The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-06
CONDITION OF THE MARKETS
Limited Trading in Wheat, Accompa-
MED by a Generally Easier Feeling.
Corn and Oats Firmer Under Small Adj
vance in Prices-Proyisions Weak
ard Holders Anxious to Sell.
MONEY. BosDs AND STOCKS.

Increased Business in Railway Bonds-Re-
lnarkable Activity in Lackawanna Stock.
New YORK, Oct 5-Money on call was easy
IT az per cent
Prime mercantile paper, 405 per cent.
Foreign exchange was dull at 81 83a for sixty
days, and 81. s5s for demand.
The total stock sales to-day were 49,. 1886
shares, including the following: Delaware,
Lackawanna & Western. 1l3, 97S; Delaware e.
Hudson, 30, $50; Erie, SO, 60O Lake Shore, A. 76O
louisville & Nashville 1885, Northwestern,
31,618; New Jersey Central, 1885, New York
Central, 30640, Pacific Mail, $780, Reading,
5000; St Paul. 29.l65; st. Paul & Omaha 7750
Texas Pacific, 1850; Union Pacific, % 885;
Western Union, 55,595; Oregon & Transconti-
mental, g. no.
Government bonds were dull and strong.
State bonds were active and steady.
There little better business in railroad
bonds to-day, and continued active trading in
Erie second consols, the sales of which amount
cd to l,044. 900. The granger issues were very
quiet, but the few bonds dealt in were strong
The special feature of to-day's stock market
has been the remarkable activity and advance in
Lackawanna. The stock opened unchanged at
1855. and on heavy buying and only moderate
reaction rose to 1904, which point was reached
before p. M In the last hour there re-
action to 1882, slight rally and break to
1881, closing at 1881, with net advance for
the day of q per cent and with sales Of ia 600
shares, or over 26 per cent. of the total days
business in all stocks dealt in.
The advance was accompanied by various ru-
mors, all tending to show that prominent
'bear' OPERATOR unnamed, was being squeezed.
All admit that the advance was due entirely to
manipu alton, and that there was no change in
a 80.
Delaware q Hudson, on a small business sym
pathized with the advance in Lackawanna,
gaining %. On the other hand, Jersey Central
was weak, and closed with net loss of !. Read
ing is up s. There was very active trading also,
IN Western Union. Lake Shore, Northwestern,
New York Central, St. Paul, and Union Pacific.
The sales ranged from S.. 900 to $4,000 shares.
These, with Lackawanna, contributed
over Is per cent of the days business.
Tire market was strong from the opening to the
close, although there were several moderate re-
actions during the day for fractional amounts,
and closing prices for the general list are to
below the highest figures, which were generally
reached about the middle of the afternoon. New
York Central sold as high 10l; Lake Shore,
76a; Northwestern. 1929. and st. Paul IS. These
were gains of to Il per cent, compared
with the opening figures The rest of the list
was quiet and only firm, except Western Union,
which rose Ii, to III, and closed with net gain
of per cent. New York Central made a net
advance of !, Lake Shore l, and North
western !, while St. Paul is unchanged
Compared with the market Saturday, to-day's
was weak and slow. Pacific Mail is up ]. 1t is
claimed that some of the prominent leaders on
the street nave Joined hands for another bull"
movement of considerable proportions and
there is good deal of talk about decidedly
higher prices, especially for Lackawanna, North
western, Western Union, and Missouri Kansas
& Texas. Several railroads reporting earn
ings for the month of September show consider
able gains compared with the same month
last year, Northwestern making a net increase
of $50, 400. but this, and more too, was made in
the last week. Omaha gained nearly $45l. 900;
Chicago & Alton lost 1852. 900, and St Louis &
San Francisco nearly $56 600.
The market closed with the followin prices
hid.