The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-18
ACTIVE WORK ON CHANGE.
Wheat Opens Weak, but Active Trading
Causes a Very Sharp Advance.
Corn Opens Steady, and Good Buying Results
i'm an Advance-The Provision Market
Active and Higher.
MONEY. BONDS AND STOCKS.

Increased Activity in Railway Bonds-The
Stock Market in an Unhealthy Condition.
NEW YORK, Sept 17.-Money on call was
easy at II per cent
Prime mercantile paper, 405 per cent
Foreign exchange was quiet at 81. 824 for sixty
Jays. and 81 84l for demand
The total sales of stocks to-day were 257, 1923
shares including the following: Delaware,
Lackawanna & Western, $4,000; Kansas g
Texas, 8,S47; Lake Shore, Is. 2l0; Northwestern,
1920 New York Central, $500; Pacific Mail,
137G7 St Paul, 47,0s5; st. Paul & Omaha,
1880; Union Pacific, % 1885, Western Union, g.
$40: Norther Pacific preferred $780, Oregon
& Transcontinental, 1906.
Government bonds were dull and firm.
State bonds have been neglected, but quota
tons are steady.
There was increased activity in the railroad
bond market to-day; the sales were s., 29l, 900,
Erie seconds contributing $693, 000 There were
also sales of $4,000 Texas Pacific issues, and
the land grants were shade higher; Rio Grande
62 coupons are up J. There was more than
usual attention given to Nickelplate frsts, which
closed with net advance of per cent. Denver
& Rio Grande frsts were active and strong this
afternoon. The consols are also II higher
The stock market presents an unhealthy con-
ditlon, which gives unmistakeable evidence of
being the outgrowth of manipulation in great
measure. The market this morning was strong
Mt the opening, and further fractional advances
were made in the early dealings, but early
prices, as rule. were the highest of the day.
There was, later, moderate decline, then a
eteadiness. accompanied by extreme dullness
After midday there was a very decided further
decline in the general list. The decline was
checked shortly after 2 o'clock, but the market
remained dull and heavy, with only very
Slight reactions to the close. the final figures
being, as rule, not much better than the lowest
quotations reached. st. Paul absorbed a large
portion of attention. and, contrary to the gen
oral rule 1T was strong throughout the forenoon,
advancing from 794 to 79s. Later it sold at 500,
but the manner in which the buying was done
led people to believe that it was manipulated.
In the afternoon it declined to 49, rallied in the
last hour to 79s, and closed at 79, an advance of
4 per cent Northwestern, on small bust
ness, is lower There was continued
weakness in Pacific Mail, especially in the
afternoon, when it sold down to 49, but closed at
At, with a net loss of IL. The story in circnla-
ton this afternoon was to the effect that the
subsidy paid to it by the Pacific roads was likely
sudden activity developed yesterday by Missouri,
Kansas q Texas, and Texas & Pacific has rs
quickly subsidized, the sales to day being for
only moderate amounts. while the stocks
are lower for the former, and ! for
the latter. The Northern Pacifics
lost most of yesterdays gain, while Oregon &
Trapscontinental is unchanged and Oregon Nav
igation is higher The other changes are for
only small fractions, and are about equally di-
vided between gains and losses, except New
York Central, which is down + and Lake Shore
I. Union Pacific is also lower It is reported
that the Burlington & Missouri railroad is build
ing into the Union Pacific country at the rate of
one and one-half mile per day. The total sales
to-day did not differ materially from those Of
yesterday.
The market closed with the following prices
bid: