The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-05-09
CONDITION OF THE MARKETS
A Very Dull Opening at Lower Prices,
Followed by a Temporary Advance.
Wheat Fluctuates Frequently, but the Ten
dency Ii Toward Higher Figures-Corn
LoWer-Proyison Active and Steady.
MONEY, BONDS AND STOCKS.

n Moderate Degree OF Activity at New York,
with a Generally Weak Feeling
NEW YORK, May .8.-Monsy on call was
easy at II az per cent, the last loan being made
at 2, closing at 3a2-
Prime mercantile paper. 506 per cent.
Sterling exchange was active and strong at
a. s64 for sixty day bills and g. 49, for demand.
The total sales Of stocks to-day were
%, 667 shares. including the following: Canada
Southern, $40; Delaware. Lackawanna d
Western, 1900; Erie. 3,724; Lake Shore,
1854; Louisville & Nashville, $685. Missouri
Pacific. Il. go; Northwestern. 4746; New Jer-
ssy Central, 3. 100: Northern Pacific preferred.
1900; Oregon & Transcontinentai, 24,075;
Reading. 74,o2o; Richmond & West Point
1875; St Paul. % OIL; Union Pacific, 20, lbs;
Western Union. III, 439.
The stock market was again only moderately
active and generally weak. though there were
epurts of animation during the day and we'll
marked recoveries at times. The influences at
work upon the list were mostly IN favor OF
better range Of values, the principal one being
the selling Of stocks in this market BY the for
eigners. induced by the higher rates for money
IA London, with the expectations or an increase
In the discount rate Of the Bank Of England
next Thursday. The local bears hammered
She list, especially in the forenoon. and much
was made Of the engagement OF 500. 600 gold Tor
export. though the rates for exchange as pres.
snt do not warrant such shipment, and IL ID well
understood 70 be special lot Other infiu-
sncss, such as the illness OF the Emperor,
the recent Coleman failure and the
small acceptances OF bonds by the Treas
ury to-day, bad some effect In producing
. general bearish feeling. Some stocks how
ever, we're affected by special causes. among
which may be mentioned Manhattan, which
was sold down on the story of an issue of bonds
20 settle the damage suits by property -oWnerss
and Chicago. Burlington q Quincy, which was
affected By story from Chicago that there was
. probability of the passage OF the next divi-
dsnd, owing to the losses incurred during the
continuancs OF the strike. Richmond 81 West
Point was also specially weak for no apparent
cause. The opening was decidedly weak at de-
clinss from last evenings figures ranging up TO
per cent, and further losses were sustained IN
the first few minutes, while Missouri Pacific,
Manhattan and Richmond & West Point were
specially weak. losing over point each. New
buying was brought in at low figures however,
and prices wore soon started on the up track, but
this demand was soon satisfied Another decline
ssns prices to the lowest of the day before
noon. All animation disappeared from the
list after that time, but general
Improvement followed on the removal OF the
''bssr' pressure and prices were once more
brought up to the neighborhood Of opening fg-
ures. There was more activity In the last hour,
however, and the market again yielded, finally
closing heavy. The active list is invariably
lower, and Burlington & Quincy lost 81. Rich
mond & West Point, q; Manhattan, 4; Reading
and Oregon Trsnseontinental, II each; Lake
Shore and Missouri Pacific, Ii each, and Canada
Southern per cent.
Railroad bonds were quiet and prices were ir-
regularly changed, the tone being steady almost
throuRhout the entire day. Burlington 81
Quincy. Nebraska fours. were active, and fur
uishsd $780, 900 out of total days business Of
81, 275. 900. Illinois Central fours lost 8, at 104
Government bonds were quiet but steady to
drn.
State bonds were dull and steady. Closing
quotations we're: