The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-23
CONDITION OF THE MARKETS.
A Weak and Heavy Feeling in Nearly
All the Speculative Commodities.
Wheat Opens Steady, but Free Offerings
Cause Decline from the Figures of
Tuesday-Proyisions Unsettled.
MONEY, BONDS AND STOCKS.

n
ket-Railway Bonds Firm.
NEW YORK, Sept 22-Money on call was
quiet at 406 per cent, closing at asked.
Prime mercantile paper, 405 per cent.
Sterling exchange was steady and unchanged.
The total sales Of stocks to-day were 6SO,614
shares, including the following: Canada South
ern, 1929; Central Pacific, 5,505; Delaware,
Laskawanna & Western, 61,610 Delaware &
Hudson. II, 053; Erie, 1920; Lake Shore, $685.
Louisville & Nashville, 9.735; Missouri Kansas
& Texas, 25, 535; Northwestern, 1885; New Jer-
sey Central Is, $40; New York Central. 1925;
Northern Pacific, 5000; Ohio 6 Mississippi,
1900; Pacific Mail, 1900; Peoria, Decatur &
Evansville, $685. Reading, 10000; ST. Paul,
29,225; Texas & Pacific, 23.065; Union Pacific,
$780, Western Union. 1890, Northern Pacific
preferred S,S25; Oregon s. Transcontinental,
1920
Government bonds were dull and heavy.
State bonds were dull and steady.
Stocks were unusually active, excited and at
NmeE feverish. 1t was the most active day so
Tar for the year. The market gives every indica
ton that the outside public have come largely
Into speculation, and both the buying and sell
were the great feature to-day, and Reading re-
sumed the first place. The sales of that stock
were equal to an average days business three
weeks ago. The stock was favorably affected
by the announcement chat the Pennsylvania
was now In accord with the management, and
London houses, which have been selling for the
past day or two, became heavy buyers. It ad-
vanced per cent beyond the highest point
attained previous to to-day, only small
portion of which was lost toward the close The
other coal stocks were remarkably active and
strong. sll reaching the best prices of the season
Lackawanna was affected by talk of an increased
dividend, but nothing definite could be learned
in regard to 1t. There was considerable London
buying of Lake Shore and Texas Pacific this
morning. The grangers were again sluggish,
and st. Paul was held down by stories of in
creased issue of bonds, which met with prompt
Aeuials The failure of the Northwestern rail
road managers to agree upon the milling in
transit question, also had considerable effect
markedly active for that stock, selling up
about two points. and the East Tonnes
see frsts, preferred and the Susoue-
hanna 8 Western stocks displayed
great strength. The opening was firm to strong
at advances ranging from to !. but Pacific Mail
was down and St Paul !. Trading was active
in the early dealings, but the market was fever
ism and irregular, with the general drift toward
lower prices Toward III o'clock however, the
buying in Reading began, the sales of that
stock for the next hour being &C, 900 shares. It's
advance stimulated the rest of the market, and
gains were made over the whole list. but later in
the afternoon heavy realization carried prices back
to the neighborhood of opening figures. There
was some little Improvement in the last hour
the market closing barely firm. The days busi.
ness foots up 6SO,618 shares. The trading in
Reading reached 176.200 shares. Lackawanna
came nearest to it, with 6l,6l0, and Erie came
next with 1920 Final prices are about equally
divided between gains and losses, although the
latter are in no case for more than fractional
amounts. Reading is up q, Hooking Valley Il,
East Tennessee preferred !, and others fractions
Railroad bonds were more active the sales
being 81, 922, 500. OF that amount the Texas Pa
cifc Rios trust receipts furnished 1924, 000
There was well.distrbuted business in the rest
of the list, but the trading devoid of special
feature. Frices were firm, and final figures gen.
orally show small advances. Closing quotations
weres