The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-08-21
CONDITION OF THE MARKETS
Wheat Opens Fairly Active and Strong,
and a Decided Advance Occurs.
Corn Dull and Heavy, Closing at the Figures
Current on Saturday-0ats q Trils Lower
Provisions Active and Stronger.
MONEY. BONDS AND STOCKS.

A Dull but Generally Strong Market Tor All
Except the Leading Stocks.
NEW YORK, Aug. 20-Money on call was
easy at i q per cent, the last loan being made
ct II, closing offered at Ii per cent.
Prime mercantile paper. 4io6 per cent.
Sterling exchange was dull but firm at 81 S4t
for sixty-day bills. and s4.s7i for demand.
The total sales of stocks to-day were III. 277
shares, iucluding the following: Delaware,
L~aekswauns 6 Western. q. ITO; Erie, 4, 100;
Kansas & Texas. 1.04O: Lake shore, 1885; Mis-
,ouri Pacific, 800; North western, $3.50; Read
Ing. q, 74o; St. Paul, 3o.sOO; Texas Pacific,
400; Union Pacific, 1850; Western Union,
1889.
leading stocks, but was generally strong during
MOST Of the time. The interest in the s~pecula-
hon was monopoltzed by six or eight stocks,
shile the remainder were dull and generally
With small fluctuations OF little or no signif-
,snee. There was o better feeling among the
commission people on the street this morning,
and the newsfrom growing crops was OF the best
character, which had the effect OF opening the
ms.het up from ! TO ! per cent, with New Eng
land exceptional with a gain OF I per cent. Chi
cd2O was q eeli6rs however, huQ the LfauerS
started in with that interest to bring about o
further reaction. and in the early trading they
did succeed II knocking OF quotations from ! TO
per cent, the latter in Missouri Pacific.
London vas moderate ssyer' n9w.
of buying orders in the market in the hands Of
commission houses. which served to check tho
decline before the end OF the first hour. IL soon
became evident that the Chicago people were
running on their shorts and the traders soon
frIl0uoa rhfeh -0aua for fhA TINA q hnouanS
tone to the dealings, and the rise inaagurated
lasted until l30 p. n II was said on the street
that 10, 200 shares of ST. Paul had been called
In for shipment to Europe. aud as il became evil
dent that last weeks reports of damage to the
crops had been grossly exaggerated o more bull
ish feeling developed among the traders, and the
grangers Immediately became prominent in the
rise, Burlington Il Quincy leading, with q gain
or over 2 per cent, though q portion of it was
lost in the later dealings. There was o little
more animation after noon. when the coalers
and the Gould stocks came to the front, and
Western Union and Missouri Pacific were spe-
cially active, which was in some directions re-
garded as at least significant The Improvement
was also helped by rumor or o combination
having been formed to protect the market
against further attacks and to sustain some of
the leading stocks in particular, but the buying
Stacked on toward 2 p. NJ though O slight
reaction from the best figures was again ap-
proxirnated. No further feature marked the
final transactions. and the close. while dull, was
firm at or near the highest prices of the day.
The final exchanges are almost invariably in
the direction OF higher figures, and the active
List shows material gains throughout.
The railroad bond market was dull, the only an
nation noticeable being in the Reading issues,
and the fluctuations were unusually narrow. The
tone OF the dealings was firm throughout, but
the final changes. in all except a few isolated
cases, are for Insignificant fractions only. The
total sales amounted TO 81, OBJ. 900. bat the only
marked change was an advance of ] in St.
Louie & Cairo tours to 70.
Govern ment bonds were dull, but firm.
State bonds were entirely neglected. Closing
quotations were: