The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-12
CONDITION OF THE MARKETS,
Wheat Goes Below Seventy Cents and
Closes with Very Heavy Feeling.
Corn Also Declines, and Oats Are Dull and
Heavy-Light Trading in Provisions, Ac-
companied by Slight Fluctuations.
MONEY, BONDS AND STOCKS.

Increased Activity in Stocks, Accompanied
by q Firm Market and Better Prices.
NEW YORK, Oct. 11.-Money on call was act
I've at DO per cent, closing at asked.
Prime mercantile paper, 405 per cent
Sterling exchange was quiet and weak; actual
business was done at $4sl for sixty-day bills
and 81 81 for demand.
The total sales of stocks to-day were 460, $40
ern. 81, 425; Central Pacific, 3040; Delaware,
Lackawanna 8 Western, 14,4O0; Erie. 2l,440;
Kansas & Texas, 1850; Lake Shore. 2l.9l0;
Louisville 6 Nashville, $3.50; Northwestern
$500; New Jersey Central, $3.50; Pacific Mail
39, 700 Reading. 80, 355; St Paul, 36, 440; ST.
Paul & Omaha, 1925; Texas 81 Pacific, 22,650;
Union Pacific, 3,24O; Western Union, g. 445
Northern Pacific preferred, 6,905; Oregon &
Transcontnental $500.
Government bonds were dull and weak.
State bonds were dull and steady.
Stocks opened active Pacific Mail was sold
heavily, and the persistent hammering of this
stock finally affected the entire list. The talk
Of an opposition line by the Canadian Pacific
has shaken out many weak holders, who have
been waiting for q settlement of the transcont-
mental difficulties. A report was started that
the labor troubles had extended to the Erie, and
the lack of confidence in the favorable outcome
of the conference of railroad officials at Chicago
together with the rather disappointing report of
earnings from that quarter created depression
in the market Later in the day 1t an
nounced that there was brighter prospect for
an agreement at the Chicago conference,
and the market responded quickly. New
England was the strongest stock on the
list, reports of an excursion over the road by
certain officials helping the rise. Reading and
Western Union were extremely active, although
there was nothing of nature to affect values in
either of them. There some activity among
the erangers but they were heavy throughout.
The opening was strong first prices generally
showing advances of from TO per cent. over
the closing figures of Saturday, although Omaha
New England and Union Pacific were each down
per cent. The features Of the trading were
New England, Texas & Pacific, Western Union.
and Pacific Mail. They were all strong, except
the last. and the general market was
firm. Before noon, however, it began to yield,
and Reading became prominent. The decline
continued with comparatively quiet trading
until the last hour, when the entire list
rallied and the market closed firm at irregular
changes compared with Saturday evening. De-
clnes are in majority tonight but with the
exception of Pacific Mail, which is down 2 per
cent, Delaware & Hudson, Ii. and Cleveland,
Columbus, Cincinnati & Indianapolis, 1t per
cent, they are for fractions only. New England
IL MP II per cent
Railroad bonds were less active. The total
sales to day aggregated ST. 569, 900, of which At
lantic & Pacific incomes furnished $457. 000
There was very little change in quotations in the
general list, but advances predominated. There
some interest In the Indiana, Bloomington
b Western incomes, and the Texas q Pacific Rio
trust receipts, but the remainder were quiet and
feAtureless. Closing quotations were: