The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-23
CONDITION OF THE MARKETS.
Wheat0 penswith Strong Feeling, Owing
toSlight Increase in Visible Supply,
But the Outward Movement in Gold and the
Decline in Stocks Causes Large Offer.
ings and a Panicky Feeling.
MONEY. BONDS AND STOCKS.

Light Business in Railway Bonds-Probabil-
tiles About Expectation of Gold.
NEW YORK, Dec. 22.-Money on call was
easy at d3 per cent
Prime mercantile paper, 405 per cent.
Foreign exchange rates have advanced to 81. sc
for sixty days, and 81. 893 for demand.
The total sales of stocks to-day were $685. IT'S
shares, including the following: Delaware,
Lackawanna & Western, GA. 760; Erie, It, ITO;
Kansas & Texas, Al, OPS; Lake Shore, 54,97S;
Northwestern. 20, $3.50; New Jersey Central, 1900;
New York Central, 13.434; Pacific Mail, 1926
St Paul, 38, 225: Texas Pacific, 4,015; Union
Pacific, 10, 1856; Western Union, 1885 Northern
Pacific preferred, q, 700; Oregon & Transconti-
mental, 1867.
Government bonds were dull and about steady
for the tours and four-and-a-halfs and strong
for the threes to-day.
State bonds were very dull and steady.
The demand for railroad bonds was light The
total sales were 81 80l 000 East Tennessee issues
$464, 900. Prices are generally lower. There
was decline of per cent. in Erie second con-
soils on sales of only $253, 600.
Stocks were extremely dull this forenoon.
The total sales for the first two hours amounted
60 less than 100. 900 shares. Later, reports of
probable shipments of gold to Europe the mar
ket became more active and weak and tho
news in regard to foreign exchange was circu-
lated the disposition TO sell increased. resulting
in an increase in the day operations of over one
hundred thousand shares as compared with yes
terday, the sales to-day amounting to 388 ITO
shares OF this business nearly 200 900 shares
were in Delaware LackawanDa 81 Western,
Lake Shore, Missouri, Kansas g. Texas, and st.
Paul. Prices were steady at the opening, fol-
lowed by fractional declines and renewed firm
ness during the forenoon and continued weak
ness until the close. The active stocks Yielded
1202 per cent. from the opening and were
from l to over per cent lower than at
the close last night Missouri Pacific showed
. loss of q; Oregon Navigation,
q, and Columbus, Hooking Valley & Toledo, q.
The Vanderbilts were very well held, New York
Central losing only :. and Lake Shore per cent.
Erie is also off only :. and there is light decline
in Louisville 81 Nashville. Other losses are gen
orally from II to Il per cent, the latter in Mis-
souri,, Kansas & Texas. Texas & Pacific is
down per cent Late in the day considerable
effort was made to depress the price, first OF one
whole list simultaneously. and the market closed
irregular but generally heavy, at or near the
lowest prices of the day.
The absorbing topic among brokers' operators,
bankers and financial men generally was the re-
ported arrangement for reshipment of gold on
Saturday. The reports late in the day were to
the effect that about S. 000 900 in gold had been
purchased for shipment. Inquiry at the Offices of
she leading dealers in foreign exchange lnclud-
ing those who were reported to have arranged to
export a considerable quantity of gold, elected
the fact that no gold will probably go forward
before Saturday next. and that the shipment
then is contingent upon the maintenance of an
advance in the rate for sterling exchange. At
he house of Brown Bros. & Co. it was
stated this evening that they would probably
ship 81, 600 900 on Saturday. but nothing definite
was yet known Other prominent banking
houses think the advance in foreign exchange
49, H. H.
Bank of England advanced its rate of discount,
on Thursday last the posted rates here for for
sign exchange were $3.50. Last Wednesday
evening they had advanced to 81. Sc and 81. co.
and to-day there were two advances of / cent
EACH making the rate night $4.8 and 81. 90a.
With the ruling rate of money in London and
New York. dealers in exchange say that gold can
be shipped without loss at 81. S9A. The advance
has been stimulated, to some extent, by the ap-
preaching settlements to be made at the end of
the year.
The market closed with the following prices
bid: