The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-30
CONDITION OF THE MARKETS,
Wheat Continues to Decline, and the
Trading SWells to Vast Proportions.
Signs of Strength Crop Out Now and Then,
but They Are Speedily Overcome by
Heavy Offerings Of Grain.
MONEY. BONDS AND STOCKS.

Small Transactions in Railway Bonds-The
Stock Market Dull but Strong.
NEW YORK, Nov. 2s.-Money on call was easy at
2a3 per cent.
Prime mercantile paper was in demand at 4l905ls
per cent.
Foreign exchange was unchanged.
The total sales of stocks to-day were 300, 247 shares,
including the following: Delaware, Lackawanna &
Western, 13, 56s; Erie, 8, 165; Kansas & Texas, &c.
245; Lake Shore, 1885; Northwestern, 1925;
New Jersey Central, 1850; New York Central,
e,815; Northern Pacific. a. 1857; Pacific Mail, 1000;
st. Paul, 35,475, Texas Pacific, Is, ITO; Union Pa
eifc, $500; Western Union, 1898, Northern Pa
cifc preferred, 28, 718; Oregon & Transeontinental
81, 937.
Government bonds were dull and strong.
State bonds were fairly active and steady.
There was a welldistributed business in railway
bonds, but generally in small amounts, and the total
sales foot up only So, 791 600. The only issues that
could be called at all active were Erie seconds. In the
morning there was a squirt of activity in East Tennes-
see bonds, hves, and st. Louis & San Francisco gen
sral mortgages. The result of the days operations is
an advance in most cases for fractional amounts. The
bond market has been inactive ana has sympathized
this week with the stock market. The sales have
amounted to $17. 1858, 600, against $32, 300, 900 last
week. The market, especially for the investment
ISSUES, tAulDllGu HIlHu T6uBt buEOuAIpuI
the week.
Dizziness, accompanied by a strong undertone, was
the prevailing feature of to-day's stock market. The
total sales were only 300. zoo shares. The largest
business was done in st. Paul, Northern Pacific pre-
ferred, Lake Shore, NJ, k. & II. and o. T. Prices
were somewhat irregular at the opening, ranging be-
tween an advance of Is and a decline of an equal
amount, with exceptional weaknesses in one or two
stocks. In the early dealings there was a further
fractional decline in some cases. but the lowest prices
of the day were made either at the opening or during
The first half-hour, during which, also, one-fourth of the
days business was done. This wasfolowed by a rally
of q to over l per cent, accompanied by limited trad
ing. tho highest prices of the day being reached in
most cases shortly before midday or early in the af-
ternoon. A small decline, which eliminated by 2
o'clock, was succeeded by a firm tone. The final
transactions, however, were made generally on slight
reactions from the best figures, and the market closed
heavy. The exceptions to the general rule were in
the Northern Pacifics and their associates. Oregon 81
Transcontinental and Oregon Navigation, which
more active stocks showed advances this evening, as
compared with yesterday, of 1e05 Sc, while there were
exceptional gains of 1@1la per cent. Northern Pa
cife preferred showed an advance of 1lo, and Oregon
Navigation 13a. while Northern Pacific common, and
Richmond & West Point are up / each. The declines
include such stocks as L., b. & W., lie; Texas & Pa
eifc, and NJ, K. ct, each, 1aa; Reading and Manhat-
IAN common, III; Louisville & Nashville. and Della
ware Sc Hudson. each, 1e. It was stated that the
strength in Northern Pacific preferred was due to a
report that the land sales already made
and under negotiation have been sufficient to retire
nearly So, o 5000 of the preferred stock. The rally
in the forenoon was led by the Vanderbilts, and sue
ceeded a report that the New York Central and the
Syracuse parties who have sought to prevent the com.
Pany from leasing the West Shore had made a salts
factory settlement. Nothing definite in regard to this
matter, however, was known before the close of the
Exchange. The lowest prices were generally made
on Monday, and the highest on Tuesday or Wednes-
day, the active stocks being about equally divided be-
tween small advances and eqally small declines.
The market closed with the following prices bid: