The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-14
ACTIVE AND FIRM MARKETS.
Trading in Wheat Opens with a Flat
Marketand Lower Prices All Around,
But Gloomy Crop Reports, Few Judiciously-
Placed Grasshopper Stories, and Good
Demand Cause a Revulsion.



The New York Market Irregular, but Active
and Feverish.
NEW YORK, May 13.-Money on call was easy
ut per cent
Prime mercantile paper, 4 al per cent.
Foreign exchange was quiet at "a. s6s for sixty
days, and 81 $50 for short sight
The sales of stock today aggregated 25l, 81
shares, including the following Delaware,
Eaekawanna Western 81 600; Delaware &
Hudson, 4,370; Lake Shore 1000; Louisville &
Nashville, 1890; Northwestern, 290O0 New
York Central 81, 90o St Paul. %, $50; Union Pa
eifc, 2,429
Government bonds have received some atten-
ton. There were sales of the Al per cent. regis
teren at Ills; Of the threes at HOS, and of the
tours, coupon and registered at 1918. The quo
tations show decline of for the tours, and an
advance of for the threes and for the cur
sency skies of 1895
State bonds have been very quiet, quotations
showiug decline of az per cent in Michigan
sevens, Missouri skies and North Carolina con-
soils, and an advance Of ! per cent in Rhode
Island skies.
Railroad bonds have been quite active, and
prices generally somewhat higher. The largest
business has been done in Erie seconds, new.
The stock market has been irregular but
moderately active, and at times feverish to-day,
with Lackawanna as the leading feature. The
market is growing more each day into contest
between the bulls" led by the Gould White
party, who control, in a great measure the quo
tations for Union Pacific, Western Union,
Missouri Pacific. and the grangers and
the leading bear operators whose most direct
attack has been against the Vanderbilts until to.
day, when they also sold Lackawanna heavily
The street was well supplied with rumors, in
Guiding q statement from the West that the
Nickel plate was making a 16-cent rate on pro-
visions from Chicago to New York; that gold
shipments to Europe had already begun, and
trouble had again broken out between Chicago
and Missouri river points The different
stocks that make up the active list were so
erratic that description of the market can
hardly be given without taking up the list seri-
atm The sales for the day were 25l, 81 shares
OF which Lackawanna alone contributes 81 600
The sales of four other stocks-New York Cen
trail, Northwestern, Union Pacific and St Paul
added So 900 shares to the days business, leaving
only about 81, 600 shares to be divided among
the other stocks traded in. During the forenoon
Lackawanna sold down from 1887 to 10l3, but
rallied later in the day, selling in the last hour
at 1929 and closing at l02!-a loss of per cent
Delaware & Hudson moved about without any
regard for the rest of the market, selling early
close, which is a gain of per cent, With the
exception of Lackawanna, New York Central
was the weakest active stock; in the forenoon it
fell to 822 selling at the same time at 81, seller
sixty days In the last hour and half it developed
moderate amount of strength, and closed at
S32c, which is a loss of only per cent. The
grangers and the Gould stocks yielded frac-
tioG in the forenoon, were steady until late in
afternoon, and then rallied at the close West
ern Union is down. /, Pacific Mail !! and North
western I, while st. Paul is up T. Missouri
Pacific /, and Union Pacific and Missouri Kan
sas g. Texas unchanged. Lake Shore did not
sympathize to-day with the weakness in New
York Central, but was strong throughout the
day at So and a fraction above. except a few sales
at the opening the stock finally closing with
gain of per cent 1t is stated that the move
ment to pay off the floating debt of the
Union Pacific is now under way, and
will probably be carried out before July /. 1t is
also stated that the company's earnings are be-
tween 6 and per cent. per annum on its stock.
The report nom London that the Oregon IL
california railroad ns to be consolidated with the
Central Pacific system - confirmed here today.
The arrangement is virtuarry purchase OF the
former by the latter the stock or oSe being ex-
changed for the outstanding stock OF the other,
on terms not yet made known and perhaps, not
definitely agreed upon. New bonds of the Cen
sral are to be issued in lieu of the present de-
fauted Oregon bonds. THIS admits the Central
Pacific into Oregon. and besides putting il on an
equal footing with other lines as to Oregon and
and south line from the British Columbia from
tier to the Gulf of Mexico
The market closed with the following prices