The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-12
SLIGHT DECLINE In PRICES.
The Government Crop Report Causes a
Break in the Price of Wheat,
But the Market Finally Closes Only Three
Eighths Under the Figures of Friday
Provisions Steady, with Fair Trading.
MONEY AND STOCKS.


Heavy Business in Railway Bonds-Unusual
steadness in the Stock Market.
New YORK, July 11-Money on call was
easy at per cent.
Prime mercantile paper, 405 per cent
Foreign exchange dull and unchanged
The stock sales to-day were pa, 1903 shares in
eiuding the following: Central Pacific, $500;
Delaware, Lackawanna & Western, 81, 1913; Erie,
1920; Kansas & Texas, $3.50; Lake Shore, 49,,
40; Louisville & Nashville IS, go; Northwest
ern, 1O,115; New Jersey Central, 500; New
York Central, 80 245 st. Paul "a, 040; Union Pa
dfc, $780, Western Union 40.655
Government bonds have been more active, ard
quotations are firm.
State bonds have been very dull, and quota
tons are steady. The total sales Of
bonds to-day was greater than for
any preceding day for many months
past, the transactions footing up 81 677, 900,
but the sales of West Shore firsts 81 795 000
and of Erie second consols FL 063, O00 leaving
only 1919, 900, to be divided among the other
issues dealt in. West Shore firsts are up p,
and Erie second consols an equal amount.
Prices are generally higher.
The stock market has been steady all day for
the general list, while there has been decided
The Vanderbilts were influenced by the con
Stantly growing belief that the negotiations for
q settlement of the railroad troubles,
30 far as the trunk lines are concerned,
Mt least, are making steady progress, while
Western Union had the benefit OF the commence
ment, this morning. of the downfall of another
of their rivals. The course of the price of these
stocks was steadily and persistently up
slight reactions which occurred not ex-
ceeding ! to 3 per. cent, and being followed
Immediately by higher prices. In the afternoon
there was grand rush, in which the stocks
named scored additional gains of over l per
cent. Between the opening and o'clock New
York Central had made net advance from
$751; at which it opened, to 80. In
the oo last hour ooi it rose quickly
again at 9Os, ard closed on a final rally at tho
highest. price of the day. 81, an ad-
vance from last evening of %. Through
out the day the sales were, in most
cases. in small lots but especially SO
In the last hour. Tho feverish condition
of New York Central was not impaired to Lake
Shore, which was dull and strong after 2 o'clock,
.nd closed at the highest price of the day, with
ing and o'clock Western Union rose
from 62 to 63a. and in the final hour
to 64s, closing at 64a. a gain over last
evening of % per cent The sales of the
three stocks mentioned amounted to 1921 900
shares, while the total sales of all stocks dealt in
were A7 600 shares. Six other stocks Lacka-
wanna, st. Paul. Northwestern. Louisville d
Nashville Union Pacific and Erie, contributed
90. 800 shares more. Central of New Jersey,
rs below the highest price reached, at
39s with net advance of /, and
Pacific Mail, which was not dealt in during the
morning, and suddenly sprung into activity in
the last hour shows a gain of :. Louisville d
Nashville is up Il. Other advances for the us
Rally active stocks are for less than per cent.
There was an extraordinary amount
Of business done in Erie, which
rose T. and Union Pacific made an equal ad-
vance on a very small business. On sales Of
only 900 shares, Canadian Pacific shows an
advance of 81 and Of the other inactive stocks,
Canada Southern is up Il, and Missouri Pacific
/. The market closed strong at or
the best prices of the day. Comparing prices
this evening with those of a week ago, the most
notable changes are the advances in some stocks
that exhibited so much strength today. New
York Central is up 6. per cent; Lake Shore, 3,
and Western Union, per cent st. Paul also
shows net gain of q and New Jersey Central
per cent, the other advances in the active list
being for less than this amount The total sales
were 056, 800 shares. which is "a, 600 less than
for the preceding week of only FIVE days.
The weekly bank statement shows the follow
ing changes:
specie increase Go90,oUo
Legal tenders increase. .--.-..--..--... 937, 800
DeposlJs increase S9oS,SoO
Circulation decrease 129.OOO
reserve, increase --------------..----. ZLSL,cZO
The banks now hold $63 900 1913 in excess of
the legal requirement.
The market closed with the following nrices