The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-18
CONDITION OF THE MARKETS.
i Decrease in the Volume of Trading,
& Result Of Uncertainty In New York.
Wheat Fuctuates Within Narrow Limits and
Corn Shows No CHARACTERIZATION Open
Very Weak, but Rally Later in the Day.
MONEY, BONDS AND STOCKS.
The Stock Market Irregular and Feverish
Railway Bonds Quiet and Heavy.

The Stock Market Irregular and Feverish
Railway Bonds Quiet and Heavy.
NEW YORK, Dec. 17.-Money on call was strin.
gent, ranging from per cent. to 1e and interest
per diem. The last loan was made at 3, the market
closing fat.
Prime mercantile paper, 405 per cent
Sterling exchange dull and unsettled at 81 1914
Cor sixtyday bills and $4. 83 for demand.
The total sales of stocks to-day were 5l6 457
shares, including the following Canada Southern
1895 Delaware, Lackawanna s. Western, SO, 600;
Delaware g. Hudson, 1865; Erie, 21.275 Kansas s.
Texas, 9,535; Hooking Valley, 9,0s9; Lake Shore,
1878; Louisville & Nashville, 90, 355; Missouri
Pacific, 4,2S8; Northwestern, $500; New Jersey
Central IL, $50; New York Central 1922; Pacific
Mail. 6,045; Reading. 1873 $50; Richmond s. West
Point, $500; st. Paul, AZ 495; st. Paul g. Omaha
6,470; Texas Pacific S,915; Union Pacific, &c, S7O
Western Union. IA 1876; Northern Pacific preferred
Z, 200; Oregon g. Transcontinental s, 100.
Government and State bonds were dull and firm.
The stock market was irregular and feverish
throughout most of the day. but was generally weak
In the forenoon and stronger thereafter. There was
heavy selling by London in the early morning of the
grangers, Vanderbits, Reading and Erie. This was
supposed to be in consequence of the advance of
Bank of England rate and fear that it might go
higher. The money market worked considerably
easier, rates falling to per cent at the close. The
increased engagements Of gold from the other side
also gave the bulls" here renewed Courage, and they
bought stocks in a spasmodic manner whenever the
selling pressure was removed which gave the market
Its feverish aspect In the afternoon much better
feeling was apparent, and toward the last
hour the upward movement assumed larger pro.
portions, the best figures being generally
reached toward the close. Reading was the great
the total business done, and it was conspicuously
weak until noon. There were many rumors aaoat
but the story Of opposition to the plan by certain
There considerable liquidation throughout the
list but it was generally neutralized by the good buy
ing of the afternoon Some encouragement was de-
rived from the discussion of the New York Central
statement and further reduction In sterling ex-
change rates. The latter, however, are unsettled
which prevents arbitrage business The opening, fol
lowing the advices from London was very weak. the
ranging from ls to e per cent generally
Ia The early rang
remey weak and feveli sh the first ten minutes re-
sordng declines of L to 10 per cent. slight rally
was followed by renewed weakness and under the
cad of Reading prices again moved off materially.
another rally toward noon was followed by another
hort period Of weakness. A decided advance how
aver, took place in the afternoon eliminating about
PM. period of dizziness and steadiness gave way
n the last hour to renewal of the upward move
ment and the market closed generally firm at prices
which in most but slightly under the highest
Of the day Sales, SIG 457 shares Reading furnished
l33 100 shares Iackswsnna 5s, 600 ST. Paul, A.
ty of cases are small fractions lower, compared with
last evening Tennessee coal and iron is up "a; Wa
bash preferred is down 17s and Jersey Central ls
Railroad bonds were quiet and irregular, but were
generally heavy in the forenoon. recovering somewhat
ster in the day. Denver g. Rio Grande fours were a
sature and after selling high as 49, closed with an
net advance of d per cent, at 78 sales of $l21-
900. West Shore fours remarkably strong
throughout, closing LA per cent higher at 1O41 d.
IN sales of $4,000 The total sales were 81, 463.
900. Central Iowa frsts, coupon off, lost 47s, at
S6lsi Chesapeake q Ohio currency skies, 2, at so;
Minneapolis q St. Louis improvements sixes q at 80;
Tort Worth & Denver frsts gained 2, at 80; Norfolk
q Western adjustments pa, at lot. Closing quota
ions
Three per cent bondsl00a Louisville o Nashville 81 50
FopF per cent. bonds. l2S14lL. N A. s. Co.,. go
Four and half per C. 1l014 Mar. & Gin. LIST pref 49,
Pacific 6s OF IS -. l247elMar. q Gin. seconds
Louisiana consols- 49, 81 Mem. g. Charleston. IS
Missouri bs .l03 Michigan Central 02l2
fepn settlement 6s. 100 MINI. q St. Louis 1919
senn. settlement De. 100 MINI. & 81 L. pref az
Renn settemeutSs. 1874 Missouri Pacific 7zs
Central Pacific lists -.I16 Mobile q Ohio 1919
Den. g. Rio g. lists 1l8laI Morris 81 Essex 1888
Den. & r. g. w. 1sts IS Nashville Chat n
Erie seconds. o31s New Jersey Central 81 q
~. x. & 4. gen. 6s. 90 Norfolk & W. pref . 49ia
Drthern Pacific lists IL % Northern Pacific 27l2
1ethern Pacific IDS JOB Northern Pac pref, go "a