The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-11
CONDITION OF THE MARKETS
Wheat Opens at Higher Prices, and
Slowly Declines During the Session.
Trading Is Chiefly Local-Provisions Mod
erately Active but Trifie Weak.
MONEY. BONDS AND STOCKS.

A Dull but Firm Market, the Improvement
Being Lost Late An the Day.
& NEW YORK. Feb. l0-Money on call was
easy ~ 2024 per cent, the last loan being made
at "a per cent. closing at 202i per cant.
Prime mercantile paper, 507 per cent
Sterling exchange was dull but firm at 81. "a
for sixty-day bills and "a. $50 for demand.
The total sales of stocks to-day were 129. 534
shares, including the following: Delaware,
Lackawanna 81 Western, $500; Erie. IL. $40;
Lake Shore. 14.210; Louisville s. Nashville,
1000; Northwestern. 6. 900; Reading Is. 440;
Richmond & West Point 9.575; St Paul. %, 245;
Union Pacific, 3, 700; Western Union, $780,
The stock market was dull but again firm to-
day, though most Of the Improvement was lost
before the close. London quotations
higher this morning, and foreigners ere buyers
early in the day, but there was a general at
tempt to cover by the '.bears" &C the opening,
and their buying more than anything else caused
the sharp advance which marked the first trans
Rctions The Chicago shorts asserted that
they had already covered, but their representa-
hives were free borrowers, and the demand for
stocks in the loan crowd gave no indication
The feeling at the opening of business
was generally hopeful, and the earnings now
being reported indicate foundation for the
statements OF rate cutting, the increase show
ing by st. Paul in particular being quite a sur
prise in view Of the daily rumors. Burlington
e. Quincy. however, was an exception, and de-
elined day on the decrease in earnings
ported for the month of December and the
yea.. while Richmond 81 West Point stocks
were exceptionally strong, anu especially Inc
preferred. In the generally active list, Read
Ing. St Paul and Lake Shore were most prom
inent to-day, and all profted, though to frac-
tional amounts only, by early good feeling in
anticipation of favorable action at the trunk
line meeting. which was the CHIEF topic Of con-
versation this morning. The general list. how
ever, was dull and stagnant, usual and
NAMED without feature throughout the day.
The first sales were made at improvements ex-
tending to 1 per cent, and further advances of
from TO per cent. were established in the
early trading. But the market soon settled
down into the usual dulness and stagnancy,
and prices began to yield, the only features of
special note being the drop in Manhat-
tan and the advance In Richmond e.
West Point preferred. The market closed very
dull and about steady. Almost everything is
higher to night, but advances for fractions
only, except Richmond 81 West Point preferred,
which gained II per cent
Railroad bonds were dull; sales, s961 000 The
list was irregular but generally firm. Closing
prices are but fractionally different from last
sales Louisville s. Nashville consols Z.
Chesapeake g. Ohio fours lost 2, at 68, and the
currency 2, at 2i4.
Government bonds were dull and steady.
State bonds were dull and unchanged. Closing
nuOfationa war