The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-24
CONDITION OF THE MARKETS.
Dltside Influences Favor the SPEARS
and Cause Decline in Wheat.
The Market, However, Receivers and CLOSES
with Strong Feeling-Corn and Proyi-
sions Follow in the Track of Wheat.
MONEY. BONDS AND STOCKS.

Continued Activity in Railway Bonds-An
Important Break in Stocks.
NEW YORK, Nov. 23-Most of the loans of
money on call was made at % 63 per cent, but
there was squirt to per cent, closing at q
Prime mercantile paper, Al 053 per cent.
Foreign exchange was dull at 81. s24 for sixty
days and 81 84s for demand.
The total sales of stocks to-day were $780,
S25 shares, including the following: Canada
Southern, 6,275; Delaware, Laekawanna e.
Western, IS, 552; Erie AZ, 446; Kansas & Texas
57,175; Lake Shere, 200; Louisville & Nash
VILE 10000; Lake Erie & Western, 1000;
Northwestern, q, 800; New Jersey Central, &c.
735; New York Central, 80, 824; Northern Pa
eifc, 9, 720; Pacific Mail 29,sl9; Reading, 6,210;
st. Paul, 124, 100; Texas Pacific, ls,145; Union
Pacific, 20, 150; Western Union. AZ, 900; Northern
Pacific preferred, 20, 173: Oregon & Transconti-
mental 80, $40.
Government bonds were dull and steady.
State bonds were dull and weak.
There was no abatement of the activity in
railway bonds, but the business was less widely
distributed. The sales amounted to 81, 960, 900.
OF this sum Erie second consols contributed
81, $4,000 For the first time in weeks past
prices generally lower. Erie seconds lost Ii.
The most important break in the stock mar
ket that has occurred since the upward move
ment began last summer, occurred to-day. It
il important both on account of the heavy de-
cline for some of the most active shares which
amounted to 203 per cent, and because it has
come after one of the most remarka able ad-
vanees in quotations ever made in Wall street
in the same length of time. This morning
rel he'd Ir1St hafn +ba
opening of the Exchange, showed a decline of
nearly per cent. IN the leading American secur-
tiles dealt in on the foreign market. First prices
here were generally J to II per cent lower than
the closing quotations of Saturday. The great
est weakness was exhibited in Jersey Central,
Laekawanna and Reading. The early dealings
developed persistent selling Before midday
most of the active list fell from to over per
cent lower than at the opening. Afterwards.
however, there was partial recovery
from lowest figures, but this was followed by
another downward movement that continued
for nearly an hour. 1t was either at this time
or during the morning break that the lowest
prices of the day were made The changes, as
compared with Saturdays closing, amounted, in
the case of Lake Shore to A per cent New
York Central and Jersey Central were each 80
lower; Louisville & Nashville %; Reading, per
cent; Lackawanna, II, and others smaller
amounts, except some of the lower priced stocks
that have recently sprung into prominence and
that suffer materially in the reaction
Later IN the day a frmer tone was
Unmarried and material advances were es--
tablished before o'clock. The confirmation
of the rumors about an Injunction against the
New York Central however, which was pub.
Esbed late In the day. gave to the closing of the
market a feverish, unsettled and generally weak
tone. The result of the days operations is net
loss in quotations, ranging, for the active list,
between small fractions and II per cent, with
Lake Shore down q, St Paul II, New York Cen
trail. Erie, Union Pacific, Northern Pacific pre-
ferred and Pacific Mail Il; Louisville e Nash
vile Il, Missouri Pacific l, and others less than
per cent Missouri, Kansas & Texas, which
led In the early break on Saturday, was conspic-
nous for its failure to follow
the general market to day. It was
lower at the opening, but few sales were made
below the opening, and it closed at net advance
of per cent Denver & Rio Grande is up L.
Such stocks as Omaha common and Oregon 81
Transcontinental show losses of only small frac-
tions. st. Paul was extremely active, the sales
amounting TO l24, 100 shares, during which it
broke from 953 95s to &c., sold later at 94a, and
steady at little above "a, closing at 943. North
western was only Il per cent. lower. Lake
Shore sold in the forenoon from 864 to
81. rallied to s5S, and again broke to
III. IL was firmer in the last hour selling
up to 500, but became very feverish in the final
dealing, and closed at 84s, with sales of 100, 800
shares. The greatest weakness in New York
Cantrn ,-.. also developed in the afternoon
when it sold at 101 bur rrv-s S SnH-sH decided
strength. advancing to 1888. closing at 1899 The
total reported sales were 794, 900 shares. It is
announced that the balance of the Oregon 81
Transcontinental loan has been placed on very
satisfactory terms 1t is understood that colat-
eral trust bonds bearing moderate rate of in
terest have been issued and Sold 1t is also
stated that Oregon Railway and Navigation will
pay off the last of its floating debt with the pro-
eecds of the 81. 000,00 new fves sold last week.
The market closed with the following prices
bid:
Three per cent bonds. 102 50 ashve 4S
TIv;tad Stataa los 1133alT,