The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-01-28
CONDITION OF THE MARKETS
A Dull and FeatureIess Opening, Fol-
lowed b. a Fair Degree of Activity.
Very Heavy Buying Late in the Day Causes
an Advance in Prices-Proyisions Open
Firm, but Slightly Lower Figures Rule.
MONEY. BONDS AND STOCKS.

The Coal Stocks Receive Most Attention. but
Nearly Everything Is Higher.
NEW YORK, Jan. 2Z-Money on call was
Easy at p 73 per cent
Prime mercantile paper, 507 per cent.
Sterling exchange was dull but steady, with
actual business at s4.s4t for sixty day bills and
1856 for demand.
The total sales of stocks to-day were 196,-
e64 shares. including the following: Delaware,
Laekawanna & Western. 15,016; Delaware &
Hudson. $500; Erie, 1885, Lake Shore, 1850;
louisville g. Nashville, 6.310; Missouri Pacific,
D.625; Northwestern, 5.119; New Jersey Gem
trial. 9, $50; Reading %. 400; Richmond s. West
Point; 1906; st. Paul. 30, $50; Texas Pacific A.
i60; Union Pacific, {. 500; Western Union, 1920.
The late reports of the dividend paying roads,
(which show net earnings largely in exess of the
dividends paid and large cash SURPRISES accu-
smulating told OF the prices of stocks to-day,
tand the market advanced easily on light pur-
schases, notwithstanding the fact that the
fcliques were moderate sellers throughout the
sday. The coal stocks received most attention,
sand late In the day Jersey Central became the
special feature, making the heaviest advance
for the day Missouri Pacific was largely bought
by insiders and Fort Worth e. Denver
strong on the same kind of buying. There was
more foreign buying than has been noticed of
! late, and the Germans were purchasers of Texas
Pacific, while London took Union Pacific and
Reading Inc covering of shorts" was factor
IN the improvement made brokers 1dentl-
fed with prominent "bear' houses being
conspicuous buyers in every crowd. The
market broadened perceptibly, though the prin-
cipal element is still the professional trader.
The opening was quite dull and generally steady
this morning. aud there marked feature
IN the list until after the first hour though the
tendency toward better figures Toward
noon some animation infused in the deal
Eings and more rapid progress made in the
upper direction. After that time however, the
list sagged off slowly and became extremely
dull, but in the last hour Jersey Central came
TO the front and moved up rapidly largely
Increased business; the general list felt the
stimulus toward the end of the session, and the
market finally closed quiet to dull but firm at
small fractions better than first
prices. Almost everything is higher
Tonight the few declines being
for INSIGNIFICANT fractions only, while Jersey
Central rose Il: Manhattan, 1:sDelaware 81 Hud-
son, TT. Worth e. Denver, Norfolk 81 Western
preferred and Texas Pacific, per cent. each
The demand for investment bonds still contin-
pes, and the sales at the board to-day exceeded
those Of any day during the present movement
counting to 81, 500. 600, and the only prominent
ny, Nebraska tours, which contributed 1899 000
i@l4S, 900 to the days total. The market gained
strength continually, and almost everything
traded in shows a material advance this evening.
Lackawanna sevens of 1907 81, to 1873;
Rensselaer, e. Saratoga frsts, 3, to 144; Harlem
lSeveus registered, 81, to 1873; Norfolk e. West
ern general skies, 2, to 1854; South Pacific OF
New Mexico firstss 2, to 1914; Wabash. Detroit
Bixes, 4, to log.
Government bonds were dull but firm.
State bonds were dull and steady. Closing
SnuOtatiOua were.