The Indianapolis journal., 1885-12-11
CONDITION OF THE MARKETS.
Wheat Unsettled and Nervous, Accom-
panied by a Decidedly Bearish Tone,
Caused by the Large Amount on Passage, and
the Anxiety of Holders to Sell-Pro-
visions Slightly Lower.
MONEY. BONDS AND STOCKS.

ket Active but weak.
NEW YORK, Dec. 10.-Monev on call was
sasy at 203 per cent.
Prime mercantile paper, 405 per cent
Foreign exchange was dull, but steady and un-
changed.
The total sales Of stocks to-day were 597, ,595
shares. including the following: Delaware,
Lackawanna 6 Western, s7,s46; Erie, 21,s10;
Kansas Texas, 1880; Lake Shore, 41,O77
Louisville 6 Nashville, 1905; Northwestern,
2l,480; New Jersey Central, 5440 New York
Central, 13, 100; Northern Pacific, SAT-; Pacific
Mail, 1900; st. Paul. 1855; Texas Pa
eifc, 426l2; Union Pacific. 1860; Western
Union, %, $50; Northern Pacific preferred, 16,-
S86; Oregon & Transcontinental, 1859
Government bonds were dull and steady TO-
day.
State bonds are dull and strong
Railway bonds were dull, except for a few
Issues. The total sales were So, 827, ,OOO The
Texas & Pacific frsts Rio Grande division,
coupon off, contributed $767 900 of the amount.
These bonds were per cent lower at the open
ing, at "a, and during the morning declined to
30, later remained about steady at fractions
above that price, until during the last hour,
when they rallied to 51s and closed at 81; a net
loss of 81. On much smaller business the
land grants are down 81 The sales of Erie
seconds were 1928, 900, at net loss of s. The
transactions in West Shore trust scripts were
S26S,000.
Stocks were active and weak. The tendency
from the opening to the close was downward
but the deciine was frequently checked and mod
crate reactions followed in each case. The great
est weakness was developed after midday, but in
the last hour there was show of considerable
strength. An advance, however, during the
early part of the hour, was largely lost in the
final de aings, and the market closed weak at
fractions above the lowest prices of the day.
Ihe highest prices were generally at or near the
opening. Over go per cent of the days business
was in six stocks-Lackawanna, Missouri, Kan
sas 81 Texas, st. Paul, Union Pacific, Lake
Shore, and Texas g. Pacific One Of
market was the decided weakness in Missouri,
Kansas & Texas and Texas Pacific, which was
attributed to an attack upon the properties by
insiders. Parties who have returned from a
trip over the Texas & Pacific report that large
sums OF money are necessary to put the road in
proper condition to handle the business which it
is doing, and it is said that some plan of reor-
gainizat1on may have to be adopted. The street
Is suspicious on account Of the large amount of
H., K. d L. stock thrown upon the market inn
mediately after the return of Mr.. Connor from
Chicago, and it is thought that there is an un-
Outstanding between him and some prominent
Chicago holders of the stock. NJ, K. & II. sold
down from 33! to 3Os and closed lower, with
net loss from last evening of 81 per cent; Texas
% Pacific is q lower. The remainder of the
active list is off to !, the latter in New
York Central. Lake Shore shows decline
Of II, and Canada Southern Il per cent. 1t was
announced in the middle of the day that Presi-
dent Garrett of the B. & O., had retired from
the board of directors of the New Jersey Central,
but the announcement had little if any effect
upon the price of that stock. 1t shows loss to-
night of Is. Reading is down ii. Lackawanna,
after very feversh and active day, selling be-
tween 128 and 1853 closed with loss of Il, at
126 Delaware & Hudson is also down II per
cent Compared with the other active stocks
St Paul showed considerable strength, espec-
taly late in the day. resisting all efforts drive
the price much below 93s, at which it closed
o net decline of ! per cent The report
for the first week in December shows an increase
In gross earnings of the company of $39,515
Pacific Mail was also well held, and closed with
q decline Missouri Pacific is down on a small
business.
The ''bears" have exhibited bolder front to-
day than for long time past, and their attacks
have met with less resistance than usual It
has, however been repeatedly suggested during
the day that the present weakness in certain
stocks which have had the support of the old
"bulr combinations in the past are for the pur-
pose of encouraging the ''short" interest prepara-
tory to an advance. The street is more than
usually puzzled. tonight. in regard to the look
out for the immediate future.
The market closed with the following prices
bid: