The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-10
CONDITION OF THE MARKETS
New Wheat Begins to Pour Into Chicago.
Resulting in General Weakness.
Whilethe European Crop Is Certainly Short, the
Worlds Supply Is Only 8 Per Cent. Short,
and Prices Can't Be Much Affected.
MONEY, STOCKS AND BONDS.

Secret Foreign Orders to Sell Caused . een-
eraI Decline on Change.
NEW YORK, July 9.-Money on call
was easy, ranging from u to 2 per cent. the
last loan being made at 2. closing offered
att.
Prime mercantile paper, 5l207 per cent.
Sterling exchange was quiet and firmer
at s4.S5 for sIxty-day bills and S4.S6s4 for
demand.
The total sales of stocks to-day were 49,
oil shares. including the following: Atchi-
son, S,s13; Chicago Gas, 9,450; Louisville Il
Nashville. 1890; St. Paul. "a. 100; Union
Pacific. $3.50.
Notwithstanding the abundance of money
available for speculative purposes. together
with the bright prospects of the coming
season. there seems for the present to be
no disposition TO enter into any ventures
III the stock market. and dizziness, narrow
ness and general stagnation still mark
the trading. Today there was E
fractional losses were the rule. though
only among q few stocks was there any per-
ceptible tendency In prices. The rate OF
the Bank of England remained unchanged
this morning, and the best observers pro-
claim that there Is no indication of further
shipment of gold this week. but the traders
thought they detected selling of Louisville
IL Nashville for foreign account. and they
attacked that stock with some effect. The
grangers came in for some of the same kin
OF attention., and especially st. Paul and
Burlington weakened under the pressure.
The remainder of the market was, as q
rule, devoid of feature from opening to
close, though Jersey Central lost q portion
of it's late advance. The traders. who are
III complete possession of the market, such
as il is. after being scared into the cover
- I-A
the expected demand for stocks has not
materialized. and are again en-
couraged to put out the stocks
SO lately covered. Only o few
shares are deemed vulnerable enough 10
tax the risk. and the market, therefore.
continues TO be all in the few shares which
have of late been most prominent In the
dealings. These to-day include only st:
Paul, Burlington. Louisville, Atchison and
Chicago Gas, but the last named was the
strongest of the lot without news of a
character to have much effect. The Open
ing was heavy and extremely dull, and un-
der the pressure brought to bear the lead
ing stocks made considerable progress to-
ward lower figures in the first hour. The
declining tendency was unrelieved by any
feature of note until late in the day. when
COrdage again gave way. dropping gig per
cent. and recovering only q small portion
OF the loss. The three or four active
stocks showed losses of something over
1 per cent. et the lowest prices,
and with some covering in the last hour y
shade was recovered. The close was very
dull and ~stagnant. with the active shares
at close to the bottom figures. The final
changes are in most cases Insignificant. but
Wheeling IL LAX Erie lost Id. the pre-
ferred 1ss. COrdage III, Burlington lis.
Missouri Pacific also lost 1 per cent, and
St Paul. Union Pacific and some others
large fractions.
Railroad bonds gave about the usual
amount of business and displayed a rather
stronger tone than stocks. but felt the
weakening influence, and failed to score
issues were traded In. but the transactions
were without Importance, and the tiuctua-
tions hardly perceptible in most of them.
The business of the day reached S767, 900.
Government bonds were dull and steady,
while State bonds were entirely neglected.