. 3d.
49, Texas Pacific. 5.275; Union Pacific, 7,125;
Western Union, 25,s70.
Y The stock market to-day was weak and de-
alIning almost throughout the entire tirne and
ate in the day heavy drive at the Gould
bpecialties broke the whole list, and prices are
materially lower a result of the days OPERA
SIons. The great feature of the day was the re-
pewed weakness in Missouri Pacific. and the
break in it this afternoon demoralized, for the
time. the entire list 1t scored an extreme de-
eIine of 6 per cent. and Western Union. Pacific
Nail, Texas Pacific and Manhattan al showed
marked weakness and among the stocks
showing the largest new declines this evening.
Outside of the Gould properties, New England
was the only stock prominent for its weakness,
though in the last hour. when the demorallza-
zion became complete, the weakness reached
even those stocks which have been well sup
ported for some time. The traders went round
the room se6&ching for weak spots, and
successful to q marked extent The news of
Ghs day was not favorable TO an advance In
prices. though nothing OF importance was re-
faeived except the advices from Chicago; but the
discussion Of the Missouri Pacific report over
Swallowed erything else as a topic of conversa-
!tion, and the sbears" worked it up to a decided
sensation. The first sales were made at ir-
regular changes from last evenings prices. but
the temper 81 the room was bearish and buyers
were holding off, Under the circumstances
prices settled down. with New England the
special feature. The business done underwent
. marked increase after noon, however, and
the decline gained force, but it not until
the last hour that the drive was made at
Missouri Pacific and it carried down.. to-
Rether with the rest cfthe list The close, after
O slight reaction, was quiet but very weak, at
or near the lowest prices reached. The most
important net declines are: Missouri Pacific,
Ba; New England and Western Union. 81; Pa
cifc Mail and Tennessee Coal, 2; Manhattan.
IA; Michigan Central III; Norfolk 81 Western
preferred, II; Canada Southern, st. Paul and
Texas PACING. II. Reading and Lake Shore,
per cent
Railroad bonds were dull. the total transac-
tions amounting to only 1872, 900. but the tone
of the market was generally heavy, and most
issues are lower to night. Denver & Rio Grande
Western assented lost 8. at 60; Wabash general
receipts, 4, at Al, and Kansas g Texas sevens,
81, So
C9overnmsnt bonds were dull and steady.
State bonds were entirely neglected. Closing
quotations were: