The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-26
CONDITION OF THE MARKETS
Wheat Closes at the Lowest Prices Cur
rent During the Month of October,
And the Leading Options Are More than Five
Cents Lower than One Week Ago-In-
creased Weakness in Provisions.
MONEY, BONDS AND STOCKS.


Enormous Transactions in Railway Bonds
Stocks Active and Strong.
NEW YORR, Oct. 24-Money on call was
easy at II a 3 per cent
Prime mercantile paper, 405 per cent
Foreign exchange was quiet at "a. S3a for sixty
days, and "a. e54 for demand.
The total sales of stocks to-day were 1879
shares, including the following: Delaware, Lack
swanna & Western, 16. 965; Erie, 43, 26o; Kansas
q Texas, s.075; Lake Shore, 48,a4S; Northwest
ern, 4,26S; New York Central, 1885; Ohio
Central, 16. 600; Peoria, Decatur & Evansville,
:, 1900; Reading. 25. 16o; St Paul, So, 900; Texas
Pacific, $500; Union Pacific, 6,620; Western
Union, 20, 260; Northern Pacific preferred, 49,
1913; Oregon & Transcontinental, l3,417.
Government bonds were dull and strong.
State bonds were active and firm.
The feature of to-day's active railway bond
market was the enormous trading, especially
during the forenoon, in Erie second consols:
they opened : per cent. higher, at S2!!, advanced
to s42, but yielded in the afternoon to 83ss, and
closed / higher, with a net gain of q per cent,
and with sales of So, 1863, 900. This was the last
day for registering the bonds for voting
to-day, except those purchased for cash, are not
deliverable until Monday. it does not appear that
the speculation and the strength were the out
growth of a desire 30 use the bonds for such
especially in the afternoon. The total sales of
all bonds amounted to So, 051, 900. The total sales
of bonds for the week were $29, 342, 900, the larg-
est amount for one week in years.
The stock market was decidedly active and
strong during the forenoon, but became more
quiet and at first steady, and later weak, and so
continued. The trading amounted to 450, 327
shares. The sales of ST. Paul, Lake Shore and
Erie, amounted to over 30 per cent. of the days
business, the transactions ranging between 58,-
900 and 43, 260 shares. There was unusual activ-
ity in some of the low priced securities, notably
in Ohio Central, the sales of which were 16, 600
shares. Peoria. Decatur & Evansville attracted
the unexpected attention, and advanced from
182 to 20s. First prices this morning were gen
orally 30a per cent. higher than the close yes
terday, and, without any material reaction, there
was a steady upward movement, which cul-
minated between noon and i o'clock, resulting in
advances of 301a per cent. Lake Shore and st.
Paw made the latter gain; Erie advanced Is;
Cleveland, Columbus, Cincinnati & Indianapolis
u, and Northwestern, Union Pacific. and
Reading. each, l. The exceptional
gains were in Delaware and Hudson 2s, and
New York and New England q per cent The
market then remained comparatively steady
until toward 2 o'clock, when it yielded a fraction,
and in the last hour developed considerable
weakness. In some cases the previous advances
were lost, and fractions in addition. Western
Union and New York Central closed with a net
decline, as compared with yesterday, of !; Can
ada Southern, !; Central of New Jersey,
I; Reading, !; Louisville g. Nashville. II, and
Pacific Mail, /. st. Paul is up Il; Oregon Rail
way & Navigation, IL, and Delaware & Hudson,
Il. The market closed irregular but weak. Ore
gon & Transcontinental and Oregon Navigation
were exceptions to the general rule, developing
decided strength late in the day. but closing
with a decline from the highest prices.
The result of this weeks operations, compar-
ing prices now with those of a week ago, shows
smaller advances than the activity and strength
tEat prevailed during most of the time led per-
sons generally to believe. There are
exceptional gains for large amount. Oregon
Navigation advanced 5 per cent, Norfolk &
Western Al, but most of the active list is less
than 2 per cent. higher. Lake Shore, however,
is up q, and Northern Pacific preferred q.
Louisville & Nashville is down q, and Missouri
Pacific and Texas Pacific. and some others, show
declines of small fractions. The business was
the largest known on the Exchange for several
years, the sales aggregating 3, 696, $50 shares.
The market closed with the following prices
bid: