The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-18
CONDITION OF THE MARKETS
Exciting Times in the Wheat Pit. Fluct-
nations Being Frequent and Wide.
Corn Exhibits Similar Features on q Some
what Modified Scale-0ats Higher-Pro-
visions a TriHe Weak and Unsettled.
nroNEY. BONDS AND sToCKs.

New York Shows Increased Strength and
Activity, with Higher Prices.
NEW YORK, April 17.-Money on call was
easy at 2028 per cent, closing offered At q
Prime mercantile paper. SAT per cent
Sterling exchange was fairly active and firm
at s4s5s for sixty day bills and 81 s73 for de-
mand.
The total sales Of stocks to-day were 294, 422
shares, including the following: Delaware,
LackawannA g Western. So, 1885, Erie, $3.50;
Lake Shore. 10000; Louisville & Nashville,
1850; Missouri Pacific, $500; Northwestern,
IA, 322; New Jersey Central, 9.24O; Northern Pa
cihc preferred, $3.50; Oregon g Transconti-
mental, 3.710; Reading. 49. l40; Richmond &
West Point, 29515; St Paul, $1,000; Union
Pacific. $3.50; Western Union. $780,
The stock market was more active and
stronger to-day, and everything on the list is
higher this evening, with the exception OF the
Richmond & West Point stocks which suffered
o reaction of moderate proportions. In conse-
qusnes Of the unfavorable report in regard to
the German Emperor's health, the disturbances
ON the European bourses was reflected in this
market by London selling this morning, but the
increased demand for domestic account neutral
ICED the effect of the foreign operations, and
immediate Improvement in prices took place.
In the early dealings there were heavy coverings
Of shorts and more confident buying for the
.1ong" account, q great deal Of which cred
tied to the Standard Oil interest The coal
stocks early became the features of the
markss, Jersey Central taking the lead
at frat. The extension of time for the
completion of the Arthur Kill bridge was sup
posed to have had some influence on the stock,
rs il is expected to be of benefit TO that road;
but later in the day the lead was transferred to
Lackawanna, the pool-buying being very
marked. The grangers were more prominent
for strength than usual Of late, but the Rich
mond 81 West Point stocks were exceptionally
weak, though they still retained leading po-
sition in the market. The passage OF the bond
resolution had marked influence late IN the
day, wien the upward movement became more
general, and on q report that the Secretary in
tended buying 800. 000. 900 without further
authority from Congress. government securities
advanced sharply. with q marked increase IN
the amount of business DONE The market was
rather heavy at the opening, but immediately
gave evidence of strength, and under the lead
of Jersey Central and Union Pacific material
gains were made In the first hour. The
time, and prices had sagging tendency until
afternoon, when LackawannR became the lead
er, and toward the last hour the upward move
ment assumed larger proportions and the best
prices of the day were reached by the beginning
OF the last half hour. There was q slight set
back, but the close was active and firm though
Rt something off from the highest figures. The
active list is generally fractonally higher this
evening, while Lackawanna 10 mp II; Jersey
Central, Ia; Tennessee Coal, Ii; Burlington 81
Quincy and Omaha l per cent. each; bat Rich
nnond 81 West Point is off and the preferred 1.
Railroad bonds were active; sales, $780,
900, but the market was strong There was no
special feature of interest in the dealings.
Government bonds were active and strong.
State bonds were entirely neglected. Closing
quotations were: