The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-08-07
CONDITION OF THE MARKETS
Outside Traders Not Much Inclined to
Speculate on the Chicago Board.
Trading in Grain and Provisions Yesterday
Was Light, But Prices Were Kept
Steady by the Cash Demand.
MONEY STOCKS AND BONDS.

A Material Advance Scored All Over the
List, on Less Active Market.
NEW YORK, Aug. 6.-Money on call was
easy at 2i2G4 per cent, the last loan being
made at 3. closing offered at &c.
Prime mercantile paper, 4sid6l2 per cent.
Sterling exchange dull but steady at s4.s5
for sixty day bills, and S4.S7 for demand.
The total sales of stocks to-day were
e05. 73S shares, including the following:
Atchison. 1855; Delaware. Lackawanna IL
Western, $500; Erie 800; Lake Shore, $500;
Missouri Pacific. IA, 702 Northwestern. 5,6S5;
Northern Pacific, 3.57S; Northern Pacific
preferred 1880; Re aiding. ., go; Richmond
81 West Point, 1914; st. Paul. Is, ITO; Union
Pacific, COL.
The stock market was not so active to-
day as yesterday, but there was a cOntinu-
ance of the movement for higher prices,
and while some of the late factors in the
rise were absent, n material advance was
scored all over the list. London
figures came lower this morning
and although there conl1 be no reason as
signed for il, that center was seller in
this market to-day. There was powerful
influence at work for the advance OF quota
tons, and the Chicago party was especial
"
Jones himself directed the "bulP manipu-
lation from the floor The short interest
gave evidence of practical elimination. and
the demand for stocks in the loan crowd
was smaller than for long time.
Fhe shorts" however, were factor In
the early rise to-day, and hen they ceased
the market became quiet and prices dragged.
There were some remarkable gains In the
earnings reported for the fourth week in
July, and the news OF the
nature. The advances, as rule, were most
marked In the CHANGERS and SOuthwesterns.
and IN those shares there was more busl-
ness than in the other portions of the list.
the business done being not nearly SO well
distributed as during the past two or three
days. A drive was made at Reading, but
the result, in the condition of public Opin-
ion. was small and unimpOrtant. First
prices were generally slightly higher than
last evenings figures. but the strength of
the market was Immediately made appar-
ent and general upward movement be-
gan, though Missouri Pacific became the
leader, and it was believed in some quar-
tiers that Mr. Gould was again interested in
the market on the long side. The stock
moved up 15s per cent, and other
marked advances were made In Lake
Erie IL Western preferred, San Francisco
preferred and Jersey Central, and later in
the Chesapeake * Ohio and Southern Pa
cific. The greater portion of the improve
ment was made in the final hour, however.
After the demand from the shorts ceased
the market settled down to dizziness
and in many cases stagnation. Consider
able pressure to sell was shown even at
times during the afternoon, but little i'm
preston was made upon prices, and the
strength in several specialties toward the
close gave firm to strong tone to the en-
tire market. The close was dull and firm
at near the best prices of the day. The
trusts were never prominent, though there
was considerable business done in Lead and
Sugar. and the latter. after a drop of over
per cent, rose TO 116
Railroad bonds were again quiet and firm,
though the dealings, as usual of late. pre-
sented little or no feature of special inter
est. The sales of all issues aggregated ST.
1l7,O0O. of which the Chesapeake & Ohio
tives contributed $4,000 and Richmond IL
Allegheny S11S.GOO. The important changes
are very few, but are generally in the di-
rection of higher prices. Long Island frsts
rose 2l2, to 12s, and South Carolina incomes
23s.
Government bonds were dull and steady.
State bonds were dull and steady. Clos
ing quotations were: