The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-08
CONDITION OF THE MARKETS
Adult Opening at Chicago, Followed by
Very Active Trading in Wheat.
Corn Fluctuates Within q Marrow Range,
Large Receipts Preventing an Advance In
Prices-Provisions Quiet and Steady.
MONEY, BONDS AND STOCKS.

\ Moderate Degree of Activity I'm New York
the Actsvs List Being Lower.
NEW YORK, May Mooney on call was
vsy at IA az per cent, the last loan being made
n 2. closing at 1sa2.
Prime mercantile paper, 5a6 per cent.
Sterling exchange was dull but firm 1T $As69
or sixsy-dsy bills. and 81 ssi for demard
Tho total sales of stocks to-day we're
~, 673 shares. including the following: Canada
southern. 4,505; Delaware. Laekawanna %
Western, 14,4s0; Erie. $500; Lake Shore.
Sl6o; Louisville & Nashville, 1o.250; Missouri
Pacific. 12.020; Northwestern, 6.44o; Northern
Pacific preferred. 1886; Oregon q Transconti-
sental. 23,94o Pacific Mail. 1886; Reading.
H,10o; Richmond 81 West Point. 1865; st.
Paul. q. ls5; Texas Pacific, 4,17o; Union Pacific,
6. $50; Western Union. 10, $50.
The stock market was only moderately active
so-day. and while weak in the forenoon rseov-
sred somewhat later in the day, closing firm.
though 1t fractional losses for the day in most
Of the active list London was buyer at the
,pening and this gave strong tone to the early
trading. first prices being from to per cent.
above Saturdays fnal quotations. The room
was generally in bullish frame Of mind, but
The traders and professionals we're seeking for 3
further reaction, and the unfavorable stsseme..t
Of the Atehison was used against the list In
general and special pressure wss brought against
the Gould stocks, which were found to yield moro
rapidly than the rest OF the list New England
was remarkably strong in the early dealings.
the remainder Of the list. Missousi Pacific
led the decline. and before 1t was
stoppsd had droppsd 80 per cent.
On ion Pacific also became quite weak later, the
stories that the control Of the 500 line had been
bought by Canadian Pacific parties and that the
latter road would demand larger dihefential
IA the transcontinental pool being used against
the stock with some effect A feature OF the
dealings was the demand for Lackawanna In
the loan crowd, ~ high - 1-64 being bid
for the uss Of the stock to-day while the abort
interest in oil the active stocks ID reported very
large, one operator having out 100000 shares.
There is an impression that the market has been
weakeped By parties interested In defeating the
don, and Reading was weak At one time to-day.
though Is was never . leader IN the
decline. Manhattan was next to
Missouri Pacific TO weakness. but New
Euelapd. after IL once was started, showed
marked weakness Toward o'clock the lowest
prices Of the day generally we're reached, and
the shorts then started In to cover, which raj
lied the iist, though little progress was mad
until during the last hour, when the advance
gained force, and most Of the list were brought
up to the neigh borhood Of opening fgurea The
close was quiet but dull Wheeling q Lake
Erie preferred was exceptional this evening.
with . gain Of per cent, but mos t Of the list
are fractioually lower. and Missouri Pacific II
down 2; Manhattan, IA; Oregon Navigation, II,
and Fort Worth & Denver. II.
The railroad bond market was quiet but hrm
70 strong, but the only features Of the dealings
were the Fort Worth q Denver frsts. an1 the
former Infatuated over . comparatively narrow
range. and finally closed sliRhtly lower on sales
of s254. 900. while the latter was strong and
rose II per cent, though il reacted fractionally
NJ the close its sales aggregatinR $3.50 900 out OF
total days business Of 81. 429, 900. Most Of the
list are higher.
Government bonds were dull but firm.
State bonds were dull and steady. Closing