The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-16
CONDITION OF THE MARKETS
Fair Local Demand for Wheat, but the
Feeling Was Weak and Prices Lower.
Little Interest in Corn-After Numerous Fluc-
tuatiOns Oats Close at Good Advance
Provisions Almost Neglected.
MONEY, STOCKS AND BONDS.

The Market Much Depressed and Consider
ably Lower Along the Whole List.
NEW YORK. March 15.-Money on call was
easy at 1laa2le per cent, the last loan being
made at gig, closing offered at 2l2-
Prime mercantile paper, 4le06 i2 per cent
Sterling exchange duh but steady at $4-s5a
for sixty-day bills and S4ssa for demand.
The total sales of stocks to-day were 317,143
shares, including the following: Atchison, 49,
400; Delaware, Lackawanna d Western, 90
ITO; Erie, 3,16O; Lake Shore. IL, 800; Louisville
IL Nashville, 5000; Missouri Pacific, 1900;
Northwestern, 16.5O0; Northern Pacific pre-
ferred, O,7OO; Oregon Transcontinental, $500;
Reading. $4,000; Richmond &c West Pc int, TO-
700; St Paul, 2s,700; Union Pacific, IL, 300;
Western Union, 800.
The stock market was weaker than II has been
for some time to-day, and the amour of business
done viii compare favorably with any previous
day this year. All the influences at work upon
the market seemed to be of a depressing nature.
though the engagement Of over $1,70000c for
export was probably the most important. There
was an uneasy feeling reported atParis. and this
was reflected in the London market and here,
and American securities on the other side were
all lower, with considerable selling to iquidate
The ultimate destination of the old Is unknown,
but the low state Of the surplus reserve at pr es-
emit gave rise to apprehensions OF the future
scarcity OF money, especially II the outgo OF
gold should be continued. The squeeze in st.
Paul did not seem TO have any further effect
upon the general list, and, although the stock
loaned at one-sixteenth per day, there was plen-
ty of stock for sale, and after open ing down
nearly point 1t sagged of and tonight Is ma
terially lower. The pressure today reached all
portions OF the list, and, outside of the grang-
ers, there was more selling than at any previous
time this year, and the declines on n unusually
large business are heavy and uniform, while the
number of stocks dealtin was remarkable. There
was a renewal Of the reports Of rate-cutting in
the West, and the alleged accusation of
Judge Cooley that the trunk lines were shading
on their export rates was used with much effect
against the general list. ALI the grangers were
weak, but Rock Island and Burlin gton Quincy
reach lower figures than have he retofore been
attained, and rate was made up on the Missouri
Pacific in the afternoon which made 1t one Of
the weakest stocks onthe list. The other Gould
shares sympathized, and Manhattan especially
yielded very readily. Pullman led
the specialties, and OF those shares
Memphis 81 Charleston was the only
one showing any strength, and that has not been
traded in for long time. San Francisco pre-
ferred became the feature just before the close,
and dropped rapidly. The lowest prices were
generally reached after p. NJ, but the rally
from the lowest points was insignificant, and the
market finally closed fairly active, and heavy
to weak at or near the lowest figures of the day.
Everything, without exception, is lower. Pull
man lost 8, Manhattan 34, ex- dividend Of 11e
per cent. scrip, Rock Island &. Missouri Pacific
and Tennessee Coal 1es, Burlington & Quincy
and ST. Paul So, Atchison Ii. New England I le
Pacific Mail per cent, and some OF the special
des larger amounts.
Railroad bonds were quiet and in some por-
lions of the list sympathized with the depression
in shares, giving an unsettled tone TO the market.
Some marked movements were made while most
issues were dull and almost unchanged. The
weakness in the Kansas d Texas issues was q
feature but beyond that the trading calls for lit
tie comment The sales reached only 81, 124 900.
The declines include Kansas d Texas fyes, 1, at
81; the sevens. pig, to s7le, and Ohio & Missis-
sippi seconds, 2ls, at 1873. Among the advances
was Beech Greek frsts, 2i2. to 91l2.
Government bonds were dull and steady.
State bonds were entirely neglected. Closing
quotations were: