The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-11-29
CONDITION OF THE MARKETS
Fairly Active Trading in Wheat, with
Considerable Buying by "Shorts."
Corn Closes a Little Lower After Narrow Fluc
tuatjHus-0ats Weak and Prices Go
DOTnGard-Brisk Business in Pork.
MONEY, BONDS AND STOCKS.

|
The Market Meets fractional Losses all
Arouxd, the Changers Leading the Drop.
NEW YORK. Nov. 28.-Money on call was
easy at 2 TO q per cent, the last loan being
made az q, closing offered at p.
Prime mercantile paper, A. 063 per cent
Sterling exchange was dull and easier at
a s4l for sIxty-day bills and s4.sS4 for demand.
The total sales of stocks to-day were 25l. 40
shares, including the following: Delaware,
Lackawanna & Western, 5000; Erie, 10, 700;
Lake Shore, %, 700; Missouri Pacific. Is. 135;
Northwestern, 9.20O; Norfolk & Western. :. LAG;
Northern Pacific preferred. 1850; Oregon Trans
continental, $500; Reading. s.. 200; Richmond e
West Point. $500; ST. Paul, 20. 700; St. Paul &
Omaha, 3,14O; Union Pacific, 16. 400; Western
Union. 10, 1000.
The stock market was quiet to-day and, while
heavy for the general list, made no marked
movement except in the graugers, which scored
declines extending to 6 Der cent. though a por-
ton of the losses were recovered before the
close. There was a general inGisposition to
operate among those interested in the market
this morning, and the trading during the fore
noon was devoid Of special feature. though the
grangers and the Omahas. in particular. showed
marked weakness. There was nothing in the
news OF the day to make any important change
In the market. but in the afternoon
there were plenty Of rumors put
aaoat, evidently with the object of depressing
the LIST. The special stock selected for this at
tempt was Rock Island, and 1t was asserted
that tee management was not IN favor or the
new arrangement among the Western roads,
and that it had refused TO advance rates. The
dividend was afterwards said TO be In danger OF
reduction, and the rumors were seconded by a
most vigorous attack upon the stock, which, on
an unusually heavy business for it, dropped 3
points. dragging all the grangers with 1t, and to
a less extent the rest OF the list. The reports
were denied in toto by President Gable. who
happened to be in town, and more favorable re-
ports in regard to trunk-line affairs net with
no response until toward the close, when
the covering OF shorts led TO a partial
rsiiy Ia the list. The Southern. Southwestern
held. but they were not able to make any head-
way against the general drift OF prices. not
withstAnding the support received.
The market opened with a fair degree Of ami
nation, while first prices were irreg-
ular. but generally hi hger, as. after
q little hesitation the market gath
cred strength aud moved up fractionally.
Rock Island, however, soon displayed marked
weakness. and the other grangers fell in be-
hind. and on an increased business the entire
80 LIZ " OAN go ~
out before noon. The afternoon saw stag
nation among the majority OF the
list, but the grangers still contin-
ned active and declined steadily, bringing
the rest of the list down to the lowest figures
toward delivery hour. Later, however. there
was o general Improvement, but the time was
too short to recover the losses of the day. and
while the market closed firm IL was at fractional
losses for the day. Rock Island shows a net
loss Of 4 per cent but the rest Of the list lost
fractional amounts only.
Railroad bonds were somewhat more active,
the sales OF all issues aggreeating $l,063. 900,
but the only activity noticeable was in
the Kansas & Texas issues, the SKIES
furnishing Sl2S,000 and the fives $97.-
900 TO the grand total. The feature of the
day was the advance and subsequent decline in
the international seconds, which, on the decis-
ion Of Judge Brewer. rose from "a to so, but
settled back to 75A; a net gain of II. The gen.
eral list shows little Improvement and no feat
ure. and the few important changes comprise
advances in Denver & South Park frsts, 3 to
70, and Alton d Terre Haute second incomes, 2
TO los; and losses in Houston g. Texas general
Tracts of 3, at SO.
Government bonds were dull but firm.
State bonds were quiet and somewhat heavy.
The closing quotations were: