The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-10
CONDITION OF THE MARKETS.
Wheat Opens Firm atAbout the Figures
Prevailing on Tuesday Afternoon.
A Heavy Selling Movement Causes Slight
Break, Which Is Speedily Recovered
Corn and Provisions Slightly Lower.
MONEY. BONDS AND STOCKS.


Railway Bonds Very Quiet-Stocks Open Ex-
cited, but Close Steady.
NEW YORK, Dec. 9.-Monev on call was
easy at 2d3 per cent.
per cent
Foreign exchange was dull, but firm and un-
changed.
The total sales Of stocks to-day were CSC, 297
shases, including the following: Canada South
ern, SOC; Delaware Lackawanna e. Western,
IS, GAO; Delaware G. Hudson, 5, 100; Erie, 8, no;
Kansas & Texas 24,175; Lake Shore, 90, OBS;
Louisville G. Nashville, 9000 Northwestern,
q, 285; New York Central, 40, 300; Reading, g.
FAC; Pacific Mail. 1927; ST. Paul. IS, 500; Texas
Pacific, 10. 400; Union Pacific. 1886; Western
Union, 45, AIS; Northern Pacific, preferred, II,
800; Oregon & Transcontinental, 21l32
Government bonds were dull, but firm and I'M
changed, except threes, which were higher bid.
State bonds were quiet and steady. but there
was considerable activity in three or four issues.
Railway bonds were unusually quiet. The to-
tai sales were 81, 769, 900, West Shore contrib
uting 1861, 900; Texas & Pacific, Rios, 1899, 600;
Erie seconds. 1851. 900. Prices were generally
lower, but there was no heavy decline
The anxiety manifested this morning regard
ing the opening quotations of stocks has not
been exceeded In years. The death of Mr.. Van
derbilt, occurring when it did, gave brokers and
spectators time to think before its effect could
be felt on prices, and the more conservative OPP
orators exhibited marked confidence in
the market, but there were many
others hnavv
limited margins who were very nervous. There
were many orders in the board at the opening to
sell, especially the Vanderbilts; but there were
also, large orders to buy at prices not seriously
@AlSw last evenings closing: In the Lake Shore
corner the quiet and patent W VI "oHso
crowd of brokers, with orders to buy or sell, Wa,
transformed Immediately into bedlam and in
tense excitement and confusion followed the
chairmans announcement of the opening Open
ing prices ranged between So and 85s, but, at
the same time the stock was selling at all diff
ferent quotations between these figures.
The official opening quotation, however,
was IS, decline of 3 per cent. from last
evening. There was sale of 500 shares at 84as.
The bold front presented by those present with
unlimited orders to sustain the market soon
guelled the excitement and after the first half
hour although for a time business continued
active, there was excitement. In other por
tons of the Exchange room, large transactions
were made in the various active stocks, but the
excitement did not at all compare with that above
mentioned. Prices at the opening other than
Lake Shore, showed decline CT "a for New
York Central, q for Jersey Central, and Il to Il
for the remainder of the active list except Louis
vile & Nashville, which showed loss of only T.
During the first half hour the market was very
feverisn, ard its movements cratic with the
tendency downward in some cases, while
of that time more solid tone
was established, and by IL o'clock the market
was not different from many others that pre-
eeded it during the past ten days Prices by ii
o'clock were generally shade above the open
ing and business drifted rapidly into very
decided dulness At the same time there was a
very firm undertone, with a slight tendency
upward. The sales for the first hour were ex-
tremely large, amounting to 1868 shares. of
which Lake Shore contributed $4,000. The
market was absolutely without feature after II
o'clock other than dullness and strength until
late in the afternoon, when it developed re-
newed activity and moderate strength for the
general list, while Lackawanna, which opened at
1921 and slowly crept up to 125, rose rapidly, on
heavy sales, to 1913. The upward movement
was accompanied by many sharp reactions, but
they were checked, and further gains
always followed. There was then break to
1874, and the stock closed strong at 1879, gain
over last evening of 81. The remainder of the list
yielded slightly from the highest prices estab-
lished during that time, and the general market
closed steady. Prices this evening, compared
with the final figures of yesterday show a loss
Of II for Lake Shore, for Jersey Central II
for Reading, for Texas g. Pacific. and to ! for
the remainder of the active list. Northwestern
is down /. The total sales were Csc 300 shares,
an increase over yesterday of 314, 800 shares.
Lake Shore contributed $4,000, Lackawanna,
50, 600, and St Paul SO, 500. The general feeling
is of increasing confidence, although for mo-
ment faith in the future is based largely upon
belief that some of the leading operators will
furnish the support necessary to prevent further
declines as they did to-day.
The market closed with the following prices
bid:
Three pc cent bonds 1898 Louisvlle&Nashville 455