The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-27
CENTS FOR WHEAT.
The Market Opens Steady, but Soon
Drops to 80 Cents and Even Lower.
a Good Deal Of Heavy Buying at the Low
Prices-Proyisions Quiet, Steady, and
Slightly Higher.
N AND STOCKS.
Eess Activity i'm Railway B~onds-Stocks
Quiet and Steady.

LESS Activity i'm Railway B~Onds-Stocks
Quiet and Steady.
New York, June 26.-Money on call was
easy at II per cent.
Prime mercantile paper, 405 per cent
Foreign exchange was dull but firm at 81. 81
for sixty days, and A.s51 for demand.
The total stock sales to-day were 214. 1897
shares. including the following: Delaware, Lack
awanna & Western, 35, 535; Lake Shore, I3, $50;
Louisville & Nashville, 81, 800; Northwestern,
I3, 700; New Jersey Central. $500; New York
Central, 8, $50; Pacific Mail, AZ, AGO; st. Paul, 49,
$40; Union Pacific, $50; Western Union, 5000.
Government bonds are quiet and a shade lower
for the four and four-and-a half per cents, and
steady for others.
State bonds have been quiet and quotations
steady.
The railroad bond market has been less active
than for some time past, and after deducting the
aales of West Shore frsts, amountingto 1914, 900,
and Of Erie second %consols, $50, 600, there remains
cnly $466. 900 for the remainder Of the list.
Prices were irregular, but there were more than
the usual number Of dealers.
She stock market has been more quiet to-day,
me only activity occurring in the forenoon, when
there was considerable trading in Pacific Mail,
the grangers, the Vanderbilts, Union Pacific,
Lackawanna, Jersey. Central and Louisville &
Nashville. The total sales for the forenoon ag-
gregated about SO per cent. of the days bust
ness. At the opening the market was weak,
and IN many cases the lowest prices
Of the day were made before III A. NJ.
This was followed by a reaction, and the market
continued strong until 2 p. NJ, about which time
the highest prices in most cases were reached.
In the last hour the market was again weak
Louisville & Nashville, Central of New Jersey,
and Union Pacific losing all the previous gains
and something more. The market ceased barely
steady and irregular, but everything on the list
Is down to ! per cent, except Pacific Mail,
which shows a loss of Il; Central. of New Jersey,
I; Louisville 81 Nashville, J, and Reading, II.
The bears have been heavy sellers of Pacific
Mail during most of tho day, but there has APP
peared also some good buying by the friends of
the company and others who have faith in the
property. 1t is generally understood to-day that
the City of Toxic is a total loss. The officers of the
company state that they have enough steamers,
however, to do the business offering without the
City of Toxic, and it is understood that a new
steamer will be ordered very soon. There is at
present 500, 900 in the building fund, and the
officers claim that $40, 900 per month can be
added to this fund without in any way affecting
the future dividends and without drawing upon
Its surplus of $500, 900. 1t is semi-of6cially stated
that the companys earnings for the current
quarter are at the rate of 10 per cent per annum.
The City of Sidney, of the Australian line.
which is ready for immediate service, has been
ordered to take the place of the City of Toxic,
In case the latter is i totally destroyed. After the
break in the morning to 493, the stock rallied to
sos, but was less active and weak in the after
moon, selling down again to 49s, and in the last
hour was about steady at 49, 049s.
St Paul continues to exhibit decided strength,
apart from the rest of the list, and was again the
most active stock traded in. The fluctuations
were within a range Of ! per cent, and it closed
this evening with a loss of !. Northwestern was
dull, and is lower. There was less
business in Manitoba; the stock rose
at one time to 100, and closed ! per cent.
lower. The stories that have been circulated to
the effect that Manitoba was to pass under the
management of the c., B. & G. are not generally
believed by well informed persons in the city,
and it is semi officially stated that. whatever the
plans of certain parties in interest may be,
nothing official has been done.
The total sales of all stocks were 214. 800 shares,
of which ST. Paul, Pacific Mail, Lackawanna and
Louisville e. Nashville contributed nearly 10 per
cent. The Stock Exchange has suspended deal
ings in Pittsburg, McKeesport & Youghiogheny
stock, of which $500, 900 were recently listed,
until the company has established a transfer
office in this city.
The market closed with the following prices
bid: