The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-24
CONDITION OF THE MARKETS.
Moderate Activity in Wheat at Prices
Lower than Those of Wednesday.
jOrn Weak, Notwithstanding Light Receipts
Limited Demand for 0ats-P0rk Fluct-
mates Slightly and Closes Firm.
MONEY, BONDS AND STOCKS.

Stocks Continue to Advance, Notwithstand-
ing a Heavy Pressure to Sell.
NEW YORK, Sept. 23.-Money on call was
active at 500 per cent, closing at asked.
Prime mercantile paper, 405 per cent
Sterling exchange was quiet but strong at "a. 80
for sixty-day bills, and S. 844 for demand.
The total sales of stocks to-day were 574, 375
shares, including the following Canada South
orn, 10, 100; Delaware, Lackawanna & Western,
@, ITO; Delaware & Hudson, 5.949; Denver & Rio
Grande, 1885, Erie, 127. $40; Kansas & Texas,
A,A65; Lake Shore, Ia. 230; Louisville 81 Nash
vile, 13, $40; Missouri Pacific. 4,465; Memphis s.
Charleston, $3.50; Northwestern, 495, New Jer-
aey Central 16, 975; Northern Pacific 1910; Ohio
B Mississippi $780, Pacific Mail, II, $50; Read
ing, 143, $780, st. Paul, 1866; Texas & Pacific,
$3.50; Western Union 16,520; Northern Pacific
preferred. 627; Oregon g Transcontinental, $500.
Government bonds were dull and firm.
State bonds were neglected.
The strength Of the present stock market was
exhibited to a remarkable extent to-day, for, al
though final declines are In q majority to-day,
special stocks show handsome gains, and this in
the face Of al immense pressure to sell. The
foreign Spectators sold everything this morning,
but principally Reading and Erie, which two
stocks furnished considerably over one-hals the
total business of the first hour, and they con-
tinued to be the feature throughout the day.
The extraordinary large foreign selling was met
by a somewhat larger domestic buying.
The buying IN Reading was largely for
account Of the syndicate, and In Erie
for the new pool in that stock. A great
deal is made Of the benefits which the company
expects TO reap from the coal traffic after the
reorganization Of Reading. The other coal
stocks were comparatively quiet, but Jersey
Central was notably quiet and barely steady.
The Vanderbilts were firm. and especially Lake
Shore, which made some Improvement late in
the day. The stocks of all the smaller coal com
pahies were strong, in consequences Of the effort
TO form q combination among the btuminous
companies similar to that of the anthracite
trade. Notable advances were made in the
Chesapeake 81 Ohio, East Tennessee and San
Francisco stocks. Highest prices were generally
Feachsd in the early part of the last hour. but
heavy raalizations closed the market generally a
shade under the opening For the first time
since the present rise began. the market opened
lower, the declines from last evenings
anal figures ranging from to !.
Reading and Erie were intensely active in the
hFst hour, and both were strong while the gen
eral market sagged off small fractions, but after
the frst hour there was almost continuous
improvementuntil toward the close when prices
moved off rapidly, and the market closed heavy.
The business of the day amounted to 574 37s
shares. Reading furnished 143 100; Erie, 127,
ST. and LackawAnna %, TO- Most OF the active
stocks are lower tonight but In no instance fol
more than per cent, while Erie and San Fran
Disco preferred arc up Il each; Reading, IT, and
some others fractional amounts
Railroad bonds were less active; sales, 81 ,198.-
000 of which Erie seconds furnished $406 900
Atlantic e. Pacific incomes $3.50. 900, and De
troit Mackinac & Marquette $685. The
market was irm, and closed with advances in
most cases. Closing quotations were