The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-17
CONDITION OF THE MARKETS.
Wheat Opens Weak and Depressed,
with Holders Very Anxious to Sell.
Heavy Buying Finally Results in Slight Ad-
vance and a Strong Closing-Provisions
Quiet and Unchanged.
MONEY. BONDS AND STOCKS.

NununueO ACTIVITY In Railway BOnds-SCOcks
Open Buoyant and Close Steady.
NEW YORK, Oct 16.-Monev on call was
sassy at II az per cent
Prime mercantile paper, 405 per cent
Foreign exchange was quiet $4S4 for sixty
Gays, and 81. s5s for demand.
The total sales of stocks to-day were 4S2, 656
shares, including the following: Central Pacific,
I'll, $50; Delaware, Lackawanna e. Western, 65,
432; Erie, 62, 065; Kansas & Texas 10,S $40; Lake
Shore. 1916; Louisville 6 Nashville, 5.40O;
Northwestern A, 30l; New Jersey Central, I, 900;
ferred. a. 40; Reading, 1850; st. Paul. SO, 825;
Union Pacific, %, 555; Western Union, SO. 975;
Oregon & Transcontinental, 1920.
Government bonds were quiet and steady.
State bonds were active and strong.
Railway bonds continue extremely active
The sales to-day were larger than on any pre-
eeding day this year, amounting to 81, 81, O00
Erie second consos contributed 81 Gil, 600 closing
with net gain of Il per cent. Trading in
Atlantic g. Pacific issues amounted to 1864 000
The sales of Denver 81 Rio Grande issues
amounted to 1888, 900. 1t is stated that the
holders of over So, 400 900 of the Denver & Rio
two days, requested prominent representatives
in Wall street to reorganize the road, on the
strength of which committee has been formed
plan is to be prepared and submitted without
delay. The feverish and unsettled condition of
the market during the past few days is attrib-
uted to the diverse interests of the various pools
which were formed some time ago. These pools
cover large number of stocks They all
worked together for an advance in prices till
some of them were enabled to unload at salts
&nAA knrn svt4 ~, 1.
came favorable to reaction. while others who
have been less fortunate still want to peg prices
higher.
At the opening of the Stock Exchange this
morning the market was bnoyant. first prices
showing an advance in almost every instance of
30s per cent Central Pacific showed gain of
] and Lackawanna of Z per cent. Western
Union, Union Pacific and Northern Pacific were
unchanged, and Pacific Mail was lower. In
the early dealings there were further fractional
advances for most of the active list, the gains
ranging all the way from to per cent, while
Lackawanna rose Il This was followed by a
reaction, during which the early gains were lost,
and generally small fractions in addition. In
other cases. however, the lowest prices of the
day We're made at the opening, including Pacific
Mail, New York Genital, North western and Jer-
sey Central. A strong bull movement was
started about midday, which continued after
o'clock, and during which there was a general
advance of to over per cent. This fol-
lowed by another reaction and then a
comparatively steady, dull and firm mar
ket to the close. The final prices are
generally 30S per cent. below the
best figures of the day. and from to over l per
cent. better than the closing quotations yester-
day. The active stocks were Lackawanna, Erie.
Northwestern, Western Union, ST. Paul and
Lake Shore. in the order named, with sales OF
between 65. 430 and 80. 3l5 shares, and with a
total for the six stocks mentioned of 80 per cent
of the days business. Lackawanna rose in the
forenoon % per cent. and closed with net gain,
as compared with yesterday, of II; Jersey Cen
trail made net gain of III Among the crangers.
ST. Paul shows an advance of l. and Northwest
ern III Omaha common, !, and Manitoba per
cent The Vanderbilts were strong; New York
Central gained l. and Lake Shore per cent.
Erie. which was the second active stock. closed
at the highest price of the day, with gain of
II. Oregon Navigation shows gain of !:
Northern Pacific preferred equal amount and
Central Pacific Is Other gains are fractional.
but all are higher, except Canada Southern,
which shows loss of f.
The market closed with the following prices
bid: