The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-03
CONDITION OF THE MARKETS.
Wheat Quiet and Steady Within Mar
row Range of Fluctuations,
Finally Closing at Prices Slightly Below
Those of Saturday-Higher Figures for
C0rn-Provisions Shade Lower.
MONEY, BONDS AND STOCKS.
A Quiet Market for Railway Bonds-StocIZ
Active but Irregular

A Quiet Market for Railway Bonds-Stocks
Active but Irregular.
NEW YORK, Nov. Mooney call was
active and firm at pa 81 per cent
Prime mercantile paper, Al as per cent
Foreign exchange was quiet at 81 49, for sixty
days and 81. IS for demand.
The total sales of stocks to-day were 5s1, 93s
shares including the following Canada
Southern, 5000; Delaware, Lackawanna &
Western, 1885, Erie, SO, 585; Kansas & Texas,
1920; Lake Shore. 81, 4SO; Louisville & Nash
vile, 8, 100; New Jersey Central, 3, 10; New York
Central, Is, 1870; Northwestern, IA, $50; Northern
Pacific, II, 485; Pacific Mail, &c, 700; Reading,
IS, ITO; st. Paul, 81, 200; ST Paul & Omaha, 10,
300; Texas Pacific, %, $50; Union Pacific Is, BOG;
Western Union, SO, go; Northern Pacific pre-
ferred, 49, 600; Oregon and Transcontinental,
1906
Government bonds were dull and strong.
State bonds were very dull and heavy
In the railway bond market Erie second con-
soils were comparatively quiet the sales amount
ing to only $4,000. There was considerable
activity, especially In the afternoon, in the Texas
e Pacific issues. and and a good business in the
Atlantic g. Pacifcs and the East Tennessee,
Virginia & Georgas during the most of the day.
The stock market was feverish active and
Irregular at the opening. First prices varied
from small decline to an advance of ] per cent
over Saturdays closing figures. Laekawanna,
Union Pacific and Reading were the most prom
inert fer +ne ,,.,n. established. while missouri
Pacific and New York Central were weak. The
market was extremely active in the early
dealings, the total sales for the day aggre-
eating $50, 900 shares, about the same as on
Saturday. Of this amount, seven stocks
contributed nearly 340 900 shares, the stocks re-
ferred to being Lake Shore Western Union,
NJ, K. & t., Northern Pacific preferred Erie,
St. Paul and Reading, in the order named.
While the market was more or less irregular
during the forenoon, the general tendency for
time was upward, followed by a reaction, in
which the early gains were lost, and then an
other strong market chat, with irregular and
moderate fluctuations continued until nearly
o'clock, the gains by that time ranging from
fractions to over 2 per cent. However, there
were good many exceptions to this rule. The
strong stocks included Western Union, NJ, K. &
t., Pacific Mail, st. Paul. Omaha, Northern
Pacific preferred, O. t.. Canada Southern, Ca
madam Pacific, Lake Shore and Lackawanna
New York Central was prominent for its COM
parative weakness. and this was also true Of
Northwestern, jersey Central, Reading and
Missouri Pacific. Erie and Lackawanna touched
the highest quotations before midday. The an
nouncement that the Pennsylvania railroad had
declared dividend of only 2 per cent, instead of
the usual per cent was the signal for a sell
ing movement that continued until the close of
the board. the declines at times being quite
rapid especially for Western Union, which fell
per cent. in the last hour. The market closed
irregular and decidedly feverish, with only
changes of small fractions, in most cases, from
Saturday evenings fna! figures. The greatest
losses were in Missouri Pacific, Central of New
Jersey, Manitoba and New York Central, the de-
slines being from to J. Western Union,
Reading, and Louisville e Nashville are down
I each. ST. Paul closed with net gain of / ];
Omaha common, Il; Canadian Pacific !; o. & T.,
and Canada Southern, each, :, and others small
fractions The strength of Western Union dur
ing the greater part of the day was aided by re-
ports that a pooling agreement between the
Western Union and Postal Telegraph companies
was likely to be made at an early date. Erie
closed higher than Saturday. 1t is understood
that the Pacific Mail Steamship Company will
withdraw its Australian line at once, its contract
Tittss .nc colonies having expired to-day 1t is
said that London syndicate has recently pur-
chased 100, 900 shares of Union Pacific for ship
ment abroad.
The market closed with the following prices