The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-28
CONDITION OF THE MARKETS
Chicago Spectators Put in Most of the
Time in Changing Their Options.
The Radical "Bulls" Hope to Start Another
Advance in Wheat and Force the Price Up
to $I-COrn Irregular and Lower.


An Tacrease of Activity at New York, but
Nearly All Stocks Are Lower.
NEW YORK, April 27.-Money call was
easy at II 024 per cent, the last loan being made
1T 2, closing at 302.
Prime mercantile paper. Al 05l per cent
Sterling exchange was qniet but steady
&C 1885, for sixty-day bills and $4.ss for de-
maad.
The total sales of stocks to-day were 44O, Ala
shares. including the following; Canada
Southern, 1850; Delaware, Lsckawanns 81
Western, 14O65; Erie Is. $50; Kansas & Texas,
3266; Lake Shore. II, 395; Louisville s. Nashville,
ISIS: Missouri Pacific, 14,s70; Northwestern,
p340; Norfolk 6 Western. preferred, 4,235; New
Jersey Central, $780, Northern Pacific,
preferred. 1880; Oregon & Transcontinen-
tal IL 725; Pacific Mail, 7,045; Reading, lOl $50;
Richmond g. West Point. 20.500; ST. Paul,
44,0s5; Texas Pacific, 1855; Union Pacific, 1S,-
30; Western Union, 81, 49,
The stock market was more active than on
any day since the present advance began, and
while marked advances were established In
few stocks, among which New England and
the Gould stocks were most promlnent, the list
was sold down in the afternoon. The general
pentment of the street WAS in favor OF reac-
fion this morning, both the bulls" ana bears"
being OF the same mind on this point and heavy
eelling at the opening marked prices down frac-
tionally; but the renewed buying for outsiders
soon sent them up again. There were many OK
plantations of the sudden sharp movement In
these stocks, but all Of them lacked confrma-
ton and the street is in the dark as to the real
pause of it, The Gould stocks afterward as
Bumed the lead. and Manhattan made one of its
rapid strides. shooting mp nearly
8 per cert. followed closely by Missouri Pacific.
Other stocks were strong. but the interest cen
tered almost entirely in the stocks mentioned
The buying Stacked off late in the day. The
professionals seized the opportunity to bring
about the much-desired reaction, and London
was seller TO = moderate extent, which encour-
aged the operators for decline, and most OF
the early gains were wiped out. except for the
strongest stocks of the forenoon. The opening
was firm with the first sales showing advances
generally of from to per cent. but prices re-
acted imm ediately, and fractional declines were
established over the entire list This was OF
but short duration, however. and, on a largely
Increased business, prices again moved up. with
Northern Pacific preferred and the Gould stocks
IN the lead. The market developed no further
feature until after IL o'clock, when Pacific
Mail started up followed by New England
and Jersey Central. Manhattan, however, ad-
vanced very sharply. and scored the greatest
advance OF the day. In the last hour the selling
was renewed, and prices moved of even more
rapidly TRAN they had risen in some cases, the
Richmond g West Point stocks being especially
prominent The close was active but quite
weak, leaving prices irregularly changed. A
majority OF the active list 10 lower tonight, for
she hrst time in many days, but the losses, with
&hs exception of Richmond 81 West Point
which declined per cent, are confined to frac-
lions, while Manhattan rose q; New England,
IL, and Missouri Pacific per cent.
The railroad bond market was still more
active, the sales reaching 81, 970, 000 and while
the dealings showed strong tone there was
very little feature to the trading beyond the ami
nation in the Fit. Worth 81 Denver frsts which
furnished STA, 900 out of the total. Interna-
aevsns, s, to 90; and Shenandoah Valley first
certificates 2, to 50.
Governments bonds were quiet and firm.
State bonds were dull AID steady. Closing
49, -