The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-04-05
CONDITION OF THE MARKETS
Free Selling Of May Wheat Causes 1t to
Break and Decline Over Six Cents.
II Reacts, However, and Closes at a Compare
lively Small LOSs-COrn Rather Quiet
Oats Firmer-PrOvisiOns Neglected
MONEY, STOCKS AND BONDS.
The Market More Active and Strong, an
Higher for Many Shares.

The Market More Active and Strong, and
Higher for Many Shares.
NEW YORK, April Mooney on call was
easy at 3 to 5 per cent, the last loan being
made at 3 per cent, closing offered at 2 Per
cent.
Prime mercantile paper, "a Gig per cent.
Sterling exchange dull but firm at $4.s64
for sixry-day bills, and S4-ss@ tor demand.
The total sales of stocks to-day were 256,519
shares, including the following: Atchison, 37,257;
delaware. Lackawana & Western, s,495; Erie,
3,4OO; Lake Shore, ALSO; Louisville * Nashville,
$500; Missouri Pacific, 26.190; Northwestern,
9,475; Northern Pacific preferred. $685.; Oregon
Transcontinental, Also; Reading, $4,000;
Richmond West Point, $780,; st. Paul, $50;
Union Pacific, $780,; Western Union, $500.
The stock market to-day, after some hesitation
In the forenoon, became more active and de-
cidedly strong. and advances were scored all
over the list, everything sharing in the improve
ment, and the result of the days trading is to
leave almost everything materially higher than
.agt evening. The feeling this morning was gen.
orally in favor of an advance, but the views OF
President Roberts. reported from Pittsburg,
created a feeling of hesitancy, and the buying in
the market did not assume large proportions un-
til later in the day, when the interview with Mr..
Sage and his confident utterances about
Missouri Pacific were published. and not
withstandingt that he denied that Mr.. Gould was
seeking an entrance into the Atchison directory,
the street attributed the rise in Missouri Pa
cifc and that stock to purchases for the Gould
account. The news of the day was not OF a
character specially to affect values, but the an
nouncement that Mr.. Walker had arrived at his
Office In Chicago and would soon begin work had
q favorable influence. Missouri Pacific, Atchi-
son, Burlington and Reading absorbed most of
the interest in the dealings, but the other grang-
ers and coalers were not neglected, especially in
the latter portion of the day. The weak feature
was Chicago Gas, which declined about a point in
the face of the strength shown by the rest of the
list.
The opening was quiet and somewhat irregu-
lar, but generally from ls0ss per cent. higher
than last evenings quotations, while Northern
Pacific preferred was exceptional, with a rise of
81 per cent. The buying OF Missouri Pacific be-
gan soon after the opening, and it got up nearly
a point before the pressure upon the rest of the
list affected it. But everything else, except
Atchison, retired to a shade below the opening
prices. The gain in Missouri Pacific was finally
lost, after which the market remained quiet,
when the list began TO move up again, and be-
fore noon Missouri Pacific had touched 20, a
gain of 13s per cent, which proved to be its best
price for the day. After II o'clock a general up-
ward movement was inaugurated. which
gathered strength as the day wore along.
and the market behaved more like
a genuine ''bull' market than at any
previous time this year. Before delivery n our
the highest prices OF the day generally were
reached. The grangers were specially conspicu-
ous, and st. Paul rose a point. Atchison took
the lead In the last hour, and rose sharply. The
market closed quiet but firm, generally at about
the best prices of the day.
Railroad bonds were a little more active, and
in sympathy with the improved feeling in shares,
were decidedly strong. There was very little
special feature to the dealings, but Reading first
incomes were active and contributed sos, 900
to the days total of S1.467, 900, while the Texas
Pacific issues were remarkably strong. The Dem
yer assented bonds were dull to-day and slug
gish. The principal advances were Ohio & Mis-
sissippi consolidated sinking funds, 1l2 to 117le,
and Great Western receipts, 2 to 80.
Government bonds were dull and steady.
State bonds were entirely neglected. Closing
quotations were: