The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-04
CONDITION OF THE MARKETS
Wheat Opens at Lower Prices. but the
Decline Is Very Speedily Regained.
Corn Makes Firm Showing from Opening to
ClOse-Oats Without Interest-Lard Proves
the Feature Of the Day in Provisions.
MONEY, BONDS AND STOCKS.

Decrease of Activity I'm New York, with q
Feverish but Strong Closing.
NEW YORK, May 3.-Noney on call was
Easy at II al per cent, the last loan being made
st 9, closing offered at 2
Prime mercantile paper, sac per cent.
Sterling exchange was dull but steady at a. sc
Tor sixty day bills aud O. So for demand.
The total sales Of stocks to-day were
5000 shares, including the following: Della
ware. Lackawanna 81 Western, 3l,o50: Erie.
POSTS; Lake Shore, IA, AIS; Louisville e. Nash
wills, 9.425; Missouri Pacific, 1885; North
western, 500; Northern Pacific preferred.
POSTS; Oregon g. Transcontinental. 81, $50; Pa
cife Mail. 3,945; Reading. 10000; Richmond g.
West Point. q. 278; St Paul. 37,36l; Texas Pa
ciic, 4,72O; Union Pacific, 1880; Western
Union. 1925
The stock market was less active to-day, and
its course was irregular. though generally weak
In the forenoon. and fevsrish but stronger later
in the day. The London prices this morning
were again higher. and purchases for London
recount were made in this market which gave .
strong tone to the early dealings. but the trad
Frs were not yet ready for an advance and there
WAS very heavy selling from them for both the
hong and short accounts, and the improve
nent was quickly stopped The pressure was
particularly severe against the Gould stocks.
and Missouri Pacific and Manhattan were most
prominent in the decline At the low figures.
however. there was renewed purchasing for the
'long' account, and though traders and "bears"
resisted the advance, giving the market an nm
settled and feverish appearance. marked gain
s Sas s %sse tms TIM most b0.. wSs s.
sellers yesterday were again buyers to-day, and
there were evidences Of an early renewal Of the
upward movement. The special feature Of the
afternoons advance was Northern Pacific pre-
ferred, which was favorably influenced by nu-
nerous rumors in regard to the business Of the
company, and it touched its highest price In the
last hour. The Gould stocks followed closely,
Kansas q Texas being the only stock, beside
marked gain for the day. Missouri Pacific was
also very prominent in the late rise, a. was also
Oregon & Transcontinental and Richmond &
West Point, the late heavy buying Of the last
mentioned stock leading to the expectation that
samethine of Importance was to coms out in
she near future. The coalers and grangers were
very active, but their movements were compar.
ativsly unimportant, though some ''bear" cap
ltai was made out Of the apparent decrease in
the St Paul earnings for the last week in April.
The advances at the opening extend
ed to per cent, but there was little
further Improvement, and the market almost
Immediately became weak, aud with Missouri
Pacific in the lead, declines ranging up to per
was turned upward before noon. however. and
Northern Pacific preferred became the leader Of
the market. The tone Of the DEALINGS was very
feverish throughout the afternoon; frequent
changes from strength TO weakness were made,
snd the market finally closed rather heavy.
The great majority of stocks are fractionally
over this evening. but Northern Pacific pre-
ferred is up IL and Kansas d Texas It.
The railroad bond market was again more
active. and Notwithstanding the weakness in
the share list, generally strong. The feature Of
the day the Fort Worth & Denver frsts
which rose II to 81, sales of 1922, 900 ont of
total days business of 81, $4,000 The Interna-
tienal rsts sold, ex-coupon. to-day, and it is
ported that the lease to the Kansas 81 Texas has
been set aside, which will be Of benefit to the
latter, as il has had TO make good the interest
which the former failed to meet Chesapeake
& Ohio Southwestern seconds rose 2 to GO, and
e.. G., O. & l. consols. 2, TO lib.
Government bonds were dull and steady.
State bonds were dull and steady. Closing
quotations were: