The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-11-15
CONDITION OF THE MARKETS.
Good Buying of Wheat, in Anticipation
of Speedy Advance in Prices.
The Market Closes Two and Half Cents
Higher than on Friday-PrOvisions Very
Strong on Good Local Demand.
MONEY. BONDS AND STOCKS.

".
A Large Business in Railway Bonds-Stocks
Very Active but Irregular.
NEW YORK, Nov. 14.-Monev on call was
easy at 293 per cent
Prime mercantile paper, Al 05a per cent
Foreign exchange was quiet and unchanged.
The total sales of stocks to-day were 7S7, $40
shares, including the following: Cafada South
ern, Ia. 200; Delaware, Lackawanna & Western,
1885, Erie 70. Clio; Kansas e. Texas, 503O3 Lake
Shore, SO, 450; Louisville & Nashville, g. 72O Lake
Erie & Western, 4,470; Northwestern, 20. $50;
New Jersey Central, 1885, New York Central,
A,540 Northern Pacific. $3.50; Ohio & Mis-
sissippi, $50; Pacific Mail. 26,360; Reading,
1885, st. Paul. I53 $780, st. Paul & Omaha, &c.
575; Texas Pacific, H. 400; Union Pacific, q, GAO;
Western Union, 1887; Northern Pacific pre-
ferred, 60,564; Oregon & Transcontinental, IT,
&c.,
Government bonds were dull and steady.
State bonds were active and generally higher.
Notwithstanding the great activity in shares
o large business was also done in railway bonds
The transactions amounted to 81, 486, 900, large
number of issues receiving attention, and the
speculative list was led, as usual, by the Erie
second consos, of which the sales were 1918, 600,
closing with net loss of q. The sales for the
week have amounted to $2l, GOO, 900, against $l5-
$40 600 last week.
The stock market was extremely active and
during most of the time feverish and irregular
The reported sales were greater than on any
preceding day this year, being 1873 300 shares, an
increase over yesterday of 100, 900 shares. The
actual number of shares bought and sold was
probably not very much short Of 100000.
When the market is so extremely act
i've it is about impossible for the
reporters to obtain record of all the
transactions. The activity continued from the
opening TO the close, with the exception of lull
between l and o'clock, which was, however, of
short duration. The activity was mainly con-
fined TO very few stocks, in which St Paul led
with sales Of 153, 800 shares. Erie, Northern
Pacific preferred, Lake Shore, and Missouri,
Kansas 81 Texas furnished sales ranging between
70. 600 and so. 300 shares and with St Paul, con-
tributed nearly 400, 900 shares, or over e-half
of the total days business
There has been great deal Of talk on the
etreet, recently about heavy purchases in Lon
don of American securities and large ship
ments from this country for European account.
For some time time past the opening prices in
London were generally higher than the closing
quotations of the evening before on the New
York Stock Exchange, and this, whether
manipulation from this side. was an
important factor in adding strength
to the market here. The weakness this morn
ing was due in part to reports from London
showing that the market was heavy, and the
statement that owing to the war-cIoud in Eu-
rope and other causes spectators were heavy
sellers OF American securities day. The re-
suit was an excited irregular opening. rang
ing between advances of a0a and declines of
4@2 for the active list. The move -nent during
most of the forenoon was very ir-
regular; some stocks advanced from
to 2 per cent, while others did not sell above the
opening quotations The highest prices, how
ever, with few exceptions, were established dur
ing the forenoon. After midday the tendency
was downward, but the movement continued
very irregular. There was no decided break
till after 2 o'clock, when, within fifteen
minutes, nearly all the active shares de-
clined from to II per cent. Erie. the Changers
and Lake Shore were the most prominent.
An attempt was made to check the decline,
which was partially successful and in some
cases, during the final hour most of the losses
made after o'clock were regained. The move
ment was extremely feverish, spasmodic and ir-
regular.
In the final dealings some stocks made sudden
rallies at the same time other and more active
securities were declining. The market finally
elosei irregular, weak, excited and feverish,
with declines ranging between fractions and Z.
The street" is divided in opinion this even
ing as to whether the leading pools have
actually unloaded. and are now ready for the
Iong-expected reaction, or whether it was only
"slump," and the market is to receive the sup
port which has been such prominent feature of
the dealings for long time. 1t is noticeable that
most of the active stocks during the day
those which suffered most this afternoon while
the low priced securities in which the dealings
from day to day are comparatively small, are
generally we'll held.
The market closed with the following prices
bid
,Io 1alTo IL