The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-07
CONDITION OF THE MARKETS
Operators Unable to Decipher the Wheat
Market, Which Is Still Unsettled.
Corn Quiet and Steady-Oats More Active, but
Slightly LOwer-Proyisions Quite Brisk
and Somewhat Higher in Price.
The Market Active but Feverish and irregu-
lar, and Slightly Lower.

The Market Active but Feyerish and Irregu-
lar, and Slightly Lower.
NEW YORK, March 6.-Money on call was
easy at 203 per cent, the last loan being made
at 2; closing offered at 1.
Prime mercantile paper. al per cent.
Sterling exchange dull but steady at $4.S6 for
sixtyday bills, and $4-ss% for demand.
The total sales of stocks to-day were 225,-
7OS shares. including the following: Atchi-
son, 4,54O; Delaware, Lackawanna & West
ern, 5000. Lake Shore, 7,O55; Louisville Il
Nashville, 1885,; Missouri Pacific, 11,610; New
England, APO; Oregon ranscontinental, $3.50;
Reading. 10000; Richmond & West Point,
1925; st. Paul. 29,035; Union Pacific, 1850;
Western Union, 10,190.
The stock market was somewhat more active
to-day, and on the whole was feverish and quite
irregular. with a generally heavy tone, ana most
stocks tonight are fractionally lower than last
evening. London figures this morning were
slightly lower, but the foreign buying to-day was
considerable and aided in resisting the attacks of
the bearish element upon the list, while the buy
ing for domestic account was of the best charac-
ter. and the selling was confined almost entirely
to the professional element. The anxiety felt in
some sections in regard to the standing of the
French copper syndicate gave the bears the
opportunity Of making prices In the fore
noon. and although most of the list
reached their lowest figures in the
last hour. the largest part of the decline
was made in early trading. The general dissat-
isfaction with the action Of the Manhattan direct
ors in the matter Of the dividend, made that
stock especially weak, and the other Gould
stocks suffered in sympathy. In marked contrast
with these shares the Oregon stocks showed de-
cided strength, although the consolidation with
the Utah and Northern lost the Shortline all of
its early Improvement. The decision of the Su-
preme Court, which relieves the Oregon Naviga-
ton Of all liabilities to the Oregonian railroad,
was made the occasion OF an advance on that
stock, and 1t stands alone this evening in showing
q material gain for the day. Late In the day there
was a determined drive st Reading, but the result
of the raid was entirely insignificant, and the
other coal stocks were quiet and well held.
The Changers, especially, in the forenoon showed
unusual strength, with st. Paulir the lead, butall
the marked movements. as usual Of late, were
confined TO the specialties. Colorado Coal be-
came very weak toward the close. while Tonnes
see Coal was strong all the way out, and the new
Chesapeake q Ohio first preferred again made a
marked upward movement
First prices were generally slightly lower than
last nights figures, but Texas Pacific, Pacific
Mail. short-line and Manhattan were conspicu-
Ously weak, the lastnamed being down 2 per
cent. The demand for stocks at the opening,
however, was large, and on a fair business prices
advanced, with the Oregon stocks the special
feature, and 81. Paul leading the general list.
Manhattan was very weak, and other Gould
shares reacted with the rest of the list, and the
early gains were wiped out before the end of the
first hour, when the market became less active,
though smart rallies in Manhattan again placed
the general list above the opening figures. Dull
ness was the great feature of the market after II
O'Clock. and while Chesapeake & Ohio first prefer
red, and Chicago Gas showed marked strength, the
rest OF the list gradually yielded. and Colorado
Coal became the weak feature. Toward delivery
hour there was a raid on the coalers, and espe-
cially Reading, but the attack had no more effect
than to keep the declines going in the general
list, and the market finally closed quiet and
heavy TO weaker at fractional losses from the
opening prices, although the great majority
OF the active stocks are lower this evening. The
only marked decline is 27s per cent. in Manhat-
tan, while Chesapeake & Ohio first preferred
rose 19 and Oregon Navigation III
Railroad bonds were quiet, the sales of all Is
sues reaching only 81 $685. 900, and the only
feature TO the trading was the animation Of the
Reading second incomes, which furnished
$4,000, and the International seconds,
100000, 10 the days total. The market showed
a general heavy tone during most of the day,
and of the important changes in quotations the
majority are in the direction of lower prices.
Government bonds were quiet and steady.
State bonds were neglected. Closing quota