The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-10-05
CONDITION OF THE MARKETS
The Pork Clique Calls Upon the Courts
to Help Out with the October Deal.
1t Evidently Has All 1t Can Carry-Wheat Adj
yances. but There Is Little Snap to the
Trading-Corn Slightly Lower.
MONEY, STOCKS AND BONDS.

Heavy Attack Made on the Trust Securities
Sugar Makes Another Wild Slump.
NEW YORK, Oct. Mooney on call was
tight. ranging from 4 to 12 percent, the last
loan being made at 4 per cent; closing Of
fered at 4 per cent.
Prime mercantile paper 5l267l2 per cent.
Sterling exchange weak at S4.s2l2 for
sixty-day bills and S4.S7 fr demand.
The total sales of stocks to-day were 276.-
p04 shares, including the following: At
Gibson, 1880; Delaware, Lackawanna 81
Western, 10000; Louisville & Nashville. 49,
$50: Missouri Pacific, 1885; Northwestern.
Alb; Northern Pacific. preferred, 1871;
Reading, 14,325; Richmond & West Point,
1855; st. Paul. $3.50; Union Pacific, 7,190:
Western Union, 1856.
Again the money question. with the weak
ness in the trusts, were the great influences
which dictated the course of the stock mar
ket to-day. Before the opening of business
at the Stock Exchange it was known that
$500. 900 more gold had been ordered for ex-
port by to-morrow's steamers, and it being
Y. when all loans on call hold over
Hionday, which induces many institu-
mons to keep off the market considerable
sums of money, the money market was
stringent, and 10 per cent. was paid for ac-
~commodatiOns. This created a bearish feel
ing among the traders. and. with the
bears" they made q violent attack upon
the trusts as likely to be most vulnerable.
Cotton Oil was paid most attention to at
first. and as there was still a great deal of
discrimination against those shares, large
mounts of long stock came out to help
along the drop. There was absolutely no
support to any Of those stocks. and Cotton
Oil was a sufferer from assertions that the
price of their commodity must come down.
The extreme decline in it reached 5 per cent.
but later Sugar came along with q drop of
over 8 per cent. Considerable pressure was
brought to bear upon many stocks in the
regular list, but only in Atchison was there
any real impression made, and Ii declined
only Ia. though it touched the lowest price
In the history of the company.
In the afternoon some of the s~pecialties
yielded, aud Louisville q Nashville went
off IL, Manitoba 2 and Delaware & Hud-
son, Pullman and some others became
prominent for weakness. Chicago Gas was
also attacked at this time, and a drop of 3
per cent. was scored IN 1t. though the
greater portion of this was recovered, as
most of the sales in 1t were short contracts.
Stock ceased TO come cut towards the mid.
die of the afternoon. and the shorts
went in to cover, which caused q mart
rally. which brought Sugar ny about 3 per
cent, Cotton Oil nearly as much. with
others in proportion. Burlington contin-
ued to display most marked strength and
led the stocks of the regular list. though
Manhattan was specially strong III the last
hour. ard fully recovered its early loss.
Money also eased off toward the close, and
from 12 per cent. it declined to and closed
at A. The close was quiet and firm, with
the stocks of the regular list within small
fractions of the last nights prices, and the
trusts materially higher that their lowest
figures. The magnitude of the trading in the
trusts may be gathered from the fact that
while the total transactions in listed were
276,94 shares. the transactions ia unlisted
stocks footed up 100. 400, of which Cotton
Oil contributed 90,035; Sugar 1850. and
Lead 21.013. In the first hour, however. the
trading in the trusts was about 5000 shares
more than the business in railroad stocks.
The general list tonight is i%rregularly
changed for small fractions generally, and
the only marked changes were declines OF
47s in Sugar, ga in Cotton Oil and Ia in
Manitoba.
The activity and weakness in the share
list seemed to have no appreciable effect
upon bonds. and they were still dull, with
little or no feature to-day. though the tone
of the market was generally rather heavy.
The sales reached S106,000.
Government bonds were dull and steady.
State bonds were dull and steady. Clos.
ing quotations were:
Four per CT. reg...127 &C., 81. L. &P...... IA
Four per ct. coup. 127 C., 81. LIZ & T. pref SO
Four and q 1as reg. Jos Clev'd u Copmb's....
-Four and q 1os coup1054 Fort Wayne-.-----157
D4.rI q = - no UIs.2s- U-A-