The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-06
HIGHER PRICES FOR WHEAT.
Another Day of Excitement On the Floor
of the Chicago Grain Exchange.
Fhe Bad Crop Outlook Causes a Further
Advance of Nearly Two Cents in
Wheat - Provisions Lower.
Large Decrease in Sales Of Railway Bonds
Stocks Weak and Dull.

Large Decrease in Sales of Railway Bonds
Stocks Weak and Dull.
NEW YORK, June 5-Money on call was
Easy at / per cent.
Prime mercantile paper405 per cent.
Foreign exchange dull at "a. S63 for sixty days
End 81. s71 for demand.
The stock sales to-day aggregated l69, 1900
shares, including the following: Delaware,
Lackawanna & Western, q, $50; Kansas &
Texas, $500; Lake Shore, 4, 800; Northwestern,
I6. 100; New York Central, 8 300; Pacific Mail,
IS, 140; st. Paul. 1920; Union Pacific, SO, 995;
Northern Pacific, 4,264.
Government bonds have been quiet. but
strong, final quotations showing a slight advance
In most cases, but a decline of 4 per cent. in
The currency skies.
State bonds have been strong on a moderate
business. Quotations for some of the Missouri
and other Southern issues show an advance in the
price bid Of I02.
The railroad bond market has been much less
active to-day. The total sales were only 81, 1885,
600, a decrease from yesterday of over 81, 000, 600,
bat the sales of Erie second consols were only
e461, 600, and of the West Shore frsts $178, 900.
The rest of the business was well distributed.
Il IASCCt 4lo CsOnlAiSs al NoIupdiCA WILL tNC iaoe
previous sales, are Irregular, the market having
been weak during the early part of the day, but
recovering a portion of the loss in the last two
hours. A steady drive, accompanied by some
realizing, has been made to-day against some of
the leading active stocks, notably Laekawanna.
Union Pacific and New York Central, resulting
in a decline in the price of the first mentioned Of
nearly 2 per cent.
The stock market opened weak and dull, and.
without any important reactions during the day
atnw1u h1;f Qreadi1u ufo11ad nm 1irnifad tpanlae.
tions, till after 2 o'clock, when there was a more
decided break in the more active stocks, which
was checked only a few minutes before the close
Of the board. In the final transactions there
was q rally of / TO per cent, with Lackawanna
gaining Z, and the market finally closed barely
steady at the improved quotations. While the
extreme declines were, in a number OF instances,
considerably over j per cent, the net result Of
the days work is a loss of ! to I per cent, except
In Union Pacific, which is down i, and Lacka-
wanna II. st. Paul is, however, only 3, and Lake
Shore ! per cent. lower. The street was compar-
atively free of rumors of a character to influence
che market. and the weakness is attributed only
60 the work of prominent bears With the pres
eDt condition of the money market, and the
amount of surplus capital awaiting investment
Mt i or 2 per cent. per annum, there is not a
'bear' that does not admit the power of the
'3bulls' to sustain prices whenever they are III
The Missouri Pacific directors declared the
usual quarterly dividend of Il per cent, payable
ON July 1. Oregon Transcontinental shows a
gain of /, and Manitoba of ]. There are
no other advances on the active list, and
Omaha preferred is down II. with sales of only
500 shares. There was a decided break, early in
the day, in Missouri, Kansas & Texas, which
sold at Ice, and remained dull and steady there
after. closing a shade above the lowest price,
with a loss of :
1t is stated that the city of Pekin, on the
Pacific Mail Company's line, earned $119, 900 net
en- its last trip, which is the largest ever realized
on one voyage by any of the company's steamers.
The total transactions were 1859, 600 shares, an
increase of about 80, 600 shares over yesterday,
the largest business being in Union Pacific. St.
Paul. L~ackawanna, Northwestern, New York
Central and Pacific Mail. in the order named,
the sales being from "a, 600 down to $4,000 shares
each. In no other case did the transactions
amount to as much as 1000 shares.
The market closed with the following prices
bid: