The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-29
CONDITION OF THE MARKETS.
Wheat Starts in Barely Steady, but
Later Rallies and Closes Strong.
Moderate Trading in Corn, Accompanied by
Easier Feeling-0ats Dull and Unchanged
Provisions Active and Unsettled.
MONEY, BONDS AND STOCKS.

A Better Distribution of Stock Business, Ac-
companied by Higher Prices.
NEW YORK. Sept. 2s.-Money call was quiet at
307 per cent, closing at per cent. asked.
Prime mercantile paper, 405 per cent.
Sterling exchange was quiet but strong at 81. s24
for sixty.day bills, and $4.s41e fer demand.
The total sales of stocks to-day were 456, 444
shares, Including the following: Canada Southern
$780, Central Pacific, g. 735; Delaware, Lackawanna
& Western, $500; Delaware g. Hudson, 1855;
Erie, %, $50; Missouri, Kansas s. Texas. 50, O54;
Lake Shore, 1901; Louisville & Nashville, 90 27O
Michigan Central, 4,5s5; Northwestern, 1875; New
Jersey Central 14,71O; Pacific Mail 33. 1856; Read
ing, 81, 61oi St. Paul, 20, ego; st. Paul 8 Omaha
$780, Texas s. Pacific, 1854 Union Pacific, 49,,
s75 Western Union $500, Northern Pacific, pre-
fsrred z, ITO; Oregon g Transcontinental, 5000.
Government bonds were dull but firm.
State bonds were dull and steady.
The stock market showed somewhat better distri
button, and prices materially higher throughout
the day than at the close last night. New England
continued to be the feature and its fluctuations
wide and at times violent but treached higher figures
than have yet been attained any previous day. and
showed handsome gain at the close The movement
is much, if not of enigma than it has been
at any time but several stories put in circu
laton. all of which seem to be hopelessly conflicting
Ono explanation given Is that the different stories
hating to the Elevated people, the supposed arrange
ments with Erie and the New Haven, simply parts
of one grand scheme which ore put forward by the
separate interests involved. Western Union, Pacific
Mail and Central Pacific were also features In to-
days trading, all being strong and active The
movement in the latter stock upon talk of a
dividend and supposed buying by European parties.
Pacific Mail was bought upon the continued retera-
tion of the assertion that the ranscontnental difficult
ties settled notwithstanding the official denals
Western Union active and featureless. st. Paul
was the only among the grangers showing any
life, most of the trading being credited to Chi
cago people, The early weakness in Reading was the
effect of the unfavorabe statement recently put FORTH
but good buying later in the day for both home and
foreign account enabled il to show slight gain at the
close. The scarcity of commercial bills caused ad
of half cent in sterling exchange but it had
little effect upon the stock market. Prices at
the opening were very irregular Lackawanna being
down L per cent and New England and Union Pacific
up like amount, other changes being for smaller
fractions. Prices hesitated somewhat in the early
out. New York & New England gaining 25s per
cent. The advance eliminated shortly before
noon, and some heaviness was displayed while
the advance in New England was nearly
all lost but il joined the remainder of the list,
and with the exception of small reaction toward the
close the market was firm all the way up, finally
shares-New England, 90, $780, Kansas q Texas So
O54; followed by Western Unien Reading, and Pa
crdc Mail in the order named Everything on the
active list is higher, New York 81 New England show
ing gain of 218; Central Pacific, Louisville & Nash
vile and Union Pacific, 15s each; Western Union
4 81 Jersey Central and Lake Shore 1Ss each Pacific
Mail, 11z St Paul Ils and Tennessee coal, GA
The business in railroad bonds was quiet the only
features being sales of 1902 600 of West Shore tours
In large lots and 1856 600 in Atlantic - Pacific in
COMES out of total business of 81 36O0 600. Prices
were generally firm, although they sagged Oft some
what in the latter partof the day. Closing quotations
were