The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-12
CONDITION OF THE MARKETS
large Transactions in Wheat, with an
Unsettled Feeling and Lower Prices.
Elight Decline Established i'm CorR-0ats Act
i've, but Weak and LOwer|rovisions On
on Large Receipts of Hogs.
MONEY, STOCKS AND BONDS.

An Extremely Active Market, with Higher
Prices at the Close for all Shares.
NEW YORK, March 11-Money On call was
easy at 2A2a3 per cent; the last loan being made
at pig, closing offered at 3.
Prime mercantile paper, 41e06lo per cent.
Sterling exchange duh but steady at S4-s5%
for sixty-day bills and S4.ssa4 for demand.
The total sales of stocks to-day we're 3ls, 1858
shares, including the following: Atchison. IA
$780, Canada Southern. z $40; Delaware, Lacka-
wanna & Western, 5,4o0; Erie, $50; Lake
Shore, 9,267; Louisville & Nashville, 2,46o;
Missouri Pacific, $3.50; Northwestern, 1850;
Norfolk & Western preferred. 4.40O; Northern
Pacific preferred. 1851; Oregon Transc0nti-
mental, 7.400; Reading. 1920; Richmond d
West Point. $500; 81. Paul, 32s375; Union Pa
citc, 1870: Western Union, $685..
This was the most active day of the year in
the stock market. After the first break the mar
ket continued strong until the clese. ana the
riably higher. The advices from the other side
were not reassur1ng, and the ''bears," with the
aid OF London, Chicago, Boston and Philadel-
pbia. were enabled TO drive prices down in the
early dealings, but the cables soon brought bet
ter news from Europe, and the scare was re
ported to be over there. both in Paris and Lon
don, with much calmer feeling. The buying
for the 'long" account then began, and the
sellers OF the early hour turned buyers. which
soon induced free covering of shorts" and
the upward movement which was fnaugurated
lasted until the final close of business Boston,
Philadelphia. Chicago and London were large
purchasers, and all the prominent stocks felt the
stimulus, rising over point from the lowest
figures before noon- Reading and ST.
Paul were conspicuous for the pressure
brought against them In the first drive, and
there were several large lots OF the fofmer sold,
which were believed to be for the insiders, but
1t was among the first to recover when the re-
action came. The announcement that the roads
west OF the Missouri river had perfected an
that NO road could long remain out, was q
marked factor in the late trading, and the roads
in that section of the country became prominent
for strength at the close. The news of the day,
other than that from the other side, was not of
sence of the usual pessimistic advices from Chi
cag0.
The market opened very active and decidedly
weak, most stocks being from d to 81 per cent.
lower than on Saturday evening. The coal
stocks, Changers and Union Pacific showed
most weakness in the early dealings, but in mono
of these were the first declines supplemented for
however, dropped over point. TIE losses in
the rest OF the list were confined to smallest frac
tons Pullman scored a net loss OF per cent,
but therest OF the active list are almost invariably
higher, and Burlington Il Quincy rose / d, Man
haitian liz and Atchison per cent.
Railroad bonds were very quiet, all the ANNA
ton impaired to the dealings being from the
activity in the Reading issues, and the second In
comes furnished 100000 TO the days total OF
81 ,351 ,O0O The market sympathfzeG with the
weakness IN the share list at first, ana while there
was better tone late in the day, most of the i'm
portant changes this evening are in the direction
OF lower figures.
Government bonds were dull and steady.
State bonds were dull and steady. Closing
quotations were: