The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-08
CONDITION OF THE MARKETS
Chicago Brokers Disappointed in the
Number of Orders from Outsiders.
Grains Slower and Decidedly Weak, with
Lower Range of Prices-An Increase Of
Strength and Activity in Provisions.
aroNEY, BoNps Asp srocKs.

Continued Activity at New York, the Tenden-
cy Being Generally Downward.
NEW YORK, March Money call was
easy at 293 per cent, the last loan being made
At 3. closing offered at 3.
Prime mercantile paper, 505a per cent
Sterling exchange was dull but steady at
$4S gor sixty-day bills and 81 ST. for demand.
The total sales of stocks to-day were 300, 7T2
shares. including the following: Delaware, Lack
awanna & Western, 5000; Erie, IT, 700; Lake
Shore. 7.225 Louisville e. Nashville, Is O7O
Missouri Pacific. 1920; Northwestern. 6O65;
New York Central. l.645; Reading, 1O6 900;
Richmond & West Point, 1885; ST. Paul. So
555; Union Pacific, II, 800; Western Union $3.50.
The stock market again more active to-
day, though the improvement in the amount of
business done was spasmodic and irregular. and
whis the list was strong in the forenoon il gave
way later and closed at the lowest figures re-
corded. London houses were most prominent
IN the selling during the forenoon, the move
nent being based on unfavorable reports IN re-
gard 20 the Emperor and Grown Prince of Ger
manv, which created increased uneasiness on
the European houses That interest also
conspicuous later the day. when more definite
news OF an unfsvoraole turn IN the CONDITION OF
the Emperor was received. The shorts
inclined TO cover during the early portion of the
day, and materially aided the rise at that time,
bnt the above-men I'll ned news. with the action
or the Brotherhood and rumor of a strike
Chicago. Burlington 81 Northern, precipated
duced some ''long" selling Reading.
st Paul and Lackawanna were the special
features of the day. and, In turn, became the
objects of the attacks of the bears which ran
their total transactions to high figures.
There very heavy selling in the Reading
crowd at the opening, but all the offerings Were
absorbed, and impression was made at the
time on the stock. but later it sold off with the
rest of the list, in which the reduction of coal
prices may have had something to do. Consid-
eraole excitement was made in St Paul. and
many rumors were ahoat in the stock,
port being that it practically cornered by
tbe1Standard Oil party; that firm short of it
and that the short interest in 10 was 100000
shares. The news from the strikes later brought
heavy pressure against the entire list but the
largest drive was at LsckAwanna, which became
the leader Of the market, and rapidly declined,
with the rest of the list following. The
shorts" who had covered early in the
day then made further demonstrations against
the leading stocks Some interest was taken
lin Louisville Il Nashville and Rich moni 81
West Point. and the contest for control in the
latter is said to be still on, but the fluctuations
gave no evidence of it. The opening was quiet
. and heavy to weak at declines from last even
inRs closing prices of from to per cent, but
The liss moved up at once, and, with very little
feature but the activity in Reading and ST.
Paul, advanced steadily until toward / o'clock,
when everything yielded and the declines In the
last hour, under marked increase in the
amount OF business done, gained force and the
lowest prices of the day were made at the close
which was weak and active With but few ex-
captions the active list is lower tonight,
though the losses sustained were for fractions
only, LackAwanna lost Ii; Louisville 81 Nash
ville II, and Jersey Central, per cent.
Railroad bonds showed little more ANNA
ton, the sales for the day amounting 81, 0l8,.
O0U which was remarkably well distributed over
the list The tone of the dealings, however, was
heavy almost throughout the entire day, and
while the final changes are for fractions only in
most cases. the important changes are generally
in the direction Of lower figures Detroit Macki-
nae b Marquette land grants lost q. at 364
Government bonds were dull but firm for the
&pnr-and- e-halfs.
quotations were: