The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-10
CONDITION OF THE MARKETS
Wheat Opened Flat and Dull, but Ex-
perienceda Change Later in the Day,
Caused by Favorable Foreign Advices, and Re-
newed Local and Outside Buying-Corn
StrOng-POrk Stronger and Higher.
MONEY. BONDS AND STOCKS.


Increased Activity In the Market, Half a Doz-
en- Shares Monopolizing Attention.
NEW YORK, Dec. 9.-Money call was
active at so IL per cent, closing at per cent
asked.
Prime mercantile paper, 405 per cent.
Sterling exchange was weak at 81. 80t for
sixty-day bills. and 81 834 for demand.
The total sales of stocks to-day were 4s4, 988
shares. including the following: Canada South
ern, I0,439; Delaware, Lackawanna & Western.
As, $50; Delaware & Hudson 5000; Erie, $500;
Kansas & Texas, $780, Louisville & Nash
vile, 4.101; New Jersey Central, 7455; Reading,
ll2 100; St. Paul, q. $50; Texas & Pacific. $3.50;
Union Pacific, 1885, Western Union, 1903;
Hooking Valley, 1896.
Government bonds were dull, but firm.
State bonds were dull and steady.
Stocks were a trife more active; but the i'm
provement was confined to six or eight issues,
which monopolized entirely tho interest taken in
speculation. These were Reading, New Eng
land, Louisville g. Nashville, Lackawanna Nor
folk g Western, preferred, East Tennessee
6rsts, preferred, and the New York, Susquehan-
ma & Western stocks. The remainder were
quiet and, in many cases. even dull London
was free buyer, and the fall in sterling ex-
change, which brings 1t to the lowest point yet
touched this year, had material effect in in
treasing the prevalent confidence Of the
street. by reason Of the likelihood of
increased imports Of gold. Reading was
again extremely active, and furnished
nearly one-quarter Of the total days business.
its fluctuations were neither wide nor violent
and all that affected its price was the oft-re-
peated assertion that the reorganization plan
was complete and would be issued in few days.
The East Tennessee and Norfolk 81 Western
stocks were favorably affected by the rumor that
representatives Of the latter had acquired con-
srolling interest in the East Tennessee frsts pre-
TERED. This had depressing effect upon Rich
mond & West Point, which it was supposed
would be left out Of the deal Another rumor,
TO the effect that the latter would be admitted,
rallied its price to last evenings figures. Both
stories. however, lack confirmation New Eng
land was bought heavily in the early morning, it
Is supposed for the account of the New York
best price, but shows a handsome net advance
for the day. The movement in Louisville e.
Nashville continued, its advance being al
most steady until the last hour The for
sign purchases were very prominent in
this stock. Lackawanna displayed more than
usual activity and streneth. The opening was
decidedly strong advances over last evenings
Rgures ranging upto per cent Texas Pacific,
however, was lower. There was the usual de-
crease in activity towards noon in everything
except Reading but prices held strong through
out. There was fractional recession after IL
o'clock. which was followed by further advances.
The bidding up of money, late in the afternoon,
has the effect of depressing prices in the last
hour. and the market closed generally heavy and
weak. Sales. 494, 988 shares. Reading furnished
1l2160 Lackawanna. 45,530 New England, 49,
173 and Louisville & Nashville, III, 0l0. In only
two other cases, st. Paul and Susquehanna &
Western common. did the sales exceed 20, 600
shares Almost everything is higher this even
Ing Chattanooga which was aided by rumors
If scrip dividend, is 81 higher; New England is
nc IL; Louisville s. Nashville, Il; the Milwaukee.
Lake Shore & Western stocks. and Reading, l
per cent EACH
Railroad bonds sympathized closely with the
shares. and there was an advance over the entire
list in the forenoon, which received check later
in the day Sales, So, 229 000 the active issues
being Green Bay incomes. with $261, 900; Texas
Pacific income trust receipts. $l33 600, and Nick
slplate trust receipts, 1892, 900. Final prices
enerally show advances, though some declines
were recorded Houston e. Texas general skies
rcse 2, to 70; Lake Erie Il Western frsts, 8, to
I08; Nickel plate trust receipts. g. to 100; Mis-
souri, Pacific thirds, 3, to 12l; Texas Pacific in
some trust receipts, z, to CO. Closing quota
tons werei