The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-02
CONDITION OF THE MARKETS
Light Businessin Wheat. with Tendency
in the Direction of Lower Prices.
Corn Quiet and Festureless. Closing at Lower
Figures-Oats Heavy-Provisions Moder-
ately Active but Very Unsettled. .
MONEY, BONDS AND STOCKS.
A Strong and Moderately Active Market
Closing mt Higher Prices.

A strong and Moderately Active Market,
Closing mt Higher Prices.
NEW YORK, May Money on call was
easy, ranging from 2 to per cent, the last loan
being made at q, closing offered at Fl.
Prime mercantile paper. sac per cent.
Foreign exchange was quiet and weak at
g. s6a4s6! for sixty day bills and e. SO 04S8
for demand
The total sales of stocks to-day were 307, LOG
shares. including the following: Canada South
ern, 3, $50; Delaware. Lackawanna 81 Western,
1905; Erie. 1e. 500; Kansas & Texas. LOIS;
Lake Shore. S.s25; Louisville 81 Nashville 49,
Cal; Missouri Pacific, s645; Northwestern, s.
5I3; New jersey Central. 2. 400: Northern Pa
cihe preferred. 1858; New England. q. 900;
Oregon Transcontinental. 10. 407; Pacific Mail,
e,690: Reading. 30, l50; Richmond & West Point.
22960; St Paul. 34.4O5; Texas Pacific. 900;
Onion Pacific, 10 600; Western Union. ll,:S40
The stock market was again strong. though
only moderately active to-day, and notwith-
standing that there was more bear pressure
than usual. almost all the active list scored frac-
tlonal gains for the day. The fact that there
was a holiday in LONDON to-day and no quota
tions from that center was taken advantage OF
by the .bears" aud the traders III bring about
further reaction, but the demand for stocks was
great at the small concession brought about
that the bears ana their allies started in to
cover. which soon brought prices above the level
= Of last evenings figures The news OF tho day
was. II anything. favorable. and the action OF
the Secretary OF the Treasury IN taking all the
bonds offered was of considerable influence later
in the day. supporting the market against the
usual realzations. 7 he Gould stocks, especially
tie lowerpriced ones. were prominent
Tor strength, but some new favorites
came To the front and materially forwarded
the upward tendency of prices. Pacific Mail
was one Of these. and it vas very strong on
rumors of new subsidy from Washington.
New Eueland was again very active, though not
as strong as usual OF late, while Missouri Pacific
and Louisville 81 Nashville were leaders in the
market. especially after the early decline. and
! st. PAIL was unusually strong on favorable adj
wees from the West. Richmond West Point
was heavily traded in, while Reading was COM
paratIvey quiet for that stock, and neither
showed any marked improvement throughout
the day. The opening was weak for the first
: time IN many days, first prices showing declines
of from 10 per cent generally, ana further
2 fractional losses were sustained In the early
trading. though the weakness was Of short dura-
: ton only. while the only decline Of importance
was In Missouri Pacific. which lost Il per cent.
: The recovery followed quickly. and was led by
< Louisville & Nashville and Pacific Mail, the latter
shooting up IL. There was more general
strength toward noon, however, and the eItire
: lisI moved up, but after that time the market
became very quiet. and some reaction was seen,
though the changes were in but few cases more
than Insignificant fractions. There was q fever
ish tone throughout the afternoon. but toward
the end OF the session a firm tone prevailed, and
the market finally closed quiet, but firm. Rener-
ally at fractions better than the opening figures.
The active list is almost invariably higher and
Pacific Mail rose II and 81. Paul ! per cent.
Railroad bonds only moderately active.
the total sales amounting to 81, 374. 900, and
while the list was firm to strong, there was no
special feature beyond the activity and strength
in Fort Worth * Denver irsts. which furnished
ga, 900 to the days total and closed per cent
higher, at So. Atlantic & Pacific incomes were
also active. their sales reaching $4,000 Gal
weston. Harrisburg & San Antonio seconds rose
3. to 101, and Gulf. Colorado e. Santa Fe frsts
2, 10 122
Government bonds were quiet. but firm.
State bonds were dull and steady. Closing