The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-02
CONDITION OF THE MARKETS.
Wheat Shows a Good Deal Of Strength,
butKeavy Offerings Cause a Decline.
Corn Rules Steady and Firm Under Light
Speculative Trading-Proyisions Moder-
ately Active, with Unsettled Feeling.
MONEY, BONDS AND STOCKS.

Stocks Active at Lower Prices-Bonds Alter
nately Steady and Weak.
NEW YORK, Oct. Money on call loaned
from to 7 per cent, closing at asked.
Prime mercantile paper, 405 per cent.
Sterling exchange was dull at ST. 80 for sixty
day bills, and 81. s44 for demand.
The total sales of stocks to day were AS. 1856
shares, including the following: Canada South
ern. Is, 800; Central Pacific, 1901; Delaware,
Lackawanna 6 Western, 25,620 Erie, a. 6S5;
Lake Shore, 3d. 22O Louisville 6 Nashville. 9,77O
Missouri, Kansas & Texas, 20, 785; Michigan Cen
trail, $780, Manhattan Consolidated, 3, 700; North
western, 9,613 New Jersey Central, IL, $50; New
York Central, 12,368; Pacific Mail, IL, 500; Read
ing, 5O,26O st. Paul 43, ITO; St. Paul 8 Omaha,
6.S25; Union Pacific, 1850; Western Union, 49,
418; Northern Pacific, preferred $685.
Government bonds were dull but strong.
State bonds were neglected
The confidence existing in higher prices for
stocks last evening was shaken this morning by
an industriously- circulated story that the Penn
sylvania road had withdrawn from the Trunk
line pool Another rumor stated that Commits
sioner Fink had resigned his position as COM
missioner of the pool, but it was afterward
learned that he had resigned as arbitrator only.
The rumors and news, such as they were.
caused pressure to sell, the sentiment on the
board having undergone sudden change, and
the room traders sold everything, thus helping
the downward movement. With the ex-
ception of a slight rally toward IL
o'clock, the decline was almost continuous,
until after noon, when better understanding
of the situation caused a reversal of the general
sentiments and movement was made to buy
back part of the stocks thrown over in the early
excitement, and the general tendency of prices
for the remainder of the day was upward The
trunk line stocks naturally were the largest suf
ferers, though New York and New England was
specially weak in the morning, but regained its
loss in the afternoon. Prices at the opening
were irregular but generally higher. the advances
ranging from to !; New England, however,
was up Il, and Michigan Central l. few fur
Their slight advances were made in the early
dealings, but the whole market soon weakened
and declines ranging up to Ii were established
in the first hour A slight rally was followed
by another decline. which was checked after
IL o'clock, and the market became gener
ally firm, slight fractions being regained.
1t closed firm, close to the lowest of the day.
Sales, 445,33 shares. Lake Shore furnished
S. 800 and Reading so, $50, followed by ST Paul,
Erie and Western Union in the order named.
Almost everything is lower, Lackawanna lead
ing with Il per cent Manitoba lost !. Other
declines are for fractional amounts. New En-
gland is exceptional in showing a net gain of Z.
The trunk line and express difficulties caused
heavy unloading of Erie seconds day, the
sales Of those bonds aggregatng 81, 094 900. out
Of total days business of $2,524OOO They
opened at 10la, and sold down steadily to SO,
steadied at that price. but later fell to 984,
finally recovering to and closing at 99s. There
was no other feature and prices .hz zc
with t1s -: :..:aing IN stocks. being weak in the
forenoon aud steady for the remainder of the
day Final prices generally show declines.
Closing quotations were;