The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-21
CONDITION OF THE MARKETS
Fairly Active Trading in Wheat, but
the Feeling Was Rather Unsettled,
The Market Finally Closing Steady and Slight.
Iy Higher-COrn Weak and Unsettled
Provisions Irregular and Lower.
MONEY, BONDS AND STOCKS.

Unusual Activity and Considerable Excite
ment In Stocks-Railway Bonds Quiet
NEW YORK, Sept. 20.-Money on cali was
active at 489 per cent, closing at 5.
Prime mercantile paper, 405 per cent
Sterling exchange was quiet but steady at
$4sl for sixty-day bills, and $4.84A for de-
mand.
The total sales of stocks to-day were GIG. S51
shares, including the following: Canada South
ern, 1924; Central Pacific, 1920; Delaware,
Lackawanna & Western, 82,2l5; Delaware G.
Hudson, 1875; Denver g Rio Grande, 1896;
Erie 81, 4s0; Lake Shore, AZ. 1877; Louisville 6
Nashville, $780, Missouri, Kansas & Texas, "a,
no. Missouri Pacific, 5,O51; Northwestern, 1900,
New Jersey Central, $780, New York Central.
$685. Ohio & Mississippi, 6,235; Pacific Mail "a.
$780, Reading, So. 3l5; ST. Paul, &C. 285; st. Paul
s. Omaha. 1850; Texas & Pacific, 250O7; Union
Pacific, 4.580; Western Union. 81, 1885, Wabash
Pacific, 1885; Northern Pacific preferred, 1851;
Oregon 81 Transcontinental, 1900.
Government bonds we're dull but strong
State bonds dull and steady.
The stock market was extremely active, the
sales being the largest of any day for many
months The trading was accompanied by a
great deal of excitement at times. and prices
were throughout quite fevsrish. Although the
advance seems to be entirely due to the develop
ments in Reading, that stock to-day failed to
reach the highest price attained on SATURDAY.,
and finally closed bat small fraction above the
final figure of last week. This stock also as
sumed secondary place in the dealings, Lack
Rwanna coming to the front on heavy purchases
by insiders, which helped by rumors of an
increase in the dividend, in consequence of the
present heavy earnings of the road. Western
Union was also chief feature. and rumors of a
settlement with the Baltimore g. Ohio
were again revived. The Vanderbilts were
notably strong, and Lake Shore was partic-
ularly active, there being considerable trad
ing in it. The grangers were remarkably
quiet, although there was squirt in Omaha just
after noon. The purchasing was to large ex-
tent, entirely new buying, and, although there
were heavy realizing sales during the day, the
demand was SO great that marked advances were
made over the whole list Reading, Lake Shore
and some others of the trunk-line stocks were
sold heavily for foreign account at one time and
Pacific Mail was broken over l per cent in the
afternoon by heavy realizing.
The recorded transactions are probably much
below the actual business done, the sales of. the
first hour being larger than those of the frst two
hours on Saturday. The opening was strong at
advances over the closing figures of Saturday
ranging from to per cent, the latter in Della
ware 81 Hudson and Canada Southern, while
Lackawanna, Western Union and Texas Pacific
were up per cent EACH In the early dealings
there was considerable irregularlty in prices,
which, however disappeared toward noon, when
everything moved up in unison. Lackawanna
advanced sharply in the afternoon, accompanied
by Western Union and Omaha, but the break in
Pacific Mail checked the general advance for
short time, though it afterwards recovered hand
somely. There was again heavy selling in the
last hour, which caused reactions in some stocks
and held others down to the prices already at
tanned The market closed barely firm. The
recorded sales for the day were 626 951 shares,
Lackawanna contributing SO, 2l5, Reading g. SIS
and Western Union 81 l53 The most notable
advances Western Union %: Lackawanna
q. and Texas Pacific, Il
Railroad bonds were quiet The sales amount
Cd to 81, 3l6,000 Prices we're firm to strong dur
ing the first hour, but afterwards barely held
their own, and in few cases declines were
made Closing quotations were