The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-11
CONDITION OF THE MARKETS
Favorable Foreign Adyices Impart q
Strong Tone to Dealings in Wheat.
Corn Active, Accompanied by Higher Range
Of Prices-0ats Dull and Weak-PrOvis-
ions More Active at Better Prices.
MONEY, BONDS AND STOCKS.

Stocks Weak and Feverish, with Declines
Ranging from to Per Cent.
NEW YORK, Dec. 10-Money on call was
active at 1910 per cent, closing at 5 per cent.
Prime mercantile paper, 405 per cent.
Sterling exchange was dull but steady al
a SOL for sixty-day bills, and g. s3a for de-
nand.
The total sales of stocks to-day were $50. 53l
shares. including the following: Canada South.
srn, 1885, Delaware, Lackawanna & Western.
26,74O; Erie, 1929 Kansas & Texas, 10. $50;
Lake Shore. 1S,00S; Louisville & Nashville,
Is. 325; Missouri Pacific, $780, Northwestern,
4,430: New Jersey Central, 16. ITO; Reading,
I21. $50; ST. Paul, %, 73O; ST. Paul 6 Omaha,
1850; Texas & Pacific. 1915; Union Pacific,
27,2OO: Western Union, IS, O62; Oregon & Trans
continental, Alto; Hooking Valley GAGS.
Government bonds were dull but firm
State bonds were quiet and steady.
Stocks displayed unusual weakness, the de-
cent The dealings were feversh, and in the
afternoon were attended with considerable ex-
9itement, Most of the news received upon the
street during the day was of an unfavorabe
character and the professional bear" operators,
with the aid of the room traders, attacked prices
1t every vulnerable point. Realizations of
'Iong" stocks were heavy, and the uncovering of
many stop orders accelerated the decline The
condition of the money market was the primer
pal factor In the movement of prices, further
discrimination against non-dividend paying Sc
curities forcing much ''long" stock upon the
business done, and in the early morn
ing was bought freely for London
account, but the pressure Of stocks
Tor sale afterwards forced it down with the re-
A. H.A 4
movements Of the day was the serious decline in
Missouri Pacific, on comparatively light trading,
which was caused by reports of strike on the
Road aud of trouble with the Wabash. The de
Grease in the earnings of st. Paul caused con-
iderable selling of that stock by foreign
operators. The most notable decline, however,
was in Richmond and West Point. it's extreme
loss being over 6 per cent, for which the
monetary situation is entirely responsible
All the leading stocks participated in the down
ward movements, Reading being the only one
showing any strength during the day A
popularity of the market was that its periods of
comparative strength were marked by
dullnes, while the declines were accompanied by
extraordinary activity. The opening was some
what irregular but strong, advances over last
evenings final figures ranging from to gener-
ally, while Richmond 81 West Point was up
per cent. The market was weak from the open
Ing and declines ranging up to Ii were made in
the first hour halt in the decline followed
noon there was another decided break, which
lasted until $780, Another period of compare
tive dizziness and strength followed but in the
last hour the decline was renewed, though the
market closed on slight rally feverish and
unsettled at small fractions better than
the lowest of the day Sales, 532, 73l
shares Reading furnished 121, $3.50; Western
Union, 49, 062; Louisville % Nashville %, 1926;
Union Pacific, 27200; Lackawsnna, 26, TAO; ST.
Paul, % $780, and New England, 81. 340 Every
thing, without exception, was lower this even
Ing, Richmond & West Point being down 81;
Chattanooga, II: Wabash preferred, II; Louis
vile g Nashville, Il; Canada Southern and
Hooking Valley, each, II; Wabash common.
Western Union, Union Pacific, Norfolk & West
Ell preferred Northern Pacific preferred and
Snsquahanna q Western preferred, each. II;
I4ackawanns. New York Central Norfolk g.
Western and St Paul, each, II, and Texas Pa
site and Pacific Mail. EACH per cent
Railroad bonds were weak in the forenoon, but
covered their tone toward the close, and final
Tices show irregular changes, about equally di-
ded between gains aud losses. Sales, 81, 49,
50, of which Texas Pacific income trust receipts
FINISHED 1885, 900; Wabash. Chicago division,
les, $l29,e coo, and the West Shore fours $1l5,-
Erie second consols and Mackinac & Mar