The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-12-18
CONDITION OF THE MARKETS
Values ia Speculative Wheat Again Re-
cede to a Somewhat Lower Level.
Corn Rules Heavy on Moderate Business-0ats
Slow but Steady-Hog Products Quiet
and Easier in Price.
MONEY, STOCKS AND BONDS.

sharp Advance I'm . Few Specialties, with
the General List stn Dull.
NEW YORK, Dec. 17.-Money on call was
easy. ranging from 5 to z per cent, the last
loan being made at sig. closing offered at
5l2 per cent.
Prime mercantile paper, 6G7la per cent.
Sterling exchange quiet and steady
at s4.s0l2 for sixty-day bills and S4.S4i2 for
demand.
The total sales of stocks to-day were 1872
057 shares. including the following: Della
ware. Lackawanna & Western. 1880; Dem
yer. Texas & Fort Worth, 3,39e; Louisville
& Nashville. 1891; Missouri Pacific, $50;
Reading, 15.4OO: st. Paul. 14.4SO; Union
Pacific, 14.4S5; Western Union, BITS.
The stock market to-day was dull and
~stagnant. as usual, for the general list, and
the only features were supplied by a few
stocks which were subject to special in
tiuences. The early portion of the day was
dull and lifeless. but later there was some
animation with a decided upward tendency
in prices. and the list left OF in many cases
materially higher than last even
ing's figures. The sensation of the
Retineries, In which there was supposed to
De a squeeze of the 'shorts" going on. The
price of the stock. however. while II opened
mp at 63, was soon sold down To 81, and
while the borrowing demand was brisk and
a premium of a pei cent. was exacted for
use of the stock at one time. aud cash sales
brought n premium of q fraction over those
sold the regular way, there was heavy sell
Ing of the stock in the early trading at
sellers options of three days at as much
difference as l per cent. from the regular
sales. There are some people who believe
that the apparent special interest is real:
- - 49, IL --. ILL
their stock and are borrowing for delivery
until after the closing of the books to-
morrow. Sales at sellers options and
also those for cash ceased soon
after noon. and the stock became
comparatively quiet. moving with the rest
of the market. After Sugar settled down
there was the usual drive at the coal
stocks, though Lackawanna was the only
sufferer, and that only to the extent of a
fraction. The shorts began covering
freely toward 1 P. NJ. and the grangers
came again to the front. all making
marked Improvement under the lead of
Burlin gton. which spurted up lis per cent.
Among the sp~ecialties there were several
sharp advances. Oregon Short-line and Con-
solidated Gas taking the lead, followed by
Chicago Gas and Denver. Texas & Fort
Worth and Tennessee Coal. There was a
large order executed in Consolidated Gas
and the traders bought on the theory that
the embarrassment of the electric-light
companies by the cutting of their wires by
the city authorities must rebound to the
advantage OF gas. The opening was steady.
and prices remained so until the afternoon,
when everything followed the grangers up.
and the market finally closed dull but
strong at about the best figures. Short
line is up 37s; Gas. pa; Denver. Texas d.
Fort Worth and Tennessee Coal, III, and
Burlington and Chicago Gas, 1ls each.
Railroad bonds were more active, sales
reaching $780, COO. and the final changes
are confined generally to insignificant
fractions.
Government bonds were dull but firm.
State bonds were entirely neglected. Clos
ing ouotatiOus were.