The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-01-09
CONDITION OF THE MARKETS
Wheat Unsettled, Though Prices Ruled
Higher on a Fair Days Business.
Corn Steady with Liberal Ofierings-Limited
Transactions in 0ats-Pork and Lard
and Ribs Active but Unsettled.
MONEY, BONDS AND STOCKS.

The Market Extremely Dull, with Almost
the Whole List Down I'm Price.
NEW YORK, Jan s.-Money on call was easy
ut 3a4 per cent, the last loan being made at
3, closing at 394 per cent.
Prime mercantile paper, 5la97 per cent.
Sterling exchange dull, but firm at $464le for
sixty-day bills, and $4ss14 for demand
The total sales of stocks to-day were 141,5
shares. including the following: Delaware, Lack
awanna & Western. 1925; Erie, 5000; North
western, $3.50; Reading, 4s,510; St Paul, 16,-
010; Union Pacific, 15,435.
The stock market to-day was extremely dull,
narrow and uninteresting, with . general down
ward tendency of prices, and the result Of the
days trading is to leave it in almost everything
fractionaIly lower than last evening. Themarket
hung up on the action of the meeting between
the railroad presidents and bankers, and while it
was expected that some plan would be
perfected whereby more revenue would be
assured to the roads, there was marked
indisposition to enter into new ventures pending
the final settlement of the question. Nothing
definite was accomplished, however. and affairs
remain in the same undecided condition; The
DEALING, as a consequence, were even lore OF
professional character than for the past few
days, and such interest as was infused into the
market from the operations OF the trading ele-
ment was confined almost entirely TO the coal
stocks. Union Pacific and New England. Bear
non-psyment of the full interest upon the third
preference incomes, but the stock, while active
displayed, il anything, more strength than any
OF the usual active stocks, ascOnservatiye people
were inclined to look at the action as favorable
ia the stock. More success was met with In
Lackawanna, and that stock upon a very moder-
ate trading, yielded nearly point Union Pa
cific was quite strong in the early morning upon
purchases by the foreign element, but toward
the close the stock developed marked weakness
upon the unfavorable advices from Washington.
~<~I< t.uN fAn,& Dnotx al ~
New England, had been advised by his physicians
to give up the cares of Office and business, and
that stock yielded materially Throughout the
day and closed point lower Omaha preferred
suddenly 'slumped" off toward the end OF the
session, and it shows the largest decline for the
day. The rest OF the list, were utterly stagnant
all the way out, and called for no comment
First prices were generally from le to 50 per
cent. below last nights figures, and while New
early trading, the rest of the list remained stag
nant, and only Reading showed any animation
tional decline. but until well into tho afternoon
the market was devoid of feature, when Chesa-
peake q Ohio common stock rose point on
small transactions. Union Pacific later became
weak, and the general list then sympathized by
bringing prices in most stocks down to the low
est prices in the last hour, although except for
few. they were but slightly changed from the
opening figures The close was dull and fairly
steady. Almost the entire list is lower and
Omaha preferred lost u, New England, Union
Pacific and Omaha common, per cent. each,
and the others fractional amounts.
The dealings in railroad bonds were in marked
contrast TO those in shares, to-day, the market
being both active and strong throughout, and
while the final advances are not marked, they
general and uniform. The effect of the jan
nary disbursements Ia only just beginning to be
felt and brokers report q large inquiry for bonds
of the investment kind and this is reflected, also,
In the prices OF the speculative variety for the
time being. The only weak spot in the list was
the Gulf, Colorado & Santa Fe skies, because Of
the uneasiness among holders, as the bonds,
while a valid obligation of the Atchison, are not
guaranteed and are a lien only upon that part of
the road which has not earned the dividend upon
the Atchison stock given in exchange The sales
reached 81 ,S16, 900, and the only active feature
was the Richmond & Allegheny firsts, 1852, 900
of which changed hands. The important gains
comprise Morris & Essex frsts, q to lac. The
few declines include Gulf, Colorado 81 Santa
Fe skies, 2l2 at 7Slp.
Government bonds and State bonds were dull
steady. Closing quotations were: