The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-15
CONDITION OF THE MARKETS.
Wheat0p ens Heavy, Rallies Slightlyand
Resumes Its Downward Course.
J Good Inquiry for Corn at Prices Practically
Unchanged from Those of Monday-Pro-
visions Active and Prices Higher
MONEY, BONDS AND STOCKS.

Stocks Feverish and Unsettled, Though q
Slight Advance Is Reached In Prices.
NEW YORK, Dec. 14-Money call was active at
1925 per cent. closing at 25 bid
Prime mercantile paper, 405 per cent.
Sterling exchange quiet. but steady, and
SAanged.
The total sales of stock to-day $40 434 shares
E4cludng the following: Canada Southern, Is GAO;
Delaware Lackawanna s. Western, A, $50; Erie a.
BIS; Kansas & Texas, $500; Lake Shore %, O3O;
louisville s. Nashville, 81, 765; Missouri Pacific;
8,457; Northwestern, $3.50; New Jersey Central,
$4,000; New York Central, AGO. Pacific Mail,
4,4OO; Reading. $1,000; ST. Paul, IS. 200; st.
Paul & Omaha, $3.50; Texas Pacific, 1900; Union
Pacific, 20,80o; Western Union, So 795; Northern
Pacific preferred $3.50; Oregon Transcontinental,
1923; Richmond s. West Point, 6,750; Hooking
Valley, LABS.
Government bonds were dull and steady
State bonds dull and steady.
rhe stock market gave promise of some improve.
ment in the early hours, but was feverish and
unsettled to large extent, although quotations ad-
yanced Later the bidding up of money to an ex-
fremely high rate offered another opportunity to the
'sbears" to vigorously raid prices and decided
slump bordering panic was the effect in the last
hour. The unsettled condition of New England kept
6he market feverish and irregular, when it would
3ave otherwise been firm to strong. The Southern
speciates, by their enormous declines, coupled with
Yelling of New England by the Boston people, were
She principal features of the afternoons trading.
The Favorable factors in the situation the steady
buying for foreign account which specially notice
able in the forenoon and the further drop the rates
Scr sterling exchange. All such influences however
counted for naught in the rush to sell in the afternoon
In the morning there some improvements Jersey
Central on the announcement that the Baltimore g
Ohio now using the road under the contract and
thWstocks bought by the foreign people prom
nenty strong including Reading Erie and Louisville
81 Nashville The Boston party threw New England
upon the market in large amounts when it became ap
parent that the control would pass into the hands of
the New York party. At the same time advantage was
taken of the absence of the principal supporters of
the stock, by the bears and room-trsders to
aver per cent. The opening was active
and strong although there was an absence of
che usual rush at that time of day. Advances over
lest evenings final figures ranged from le to o.
though few stocks showed slight declines. After
some sigat hesitation an advance occurred covering
broke badly, however and in many cases. under its
ipfuence the early gains were lost. Toward noon
the upward movement was resumed, and at that time
fractional advances were general throughout the list
In the afternoon, however, general decline
took place, the Southern stocks leading which was
was 0'' Followed b. Renewed n. siSa.
and in the last hour the decline became
semipanc- About ethird of the entire day
business was transacted in the last fortyve minutes
and the market closed very active and weak at the
Heading furnished SS 96O New England, 40 S75
I4ackawanna, A $50; St. Paul SO, 200; Louisville
- Nashville 81 765; Erie 34.375. final prices
show aterial declines throughout and Chattanooga
leads with decline of 22i9 per cent: Tennessee Coal
22i New England, 6ls; Norfolk & Western preferred
37s: Louisville & Nashville 3l4; West Point, 3ls;
Canada Southern 23s Reading 2.
The trading in railroad bonds moderately act
i've and without special interest except in Erie second
sonsols IN which the sales 1929, 000 Texas Pa
eifc incomes sold to the extent of $ll6.0 900.
sehe total sales were 81. 375. 900. Prices
we're generally heavy, although there were
some recoyeries late In tho day. the move
rneht at that time being very irregular and final
changes are about equally divided between gains and
Ii at 9sl2 Green Bay rsts gained q at 90: Louis
vile, New Albany Chicago frsts, 2, at 111 Next
eaE l=2tval fours, 7ls, at So Closing quotations
verG