The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-17
TRADING ON UNCERTAINTIES
Wheat Spectators Cropping in the Dark,
Owing to Contradictory Figures.
A Wide Variation in the Visible Supply as
Reported from Chicago and New York
Provisions Strong and Higher.
MONEY AND STOCKS.

Railway Bonds Active and Steady - The
Stock Market Strong.
NEW YORK, June I6-Money on call was
easy at per cent.
Prime mercantile paper, 405 per cent.
Foreign exchange was unchanged.
The total stock sales to-day were 223, 800
shares including the following: Delaware,
Lackawanna & Western, 35,300 Kansas &
Texas, 1900; Lake Shore, 1855; Louisville &
Nashville; 6, 100; Northwestern, 36,375; New
York Central, 1905; Pacific Mail, IL. COS; st.
Paul, IS, 1876; Union Pacific, IA, $50; Western
Union, IL $780,
Government bonds have been quiet but firm,
with quotations unchanged.
There has been moderate business in State
bonds, and prices for some Of the more active
shares are "a per cent HIGHER.
The railroad bond market was active and
steady, the total sales being 81, 772 900, of which
West Shore frsts contributed $678, 900 and the
Erie second consols $2150 00 The remaining
business was well distributed among the more
favored issues, aud prices are generally higher.
This has been the most active day at the Stock
Exchange during the past three weeks. The to-
tai sales 223, 641 shares; the market opened
active and strong, and the activity continued
until late in the afternoon, when the tradiHg
became more quiet again. First prices were
generally shade above the closing quotations
last evening, and, without any material reaction,
the whole list, with one or two exceptions, con-
tinued to advance until near ] p. M. In that
time the gains were from to II per cent, the
latter ST Paul; but Northwestern rose i, Lack
awanna and Omaha preferred each !, and Mis-
souri, Pacific Z. Western Union and l.. 81 N.
were less active, and gained only J, while the
Vanderbilts and Pacific Mail were little
more than steady, the extreme advances of the
morning amounting TO only 1. Union Pacific was
thu weak stock on the list, selling at only /,
above the closing price yesterday. After l P. NJ
there was steady and uninterrupted yield in
quotations. during which. in most cases. all the
early advances were lost, and fractional amounts
in addition the decline ranging from ! to Il per
cent. for the active securities, the latter North
western. Pacific Mail, Omaha preferred and
Lackawanna each lost II, New York Central
and Lake Shore each |, Louisville 81 Nashville
and Union Pacific each :. The strongest stock
on the list was ST. Paul. which failed to lose
more than about of the mornings advance.
The market closed heavy, and in most cases, at
or very near the lowest quotations
reached. The result of the days opera
tons is q net loss as compared
with last evening, for the active list Of to J,
the heaviest decline being sustained by Union
Paclie, but Pacific Mail is down Z, and Lake
Shore and St. Paul each ]. The bulls" talk of
much higher prices in the near future. The
'.bears" claim, on the other hand, that the lead
ing .bulP operators were heavy sellers of stock
this afternoon. and that for the time being the
highest prices have been reached. They admit,
however, that the abnormal ease of the money
market and the enormous supply of idle capital,
awaiting temporary investment at a very low
rate of interest tmost of the call loans being
made at a Il per cent. enable bulls" to control
prices to a very great entent
The market closed with the following prices
bid: