The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-07-29
CONDITION OF THE MARKETS.
Another Day of Active Trading in Corn,
Without Marked Advance in Prices.
Wheat Opens Firm, but the Tone Gradually
Weakens and Decline Follows-Proyis-
ions Open Strong and Close Lower.
MONEY. BONDS AND STOCKS.

Railway Bonds Quiet and Generally Firm
More Animation In Stocks.
NEW YORK, July 2S.-Money on call was
easy at 202a per cent.
Prime mercantile paper. 405 per cent
Sterling exchange was dull at "a. 853 for sixty
day bills and and $4s7 for demand.
The total sales of stock to-day were 231, OCT
shares. including the following: Canada South
ern, 3,84B; Delaware Lackawanna g. Western.
1920; Erie. 1O,475; Kansas 8 Texas 3,2OO Lake
Shore, Is, 985; Michigan Central, 16, 240; North
western, 1885; New York Central, Is, no; North
ern Pacific. 5000; Reading, IL 525; st. Paul. %,
0lO; Texas Pacific, Il. $40; Union Pacific, $780,;
Western Union, 1902 Northern Pacific pre-
ferred, 4,689
Government bonds were dull and firm.
State bonds were dull and steady.
Railroad bonds were quiet and generally firm.
The Texas s. Pacific issues were active and
strong. The total sales to-day foot up So, 376 800
West Shore tours were most active, furnishing
H499 000 the sales of Texas Pacific Rios were
1878, 600. The crosssuit for foreclosure of the
Indiana, Bloomington g Western, with the ap-
piicRtion Of the receiver for authority to surren
der the lease Of the Cincinnati Sandusky g.
Cleveland, had q stimulating effect upon the SCI
curities OF the former company, and tonight the
iTsts are 2 per cent higher, at 07 the seconds,
l. at 76 and the Eastern division sizes, l. at 943.
Texas & Pacific land grants are up L., at 48s;
the Rios, coupon of. Q, at 63S and the terminals,
q. at 90. Final prices in the general list are al
most invariably higher.
The trading in the stock market to-day was
marked by more animation than for some days
past, and large blocks Of stocks changed hands.
The Pennsylvania statement for juno showed
such an unexpected favorable state of affairs
that the street readily accepted 1t an index to
the business Of the other trunk lines, and dis
position to buy them was manifested early in the
feature Of the market. The principal buying of
Lake Shore was for the short account. Michigan
Central was purchased heavily by insiders, and
it is said that the earnings for June would show
an increase of about 100000 and that the
company Is now earning about 8
per cent per annum on the stock
In the afternoon there was buying of
Lackawanna by insiders, which advanced the
price rapidly. At the opening this morning first
prices showed irregular changes. but were gen
orally within to per cent. OF last evenings
Anal figures. Missouri, Kansas g Texas aud
Northern Pacific preferred were each down per
cent. In the early trading the unfavorable crop
news and the passage of the forfeiture bill by
the House of Representatives at Washington
created an unsettled and rather heavy market,
but the buying Of the trunk lines soon rallied
the list, and prices continued to advance, with
only slight reactions throughout the day The
market finally closed strong at about the best
figures reached. Final prices generally show
material advances. Lackawanna is up Ii. Lake
Shore and New York Central / each, and others
fractional amounts. Closing quotations were: