The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-04-09
CONDITION OF THE z K
Wholesalers Too Numerous, Causing
Prices to Take q Turn DOwnwards.
MAY and June Both Lose About Five Cents
Corn Easier and Lower-Gats Active and
Irregular-HOg Products Unsettled.
The Market Active, but Very Weak an
Lower for Nearly Everything.

The Market Active, but Very Weak and
Lower for Nearly Everything.
NEW YORK, April s.-Money on call was
easy at 374 per cent, the last loan being made
at 3, closing offered at 3.
Prime mercantile paper 4ie per cent.
Sterling exchange dull, but firm at S4.s6@ for
sixty-day bills and $4.ssa for demand.
The total sales of stocks to-day were 296,370
shares, including the following: Atchison, 54,-
40; Delaware, Lackawana q Western, 1920;
Lake shore, 1885; Louisville & Nashville,
1870; Missouri Pacific, 1920; Northwestern.
3O,7O0; Reading. $500; Richmond d West
Point. 7,40O; st. Paul, 1921; Union Pacific,
1871; Western Union, 1892.
There~was another marked and sudden change
in the temper Of the stock market to-day. and it
was active and decidedly weak throughout,
there be ing only one strong spot in the list, and
everything tonight is materially lower than at
the close on Saturday. The influence Of the
bank statement was felt i'm full this morning,
for the low state of the resources Of the banks
not only called a halt in the foreign buying
which was becoming somewhat Of a factor last
week, but il encouraged further attacks by the
bearish element and induced realizing by the
'Sulls' upon the rise of last week.
There was a notable absence of support, es-
pecially IN the stocks which so lately have been
the leaders of the upward Atchison
was again the great feature of the day, and while
commanding a premium for use which reached
Ia per cent. per diem. was sold recklessly by
the ''beaTs." but the general belief Is that after
Tuesday there will be heavy sales OF stock
bought for purposes of control. The report OF
the earnings for February also went some way
inenc0uraging the pressure, as there was a
deficiency in meeting fixed charges. Similar
reports about Missouri Pacific were circulated,
and that stock was a good second, with New
ENGLAND and N~0rfnWQstpFn following. The Other
gramgers were not forgotten, and only st. Paul
out of the entire list showed any support what
ever, and it is exceptional In showing q small
advance at the close this evening.
The opening figures were a great disappoint-
ment TO those who had regarded the furry at the
close on Saturday as a temporary setback, as
first prices were from ls0at per cent. lower than
the final figures Of Saturday. Missouri Pacific
took the lead in the early decline, while the
and although there was some recovery toward
IL O'clock Ii was entirely insignificant, as were
all tie rest of the rallies during the day. Atchi-
son then became the leader, and was joined by
New England, and before noon the movement
had become very marked; Cotton Oh became
steadily maintained throughout, though the
strength in St Paul became very noticeable at
was removed, and the market subsidized into
dullness,. but there was another attack
upon upon ths grsafor IN nor,;o the Of Last it, hG I"ss
for the day was sustained. The market closed
fairly active and weak, although a slight rally
OcCtfrtu. MOSt vi TIC lcl, uONtNcI, WtIc az L
near the lowest figures for the day. Atchison Is
down 5 per cent, New England, 17s; Missouri
Pacific and Colorado Coal, 135; Rock Island, Jer-
sey Central, Big Four and Union Pacific, Ia
each, and Burlington, lie.
Railroad bonds were quiet, although the deal
ings extended to ian unusually large number OF is
sues. and the sales of all issues aggregated ST.
164, 600, out OF which Short-line skies furnished
$4,000 and chesapeake * Ohio $1O4, 600.
The list did not sympathiZe with the decline in
shares, but remained firm without special
feature. San Francisco Glass Al rose 2, to 12O.
Government bonds were dull and heavy.
State bonds were duh and featureless. Closing
quotations were: