The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-11
ANERVOUS WHEAT MARKET.
The Official Report of an Additional
Shortage Largely Discounted.
Corn Closes Lower on an Inactive Market
Oats Quiet and Dull-Proyisions
Steady, with Dull Trade.
MONEY. BONDS AND STOCKS.

The Decentralization In Freights Unfayorably
Affecting Stocks.
NEW YORK, Sept. 10.-Money on call was
easy at II per cent, closing at l.
Prime mercantile paper, 405 per cent.
Foreign exchange is quiet and unchanged
The total stock sales to-day were 26S 301
shares, including Delaware, Lackawanna &
Western, %, 700; Erie, 1880; Kansas & Texas
$3.50; Lake Shore, Sc 100; Louisville g. Nash
vile, 1875; Northwestern, 17,050; New Jersey
Central. 1850; New York Central 23,7c0; ST.
Paul, 20,25O; Union Pacific A, 700; Western
Union. IA. 875; Northern Pacific preferred, $500
There was very fair business in railway
bonds today. the total sales being ST. 1885, 900, of
which Erie seconds contributed 1921, 900. The
latter were weak all day, selling down from 654
to 63s, and closing at 634a, loss of II per cent
These bonds have come to take the place largely
Of stock in speculation on the Stock Exchange,
and are therefore influenced to greater extent
than most bond issues by the course of the stock
market
Cable dispatches received at the Wabash
Office, in this city, to-day state that So 500. 600
of the general mortgage bonds have been
deposited in London. Under the agreement
about g. 100 600 have been signed in New York,
and the total amount assented is 81, 500, 900, or
within 1901, 900 of majority. The purchasing
committee will soon announce limit to the
time during which bonds can be deposited.
The stock market was dull, feverish and
irregular and, during the afternoon. decidedly
weak. The general Generalization of freight
rates which has extended to the South is having
depressing effect upon prices. In the coal
trade there has been further reduction in the
schedule prices, while the companies selling
with little if any regard to such schedules, but
at such figures as are Obtainable.
Much interest continues to be felt in the
transaction consummated yesterday by the
Union Pacific, by which it has at last changed
the character of its floating debt.
The opening prices this morning did not differ
much from yesterdays closing. but the highest
prices to-day in most cases We're made at or soon
after l P. NJ Although the market was very
irregular the fluctuations generally. were within
a narrow range, and in few instances prices
slightly higher were made after midday. Very
decided weakness was developed in the after
noon, in which the Vanderbilts took the lead, on
o runor that the directors had decided to
pass the neXt dividend. Late in the
day this rumor was denied, and it was stated
that the subject of dividend was not discussed
at the meeting, which was devoted wholly to
West Shore affairs. 1t was understood that it
was decided to call special meeting of stock
holders, on Nov. 81, to vote upon the lease of the
West Shore. An effort was made to check the
decline, just before 3 p. NJ, which resulted in
closing the market, in many cases, small frac
lions above the lowest ngureS; but Lake Shore Is
down 2 per cent. from last evening, apd New
York Central IL The latter closed at
gain of from the lowest prices
and Lake Shore l. There was
very active business in Lake Shore. the sales
being the largest on the list Union Pacific did
not go above per cent over yesterdays close
In the afternoon it fell to 49b, but closed higher
with loss Of J. New York Central developed
decided weakness and feyershness in the fore
noon. 1t was very dull in the afternoon and
closed with a loss of ], Lackawanna is I'M
changed after fluctuations of Il per cent, while
Delaware & Hudson is per cent. lower. Read
ing shows loss of II. The grangers were quiet
and featureless., Northwestern closing with a
loss of and St Paul 3. while Omaha common is
down and preferred Il.
The market closed with the following prices
bid