The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-06-02
MONEY. STOCKS AND GRAIN
No Speedy Change Can Be Expected in
the General Situation at New York.
At Indianapolis Wheat Was Slightly Easier,
and Corn and Oats Pirmer-Certsin Lines
of Dry Goods Show New Activity.
THE BOND MARK 1T.

Several Heavy Drives I'm Stocbs Influenced
the Railroad Issues.
At New York. yesterday. money on call
was easy at 1G1h per cent. the last loan
being made at liz. closing offered at IL per
cent.
Prime mercantile paper, sac per cent.
Sterling exchange was quiet but steady
ut S4.S7 for ~sixty-day bills and S4.eS% for
demand.
The total sales of stocks were 2is,0S4
ebares. including the following: Atchison.
10, us: Chicago Gas, 1890; Erie, 1870;
Louisville d Nashville, IL. 7SS: Northwest
ern. $500; Northern Pacific preferred. 49,
977; Reading. 45,465; ST. Paul. 1870; Union
Pacific. 400.
The stock market was less interesting
than that of Tuesday. and the transactions
Of significance were narrowed down to
three or four stocks. No change in the
general situation seems likely to be made
until the crops are well forward. The
granting of a preliminary injunction by
the chancellor Of New Jersey. restraining
the Port Reading railroad from operating
the Jersey Central, was made the basis OF
an attack upon Reading. and the early
weakness resulted in a loss of something
over l per cent. The influence OF this did
covery was fol owed by dizziness. North
ern Pacific preferred was the other special
point cf attack, but the occasion for the
drive was old and IFS result was measured
by smaller iisnres than that IN
louisville & Nashville later in the day
were subjected To some pressure, but with
St. Paul and Erie they were held within
narrow limits. The industrials continued
80 h. Of nnrK
but in none of these eve was the range of
prices of Importance. The opening was
made at lower prices, Reading Loading
with a loss of y per cent. The bears con-
centrated their efforts at first on Reading.
but later Northern Pacific preferred was
taken in hand and Louisville Il Nash
willie followed. The declines In these
stocks. however. failed to dlslodge
stocks in the general list, and as quota
tions went down a more stubborn resist
ance was met, which compelled the OYER
ators for lower figures to turn their atten-
tiOn to fresh fields. Accordingly such
stocks as c.. C., c. ST. L.. In the absence
of support. were suddenly attacked and
driven down from GA to Us. Erie preferred
from Sc to "a. and Jersey Central was re-
membered late in the day and sold oil from
40 TO 1854. Oregon Navigation also sold
down to 65, but recovered a portion of the
loss. r~allying to 81. Burlington. Rock
Island and ST. Paul were pressed for sale,
but the resistance was so efficient that the
fluctuations of neither reached more than
O fraction. The close was heavy, though
quiet. at Insignificant changes in most of
the list. The industrials. which had neen
the strong point In the market. were
dropped suddenly In the last hour. and the
lead stocks are lower. Among the active
stocks final changes were insignificant eX-
cept in Reading. which lost / per cent.
Railroad bonds in the main were still
firm to-day, but there was less animation
in the list. The Reading issues developed
some weakness. following the stock. though
no material loss occurred. The sales
reached 81, 6l5. 600, with special activity in
Atchison incomes. Detroit. Mackinac n
Marquette land grants and the Readings.
Government bonds were dull and steady.
State bonds were dull and steady. Closing
nn0fafi0na were.