The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-08-03
CONDITION OF THE MARKETS.
Good Export Buying Causes a Moderately
Firm Feeling in the Wheat Pit.
Corn Very Steady, with the September Option
Commanding the Higest Prices-Proyis-
ions Show More Firmness than Usual.
MONEY, BONDS AND STOCKS.

Railway Bonds Quiet and Generally Firm
Stocks Active and Higher.
NEW YORK. Aug. Money on call was
easy at204 per cent.
Prime mercantile paper, 4a5 per cent.
Sterling exchange>was dull at 81 s4a for sixty
days and 81 SO for demand.
The total sales of stocks to-day were 239, us
shares including the following: Canada South
ern, 500; Delaware, Lackawanna q Western,
1925; Erie, $3.50; Kansas q Texas, ZOO; Lake
Shore. 1870; Louisville 6 Nashville, 5000;
Michigan Central 4O75; Northwestern. 1855;
New York Central, 6.269; Pacific Mail, 9,645;
Reading, $500; st. Paul, IS, $40; ST. Paul &
Omaha, 4, 700; Texas Pacific. 11,61o; Union Pa
ciac, 19, ZIG; Northern Pacific preferred, IL, 40.
Government bonds were quiet at unchanged
quotations
State bonds were dull and firm.
Railroad bonds were quiet and generally firm;
sales, 81 ,876, 500. There was only one conspicu-
ously setive bond, the Texas 6 Pacific Rios
coupon off, in which the sales reached $3.50, 000
Final figures though generally higher are sell
dom advanced more than fractional amounts.
There was almost no news of character to
affect values received to-day: but rumors were
plentiful, and their effect was almost inva-
riably to enhance values The Vanderbilts, with
the exception of the Lake Shore, were
quiet in comparison with the dealings
OF last week, but other stocks soon
came to the front and a moderate days
business resulted. A story was early put in cir
culatien that Union Pacific had purchased con-
trolling interest in Oregon Navigation. free
covering of shorts followed, and the stock adj
yanced over per cent. within one hour. The
story was afterward denied but little Of the ad-
vance was lost The grangers also displayed
their old-time activity, and are materially higher
tonight. The buying of these stocks is aener
ally attributed to influential New York parties,
and by some to the Chicago party, sub rosa.
The Northern Pacifcs also advanced, on the
belief that Congress would do nothing the
forfeiture bills. The room. traders were ranged
on the ''bulr' side, and considerable short stock
was purchased, which materially helped
the advance. The market opened with first
prises. though irregular. in a majority of cases
I to higher Western Union was the only
notable exception. opening down ] per cent
Trading was quiet fer the frst few min
utes, but the buying in Union Pacific stimu-
lated trading over the whole list, and active
and strong market followed until noon. The
market then became quiet and prices continued
about steady until the last hour, when another
slight advance occurred, the principal feature
being the trading in Cleveland, Columbus, Gin
cinnati & Indianapolis, which advanced over 2
per cent upon inside buying, and the market
closed strong at about the highest prices of the
day Everything on the active list, except
Western Union, is higher tonight and st. Paul,
Michigan Central and Canada Southern are each
up IL per cent, aud other stocks fractional
amounts Closing quotations were: