The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-09
THE COUNTRY'S MARKETS,
4 More than Usually Active Day on the
New York Stock Exchange.
The Markets for Wheat and Corn Rule
Strong Throughout the Day, and
Close With an Advance.
MONEY AND STOCKS.

The Stock Market Acss:e and Excited-The
Crangers Strong. but the vanderbiIts Weak.
NEW York, May 8.-Money on call was easy
80 per cent
Prime mercantile paper IA 5 per cent.
Foreign exchange dull at $4.s6a for long and
4ss! for short sight.
Government bonds are dull and without change
fn quotations. except decline of sc in the four
per-cents and an advance Of &c in the threeper-
cents.
There was sale of South Carolina six-per-cents,
consolidated, at SLOT.
The stock market has been decidedly more
active today, and, while somewhat irregular
end at times feverish, has exhibited great deal
Of strength, the result of the days operations
showing decided gains over last evening. The
street has been unusually well supplied through
out the day with rumors of extremely varying
nature. The following was issued: ANY
report of an amicable adjustment
Of the differences between the rail
roads is cheap talk, and emanates from
the gentry who are using every endeavor to
bolster and unload. Nothing is known here of
the final issue, and you may depend upon it that
reports to the contrary are lies" Dispatches
similar to this were many during the business
portion Of the day, Just before the close of the
board it was announced that the meeting had
adjourned, and that, while some advance had
been made in the negotiations. nothing had
really been done, and the outlook was not inn
proved as compared with yesterday. A prom
inent feature of the early dealings was the
strength developed in the grangers, accompanied
by the statement that the buying orders
emanated principally from Chicago, and this was
interpreted as indicating that the railroad
troubles were on the eve OF settlement
At the same time the. Vanderbilts
were weak, and both New York Central and
Lake Shore declined, while the remainder of the
list advanced The activity during the first
hour was SO great that the trading amounted to
10000 shares, or more than has been traded in
60 the same hour at any time in the past two
months. After ii o'clock the market was more
quiet and prices were steadily held, with a ten
dency toward lower figures; but at o'clock
there was sharp rally, after which 1t became
dull and steady, and so continued until late in
the day. In the last half hour the whole list
became steady and advanced to per cent. for
the active stocks, the market finally closing
strong at or very near the highest quotations
reached.
The total sales were $4,000 shares, bat
St Paul contributed sc, AGO shares, and more
than half of the days business was confined
10 trading in that stock, Northwestern and New
York Central; but Lake Shore, Union Pacific
and Lackawanna were also active ST. Paul
opened down per cent, at 66a, but quickly ao
vanced to G75, then fell to 66s, and in the fore
noon rose to 6sk It did not again sell below
67s, and before o'clock rose to 6ss. In the last
hour it touched 664, and then rose to &c. closing
finally at 6Ss-a gain of Il per cent Northwest
in the morning rose from 81 to 1884, sold again
touched 92a; but on the final rally reached 93s
closing at 933, which is also gain Of II. New
York Centrals first price was &c. loss of l.
and In the first hour it fell to 85s, but
sold again before noon at 86s and at S5s
In the afternoon it sold again at S53 and then
rose to 86t, and closed at Sea- net gain
of / Lake Shore fuctuated between Sig and
$751; and closed with gain of per cent, at 5344
The only active Gould stock was Union Pacific,
which rose from 49, to 49aa, gain Of L. Lacka
wanna experienced fluctuations of per cent,
with the opening the lowest and the closing the
highest of the day. at 104. Other advances
were for smaller fractions than those quoted
It is claimed this evening that, while the meet
ing at Chicago adjourned without settlement
of their troubles the heavy buying of granger
stocks by Chicago houses indicated that settle
ment is near at hand, and with this question out
Of the way the market should advance. A gen.
Sral movement in the securities of the South
western roads is promised at an early day, based
upon the improvement in the business Of those
roads.
Thore was fairly well distributed business in
railway bonds, while trading in Erie seconds,
new, was unusually large. The total sales for
seconds, new contributed $1093 000 leaving
e48 900 to be distributed among the other issues
bought and sold The Erie seconds, new, were
weak at the opening, showing decline OF Il per
cent at 5iI, but they rallied to 52a in the fore
noon, and later to So, sold again at 52s, and
closed with net advance of per cent, at 53s.
Among the other advances, Central of New
Jersey firsts convertible assented, are up !, at
1903; ST Paul frsts, Chicago and Milwaukee divis-
ion, 3, at 1870; and the Wisconsin and Minnesota
division tives !, at 94ss; Chicago & milwaukee
hrsts e, at 1857; Chicago, st. Paul. Milwaukee
g Omaha consolidated skies, l. at Ii; New York,
Lackawanna 81 Western frsts, Ii, at l22; Den
yer e Rio Grande irsts :, at 98 Missouri, Kan
sas s. Texas, general, fves, g. at $685. Nashville,
Chattanooga & ST Louis frsts Z, at 12l;
Kansas Pacific frsts, consolidated, I, at 96a;
st. Paul. M. 81 NJ, Dakota extension, SKIES, i, at
Ill; Rome, WATERFOWL & Ogdensburg consol
extension fives II, at III, and Atlantic q Pacific,
Western division incomes, !, at 1864, and the
firsts |. at III. The Chesapeake e Ohio skies,
series r. coupon off. are down l. at $751; Lchigh
q Wilkesbarre consolidated assented bonds /, AT
So; St Paul consolidated fves ], at ia; Louis
vile, New Albany & Chicago frsts l, at 80; New
York Central Hudson frsts. registered. II. al
l343; Midland of New Jersey first /, at "a; Ore
gon & Transcontinental skies II, at 68a; Central
Pacific, San Juan branch SKIES II. at 1O3; Union
Pacific sinking fund Fights ii, at l18a, and Mu
tual Union Telegraph skies ], at 663
The sales of stocks to-day aggregated 317 62f
shares including: Delaware, Lackawanna and
Western, e. 947; Erie, $3.50; Lake Shore, 36, 945
Northwestern. 81, $50; New Jersey Central, A. 235
New York Central, $4,000; Pacific Mail, 7,735
ST. Paul, so 400; Union Pacific, 26, $50; Western
Union s. 1885, Northern Pacific preferred, A. 600
The market closed with the following prices
bid:
Three per cent bonds. ioss Lake Shore. ssa
United States AS. .l2as Louisville Nashville JO7
United States new 4s.l2 L.. N. A. C.......... ~
Pacific 6s of SO ... l27a Mar. Gin. frsts pref
Central Pacific irgts liza Mar. Gin. seconds
Erie seconds .......s 53s Mem. q Charleston. 90
Tehigh& W'k'be. Us Michigan Central...-.... ar
Louisiana Ccnsols..... "A Mimi. AZ st. Louis IL
Missouri 6s. ....... 1863 MINI. st. L. prefd. 25l
St. Joe ..........ll6 Missouri Pacific. 94A
Sc. p. & s. q. frsts.. ll74 Mobile Ohio.
Tennessee S. old .. As Morris 4 Essex ....... 1921
Tennessee 6s IS Nashville Il Chat....... 50
Texas Pac I'D grants 337A New Jersey Central. So