The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-08-09
CONDITION OF THE MARKETS
Affair." Degree Of Activity in the Chicago
Pits, the Tendency Being Downward.
Wheat Opens Quiet and Lower, but Closes
Fairly SIeady-COrn Practically Unchanged
Provisions Active but Weaker.
MONEY, BONDS AND STOCKS.

|
A Weak and Feverish Opening, Followed by
Decided Activity and Strength.
NEW YORK, Aug. 8-Money on call was
sasy at 10ll per cent.
Prime mercantile paper, 4306t per cent.
Sterling exchange was dull but steady and
unchanged.
The total sales of stocks to-day were 237. 418
shares, including the following: Canada South
ern, ALP; Delaware, L~ackawanna g. Western,
e,76o; Erie, lo.s2s; Lake Shore. II. 17s; Michi-
gan Central, 4.01O; Missouri Pacific, 9,40O; North
western. 3,525; New Jersey Central. IL. $40;
Northern Pacific. preferred. 1908; Reading.
"a. 700; Richmond and West Point, 3.lOo; ST.
Paul. II. 1858; ST. Paul & Omaha, 1926; Texas
Pacific. l4,2OO; Union Pacific. l4.945; Western
Union, ls,4S7; Wheeling s. Lake Erie. preferred.
$50.
The stock market to-day was quiet and some
what feverish and weak in the forenoon, but
became active aud decidedly strong later in the
day, when all the early losses were regained,
with fractions 10 addition. The bullish feeling
on the street was uDdiminished this morning, and
liberal buying orders from the other side stimu-
lated the hopeful sentiment The traders and
sold-out bulls" were again working for q re-
action, and the market was hammered during the
greater portion of the day. the result being that
up to II O'Clock the majority of the list was
fractionallyt lower, while the efforts Of the oppo-
sition forces in the market kept the dealings un-
settled and feverish- During the early portion
Of the afternoon, however, there was an influx
OF purchasing orders and the operators
began TO buy. This made an
active and at times buoyant market, and theim-
provemsnt In quotations was checked only with
the close Of business. In the forenoon the Van
derbilt stocks were specially prominent, but be-
came very strong in the face Of the weakness
displayed by the remainder Of the hat, and C.,
c., /. scored 80 extreme gain OF J per cent,
q portion of which. however. was lost later in
the day. The other Vanderbilts were compare
lively quiet. but all display ed q strong front.
In the afternoon the advance was begun by the
Gould stocks, Missouri Pacific being specially
strong. while Western Union led in the trans
actions and advanced sharply. The other
Gould stocks were also all active and
prominent in the advance, and Texas Pa
cifc notably so, the story being that the
Boston pool which has lately been successful In
lifting New England. was bulling the stock.
The erangers were comparatively quiet, pend
Ing the new complications with the State au-
thorities OF Iowa and Nebraska. Among the
specialties Pullman was again remarkable for
the advance made. The opening was acrive and
aboutsteady, though the tone or the dealings
SooR Oocame weak anu OFFICES sDdoeO OH VIII
the coal stocks ia the lead Spells of dullness
marked the trading, and the market became
quite ssverlsn, but the Vanderbilts were excep-
tions to the rule, being decidedly strong, and
before noon c.. c., q q L had gained 3
per cent There was less animation after
IL o'clock for some time, but the
market showed more strength Ia the rest Of
the Iist and everything moved up on increased
business. The advance con linued without in
terruption until the close of business. and Union
Pacific aud Reading became more prominent in
the last hour. ard Jersey Central also developed
great strength, and recovered all OF the early
moraiug loss. The close was active and strong
at about the best prices Of the day. Outside Of
Pullman, which gained IL per cent. all the i'm
portsnt advances were in the Vsnderbilts and
Gould stocks. and c.. C., c. & l. rose II. Mis-
souri, Pacific Is, and Western Union ! per cent,
amounts only.
the total sales OF all issues reaching $1,000, 600;
while a number of issues were prominent in the
trading. Atlantic & Pacific incomes contributed
S403. 600; Texas Pacific frsts S2.0, 900; Texas
Pacific seconds S12S. 600, AMI Erie seconds $751;
600 to the full amount The market did not wait
for the share list. but was strong throughout the
day. and material advances were made in many
of the leading issues traded In. The Atlantic 81
Pacific incomes were the special features, how
ever, and they sold up to 241 and closed at 244
from 224 last evening. a net gain or 2 per cent.
Other important advances comprise ~luterna-
tional seconds. 81, TO 20; Lake shore first cou-
pous, 3. TO l28; Wabash second certificates. 2, 70
So, and Great Western certificates. 2. to Sc.
Government bonds were steady and dull.
State bonds were entirely neglected. Closing
nuofaffopa wara.