The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-05-20
CONDITION OF THE MARKETS
The Wheat Market Quiet and Dull. with
Very Few and Narrow Fluctuations.
Good Business in Corn at Lower Prices
Oats Quiet and LOwer-MOderate Trade
and Dull Feeling in Hog Products.


The Market Active. with the Changers and
Oregon Transcontinental the Features.
NEW YORK. May 1S.-Money on call was
easy, with no loans; closing offered at
2per cent.
Prime mercantile paper, 8 1-2 to 51-2 per
cent.
Sterling exchange was quiet but steady
at S4.s7 for sixty-day bills, and $3.50 for de-
mand.
The total sales of stocks to-day were 1885,
s35 shares, including the following: Atchi-
son, IL, $50; Delaware, Lackawanna Il West
ern, 4, 700; Lake Shore, $500; Louisville q
Nashville, 1910; Northwestern. 5000; North
ern Pacific. preferred. 4,705; Oregon Trans
continental. 1880; Reading, $500; st. Paul,
12,315; Union Pacific, $50.
The stock market was again active this
morning, and strong in all its departments,
although the granger stocks, outside of
Oregon Transcontinental. were the Drin-
cipal feature. The contest in the Trans
continental was not finished with the clos
ing of the books, and the heavy "short"
interest in the stock was still endeavoring
to cover. which was the occasion Of an
other pyrotechnic rise in the price
of the stock, though this time it was
stock traded in the regular way.
The great demand forced it's price up 20
per cent. to 55 in the first hour, but supply
of stock met this improvement, and it re-
acted to 81. This brought in new buyers,
and il again advanced to AZ, where it closed.
There were rumOrs of an adjustment of the
difficulties between the opposing parties in
the company, but they gained little cred
ence, and had no appreciable effect upon
the course of the stock to-day.
Unlike the previous few days,
the excitement in Transcortinental
did not have the effect of restricting the
trading in the general list. and Transcon-
tinental to-day went back to third place in
point of activity. The buying of the
grangers was specially good, and there
seems to be large short" interest in all
of Them, which is now getting frightened.
and the result was q marked advance IN all
those stocks. with larger dealings than
usual of late.
Burlington was the leader from the OPEN
ing, and with but light interruption it stead
lily rose over 2 per cent. st. Paul preferred
was also sharply advanced, selling
up to lis, from ITO "a, its last sale, but re-
acted to 112. AtchisOn, Union Pacific and
st. Paul were also prominent, but the move
ments in those stocks, like the remainder
of the list, were confined to small fracti ons,
and the transactions developed no feature
of special interest. The total days bust
ness reached 15S,SS5 shares, of which
Burlington contributed 5000, Atch-
ison, 1880; Oregon TranscOntinent-
al 1886; Union Pacific, 1850.
and St. Paul 1885. Almost everything
traded in to-day is higher tonight, and
Oregon Transcontinental rose7 per cent, St.
Paul preferr d, 2 1-2; Burlington 81 Quincy.
is; Union Pacific and Rock Island, each
IA; Atchison per cent, and others frac-
tiOnal amounts.
Railroad bonds were rather dull again,
but the tone of the market was firm. and
most of the issues traded in are higher.
The sales reached the sum Of
S696.OO0, of which the Duluth, South
Shore & Atlantic tives contributed
S163,O0 although it failed to advance more
than Ia per cent Among the important
gains were Burlington, Cedar Rapids g.
Northern firsts, 2, to 102: Denver d South
Park firsts, 1-2. to 90 1-2; Chattanooga
tirsts, /, to 135. and Rochester and Pitts
burg firsts, 4, to 120. There were no losses
of any Importance. The sales of bonds for
the week were S7,654OOO. against $9.75S.OO
for last week.
Government bonds were dull and steady.
State bonds were neglected. Closing quo