The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-28
WHEAT RECEDES A TRIFLE.
The Bears Break Through the Ninety
Cents Barricade at Last.
Corn Maintains It's Firmness in Spite of the
Weakness in the Wheat Market
Oats More Active and Higher.
MONEY AND STOCKS.

The Market Closes with Well Sustained
Upward Movement.
New YORK, July 27.-Money call was easy
ut ii per cent.
Prime mercantile paper, 4 as per cent
Foreign exchange quiet at 81. So for sixty days
and 81. S64 for demand.
The total sales of stocks to-day were 345, 284
shares, including Delaware, Lackawanna
& Western, 25, 800; Kansas & Texas, 7,460;
louisville & Nashville, 1885, Lake Shore
40,245; Northwestern, %, 1913; New Jersey Cen
trail, $500; New York Central, a. $780, Pacific
Mail, 1910; St Paul, 68,679; Union Pacific, GO,
go; Western Union, &C. 1885, Northern Pacific pre-
ferred, 4, 1850; Oregon Transcontinental, 1896.
Government bonds have been dull and strong
State bonds have been dull and steady
The railroad bond market has again been dull
to-day, with the exception Of West Shore frsts.
the transactions in which were 81, oil, 900. The
bonds were heavy at the opening at 425, but late
In the day, reports of a settlement with New
York Central, rose to A. but closed finally at
49,. The sales of Erie second consols were
1892 O00 leaving $668. 900 to be divided among
other issues. In many cases prices are lower
but the declines are generally tor only fractional
amounts
The stock market has been moderately active
today, the total sales amounting to 343 284
shares; but seven stocks, with sales ranging from
Is, 400 to g. 700 shares each, contributed nearly
SO per cent. of the days business The most
active stocks, in the order mentioned, were ST.
Paul, Union Pacific, Lake Shore. New York
Central, Western Union, Lackawanna and
Northwestern. At the opening prices were weak,
and in the early dealings there were further
declines in some stocks, notably Lackawanna,
Union Pacific and Central, Of New Jersey, while
the Vanderbilts and Northwestern were promi-
nent for their strength There a
reaction in the general list, followed By another
decline, and then in the last hour decided up
ward movement, which for some stocks was
maintained to the end. The result of the days
operations is a net advance of IL for New York
Central, Il for Lake Shore and Louisville &
Nashville, and Ii for Lackawanna, while others
rose less than per cent There was decline
In Western Union of j, Union Pacific J. st. Paul
4, Michigan Central !, and Omaha preferred .
G., B. & @. is also down :. Lackawanna was
exceptionally feverish all day; after opening
4 lower, at 50, it declined quickly to 98t, rallied
to 99a, sold again at 9844, and back to 999 in
the first hour. In the afternoon. before O'Clock,
it was comparatively quiet, but sold from 50
down to 50, and back to 49, Soon after o'clock
1t jumped, without any intervening sales from
49, to 10O broke quickly again to 99i. rallied to
100, sold at 99s, and in the final dealings de-
of the day. 1907. Union Pacific was
lower at the opening at 46a, sold down to 454
and back to 46s, and after midday reached its
lowest price-45. In the last hour it sold from
46 to 4544. back to 49, and again at 46, and then
up to 47a, closing at 46E. Lake Shore was strong
nearly all day, touching its lowest point on
slight reaction in the afternoon, but advancing
from that p per cent, to Co., and closing Slower
at SO. Northwestern was also notably strong in
the forenoon, selling up Is per cent, but it de-
elined II per cent after midday, most of which
was recovered in the last hour.
1t was known shortly before o'clock that one
Of the leading banking houses of the city had
sent circular to the holders of West Shore
bonds, making proposal for the lease of the
West Shore 10 the New York Central road, and
this may have had some effect upon the strength
displayed late in the day.
The market closed with the following prices
bid: