The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-07-18
MONEY, STOCKS AND BONDS.

1O~
A Dull Market, with Little General Trading
and Further Declines I'm Trusts.
NEW YORK. July 17.-Money was easy at
2l2G3 per cent. the last loan being made
at 212, closing offered at 2.
Prime mercantile paper 4129612 per cent.
Sterling exchange quiet and steady at
s4S6 for sixty-day bills, and S4.S7s4 for de-
mand.
The total sales of stocks to-day were no.
305 shares, including the following: Atchi-
ison, 1000; Delaware, Lackawanna d
Western, $3.50; Missouri Pacific, $3.50;
Northern Pacific preferred, 800: New Eng
land. 1910; Reading, 1900; Richmond x
West Point. 5,265; ST. Paul, 1850; Western
Union, 1920.
The stock market was a little more act
i've to-day, but there was no more interest
In the trading, and as a rule the results
were equally Insignificant as those of yes
terday, though the heavy to weak tone
which prevailed throughout the day left
almost everything traded in fractiOnally
lower than last evening. There was no
life in the market at any time, and
the indispoSition to trade left the
market in the hands of the
local traders, as none of the outside centers
were doing anything. except Chicago,
which confined its operations almost ex-
clusively to the selling of the trusts. Among
the railroad shares, the Gould stocks were
more prominent than for a long time back,
but their activity was at the expense OF
values, and Manhattan was sold dow
about 6 per cent. on the stories that the
company would abandon all its plans for
the extension of the suburban system, and
that no defense would be made in the suits
against the company. Missouri Pacific and
Western Union were both active and led
the decline in the general list. The grang-
ers, as usual, are the leading group of stocks
in point of activity, but there was little of
a positive nature IN the news from the
West. and those stocks only reflected the
general disposition to close mp accounts.
Union Pacific, Notwithstanding the favora-
bic nature of its May statement, was dull
and steady. The renewed selling of the
trusts again made those shares the leading
features of the market, and heavy selling
of Lead for Chicago account broke its price
2l2 per cent. while Sugar reached it's lowest
for a week past, w a loss of nearly 4
per cent. at its lowest figure. Cotton Oil
was comparatively we'll supported, but
Chicago Gas dropped with the others.
The market at the opening was somewhat
more active than yesterday, and responded
to the lower figures in London with an IL
regular opening, and the drift of
~ was Gel ~ 10
downward, with Lead and Missouri
Pacific in the lead. The weakness
in the trusts continued to be the only feat
ure during the forenoon, and the regular
list sympathized to a limited extent in the
decline. There was a sharp rally in the
trusts toward delivery hour, and Man.
haitian then made It's drop. The entire
market, however, showed an improved
tone in the last hour, and the close was dull
but firm at something better than the low
est prices. There are a few advances to-
night, but they are for Insignificant frac-
tions only, while Manhattan is down 4os;
Sugar, pa; Lead, lis, and Chicago Gas and
Oregon TranscOntinental. l per cent. each.
The railroad bond market reflected the
same conditions which prevailed in the
share list, and was dull and heavy to weak
throughout the day. Fort Worth & Den
Yer firsts were the only feature, and scored
9 material decline on sales of
aggregated S920.O0O. The finale changes
are quite irregular. but declines are the
more numerous and of those which are
lower, Burlington consols lost 112 at 1921;
Chicago and Northwestern fives 27s, at 102;
Denver and Rio Grande Western, assented,
], at 50, and the certificates, Ia. at S9l2; TT.
Worth d Denver tirsts 24, at 931; Louis
vile. New Albany 81 Chicago firsts /, at
117l2; Union Pacific skies, Of 1896, 2, at ISL;
the skies of 1895. 1 at 119, and Western.
New York 81 Pennsylvania seconds. 2 at
So.
Government bonds were dull and steady.
State bonds were entirely neglected.