The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-05
. SHARP DECLINE IN WHEAT
The Milwaukee Crowd Unloads, and
the Price Drops Two Cents.
Fears of Frost Carry Up the Price of Corn
Provisions in Better Demand, and
Prices Rule Higher.
MONEY, BONDS AND STOCKS.
an Stocks Dull Sharp Decline in Union
Pacific Stock.

An Stocks Dull Sharp Decline in Union
Pacific Stock.
NEW YORK, Sept 4.-Money on call was
sassy at lola per cent.
Prime mercantile paper, 405 per cent.
Foreign exchange was dull at $4.83 for sixty
lays, and $4S5 for demand.
The total sales of stocks to-day were 241, 100
shares, including Delaware. L~ackawanna &
Western, 23.212; Kansas & Texas, 1000 Lake
Shore, II, 035; Louisville g. Nashville, 9,125;
North western, 10, 465; New Jersey Central. 10, 500;
New York Central, l. ,O7O; Reading, 5,915; St.
Paul, 12,85O; Union Pacific. IA, 76O; Western
Union, Is. $50; Northern Pacific preferred, 3,216.
Government bonds are dull and strong.
State bonds are dull and steady.
The railroad bond market has been ra ther
quiet to day, the total sales being only 81. 568,
900. of which Erie second consols contributed
$S47,OO leaving only 1921, 600 for the rest of the
list. 1t Is generally understood that the
clearinghouse loan committee has practically
disposed of the East Tennessee, Virginia &
Georgia consolidated bonds held On account of
the Metropolitan Bank. The amount was less
than ST., 500, 600, and it is said the price was 90
that negotiations have been practically conclud-
cd for the incomes held by the bank,
the price to be paid being 20. The Stock
Exchange has granted the request of the bond
holders of the Toledo, Peoria G. Western Rail
way Company, that the first-mortgage bonds
should be taken from the list Of Wabash bonds,
and be called on the regular list in their appro-
pirate places as Toledo, Peoria & Western frsts
and Trust company receipts. The application
stated that on Aug. %, 1885, 81, 167, 600 of the
bonds had been deposited, in accordance with
che agreement with the Farmers Loan and
Trust Company.
The feature of to-day's stock market has been
Che heavy decline in Union Pacific, accom-
- H. ~@-- ls-- = 49,
the sales aggregating "A, 76O shares, or
over 81 per cent. of the days business
in all stocks. The early publication of the Union
Pacific statement for the month of July, showing
o loss in gross earnings of $40, 709, at the same
time that there was an increase in operating ex-
penses of $751;, 1893. making the total loss for the
month. as compared with the same time last
year, 1928, 30S. has a depressing effect upon the
price, and everybody appeared willing to sell
both for the long and short account, and all that
the market would take. After opening at 49a
there was an advance Of per cent,
and after that a persistent decline,
which continued until late in the
afternoon, when the price touched 472, and in
She last hour | per cent, closing with a net loss
81 II per cent. 1t is said that the earnings for
August show even a heavier decrease than that of
July. President Adams has been in the city all
day. and it is understood most of the time has
been spent in conference with fnanciers here,
the object of which is supposed to be to arrange
some important loans for the company.
1t is said that the company has been
borrowing. from banks in Connect
cut and other places where the
loans cannot be easily traced. The general
market was about steady at the opening, and
the first sales were accompanied by An advance
of ! to ! per cent, but were quickly followed by
n general selling movement, which continued
until the middle of the afternoon. AS a rule the
highest prices of the day were made Just after
the opening, and the lowest prices about 1890
!. NJ. A few of the active stocks fell more than
] per cent. and Jersey Central declined
q, Reading q, and Lackawanna Il.
After 1:30 there was a decided rally,
during which, in some cases, the earlier losses
were recovered, an1 lie market finally closed
about steady, and within small fractions of last
evenings final figures. except Jersey Central,
which is down Il. Reading Ii, Manitoba II, and
G., b. & G. l. Minneapolis & st. Louis pre-
ferred also lost 2 per cent. of yesterdays gain.
Delaware & Hudson sprang into activity in the
last hour, and closed with a gain of !. Lacka-
wanna is also up 3, and Omaha preferred !. OF
the roads reporting earnings to-day for the
month of August. only one shows any gain. and
that Canadian Pacific.
The market closed with the following prices
bid: