The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-17
A BAD DAY FOR THE BEARS.
The Market Opens Weak, but Develops
Strength and Closes Very Strong.
Fhe Bears" Make an Unsuccessful Raid ..and
Sharp Advance Results-Proyis-
ions Very Quiet but Steady.
MONEY, BONDS AND STOCKS.
Increased Activity in Railway Bonds-Th
Stock Market Generally Strong.

Increased Activity in Railway Bonds-The
Stock Market Generally Strong.
NEW YORK, Sept. 16.-Money on call was
easy at 013 per cent
Prime mercantile paper, 4a5 per cent.
Foreign exchange was quiet and unchanged.
The total sales of stock to-day were 26l, 664
shares, including the following: Delaware,
Lackawanna & Western, 16406 Kansas &
Texas, 1920; Lake Shore, 2o.6S5 Louisville 6
Nashville, 1920; Northwestern, 1904; New Jer
York Central, 10000; Northern Pacific 3, 80;
Eorther Pacific preferred, 1921; Pacific Mail,
1888; Reading, 5,l55; St Paul, 3o,9l5; ST. Paul
& Omaha, $500; Texas Pacific, 80 $50; Union
Pacific, IL, 985; Western Union, S,645; Oregon &
Transcontinental, 3,240.
Government bonds are dull and firm.
State bonds have been neglected.
The railroad bond market was more than
usually active to-day, the sales amounting to
q, $780, 900, and the business well distributed.
Erie second consols were traded in to the extent
of 1902, 000 Prices to night are generally higher.
The stock market has been more active and
st.c.c The sr,as were 26l f64 shares, an in
a::33ase over yesterday of A, 700 shares: At the
opening the market was irregular, and so con
tinued for time The lowest prices of
Bhe DAY were generally Induo elther eAoIIly
after the opening, or between that time
and midday, and without any material reaction
there was slow upward movement till near the
close. Some feverishness was again shown in
the final dealings, but the market closed strong
for nearly every thing on the list A prominent
feature in the days business was the trading
in Missouri, Kansas & Texas and Texas Pacific,
both of which made decided advances. There
was no news Of Importance in regard to the con
dition of either company. The transactions in the
two stocks, however, amounted to over 20 per
cent. of the days business, and after
opening at the lowest they closed
within ! of the highest price of the day, with a
gain OF IL for Missouri Kansas & Texas and i
for Texas Pacific. There was moderate bust
ness in St. Paul. which shows net advance of
It. Lake Shore closed at the highest price of
the day, with an advance of per cent, and New
York Central with gain of J. Northern Pacific
shows an advance of T. Among the coal stocks
Reading is up II; Lackawanna J, and Central,
Of New Jersey. per cent. Nearly everything
else on the active list made gains of small frac-
tons.
companies admitted that the coal
trade is steadily growing worse.
and while there is a fair demand it is not nearly
squal to tho supply. The official statement of
the production for the month of August shows
that the output of the mines was over :, 900, 900
toms, and at the end of August it was in excess
of the allotment to that time, as agreed upon last
winter.
Pacific Mail has been weak for the past two
days, and closed on light business with a loss
Of per cent attributed to rumors that the com
pany will lose the allowance paid it by the Pa
ciic railroads for the maintenance of rates, if
the Transcontinentai Association fails to come
TO an understanding.
The market closed with the following prices
hid.