The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-06
WHEAT ON THE DOWN GRADE
Heavy Deliveries at Initial Points
Carry the Price Down One Cent.
Corn Strong on Reports of Damaging FrOsts
in the Northwest-The Same Influence
Strengthens the Provision Market.
MONEY. BONDS AND STOCKS.
Bonds Continue Dull-The Stock Marke
Irregular and Feverish.

Bonds Continue Dull-The Stock Market
Irregular and Feverish.
New YORK, Sept. 5.--Money on call was
easy at oil per cent
Prime mercantile paper 405 per cent
Foreign exchange was dull at $483 for sixty
days, and 81 IS for demand.
The total sales of stocks to-day were us. gil
shares, including Delaware, Lackawanra &
Western, Ia, 400; Lake Shore, $4,000; Louisville
q Nashville, 4,470; Northwestern, $500; New
York Central, 9, 900; New Jersey Central, $3.50;
Pacific Mail 4125; Reading, $500; St. Paul,
$4,000; Texas Pacific, 4,308, Union Pacific. 54,-
$50; Western Union. ii, $40.
Government bonds were duh and strong.
State bonds were neglected.
There was an average business in railway
bonds. The sales were 81, 492, 600, and the trad
ing was more than usually well distributed
There were sales of 1887, 600 East Tennessee
issues, $190, 900 Texas Pacific, also 1921. ZOO of
Erie second consols.
For several days past the street has been
promised some important development in regard
to the Erie railway of favorable character
It was annoudced this afternoon that con-
tract had been signed between the Erie and
Cleveland, Columbus, Cincinnati g. Indianapolis
giving the Eric company entrance into Cincin~
natl over that route. Erie is to give, it is
understood its business to the c., c., G. 81 /. at
Dayton.
The stock market was dull, somewhat irregu-
lar and more or less feverish. There weak
opening, the first prices being from to lower
than they closed yesterday, and during the last
half hour there was a further decline of to in
most of the active stocks, while c., B. & O., in
which there was unusual amount of business
done, fell II. The decline was then
checked, and the market became very dull until
an upward movement carried prices back to the
opening, by P. NJ
Union Pacific again led in the amount of
business done, the sales amounting to over 80
per cent. of the total days business, and this
stock closed absge the lowest price of
the day, and lower than yesterday.
President Adams to-day denies that the
company is in trouble on account of the floating
debt He is quoted as saying that the notes i'm
mediatey maturing are all small, and after
meeting its September fixed charges, the com
pany has 81, DOC, 900 in cash. At no time since
he became president, he says, has the financial
condition of the company been more easy Or it's
outlook more favorable.
Jersey Central was prominent for its weak
ness at the opening but it was very dull all day,
at little above AZ, until p. NJ, but in the next
half hour declined to "A, and closed with loss
of per cent The Vanderbilts were weak, both
New York Central and Lake Shore showing
loss Of per cent. st. Paul, and Louisville &
Nashville are also down :, and Manitoba II.
One of the more prominent exceptions to the
general course of the market was Pacific Mail,
which, in the morning. rose from 49a to 81.
Later, it became steady, shade below that
price, and closed with an advance of J. Com
pairing prices this evening with those of week
ago, most of the stocks on the active
list are lower, Jersey Central showing the great
est decline-4i. Reading is down 80: others are
far less than per cent, and the gains, where
they occur, are for fractional amounts The
total sales for the week were ,3l3,00 shares, of
which Union Pacific contributed 1856. 700 shares;
St. Paul 136, 200, Lake Shore 143, 100, North
western. l09, 100 and Western Union SO. 400
shares.
The market closed with the following prices