The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-08-04
CONDITION OF THE MARKETS
Chicago Wheat Advanced Cents in Less
than an Hour and Held Strong.
Bulls" Had Possession OF the Grain-Pits and
-Shorts" Rushed to Cover-COrn Sympa-
thized with the Adysnce-POrk Firm.
MONEY. STOCKS AND BONDS

Mox.mens M Western Crops Having les Le-
ultimate Effect on the Stock Market
NEW YORK. Aug. 3-Money on call
was easy, ranging from Z TO 2 per cent. the
last loan being made at y per cent, closing
offered at Z per cent
Prime mercantile paper. 5sa9719 per cent
Sterling exchange was quiet and steady
at s4.s4l4 for SIXTY day bills and s4.s6l2 for
demand.
The total sales of stocks to-day were 114.-
246 shares. including the following: Atchi-
son. 1900; Chicago Gas. 4.2Oo; Louisville
q. Nashville, 4.565; Northern Pacific pre-
ts5red, s.4s6; Reading. 80. 200; Richmond &
Pacific. 800.
The stock market to-day went back al
most to Its old condition of dullness and
listlessness and the grangers, especially
Burlington and st. Paul, furnished all there
was of interest in the trading. The feel
ing among the professional operators was
more bullIsh than for some time and the
"shorts" displayed considerable nervous
noss. which led to efforts to cover outstand-
ing "short" contracts early in the day.
making higher opening and some activity
in the first half hour. The glowing reports
from the West of the excellent condition
of the crops ana the extraordinary move
ment of winter wheat are having
their legitimate effect, and while the
leading "bears" still maintain ap-
parent confidence in their position
and predict still lower prices for
every thing. the evidence goes to show that
the desire to cover which caused the rally
last week is not yet satisfied. The nature
q n Il
is sufficiently indicated by the cessation of
activity when the efforts at depression
cease. The dealings to-day after the first
squirt of activity. due TO the demand from
the shorts" left over from last week, be-
came utterly devoid of feature or move
ment of interest, even among the specialties
and low-priced shares which usually fur
nish tue movement even IN the dullest
market Prices throughout the day failed
TO get more than a fraction from the open
ing figures and absolute stagnatIon
relgned after noon. accompanied by
the most intense dullness. Raiding
on small scale was attempted
during the forenoon on various items of
outside news. but ali failed to do more than
kill the animation in the market and hold
prices down to the level of the opening
figures. In the Last hour. however, there
was an attempt TO cover the contracts put
out earlier in the day with the result of
making little more activity snd bringing
prices up to slightly higher figure than
during the first hour. The market finally
closed dull and firm at something better
than the opening prices Burlington was
the one feature of the day. although st.
Paul showed q little larger business and
it was the only stock which shows q mater
ial Improvement, its gain for the day being
] per cent.
Railroad bonds were very dull and except
for some little animation in the Richmond
* West Point tives and the Oregon i'm
prOvement lives. presented no feature of in
ha RiQhmnnh x a
were strong. however, and the skies after
paying the interest recovered 1 per cent,
while the fives are MP like amount at 56l2.
The other issues traded in were dull and
listless as stocks. The transactions OF the
day foot MP only s572.OO
Government bonds have been dell and
Irregular. State bonds were entirely neg
lected. Closing quotations were: