The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-27
CONDITION OF THE MARKETS
A Strong Feeling in Wheat, Based on
the Warlike Tone of Cable News.
Moderate Trading and no Special Features in
COrn-Provisions Quiet and Heavy, and
Without Notable Change.
MONEY, BONDS AND STOCKS.

xhe Railroad Bond Market-A Steady Ad-
vance in Stocks.
New YORK, Sept. 26.-Money ON call was easy
at 1014 per cent
Prime mercantile paper, 405 per cent.
Foreign exchange was quiet and unchanged
The total stock sales of stocks to-day were
2A4.7O4 shares, including the following: Della
ware Lackawanna & Western, 16 100; Erie,
1920 Kansas & Texas, 5,325; Lake Shore,
5000; Louisville & Nashville, $3.50: North
western, 10,630; New York Central 1000;
Pacific Mail, r. S75: St Paul, 80 i25; Texas Pa
eifc, 4.770; Union Pacific, "a, 525; Oregon &
Transcontinental, 5,43o.
Government bonds were dull and strong
State bonds were steady and strong.
The railroad bond market was rather quiet for
everything except Erie seconds, but the business
was we'll distributed The total sales were
fl,978,000, Erie seconds contributing 1872 00O
Prices were generally higher. but the gains are,
IN most cases, only fractional.
ST. Paul occupied the center of interest on
the Stock Exchange to-day. Stimulating
orders in the early dealings resulted in
an advance of from 7s4 to 79E,
which it reached a little before P. NJ. The ad-
vance was slow, and with only slight reaction
The announcement that q per cent. dividend
had been declared on the common stock was
followed by another, to the effect that the
directors had authorized the issue of $1,000 900
additional preferred stock, which was to be
offered to the stockholders of record at par but
1t was not until after the close of the board
that the street was fully informed in
regard to the matter. After the first announce
ment of the dividend there a rapid decline
from 79s to 784. During the remainder of the
day the stock was firm at 49,, until just at the
close, when a. 600 shares were sold at 49, there
a break with 1000 shares sold at 78S. at
which it closed, decline from the highest price
of the day of Il per cent. The preferred sold
yesterday at 1871, and closed at liz. Following
the announcement of the proposed issue of new
stock, it broke to-day at Ill, but closed at
H. with sales of %, 900 shares; the total sales
were 244, 800 shares Only one other stock was
prominent in the days business Union Pacific
opened a shade higher, butt dull and COM
paratively steady at a tract ton below 90 until
after o'clock, when it developed remarkable
activity and finally closed at the lowest
price of the day, with net loss of H. The rest
Of the list was very dull, except the strength
developed in Pacific Mail, which gained l per
cent, and loss of / per cent in Northern
Pacific preferred The other changes are for
small fractions. Comparing prices this evening
with those of q week ago, nearly
everything the list is lower
but the declines are not very important. c., B.
& @. is down p; Union Pacific. q; Omaha com
mon, q and others small amounts. except Pacific
Mail, which shows gain of :. The total sales
for the week were 1916, 025 shares, of which
nearly 80 per cent. was contributed by Lake
Shore, Lackawapna and Western Union
The market closed with the following prices
bid: