The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1890-02-06
CONDITION OF THE R K
Speculative Wheat Continues to ADJ
vance on Fair Volume of Trade.
Corn Rules Dull and Barely ~Steady-0ats
Hold Their Own with Light Business
Hog Products Without Change.
MONEY, STOCKS AND BONDS.

Dealings Confined to a Few Properties
Trusts Active and Unusually Weak
NEW YORK. Feb. 5.-Money on call was
easy, ranging from 8 to 4 per cent, the
last loan being made at 8, closing offered
at 3.
Prime mercantile paper 4s4061a per cent.
Sterling exchange quiet but steady at
S4S3l2 for sixty-day bills and $4S7l2 for de-
mand.
The total sales of stocks to-day were $780,
ass shares. including the following: Della
ware, Lackawanna 81 Western. $500;
Louisville 81 Nashville, 6,7S7; Missouri
Pacific. 1851; Reading, 49, 100; Union Pacific.
9,757.
With the exceptions of Rock Island.
Reading. Sugar Refineries and Lead Trust.
the stock market was dull to-day, owing,
principally, to the mixed opinions among
the traders on the street, and feverishness
and irregularity marked the dealings
throughout most of the day. The transac-
sion in the general list may be dismissed
with but few words although Union Pacific,
after the issue of the report showing q de-
crease in net earnings for December of over
SIS 000, was weak and Louisville 81 Nash
vile and several of the s~pecialties showed
considerable strength. Reports from Lon
don are very encouraging, and the indus
trial speculation having grown much less,
conservative bankers are again Offering
railroad bonds and other first-class invest
ments. The subscriptions for the Norfolk
e. Western loan were five times the amount
allotted to that center. The bears made
strenuous efforts to-day and liberal short
sales were seconded by a plentiful distri-
button of rumors. some old and some new.
but they succeeded in weakening only
q few stocks and in only three of
these were material declines es-
tablished. The trusts were once
more prominent in the dealings. Sugar
was weak from the opening and rallied
feebly at times, but closed at about the
lowest of the day. The bears" claimed to
have discovered that insiders who have
held their certificates since the formation
of the trust were selling, and. as usual.
were trying to take the market from them.
Lead was sold Off upon the publication of
the annual report showing only l per cent.
made upon the stock for the year. Lead
was the more active of the two trusts. In
the regular list Reading was again strong
with reports that the shorts were to be
squeezed again, and the stock was carried
up to Al about noon, the highest price yet
attained and only 112 per cent. below the
last sale of the third incomes two days ago.
Rumors of q mild corner to be worked
in the stock were current. Rock
Island, however, was the feature of the
day, being again specially weak and reach
ing the lowest price for q week past. The
old rumors were still circulated, and re-
ports hat the next dividend would be
passed, which were declared by outsi ders
to be without foundation, were freely cir
culated. The Chicago people were free
sellers upon the story of heavy losses upon
the Western lines and that the movement
against the stock is we'll organized was ap-
parent. A story from Chicago that the
vice-president of the Burlington denied
dividend occasioned considerable comment.
Among the specialties the Chicago 81 East
ern Illinois stOcksrecovered a portion of the
losses of the past few days, and
some others showed material gains.
but as q rule the general list was dull
and without movement of Importance, and
the market closed dull and heavy general
~ at about the lowest prices. The nal
changes are, IN all but a few cases. In the
direction of lower figures, but Sugar, with
Is. Lead with 1ss, and Rock Island with
liz, are the only ones of Importance. Chi
cago Il Eastern Illinois common rose III,
and the preferred 2 per cent.
Railroad bonds were more quiet for the
general list, but the Wabash seconds devel-
oped considerable animation, and furnished
$4,000 out of q total of 81, 248, 900 for the
day. The market was steady and dull ont
side of the bonds mentioned, and the move
ments were confined to the smallest frac-
tions throughout the day. New York &
Northern seconds rose 2, to 81; south Caro-
lima firsts. ex. coupon, 3, to 80, and Green
Bay incomes 2. to %.
Government and State bonds were dull
and steady. Closing quotations were:
Four per ct reg -.123llC., b. & Q.---...1O7zs
-Four per CT coup -1234l c., ST. l.. 4 P.-.... 16ls
Four and Los reg .103l2 c., st. L. P. pref. 40
-Four and a Las coup104le Fort Wayne.-----154
Pacific IS of '95...116 Illinois Central. Lilo
Louisiana std As. 97AlI., b. & w.. 49,.
Missouri Is .---.--.100 Lake Erie &West.. 1Sla
Tenn. new set. 6s--107- u. L. & W. pref -. 66
Tenn. new set. S.. 10212lLake Shore.......1O57
Mutual Union 6s. -102 Michigan Central 94la
81. L.&I. NJ. gen. 5s 81 o. & Mississippi 21lQ
ST. L.&S. K. gen. IN. 1094lO * NJ. pref. SO
Adams Express. .153 lPeoria,JD. IL E.. l9L
Alton & T.. H. 40 IPittsburg- --....l55
Alton & I. H. prf- ITO. Pullman Palace. ..1S9
American Exp.-..115 IT,. s. Express. 85