The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-19
CONDITION OF THE MARKETS
A Sharp Break in Wheat, the Result Of
a Bulge That Was Trife Too Large.
Corn Opens at Higher Figures. but Reaction
Speedily FolIOWs-0ats Weaker-ProVi-
sions Active and Slightly Lower.
moNEr. BoNps AND srocKs.

an UnsettIed Market an New York, a Few
stocks Showing Marked Weakness.
NEW YORK, April 18.-Money on call was
easy 1t per- cent.
Prime mercantile paper. 507 per cent.
Sterling exchange was active and strong,
with actual business at a. So for sixty-day bills
and o. S7a for demand.
The total sales of stocks to-day were 233, 756
shares. including the following: Delaware,
LAckawanna & Western. %, 24O; Erie, 1890;
Kansas q Texas, 3,s4o; Lake Shore. 300; Lou
isyile q Nashville, 1888; Missouri Pacific, r.
3 .; Northwestern, 1910; New Jersey Central,
4,510; Oregon s. Transcontinental, 4595; Read
ing. So 500; Richmond q West Point, A,658;
St Paul, 1850; Union Pacific. II. $50; Western
Union. S,972.
The stock market to-day was somewhat I'M
settled for the general list throughout most Of
the day, and while fluctuations were unim-
portant few stocks displayed marked weak
ness The offer of the Treasury Department to
buy bonds caused rush to cover in the early
( morning, and the market was for short time
quite strong, but the selling by the foreigners
soon neutralized this influence, and the traders
started in to sell the list, finally wiping out
most Of the improvement. Kansas d Texas was
She hrst object of attack. and story that re-
! eeiver was soon to be appointed for the road
was indnstriousIy circulated, the effect
of which was to depress its price
II per cent, and even after
the ramon received official denial there was not
strength in il TO rally more than per cent
Missouri Pacific followed with marked decline,
for reason that could be seen. and the bullsh
feeling OF the opening entirely disappeared.
Norfolk & Western preferred next took mp the
decline. and the general belief was that it was
selling by the East Tennessee people, who
would now send all their business over the
Richmond & West Point The aforementioned
stock, however, gave no Indication that il
affected by the story. There was squirt in the
coalers toward the end of the day, but it's effect
confined to the narrowest limits in most of the
list, ana St. Paul was traded IN to the extent OF
%, $50 shares on an extreme range of only per
cent. The opening was strong at advances ex-
tending to per cent. and further gains rang
ing up per cent. we're established in the first
half hour. but the advance was then checked
and Kansas 81 Texas followed by Norfolk &
weakness, while the general list dropped to be-
low the opening figures After neo4 the market
became stagnant, though Missouri Pacific was
weak, but later the movement in the coalers
started aad the general list responded to a
limited extent. There further feature,
and the close was barely steady The active
stocks show irregular fractional changes for the
Pacific and Norfolk 81 Western preferred per
cent each
Railroad bonds were more active and again
firm 10 strong: sales, 81, O53, 600. Louisville.
New Albany 81 Chicago consols rose q, 20 90A,
and Ohio Southern first. II, to l05 Houston g.
Texas. Waco seyens, lost 2. at liz.
Government bonds were fairly active and
steady to firm.
State bonds were quiet and steady. Closing
Wra