The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-21
CONDITION OF THE MARKETS,
Wheat Opens Strong, but Values De-
cline and the Market Becomes Heavy.
Corn Rules Weak Under Very Large Offer
ings. and Prices Decline Slightly-Provis-
ions Inactive, Quotations Ruling Weak.
MONEY, BONDS AND STOCKS.

Socks Strong but Q~uiet-Railway Bonds 0Hly
Moderately Active.
NEW YORK, Oct. 20-Money on call was act
Ive,, ranging from 4 to 8 per cent, closing at A
as per cent.
Prime mercantile paper 405 per cent.
Foreign exchange was dull but steady and I'M
changed.
The total sales of stocks to-day were 433,653
shares, including the following: Canada South
ern, 1850; Delaware, Lackawanna d Western.
3d. 700; Erie, %, 100; Kansas O. Texas. 9,409;
Lake Shore, 27,760; Louisville & Nashville, TO-
277; Michigan Central, $50; Northwestern, 3,400;
New Jersey Central, $3.50; Northern Pacific,
6,775; Reading, Sc, 730; ST. Paul, II 1905; Texas
6 Pacific, 10, 400; Western Union, 20, 230; North
ern Pacific preferred, II, 932; Oregon & Trans
continental. 24,195.
Government bonds were dull and firm.
State bonds were dull and steady.
Stocks showed more strength than for many
days past, although quiet and with very little
feature beyond the weakness in Reading.
Prices slowly advanced until the middle of the
afternoon, when everything yielded, and Jersey
Central was particularly prominent in the de-
cline which followed. There was some London
bCAlA6k Vi ~ obo ohs l. oaA Ak eHO N0hAg
morning, and large buying Of Lake Shore at the
same time. A rumor was circulated during the
day that the Union Pacific was to secure the
Oregon Navigation through the Oregon Short
line, and all the stocks Interested advanced
under the influence. Oregon & Transconti-
mental was a feature, and under heavy buying
remained comparatively firm throughout
the aAy;--Prices at the opening
were higher in q majority of
cases. though Reading was off !, While there
UuS a0noo Slipht haaVineSa in the early trading.
the market soon rallied, and Manhattan, Jersey
Central, New England and c., c., c. Il ]. made
material advances. The rise was checked
toward 2 P. NJ, and Jersey Central took the lead
In the decline which followed The early gains
were wiped out and final prices are at or near
the lowest of the day, the market closing weak.
Sales, 1873, 653 shares; Reading furnished 56, 73O,
and Jersey Central 36, $40. Almost everything
is lower tonight, the few final advances being
for insignificant fractions only, while Jersey
Central is off "a; Nickel-plate, preferred. q;
the common, 10; Western Union and Pacific
Mail, each, II; Reading, ], and others fractions.
Railroad bonds were moderately active; sales,
81, 948, 900. Atlantic & Pacific incomes contrib
uted 1895, 900. Missouri, Kansas & Texas gem
eral skies displayed unusual strength, and are
] per cent. higher, at 99a. after selling at par.
Their sales for the day were $l76. 900. Prices
were irregular, being generally Arm in the morn
ing ana weaker later on. Jersey Central con-
vertibles are up 3 at lilo; Kansas Pacific frsts,
of 1896, %. at 1123; Alton & Terre Haute, second
incomes, 2, at 108; Detroit, Mackinaw & Mar
Guette frsts lost 2, at SO; Chesapeake & Ohio,
series B, coupon off. q, at 75A. Closing quota
tions were;