The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-11
CONDITION OF THE MARKETS
Almost a Panic in Wheat, Which Declines
Several Cents On Large Offerings.
Only Moderate Activity in COrn-0ats Ex-
cited and Weak-Mess Pork Irregular
Lard Fairly Active but Unsettled
MONEY, STOCKS, AND BONDS.

The Market Active but Weak, with Material
Losses All Over the List.
NEW YORK, March 9-Money on call was
dull and easy. with no loans.
Prime mercantile paper. 4406l2 per cent
Sterling exchange dull but steady at $4.S5aa
for sixty-day bills, and $4.ssas for demand.
The total Sales of stocks to-day were 213.-
9O2 shares. including the following: Atchison.
Erie, $40; Lake Shore 800; Louisville d. Nash
vile, $40 Northwestern. 1911; Northern Pa
cifc preferred, 1850 oregon Transcontinental.
s,4O0; Reading, Al. 1855; Richmond & West Point,
6,725; st. Paul, 23,llO; Union Pacific, 1877;
Western Union, 10,035.
during the same hours on any previous day this
week. and decidedly weak in its depart
losses in quotations all over the list. There was
timid feeling at the opening this morning, and
the selling by Chicago and the local operators
were very marked, prices on the first sales being
from is to a per cent lower than last evenings
quotations all around while Omaha common
was exceptional, with drop of Ia per cent.
There was evidently no effort to support prices,
and the decline was rapid. when the news of a
panic in Paris came in to help prices down;
Throughout fhrD The eoai an. sraneers and
Union Pacific were especially active, and
felt the full force of the pressure; Among the
specialties, Tennessee Coal received most atten-
ton, and lost large proportion OF It's late gains
The traders put out great many stocks, encour-
aged by the bad advices from the other side, but
at the low figures good buying came in, and by IL
O'Clock the decline had met with a check, and
the market, for the time being, became compare
lively dull, while a slight improvement was
shown in quotations.
The Oregon stocks were conspicuously weak in
the first drive, and Short-line dropped nearly
2 points, while the others were held up
better. Toward noon the bank state
ment was issued, and showed a loss of
over SO 600, 900 in surplus reserve, and ruinor
that So, 000, 900 had been shipped West brought
on a renewal of the selling movement, and prices
again readily dropped, reaching still lower fig
ures than had been seen during the first hour.
The rumors also stated that a large amount of
gold had been takenfor shipment to Europe, but
inquiry developed the fact that none had been
so taken, but that there was an unusually heavy
inquiry for cable transfers, presumably to aid
correspondents on the other side in trouble. No
improvement was seen in the list, and the market
finally closed active and weak at the lowest
prices of the day. The entire active list is lower
cifc, 3s; ST. Paul, 1; Reading and Oregon Navi-
CATION, LII each; c., c., c. q l., Colorado Coal.
Lackawanna, Manhattan and Tennessee Coal,
per cent. each, and others fractional amounts.
Railroad bonds failed to respond to the activ-
ity and weakness existing in shares. and were
dull, the sales OF all issues aggregating only
$40, 0O0 and while weak tone prevailed for
some time prices were well held throughout, and
some marked advances were established in q
few issues. No special feature marked the trad
ing. Among those which are higher this even
can National frsts lost 2l2, at 100. The sales of
bonds for the week were 9,275, 900. against s.
4S4, 900 for last week.
Government bonds were dull and steady.
State bonds were entirely neglected. Closing
quotations were: