The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-01
CONDITION OF THE MARKETS
Strong "BuIl" Feeling, Despitethe Rains
and a Decrease in the Visible Supply.
Frequent Fluctuations and Considerable Ex-
element In the Wheat Pit-Corn Trifs
Higher-Pork Higher and Very Active.



An Active and strong Opening, Followed In
the Afternoon by q Reaction.
NEW YORK. April 90 -Monsy on call was
easy. ranging from 2a2s per cent. the last loan
being made at 2, closing offered as2.
Prime mercantile paper. sac per cent
Foreign exchange was fairly active and barely
steady at s4s6i for sixty-day bills and s4.s7iS
fs8 for demand.
The total sales Of stocks to-day were 395. 7s4
shares. including the following: Canada South
ern. .254; Delaware, Lackawanns & Western,
5000; Erie. Il, 900; Kansas & Texas. $500; Lake
Shore. 1l.s60; Louisville 81 Nashville, 1904;
Missouri Pacinc, IA. 935; Northwestern, 8.120;
Norfolk g. Western, preferred, 1921; New Jersey
Central, 2,776: Northern Pacific, 2,370; Northern
Pacific preferred, 1695s; Oregon q Transconti-
mental, 1920; Pacific Mail. S.s79; Reading. &C.
700; Richmond 81 West Point IL, 625; St Paul.
g. 1855; Texas Pacific, ,298; Union Pacific, 26.-
166, Western Union, %. 255.
The stock market Was very active and strong
In the forenoon to-day. but reacted and became
quiet later 10 the day and large portion Of the
gains were lost. though the list, ~ rule, were
frsetionnlly higher this evening and marked ed.
vances were scored Ia few stocks. London
prices came very much higher than our closing
prices Saturday, and there was . heavy
foreign demand for stocks, seconded by liberal
purchases for outof-town parties. This made
very strong opening. and In spite OF very heavy
rance was not only maintained but increased,
though the pressure TO sell finally began to
show, when the demand Stacked of. All tho
Loudon fsvorites were prominent In the
rise. but the chief interest was In New England
and Missouri Pacific, which again made marked
gains. and new rumors were adoat In regard to
the former. which. however, lacked confirmation.
Other specialtiss were very strong, and among
the rest Pacific Mail went mp on the brighter
Nashville. Norfolk 81 Western preferred, San
Francisco, and Wheeling g. Lake Erie preferred
became. conspicuous for the advances made.
The news OF the day was, on the whole, not IA
vorable, but the street paid little or no atten-
ton to 1t and il had no appreeisbls effect on the
course Of prices The opening was very strong
and active. and first prices were from 70 Der
cent above Saturdays final figures, the latter
In Missouri Pacincs Excspt IN . few stocks,
among which Missouri Pacific, Wheeling 81
Lake Erie preferred, San Francisco, and some
others, which were very strong, the general
list after slight further advance. retired
70 the neighborhood OF 1rst prices,
but lister more strength was shown and
fractional gains were made throughout the list.
Chicago. Burlington Quincy, however. was
marked exception to the general rule, being de-
eidedly weak throughout the day. and IL finally
were generally reached Just after noon, when
Union Pacific, Missouri Pacific and New En-
gland made material declines. while the rest of
the list moved very slowly. There was very
little change in the tone Of the dealings until
the close when better feeling Was shown and
the market closed barely firm. The Anal declines
are more numerous than usual last week, but
they are confined to small fractions, while
Missouri Pacific and Norfolk q Western pre-
ferred rose 2 per cent each: San Francisco, u!
Louisville & Nashville, II: Pacific Mail, IL;
wheeling d Lake Erie preferred, IL per cent
The railroad bond market was very active. the
total sales reaching 81, l63 600. the principal
trading being in Ft. Worth & Denver hrsts.
which were largely bought at e34 os33 on sales
OF s296 o00 The tone Of the dealings was
strong throughout. though the important final
change in quotations are few. St Paul, La
Crosse division sevens, however, rose 2 to 1164;
Internstional seconds, 81. TO 67 Kansas 81
Texas fves, q. to 60}, and Norfolk d Western
adjustments, 4. TO los
Government bonds quiet and steady.
State bonds quiet and firm. Closing quota
tious were: