The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-14
CONDITION OF THE MARKETS.
Wheat Very Dull and Spiritless, with
Tendency Toward Lower Figures.
Corn Quiet and Easier, the Business Being Al
most Exclusively of local Character
Very Light Trading in Provisions.
MONEY, BONDS AND STOCKS.

stocks Continue Their Downward Course,
Shares of All Kinds Joining in the Decline.
NEW YORK, Dec. 13.-Money on call was
active at to 10 per cent, closing at IL bid.
Prime mercantile paper, 405 per cent.
Sterling exchange was dull but steady. at
$780, for sixty-day bills and 81. 83a for demand.
The total stock sales to-day were 611,822
shares, including the following: Canada South
ern. 90, 952; Delaware, Lackawanna s. Western,
$1,000; Erie, SO, 324; Kansas & Texas 1880;
Lake Shore, "a, $40; Louisville 6 Nashville. 49,,
720; Michigan Central. 3. 1885, Memphis & Charles
ton, 1850; Northwestern. 5,S25; New Jersey
Central, 13,440 New York Central, 1856;
Northern Pacific, $780, Pacific Mail, A.
30; Reading, 1880; ST. Paul, 80, $50; ST.
Paul & Omaha, 6, $50; Texas g. Pacific, 12.609;
Union Pacific, Is, 23O; Western Union, $685.;
Northern Pacific preferred 1920; Oregon &
Transcontinental, 1865; Richmond & West
Point, 1850 Hooking Valley, 1880
Government bonds were dull and steady.
State bonds were dali and steady.
The stock market renewed the decline of Fri
day and Saturday, and the losses during the day
were much more general than on any day of last
week. Tho leading stocks felt the depression
throughout, and the specialties were weak. Lon
don prices came higher, but the effect was seen
in only few stocks, the remainder deing decid-
eddy weak. To this influence also may be as
cribed a slight rally early in the forenoon.
There was an absence of the persistent hammer
Ing noticeable during the past few days, prices
declining almost entirely in consequence OF the
magnitude of the selling movement The trad
ing was extremely feverish for most of the day.
Canada Southern was the principal
feature, recording drop Of over
many stop orders were uncovered after some
hammering by the 'bears" Reading, though
first on the list in point of activity, showed a
marked decrease in business. Western Union,
Lackawanna, Louisville q Nashville and New
York Central were all conspicuous, their losses
at one time ranging between Il and q per cent
Among the specialties the great feature was the
drop of 16 per cent in Tennessee Coal and Iron,
without assignable cause, per cent of this
afterwards being recovered The opening
was extremely active. and nearly one
third of the business of the entire day
was transacted in the first hour. First prices
generally showed declines from Saturdays final
figures of to !, though Lackawanna was down
1 per cent. The few gains shown were for in
significant fractions only. Prices went off with
rush in the early trading, and in the first
twenty minutes declines ranging up to q per
cent. recorded Canada Southern and
Reading being the principal features. A frac
tional rally followed but before the end of the
hour the tone was again heavy, and so remained
until toward o'clock, the general market losing
fractions while few stocks displayed weak
ness The last hour was marked by general
recovery. which ranged up to over / per
cent, Norfolk & Western preferred being very
prominent. The market finally closed steady at
the recovery. Sales, Gil, 837 share; Reading,
1880; Western Union, So. S25; Lackawanna,
81, 400; Erie, II, 423; Lake Shore a. $40, and ST.
Paul, 80 800
Railroad bonds were rather more active; sales,
1.556.000. of which Erie seconds contributed
$3.50 900; Detroit, Mackinack & Marquette land
grants, $4,000, and the Denver & Rio Grande
tours, $l42, 600 Prices were heavy to weak
throughout the day. and final gains are very few
in number, a majority of the list showing de-
clines Of fractions Closing quotations were