The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-22
CONDITION OF THE MARKETS
Wheat Begins the Day with a Heavy
Tore, but Improvesin the Afternoon.
Corn Steady on Moderate Business-0ats Firm
and Shade Higher-Preyision Active
at Better Prices than Those of Monday.
A Day of Violent Contrasts In Stocks, All
Active Shares Making Advances.

Active SnareS MAKING advances.
NEW YORK, Dec. 21.-Money on cali was quiet at
to 6 per cent, closing at 2.
Prime mercantile paper. 405 per cent
Sterling exchange steady at $4 1913 for sixty
day bills, and $4. 1914 for demand.
The total sales of stocks to-day were SOP, 10Y
shares, including the following: Canada Southern
1926 Delaware, Lackawanna Western, 81, ASS;
Erie. 1920 Hooking Valley 9.15O; Kansas &
Texas, 1920; Lake Shore, 1885, Louisville & Nash
VILE 10. 600; Memphis & Charleston, 1900; North
western, 7,02s New Jersey Central 521o; New
York Central, $500; Pacific Mail $685. Reading
100, 300; st. Paul. 1925; Texas 8 Pacific, $780,
ST. Paul & Omaha 3 200; Union Pacific, %, &c.
Westera Union. IL, AS; Northern Pacific preferred
1867; Oregon & Transcontnental s. 280.
Government and State bonds were dali and steady
The stock market offered some violent contrasts
changing In an hour from extreme activity to mid
GUNNER dullness and from decided weakness to great
strength. Nearly half Of the days business was
transacted in the first hour after which period Of
extreme dullness succeeded by a moderately
active market the business of the day finally footing
up fairly large total The liquidation for European
account renewed this morning, but heavy cover
ing Of short contracts after the first few minutes gave
a remarkably strong tone to the dealings. Liquida
tion also largely INDUCED in by the Reading pool
and in the early decline that stock the heaviest
sufferer. The foreign selling however, brought
TO q close DefOr0 noon, ana the pressure being
removed, the Improvement in values gained force
The postponement of the consideration of the
Interstate commerce bill also renewed confidence
to the buying in the afternoon. London sold large
number of the active stocks among VIII ich were Read
ing Erie Louisville & Nashville. the Vanderblts, and
the Northern Pacific. Trading in the grangers was
confined principally to the The coal stocks
active though the coming sep aration of Jersey
Central from Reading had somewhat unsettling ef-
feet The opening was again extremely weak, the de-
enes from last evenings figures ranging from Il to
Il9. The transactions were very large and further
decline established IN the early dealings Reading
being conspicuous with drop of 81 The decline
was checked in the first few minutes how.
was soon displayed, material advances
ever the opening figures being established in the first
hour. There decided lull in the activity shown
upon the elimination Of the first advance and the
market became positively dull in the afternoon prices
remaining steady to firm in the meantime; but toward
p. NJ. the upward movement again resumed
accompanied by larger business and the market
finally closed strong at about the best figures of the
dav Sales, 502 go shares, Reading furnished 90
0O0 Iackawanna 80, 455: st. Paul AZ, sos and
Union Eacifc, 25. 60. Everything on the active
list shows material gain this evening while Tennes.
see Coal is down3 per cent. Norfolk & Western pre-
p. 81; Delaware & Hudson, L.; Canada Southern
Western Union and New England s3s.
The trading in railroad bonds was somewhat larger
and more widely distributed. the sales being 81 327
900. of which the Denver s. Rio Grande fours fur
nished $9l 900, Texas Pacific land grant receipts
$40. 600 and Erie cousols S94 600. There was no
special feature in any of the remainder of the list
Prices sympathized with the movements in the share
market and were lower In the forenoon but recoy-
cred later in the day. Declines however are in
majority Chesapeake Sc Ohio CURRENCY SKIES lost Ole
at 2Sat St. Paul, Chicae@ Is Pacific skies g. to 10:
Houston 81 Texas general sixes pig to 20; Mobile &
Ohio new skies, =, 10 1898. Closing quotations
traa xa, cant honds1 0Oa. IT o,;sy;la g N,sh, c1,