The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-17
CONDITION OF THE MARKETS
Chicago Wheat Takes Another Header
and Shows No Indication of Bottom.
Free Liquidation Of July Grain Held to Stsve
OF an Expected Squeeze Caused the Sud-
den Decline-Pork Much Stronger.
MoNEy. STOCKS AND BONDS
30 Little Disposition TO Trade that Brokers
Are beginning to GrumbIe.

30 Little Disposition TO Trade that Brokers
Are Beginning to Grumbie.
NEW YORK, July 16-Money on call
was easy. ranging from 1l2 to 9 per cent,
the last loan. being made at 2, closing Of
fered at 2 per cent. -
Prime mercantile paper. 5i2G7 per cent.
Sterling exchange was quiet and steady
ats4.s434 for sixty day bills and S4s634 for
demand.
The total sales of stocks to-day were S..
4O4 shares. including the following: Atchi-
son, 4. 100; Chicago Gas. 3.5l0;St. Paul. 9.400;
Union Pacific, 900. 2t
The general indisposition tn operate in
the stock market has grown to such pro-
PORTIONS that even the traders are COM
planning that the fluctuations are insult
cient to afford q chance of profit on either
side. and the outside public are out en-
tirely, so that the comm issIon business
transacted is almost nothing. NOtwith-
standing this there is general confidence IN
the future and no inclination to part with
their holdings is detected on the part of the
present owners of American securities. and
the bear manipulation seems 10 have FOR
its object the making of opportunities to
pick up stocks rather than to cover short
contracts. The advices from abroad go to
show that there is much better feeling on
the other side of the ocean, and that Amer
lean securities are looked upon with great
favor and the late purchases for foreign
account, even though they are very limit
ed, have an influence to create confidence
here. The beginning Of the movement OF
the new crops and the weaker tone to the
foreign exchanges have done away entire
~ with the gold-export scare. and nothing
Is now heard of 1t In the street. The dull
hess and stagnation of the market to-day
were equal to anything seen of late. and
tine trading was more barren of feature
than il has been for months.
The only important movement was
the decline a in S cOrdase;; while anE,,; no
irs,ied in. The invitation of the Post
master general for bids for carrying the
mails helped Pacific Mail at the opening.
Int it's influence was soon lost. The final
gain of the stock Is n small fraction.
burlington showed evidence of more inter-
est than any other stock on the regular list,
though st. Paul, as usual. was more active.
but in neither was the extreme tuctuation
for the day more than fraction. The gen.
eral market opened firm under the infiu-
enre of a few foreign buying orders. but he
came heavy immediately, losing almost all
the advantage. and while presenting firm
front during the afternoon the changes IN
quotations were so Insignificant that the
final changes were for the smallest frac-
lions only. except in Cordage, which 10
down Il per cent. The close was dull and
steady at the figures.
Railroad bonds were equally as dull and
Iifeless as stoke. to-day. though a little
character was given to the trading
by the activity and strength in Atch-
ison incomes which. however. rose
only a small fraction. Their sales reached
flO9. O00. ont of total of only S592. 900 for
the day. firm tone resulted in generally
higher figures but the gains are. in all
cases insignificant.
Government bonds were dull but firm.
state bonds were dull but steady. Clos