The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-15
CONDITION OF THE MARKETS
After Ruling Quiet and Weak, Wheat
Closes Steady at aSmall Loss in Price.
Corn Moderatively Active but Lower-0ats
Unsettled at Decline-ProvisiOns in Good
Request, but Weak and Declining.
MONEY, STOCKS AND BONDS.

The Market Dull and Weak, and Devoid Of
Interest Except In a Few Leading Shares.
NEW YORK, March 14.-Money on call was
easy at 2a3 per cent, the last loan being made
ut 2l2, closing offered at pig.
Prime mercantile paper, 4l2d6i9 per cent.
Sterling exchange dull but steady at $4.s5A
for sixty day bills and S4.sss for demand.
The total sales of stocks to-day were 231 ,231
shares, including the following: Delaware,
Lackawanna & Western, $4,000; Lake Shore,
10000; Louisville IL Nashville, 5000; Missouri
Pacific, $500; Northwestern, 6.40O; Reading.
$500; ST. Paul, 47,1OO; Texas Pacific, 5000;
Union Pacific, 1000.
The stock market was dull and weak to-day,
but outside Of the few leading shares there was
nothing of interest in tine transactions. The
market turned entirely upon the course of st.
Paul. and the usual strength shown in that
seemed TO have everything in their own
hands. The street knows now, II it did not be-
fore; that there Is powerful pool behind ST
Paul and the sensation OF an otherwise feature
less day was made by the simultaneous calling In
OF loaned stock, and the rate for Sc Paul ran up
as high at ls per cent. per day. with 4 per cent.
asked. The operation was extremely exaSperat-
ing to the "bears," and threats of boycotting the
stocks were heard on all hands, which, however,
may pe Ior Tat 1nsy ARE T tbs feeling
very bearish among the traders, and some sell
ing by London Encouraged further drives against
the list with the grangers and coal stocks as the
special objective points. In ST. Paul and Reading
the aggregate transactions ran up to large
figures, but in neither was the impression made
equal TO the efforts put forth,
and shortly before noon the squeeze
was begun which resulted soon in rallying the
entire list, although the covering was believed to
be entirely from the smaller shorts" The pres
sure, however, was sufficient TO advance ST. Paul
Ia per cent and others in proportion, when the
"bears" thought that they detected inside sell
ing, and when the pressure was lifted somewhat
prices went back again. Among the coalers
Lackavanna showed most weakness, but its
fluctuations were only fractional. The Wander
noon. and Lake Shore steadily sagged off and at
the close was materially lower than last evening.
Louisville & Nashville, on the foreign selling,
was also specially weak. There was less move
ment among the specialties than usual
of late, but Pullman and Perry
Coal were lower, and Denver, Texas &
Fl. Worth and Denver & Rio Grande were high
er. Chicago Gas also made a squirt, but was I'M
able to hold the advance. The news of the day
was entirely of negative character and had lit
tie influence one way or the other. The close
Chattanooga rose per cent, but the others are
with but few exceptions fractionally lower, while
Lake shore yielded / L., and Louisville e. Nash
vile per cent.
The railroad bonds market is still quiet to dull,
and the total sales of all issues to-day reached
only 81, 196 900, with very even distribution of
business There was no special feature to the
trading, and while a generally firm tone pre-
vailed throughout the day. important changes in
quotations are few In number. Chicago Gas and
Coke firsts rose 2, to 49,
aHa Ar1ll and fivrr,