The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-05
CONDITION OF THE MARKETS.
The Trade Greatly Surprised by the De-
velopment of Bullish Feeling,
Which Is Confined to the Wheat Pit, Where
Transactions We're Large and Fluctua-
tions Numerous-Provisions Strong.
MONEY, BONDS AND STOCKS.
Small Business In Railway Bonds-Stocks
Very Active and Irregular.


Very Active and Irregular.
NEW YORK, Nov 4-Monev on call was
IN good demand at 203 per cert until late in the
afternoon, when a very active demand was de-
Feloped and the rate rose to per cent, but the
dosing loan was at A per cent.
Foreign exchange was dull at 81 833 for sixty
lays and s. So for demand
The total sales of stocks to-day were 533, 165
shares, including the following Western
Union Sc, Gas; Canada Southern, 10.550; North
nm Pacific preferred, 26, 795; Delaware, Lacka-
gamma G. Western, 2o,65O; Oregon and Trans
continental, e. 935; Delaware & Hudson, 5,365;
Erie, %, 230; Kansas & Texas, 26.5S5; Lake
Shore 1898; Louisville & Nashville, Ia, 125;
Northwestern, 1885, Northern Pacific, COLO;
New York Central, 7,4OO; Pacific Mail, IL, $50;
Reading, 11,625; st. Paul. 81, 942; St Paul &
Omaha, $3.50; Texas Pacific, 1870; Union Pa
fiic, 8245
Government bonds were dull and steady.
There we're no sales of State bonds this after
aeon.
There was a smaller business in railway bonds
to-day than for some time past The total sales
amounted to $2946 600, but the business was
very well distributed None of the issues were
very active. Prices sympathized, In a measure
with the course of the share market. The sales
of Erie second consols were $443, 900.
The stock market was again very active to-
day. The sales for the first hour amounted to
165500 shares. The total sales for the four
hours of the day aggregated 532, 200 shares The
feature. especially of the early dealings, the
large trading in st. Paul and Western Union
The sales of the former were g. 900 shares, and
Of the latter So, $40 shares Although somewhat
irregular, prices were generally from to !
higher than they closed on Monday, most of
which, IN many cases. was subsequently,
lost, but before the end of
the first hour the market became
strong and continued until l o'clock, although
the movement in that time was extremely irreg-
nlar. The most prominent advances were in
st Paul, q; St Louis & San Francisco, q;
Northwestern Is; Omaha common, 1s Western
Onion, Louisville q Nashville and Northern Pa
eifc preferred, each, L, and Lake Shore Mani
toba, Oregon Railway and Navigation, Oregon
Transcontinental, and Omaha preferred. EACH
/ per cent. On the other hand, Canada Pacific
at no time sold as high as it closed on Monday
while the Missouri Pacific and Michigan Central
each gained only !; Erie. 3; New York Central
and New Jersey Central, each, ], and others
somewhat larger fractions. After l o'clock
Western Union developed very decided weak
ness, and in the next hour declined per cent.
Tho remainder of the list sympathized.
In the last hour the decline was
checked; only to be renewed again with
increased vigor. Western Union sold down to
Tsc or drop from the best figure Of the day
of Z per cent St. Paul, Lackawanna, Lake
Shore, Union Pacific. Oregon and Transconti
mental and the Northern Pacifcs were all prom
inently weak. although the movement was ex-
tremely irregular, and the lamentations between
consecutive sales unusually wide The market
closed irregular and excited, but weaker for
many of the active stocks. at quotations that are
frequently little better than the lowest quota
tons of the day The late decline was accom-
panied by sudden advance in the rate of inter-
est on call loans; business during most
Of the day was done at 2 to 3 per cent.
In the last hour. the rate was rapidly bid up to
z, but it broke again to Al. the closing rate being
bid and a asked. After the hour it was of
fered down to per cent. The heaviest declines
in the active list to-day were in Delaware &
Hudson, Il; Western Union, Il; Canada South
ern, Is: Oregon Navigation, Il; Lackawanna,
II; Missouri Pacific and Northern Pacific COM
mon. each, l. and others less than l. st.
Louis & San Francisco is up II; ST. Paul. /, and
Union Pacific, I. The strength in Union Pa
siic has been accompanied by reports that a
London syndicate had purchased large amount
Of the stock of the company, most of which has
already been shipped to London. and by alleged
buying by Boston parties
The market closed with the following prices
bid: