The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-14
CONDITION OF THE MARKETS
Fair Trading in Wheat, with a Stronger
Feeling and Somewhat Higher Prices.
Corn Fairly Active at an Advance-Oats
Steady After Opening Orders We're Filled
Liberal Transactions in Provisions.


The Market Dull and Heavy, and fraction
ally Lower for Nearly All Shares.
NEW YORK, March 13.-Money on call was
easy at 1laa3 per cent; the last loan being made
at 2, closing offered at 2.
Prime mercantile paper, 4120 Ga per cent
Sterling exchange dull but steady at $4.65@
for sixty day bills and s4.ssss for demand.
The total sales of stocks to-day were 10000
shares, including the following: Delaware.
Laekawanna & Western, 10000; Louisville &
Nashville, 300; Missouri Pacific, 5000; North
western, 1900; Northern Pacific preferred,
400; Reading. $1,000; ST. Paul, $4,000; Union
Pacific. 800; Western Union, 5000.
The stock market to-day was dull and heavy
throughout the greater portion Of the time, and
prices tonight are generally fractionally lower
than those of last evening. Notwithstanding the
long-deferred acceptance of the craftsmanship of
the Interstate Association by Mr.. Walker. which
had been looked for as the probable precursor
OF an upward movement in the stock market,
together with the buying by London of ST. Paul
and some other shares, there was a marked in
disposition TO invest on the 'long' side. while
the "bears" were encouraged by the dizziness to
make another drive at values and they were
aided by the bearish utterances attributed 10 Mr.
Gould, with the dissatisfaction over the scned-
nile of prices adopted by the coal sales agents.
The uncertainty in regard TO the dividend upon
st. Paul preferred also was factor In restrict,
ing purchases, and this was not removed unul
the last hour. The fluctuations In ALL except
few specialties which were generally weak, were
made within the narrowest limits. and although
the efforts for a decline were persistent there
was 10 "long' stock of Importance brought out
and the net result of the days transactions
is small fractional declines only. Philadelphia
was a seller OF Reading, but the STOCK re-
ceived good support, and Its extreme range
for the day but ha a o. per Sen readS ond
Lackawanna, especially, became prominent Tor
the weakness displayed at times. st. Paul was
very well held toward delivery hour, when it
gave WY with the rest of the list, but the pre-
ferred rallied sharply toward the close with the
rumor of the declaration of the per cent divi,
dend. The Gould stocks were sagglng all
through the session, although Manhattan was
the only one which shows any marked decline
at the close Among the specialties Pullman
was extremely weak, dropping over per cent,
but recovering portion of the loss. Chicago,
st. Louis 81 Pittsburg preferred, San Francisco
preferred, the Oregon stocks and some others
were prominent for the losses incurred on light
trading, while Chattanooga rose sharply, and is
the only stock showing any material advance.
cases there was some further slight improve
ment in the early trading, but the "bears" soon
renewed tnelr pressure upon tae granger anu
veloped In them, with a decidedly weak tone,
and declines reached nearly point before the
downward movement met with q check. Lacka-
wanna, Missouri Pacific, Manhattan and Pull
man were the weak spots, although Reading and
St. Paul led in the amount OF business DONE The
the feature by reason of the exceptional strength
displayed. but until well into the afternoon the
market was intensely dull and stagnant An
other drive then sent ST. Paul and Lackawanna
down with Pullman, and the lowest prices OF the
day generally were reached in the neighborhood
of / p. NJ. A better tone prevailed in the last
hour, and St Paul preferred especially made a
sharp rally, and the close was quiet and firm at
the figures. The great majority of the active
shares are lower tonight. but the losses are for
fractional amounts only, except in the case of
Pullman. which is down liz. while Chattanooga
rose per cent.
The railroad bond market quite dull to-
day, the sales of all issues aggregating only 81,
017,000, of which 100000 were in the Rich
mond d Allegheny second certificates. The tone
of the dealings was generally firm, but the
changes In quotations at the close are quite IT.
regular and generally for small fractions. There
was no special feature whatever. The import
ant advances include Burlington, Cedar Rapids
& Northern consol fives 8, to &c. New Orleans
& Mobile seconds 3l2 To 105, and Mobile i Ohio
extension skies 3, to 10S.
Government bonds were dull and steady.
State bonds were entirely neglected. Closing
uuOtatiOns Were