The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-01-31
CONDITION OF THE MARKETS
Wheat Opens a Shade Lower. and a
Bearish Feeling Prevails.
Corn Fairly Active. with TOlerably Steady
:Feeiing--0ats Weak-PrOvisiOns Sell at
lower Prices for All Kinds of Product.


A strong and Active Market, with q Season
of Dizziness in the Middle of the Day.
NEW YORK, Jan. 3O.-Monsy on call was
easy al q az per cent the last loan being made
ut 3, closing offered at g.
Prime mercantile paper, 507 per cent
Sterling exchange was dull and weak at $4.s3A
Tor sixty day bills and 81 53 for demand
The total sales of stocks to-day were 2l6,-
s7s shares including the following: Delaware,
Lackawanna g. Western. %, 354; Delaware &
Hudson. 3,246: Erie, 1850; Louisville IS Nash
Vile, 1890; Missouri Pacific, $685. Northwest
ern, ID 342 New Jersey Central. 1920; Reading,
$3.50; Richmond & West Point; 9,1O0; St. Paul.
Is, s55; Texas Pacific 4,625; Union Pacific, $500;
Western Union. 20, 765.
The stock market was, in the main, strong to-
day and active at both ends Of the day, but dull
and stagnant during the remainder of the time.
the net result of the operations being irregular
changes from last weeks figures. The prevail
ing sentiment was quite bullish in the early
morning, and everything advanced for short
time, but 1t soon became evident that free liquid
alton was in progress, aud the advance as well
az the activity was checked. The "bea-s" used
the great FIRE in this city as an argument against
the market. the inference being that securities
held by the insurance companies would come
upon the market; to this was added the reports
of rate-cutting in the West, but the effect upon
the list was not of special importance,
though buying was temporarily checked.
The principal terest was centered in the coalers
and grsngers, but of these Delaware 81 Hudson
alone fuc;uated over range of moro than
per cent Reading, however, became the leader
of the market once more In the last hour, when
the buying was better than at any other time of
the day The conspicuous weak spot was Mis-
souri, Pacific, which was affected by the persist
ent rumors in regard to 1t and i;s kindred stocks
Free rea1izstions were in a great part respon-
sibie for the temporary back of the fore
noon. but these ceased before the end of the day.
Prices were firm to strong at the opening at adj
vances over Saturdays final figures of from to
per cent, ana further fractional gains were
recorded in the first hslf-hours trading, but
after that time there was q sagging tend ency
which accompanied the constantly -decrea sing
volume OF business, and lasted until near the
last half hour. Prices were brought down below
first figures in many cases. though the only
marked decline was in Missouri Pacific There
was a general advance after delivery hour,
which, however, was confined to fractions only,
and the close quiet but firm at but slight
changes from first prices, as rule. Advances
in majority this evening, though they are
confined to fractions. and the only important
final change is decline of Il in Missouri Pa
cihc.
The market for railroad bonds was somewhat
less active this morning out the strength of the
advanced during the day. The days business
aggregated 81, 654 600. to which Nickel plate
tours contributed $40, 900; st. Paul, Fl. ID.
revenues, rose 2, to 125; Texas Pacific consol
transfer receipts, 4, to l04 and Wabash convert
ibles, Al, to 874.
Government bonds were dull and steady.
State bonds very dull and fsatureless.