The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-29
CONDITION OF THE MARKETS
IA Weak Opening at Chicago, Very Quick
ly Followed by Slight Reaction,
Prices of Wheat Letting Down Trifle just
! Before the ClOse-0ats Dull and Uninter-
esting-Light Business in Provisions.
MONEY, BONDS AND STOCKS.

n DulI Day in New York, with a Firm to
Strong Tone Throughout the Session.
NEWYORK, Feb. % Mooney on call was easy
at 202f per cent, the last loan being made at
81, closing at 2124.
Prime mercantile paper, 4a05A per cent
Sterling exchange was duh bub firm at 4.s52
FOR sixty-da> bills and s4s7A for demand
The total sales OF stocks to-day were 100, 160
shares, including the following: Delaware, Lack.
awanna & Western, GOO; Erie. 1900; Lake
Shore. $500 Louisville & Nashville. 5000; New
Jersey Central 1000 Reading, 1890; Rich
xnond e. West Point, 10. 600; St Paul, III, 700;
Union Pacific, $500; Western Union, $500
The stock market was again very dull to-day,
but the tone Of the dealings was in marked con-
trast 20 that of yesterday, being firm to strong
for most of the day, and the buying was of
much better character throughout. The strike
on the Burlington, aud the other railroad
impetus TO the movement to take the question
of rates out Of the hands of the railroad man
ayers and place it under the control OF State
commissioners. Notwithstanding the strike
however, aud the unsettled condition of the
railroad business in the West, operators were
disposed to await further Developments before
selling, and the announcement that Congress-
will probably. in q short time. take some action
ON the financial situation. created q better feel
ing In stock cir les, and the market showed
marked strength in some directions. The apparent
selling by London yesterday, in the light of to-
days Developments, seems to have been at
s&Ampt by the "bearS" to break the market.
There were very few selling orders In the mar
kst this morning, aud these were quickly ex-
hausted, though they had no temporary effect
upon prices. except in the case OF Manhattan,
which was broken over point. This was the
only special feature to the trading until toward
the close, when the buying Of Richmond g. West
Point stocks began again, and they advanced
rapidly. Jersey Central St Paul and
Louisville g. Nashville also became prominent
a. the time, though the movements in the other
stocks were for small fractions only. The OPEN
ing was In marked contrast with that OF yester-
day, being extremely dull but firm. and though
the Improvement was not maintained the heavi-
ness was of short duration, and the upward
movement began again. The market however,
quickly settled down TO utter stagnation. and
while retaining its firm tone, made progress
IN any direction until the last hour, when the
vance The close was 1ll but firm to strong at
the best prices reached Almost everything 10
higher tonight, though advances are for frac-
t-tious only, except for Richmond q West Point,
which rose II, ard the preferred Ii, while Man
haitian is 1a lower.
The railroad bond market was quiet to-kay,
che sales aRgregating 1914, 600, and the interest
conferred In Rock Island hves, which furnished
1921 900, and Erie secoSds, Sl07, 600. There
were no decided movements in the list, how
ever, and prices were heavy in the forenoon.
but recovered toward the close, leaving the list
irregu.ary changed from last previous sales.
Among the advances. Ohio Southern frsts rose
i24, to 1914, and Milwaukee. Lake Shore & West
Tern incomes 2, to 102. Denver % South Park
hrsts lost 81, at TIA.
( Government bonds were duh but steady.
State bonds were entirely neglected. Closing
INDICATIONS were: