The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-17
AN ACTIVE WHEAT MARKET.
The Sales Heavier than on Any Day for
Many Weeks, but Prices Lower.
Corn also LOwer-The Feeling in Provisions
Easier and Prices Lower. the Mar
ket Closing Steady.
MONEY AND STOCKS.

Another Active Day the Stock Exchange
The Upward Movement Checked.
NEW YORK, July l6-Money call was
easy at per cent.
Prime mercantile paper 475 per cent
Foreign exchange quiet at 81 64 for sixty days
and 81. So for demand.
The total stock sales to-day were 351 s54
shares, including Delaware, Lackawanna 81
Western, 30 $40; Kansas & Texas. 1926 Lake
Shore, 66 995; Louisville & Nashville, 26690
Northwestern, %, 425; New Jersey Central, 200;
New York Central AZ, 145; Pacific Mail, $50;
ST. Paul, 1926 Texas Pacific, $50; Union
Pacific, 10, 400; Western Union, 49, TIC.
Government bonds quiet and strong. es-
pecially the tours.
State bonds have been quiet, and quotations
steady.
The sales Of railroad bonds to-day amounted to
g. log, 900, of which ST. 430 900 were Erie second
eonsols, and 1881, 900 West Shore firsts, leaving
5000 900 tor the remainder of the list The
changes In the leading issues are chiefly frac-
tional.
Apparently there has been halt in the rapid
upward movement made by few Of the leading
stocks This did not occur, however, until after
the first hour today In the first thirty minutes
after the Exchange opened the reported sales
were 101 600 shares, and for the first hour 1885,,
900 shares. This undoubtedly did not include
a large number of purchases and sales
of New York Central. and Lake
Shore, owing to the great excitement
that attended the transactions in those stocks
when the crowds were SO great that at the open
ing, the stocks were selling at differences of as
much as per cent. at the same time. New
York Central, which was decidedly weak at first
rose from 94a to 9G44; and Lake Shore, which
was strong at the opening, from 66s to 67a
Lackawanna sold up from 994 to 10l; North
western from 924 to 044, and St. Paul from
76 to III. The higher quotations here men
toned were in all cases the highest of the day
and with only two three exceptions, the high
est prices for the whole list were made during
the first hour. The advance was aided by the
European war news, contained in the morning
papers, and by published statements, all
going to show that a movement
was on foot to settle the rate
war troubles. At the same time. there
was heavy selling Of the Vanderbilts and some
other securities by persons who, it is understood
represent London operators. and after the first
hour the advance was checked. After that hour
there was slow but steady reaction, during
which all the advances were lost. The market
closed heavy, but generally to per cent. above
the lowest quotations of the day. The
final prices are generally to per
cent. lower than last evening. The noteworthy
exceptions are Lake Shore, which made such
wonderful advance in the morning, and which is
Il per cent. higher this evening than it closed
yesterday. Western Union is up !, Northwest
ern preferred l. and Texas & Pacific per cent
There was unusual activity in NJ, K. & t..
which closed within per cent. of the highest
quotations of the day, and at net ad
vance of /. New York Central is
down :, Northwestern :. ST. Paul
Z, Lackawanna :, Louisville e Nashville ?, Pa
cifc Mail 3, and Union Pacific ] per cent. The
decline was accompanied by comparative dull
ness. The total sales of the day were 35l, S54
shares, a decrease, as compared with yesterday
of 123, 100. the only active stock on the
list showing an increase being Lake Shore
the sales of which were $500 shares
more than yesterday Eight stocks to day, the
usual active stocks for some time past, contribut-
ed over 80 percent. of the days business. A dis
patch was circulated late this afternoon from
President Keep, of the Northwestern, stating
that all crop reports show that small grains are
doing remarkably well, and an abundant harvest
Is promised.
The market closed with the following prices
bid: