The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-20
STEADY PRICES FOR WHEAT.
The Market Opens Active and Strong,
and Closes Steady and a Little Lower.
Corn Opens Firm, but Closes About One Cent
Below Thursdays Prices-ProvisiOns
Slow Of Sale, but Firm.
MONEY AND STOCKS.


Large Demand for Railway Bonds-Better
Prices Expected for Stocks.
New YORK, June 19.-Money on cali was
sasy at per cent
Prime mercantile paper, as per cent
Foreign exchange was quiet and steady at
&4S53 for sixty days. end 81 So for demand
The total sales of stock to-day were 1851
shares, including the following: Central Pacific,
3,2S0; Delaware Lackawanna & Western, IL,
$40; Lake Shore, &c, O55; Louisville & Nashville,
6050; Michigan Central. 1925; Northwestern,
6,720; New Jersey Central $500; New York
Central, 21,005; Pacific Mail. GAS; st. Paul,
26,6lO; Western Union, 1920; Union Pacific,
1885; Northern Pacific preferred, 1862.
Government bonds are quiet and steady, ex-
eept further decline of / in the threes.
State bonds are about steady on little bust
ness.
The demand for good railroad bonds continues
very large The transactions in this class of
securities to-day were larger than on any pre-
vious day during the current year, the sales
amounting to So, 164, 500. West Shore firsts con-
tributed $685., 00e, and Erie second consols 1924,
900, and there was left 81, 800 600 to be divided
j
one of which was particularly active. Prices
are generally higher, and in some cases mate
rally so. Galveston, Harrisburg & San Antonio
frsts are up 4; Green Bay, Winona & st. Paul
frsts Z; Houston e. Texas Central frsts, ST;
Louisville, Nashville & Chicago frsts 3; Central
Pacific land grant skies, 1; Western Pacific
skies, q Richmond & Danville sixes Ii; Texas
& New Orleans, Sabine division, frsts, q Toledo,
Peoria & Western irsts, /; Peoria, Decatur e.
Evansville incomes, l. Among the bonds that
are lower are Denver & Rio Grande frsts ];
Indiana, Bloomington q Western firsts, l, ex.
interest; Wabash Chicago division fves, Al.
The feature of to-dav's stock market has been
the great strength displayed by the Vanderbilts.
The market was also unusually active during
the forenoon, the sales for the first two hours
amounting to 106, 600 shares. and the business
was, as a rule, we'll distributed, in small lots
AS the day wore on the market assumed more
quiet tone. aud before the close of the board
became dull The total sales from noon to 2 p.
n. were limited to 1000 shares The market
was steady at the opening, and in many cases ii
yielded fraction in the first quarter of an hour,
Mt which time the lowest prices of the day were
made This small break was soon followed by a
reaction. however, which continued until noon,
when the highest prices were reached, the ad
vance ranging from az per cent In the next
two hours prices yielded more than half the early
by some increase in business. and by better
tone of the whole market, during which por-
ton of the late losses were recovered The
final quotations are generally to per cent.
below the prices reached about midday, but
from & to L. per cent. higher than they closed
yesterday. In the afternoon Lake Shore
and Pacific Mail were prominent for their
strength while Louisville e. Nashville sold
down to the lowest prices of the fore
noon. Lake Shore is up Il, and New York
Central Ii. Northwestern was notable for it's
unusual dizziness, aud although closing near the
highest price for the day, it is up only per
cent. on three times as much business St Paul
made net gain of per cent. The fluctuations
in Lackawanna were within range of l per
cent, the final gain being 8 per cent. There
Is a growing belief on the street that
the movement in the past few days in the Van
derblts is due TO purchases for account of Mr..
Vanderbilt and his associates, and as the market
continues to show great strength, the belief that
the upward movement has. in fact, only begun,
and that much higher quotations will be reached
during the summer, Is gradually spreading.
There has been some talk to-day of a combina-
ton beta III the Pennsy lvania railroad and New
York Central The scheme, 1t is said is for the
Pennsylvania to secure control of the West
Shore and then trade it to the New York Cen
trail for the South Pennsylvania and GER
tain interests in the Reading road, and
thus form strong offensive and defensive
alliance against the other trunk lines. 1t is also
said Mr.. Gould will favor this system. 1t is be-
leved by some persons that the strength in New
York Central is cue to purchases necessary to
carry cut these plans. On sales of 3, 226 shares,
Michigan Central rose from 81! to %, but closed
at 53s The strength of Jersey Central is due
largely to the probability that the b. 81 o. will
soon have direct connection over that road to
this city.
The market closed with the following prices
bid: