The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-08
CONDITION OF THE MARKETS.
An Easy Opening in Wheat, Followed by
Sudden and Unexpected Strength.
The Trading Marked by Good Buying, Both
on Local and Eastern Account-PrO-
visions Stronger and Higher.
MONEY, BONDS AND STOCKS.
Well Distributed Business in Railway Bonds
Stocks Open Higher and Close Strong.

Well-Distributed Business in Railway Bonds
Stocks Open Higher and Close Strong.
NEW YORK, Nov. Mooney on call was
easy at II 023 per cent
Primo mercantile paper, Al a 81 per cent.
Foreign exchange was quiet and unchanged
The total sales of stocks to-day were AGA, 757
shares, including the following Canada South
ern, $685. Central Pacific, 4,652; Delaware,
Lackawanna 6 Western, 25. 800; Erie, 21,O2s;
Kansas & Texas, 1o5O5 Lake Shore, 95, los;
Louisville & Nashville, 42,550; Northwestern,
$780, New Jersey Central, 20,5l5; New York
Central, H. $780, Reading, 7,720 st. Paul. 81, 12l;
Union Pacific. 30,65O; Western Union, %, 74O;
Northern Pacific preferred, IL 963; Oregon and
Transcontinental, 9815.
Government bonds dull and steady.
State bonds dull and heavy.
The dealings in railway bonds were again dis
tributed over large list of securities, but the
transactions, in most cases. were for very small
amounts and were not as large in the afternoon
as usual. The total sales were 49, 02l, 900. There
was increased trading in the Erie second consols
with sales of ST. 241, 600 Prices closed irregular
but generally higher
The Northern Pacific Railroad Com pany has
asked the Stock Exchange to list $40, 600, 600 of
iss second mortgage per cent. bonds due in
1888: the Columbus. Hooking Valley 81 Toledo
company applies for the listing of Ii, 835 shares
of its stock, in addition to the amount already
listed
The total sales of bonds during the
week were $l5, 81, 900, against 500, 924, 600
last week The London quotations for the
leading American securities indicated very de-
cided advance in the English market, and the
figures were accompanied by the statement that
American securities were in great demand The
market here responded by opening from ! a !
higher, Lake Shore leading. This display of
strength, however was very short-lived, and in
the next twenty minutes there was decline of
401a per cent. This was followed
by partial recovery in the forenoon, but the
market, for considerable time, continued fever
ish, irregular and active Prices in the afternoon
were comparatively steady, but firm on small
fluctuations, until late in the afternoon. when
some of the most active stocks developed re-
newed strength, which was most conspicuous
IN the final dealings, the market closing
strong at or not much below the highest figures
of the day, and with gains of 8 to per cent, ex-
cept for few of the most active stocks, which
advanced from to g per cent The most prom
inent feature of the market was the great activ
ity and strength in Lake Shore, the total sales
amounting to 9l500 shares. st. Paul, and
Louisville e. Nashville, jointly con-
tributed as much more, and the remain
der of the days business-273. 900 shares-was
pretty widely distributed. Lake Shore opened
AZ ofS; Inc u0Xb SAFE was at %, ana from tnaC IL
broke in few minutes to 81, but rallied in the
forenoon to 85s.' Later it sold up to 852, and
closed higher with net gain Of q per cent.
The advance was unaccompanied by any i'm
portant news having tendency to influence the
value of stock, but the statement comes from
semi official sources that the scheme which has
been discussed in Wall street for some
time past, by which all the Vanderbilt lines
west of Buffalo and terminating at that city
will be operated on plan somewhat similar to
h,nk hvyxr htok %ha Do.
operates the lines west of Pittsburg will be car
ried out New York Central is higher
than it closed yesterday. There was
remarkable strength, accompanied by
unusual activity, in Louisville &
Nashville, showing gain of ! at the opening, at
452. from which it advanced in the morning to
s69, and after yielding to 454. sold up again in
the forenoon at 46s In the afternoon it ad-
vanced to 4Sa, and closed lower. with a net
gain of %. Northwestern was remarkably
steady in the forenoon, between 1113 and 111a.
It did not go above 112, and closed at that
price. st. Paul showed more feverishness, and
after selling at 95 q 95s at the opening, yielded
to 932. but rallied in the forenoon to 94a and in
the last hour sold at 95s, at which it closed--a
gain of ! per cent. Union Pacific sold in the
morning to STE. and after rallying to So closed
with an advance of II. Michigan Central is I'D
II; Lackawanna and Missouri Southern, !.
Iii said some of the bank officers are growing
uneasy on account of the class of securities
that are being offered by operators and
that loans are daily rejected on account of the
poor securities rendered
The changes in quotations this evening from
those of a week ago are generally unimpOrtant,
and the advances and declines are pretty nearly
equally divided among the active stocks The
greatest advance was in st. Paul, 81 Union Pa
cifc, 4; Lake Shore, 3; Louisville & Nashville,
r. The declines in no case amounted to as
much as per cent except in Missouri Pacific,
which is down g. The sales for the week were
1857, 600 shares, an increase over last week of
90, 600 shares.
The market closed with the following prices
bid: