The Indianapolis journal., 1889-03-01
CONDITION OF THE MARKETS
Theat Rules Quiet and Dull. Though a
Slight Advance Is Made at the Close.
Corn Quite Active at Higher Prices-Oats
Neglected-0wing to Liberal Receipts Of
Hogs Provisions We're Weak and Lower.
MONEY, STOCKS AND BONDS.

the Market Somewhat Inactive, Though
Most of the List Scored Advances.
NEW YORK, Feb. 2s-Money on call was
easy at 2a3 per cent, the last loan being made
at 2 per cent; closing offered at L.
Prime mercantile paper, 4a6 per cent
Sterling exchange dull but steady at $4-664
COR sixty y-day bills, and $i.sSss for demand
The total sales of stocks to-day were 1s5,5s1
sharcs, including the following: Atchison. 4,211;
Delaware. Laekawanna * Western, $3.50; Lake
shore, 3,225 Missouri Pacific, 5000; Northwest
ern. 6,191; Northern Pacific preferred. 3.675;
Oregon & Transcontinental, 5,400; Reading,
$3.50; Richmond & West Point, 1O,Sl5; St.
Paul, 7.1Oo: Union Pacific, 1920.
Tho stock market, although somewhat less
sctive as measured by the number of shares sold.
was even less so as regards tue general list, for
four stocks contributed over half of the entire
business done. The market, however, was stronger
throughout, and the day closed with almost ev-
erything on the list fractionally higher, while
lew marked advances were scored. Tn ere was
general bullish feeling this morning and the ad-
FeTse reports from the West seemed to have less
Effect than usual OF late, though the improve
nent IN the sentiment had the effect OF restrict
ng the operations on the short side rather
ihan to increase purchases, and ontside of the
few leaders there was a more narrow and re-
stricfed market than has been seen for some time.
The "bears" early made a drive at AtchisOn, and
heavy selling was done for Boston account, while
he short interest in the stock was materially
increased on the way down, although the loss
only point The story of an increase in
the capital stocks was again made to do duty as
a depressing agent, Dut the offerings were easily
absorbed, and the recovery was rapid and COM
plete. The only other marked weak spot was
dropped per cent, but afterward recovered, as
did Atchison. There was increased animation in
New England on the circulation of rumors of
progress IN deal with New Haven, by which
The latter to guarantee a dividend
Boston was a buyer of Union Pacific, and IL
showed considerable strength on the favorable
statement for January, and report that several
of the directors were in favor of a dividend. ST
taul was fairly active, but Its movements were
Insignificant. and the other grangers were unu-
sually dull and uninteresting, were also the
coalers, in which the action OF the sales agents
served TO scare off the 'bears" and so restrict
stimulated by the arrival OF the president of the
company in town. and the meeting OF the di-
rectors, and Oregon Improvement made up
sharply. Chicago Gas was quite weak. and lost
fraction, afver some comparatively wide huctu-
ations.
First prices were steady, and the weakness of
last evening had entirely disappeared, the mar
ket moving up slowly from the irst sales, though
the improving tendency was checked by the
weakness OF AtchisOn and Fort Worth Den
yer certificates, but the downward course of
those stocks was quickly checked, and as they
recovered the general list resumed its upward
march. Progress was very slow, however, and
dullness again became the most prominent feat
ure of the dealings. Union Pacific and Pullman
came TO the front before noon, but after p. NJ,
there was more animation. and Atchison and
Chicago Gas, which had been weak, took the lead,
and the advance became more marked toward
2 O'Clock. The highest prices were generally
reached in the last hours. The market closed
Gull and firm, generally at about the best prices
of the day. The declines established were few in
number and entirely unimportant, while Oregon
Improvement rose, 25s Pullman, per cent,
and others fractional amounts, though Big -Four
fell off l 3.
There was more demand for railroad bonds.
but the offerings kept pace with the purchases,
and the market, while showing greater anima-
ton, was steady for most issues. and final
changes show considerable irregularity. The
sales of all issues reached 81 ,907 900, with no
marked activity in any one issue. The advances
include: Iowa Central firsts, 2l2 to s6la; Louis
vile, New Albany & Chicago cOnsols. 2, to 102;
Fort Wayne seconds, 5. TO 145, and Milwaukee,
Lake Shore & Western incomes, 3, to 103. The
losses of Importance were Jersey Central frsts,
2ie, at 1881, ana Syracuse, Binghamton & New
York frsts, 2, at 135.
Government bonds were dull and steady.
State bonds were dull and featureless. Closing
quotations were: