The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-08-12
WHEAT is DULL AND LOWER,
And There Is a Total Absence of Any
thing Like Speculative Inquiry.
Corn Opens Strong, but Closes Weak, in
Sympathy With the Dullness in Wheat
Oats Dull and Easier.
MONEY AND STOCKS.

The Stock Market Closes Weak, at the Lowest
Figures of the Day.
New YORK Aug IL-Money On call easy at
Rper cent.
Prime mercantile paper 4 as per cent
Foreign exchange dull and unchanged
The total sales of stocks to-day were 33S, 959
shares, including Delaware Lackawanna &
Western. a.. 70S; Denver & Rio Grande, 5000;
Erie, 10, 800; Kansas & Texas, 1880; Lake Shore
1919: Louisville & Nashville, IL, $40: North
western, % GEO. New Jersey Central, 2040 New
York Central, 1879; Pacific Mail, 1906; St
Paul, 81 1906 Texas Pacific, 5000; Western
Union, 81, 957; Northern Pacific preferred, 4,9l1;
Oregon Transcontinental, 9,210.
Government bonds have been strong for all
except the four and one half per cents, which
were heavy. There was only moderate bust
ness.
State bonds have received some attention and
quotations generally steady.
Railroad bonds have been active and strong.
The total sales were So. 1O5, O00 Erie second con-
sois contributing $670, 600, and the West Shore
hrsts 1920, 900 leaving $l,109000 for the re
mainder of the list
The stock market was weak at the opening of
the Exchange this morning, led by the Western
Union which broke on the statement published
by the president of the Baltimore & Ohio :,
to the effect that there was no truth
IN the reported negotiations for a work
ing arrangement consolidation between
that company and Western Union. This was
soon followed, however, by reaction, in which
Western Union, Lake Shore and the grangers
took the lead The highest prices of the day
were, with few exceptions. made in the morning,
but the gain over yesterdays best figures were
for only small fractions in some cases and moth
ing in others. Prices began to yield shortly
before midday, and the market continued mod
erately active and weak throughout the after
noon Some stocks yielded slowly. but without
reaction, until the last hour when they became
comparatively steady and continued SO
persistently weak to the end. In
the last hour New York Central, which had sold
down from SO to 974. was decidedly feversh.
breaking quickly to 964 from which it rallied
to 97aa, sold at 96a, and back to 81, at which it
closed The prominent exceptions to the gen
eral rule were Lackawanna Delaware& Hudson
and New Jersey Central Early in the after
noon, when the general list was slowly declin-
ins, the stocks mentioned became active and
strong, and there was manifestly determined
effort to stop the break by supporting those
which were the only weak stocks yesterday.
Between noon and little after o'clock New
Jersey Central rose from 4sa to 90,
ware & Hudson from sOi to 81,
the highest prices of the day in each case. This
support was, however, of no avail upon the rest
of the list. and in the last hour the stocks men
toned joined in the downward movement.
Shortly before the close there was reaction of
to per cent in many Of the active stocks, but
the slight gains were lost in many cases in the
final sales, and the market closed barely steady
at or near the lowest quotations of the day for
the most of the list. Northwestern
displayed some resistance to the down
ward movement in the last hour, and
closed above the lowest figure, while the
coal shares are : to higher than their lowest
quotations of the day Western Union was es-
pecially weak in the afternoon and closed with
net loss of p per cent. 1t said the recent ad-
vance in Fort Worth and Denver securities was
on an effort to pick up the stock for the purpose
Of securing control. Union Pacific was decided
ly weak in the afternoon. and closed with loss
Of / per cent. The Northern Pacifcs dull
and heavy, and Oregon Transcontinental more
active and lower. losing 7 per cent. Other
changes were for smaller fractions, but nearly
everything OF the list is lower The total sales
were $685. $50 shares increase over yesterday
of 6. 700 shares.
The market closed with the following prices
hid.