The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-13
CONDITION OF THE MARKETS
Wheat Again Nervous and Unsettled,
with Drop of Three Cents in May.
July, However, Was More Steady and Little
Changed at the ClOse-Corn Fairly Firm
Oats Less Active-PrOyisions Higher.
The Market Dull and Sluggish, with . Tend

The Market Dull and Sluggish, with Tend
ency Toward Lower Prices.
NEW YORK, March 12.-Money on call was
easy at 2i2a3 per cent; the last loan being made
at Pig. closing offered at pig.
Prime mercantile paper, 4l2a6i2 per cent.
Sterling exchange dull but steady at $4.S5A
for sixty-day bills and $4.ssa for demand.
The total sales of stocks to-day were 1923
shares, including the following: Delaware,
Lackawanna d Western, $4,000; Erie, 1900;
Lake Shore 300; Louisville 81 Nashville, 200;
Northwestern, 300; Reading. "a 600; ST. Paul,
27,4O0; Union Pacific, 3,400; Western Union,
1900.
The stock market to-day was dull and stupid
almost throughout, with very little movement in
prices, and after the first hour general sagging
tendency, which had the effect of leaving most
shares tonight slightly lower than last evening.
The copper sensation has ceased to have any eff
feet upon the stock market. and this morning,
notwithstanding that the advices from the other
side in that matter were very favorable. there was
no response to the good news. The covering
OF Shorts" which was so marked feature
yesterday afternoon, was lacking to-day, and, in
the absence of any disposition to buy, there was
nothing to hold quotations outside Of the usual
small demand. and while there was on the other
hand, no inclination to hammer prices, the
market sank into intense dullness. and prices
after the first squirt sagged off slowly and became
stagnant The waiting disposition seems to have
again taken hold of the local operators, and,
after the price OF coal has been settled and the
meetings of the Illinois Central and the ST. Paul
directors are over, and we have heard Of the final
intention of Commissioner Walker, there may be
more decided character to the speculation.
There considerable irregularity to the move
ments within the narrow limits, and while St.
Paul stubbornly held, there was
some weakness in the afternoon in
New England, and during the earlier
hours Lackawanna and Manhattan lost a point.
Pullman also retired per cent. on an insignif-
can't business. Reading, st. Paul and Lacka-
wanna were the only stocks showing any anima-
ton in the regular list but Cotton Oil was again
very active, and, after decrease of 81 per cent,
remained in the neighborhood of its lowest
figure for the remainder Of the day. The move
ments in the others were entirely Insignificant
The opening prices were generally from 1s to 50
per cent. above the final figures of last evening,
and the advantage was further improved in the
early trading by small fractional advances,
which, however, in no case exceeded q per cent.
st. Paul was the only really active stock. though
Reading, Lackawanna and New England
tone disappeared after the first demand was
satisfied, and the list was quickly brought down
TO below the opening figures, after which the
most intense dizziness marked the trading, and
stagnation became the leading characteristic Of
the market. Louisville & Nashville showed some
strength. and New England declined somewhat
In the afternoon, but no other feature was
shown, and the close was dull and steady, gen.
orally at slight fractions under the opening fig
ures. The final changes are irregular, but de-
clines are in majority. though, except in the
case OF Pullman, which lost per cent, the
changes are for fractional amounts only.
Railroad bonds were quiet, and, like the stocks,
were regular. with but slight changes in quota
lions and no marked feature OF any kind. There
was some animation in the Milwaukee, Lake
Shore & Western convertibles and the Louisville,
New Albany Chicago seconds, but while the
total sales reached 81 ,207,0 900 there was spe-
cial activity in either. The advances In the list
include Harlem firsts, 8, to 1884,
Government bonds were dull and steady.
State bonds were entirely neglected. Closing
quotations were: