The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-07
CONDITION OFTHE MARKETS
The Chicago Spectators Devote Their
Attention to the Provision Pit.
Wheat Starts Firmly, but Weakens Later in
the Session-Corn Shows Little Activity
and Weakens Under Liberal offerings.
MONEY. BONDS AND STOCKS.

A Dull Market i'm New York, Though There
Are Many Indications OF Strength.
NEW YORK, Fob. Mooney on call was
easy ~ 2 "A per cent, tke last loan being made
ct per cent. closing at 203 per cent
Prime mercantile paper, 507 per cent
Sterling exchange steady at a. 639 for
sixty-day bills and a. s54 for demand. "A
The total sales OF stocks to-day were Isl. 123
shares, including the following: Delaware,
.Lackawanna 81 Western, 1920; Erie. $500;
Lake Shore, 4,07s; Louisville s. Nashville,
1850; Missouri Pacific, 5000; Northwestern, 10.
O50 Northern Pacific preferred. 5000; Reading,
"a, $50; Richmond s. West Point, $50; St Paul,
1850; Union Pacific. 1885; Western Union,
1885.
The stock market, while dull, displayed nm
doubted strength to-day, and that La the face OF
unfavorable advices from several sources. and
prices are left fractionslly higher in most cases.
The news of the morning was calculated to have
o very depressing effect upon values. and the
reports from the Other side of the water caused
free selling by European houses, but there were
supporting orders In the market and more gen
oral commission orders have been placed than
on any day during the past six months. The
extraordinary demand for stocks in the loan
crowd and the liberal borrowing indicated .
stocks, and purchasing for both sides Of tine ac-
count kept the market slowly moving upward.
The later advices from Europe had a reassuring
effect upon the foreigners, and they became
buyers, while the unfavorable aspects
of the Reading strike and the railroad war in
the Northwest, whose ferceness indicates that
it viii be Of short duration, had little effect upon
the stocks most interested. There was large
inside buying of Western Union ON the ground
OF q heavy increase in the earnings, but the
other Gould stocks were not 90 firm, and con-
siderable impression was made upon Missouri
Pacific. 1t is positively announced that Mr..
die Of March, instead Of April, as published this
morning Manhattan to-day reacted somewhat
from the depression Of last week, and late in the
and Reading were firm all day long, and
the dealings in st. Paul attracted much
attention though the fluctuations were
down from to per cent and with the excep-
ton Of Missouri Pacific and Northwestern the
entire list quickly rallied, but after advancing
small fractions became dull and listess. West
ern Union, however, assumed the lead toward
noon, and further gains were recorded. In the
afternoon marked weakness was developed in
Union Pacific, the trading selling 1T down until
q stop order was reached, when they jumped on
it and forced il down over per cent. When
the pressure was removed. however, it reacted.
and its final change 10 Insignificant firm
tone marked the dealings for the entire day,
and the close was dull but firm at about the
best prices reached. Final prices are irregular
Dut generally nlRner, anu only iractOudiy
changed, except Manhattan, which is up IL per
cent
Railroad bonds were quiet; sales, ST. 000
aud for the first time is many weeks the mar
ket was positively weak, though the declines
were not generally for important amounts.
The losses were generally made ut the opening,
after which prices were well held except in a
few special cases. but there was no improve
ment in quotations, and most issues are slightly
lower this evening.
Government bonds were dull and steady
State bonds were neglected Closing quota
tons were: