The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-07-17
CONDITION OF THE MARKETS.
The Depression in Wheat Results in a
Very Dull and Featureless Day.
Ghe Fluctuations Very Small and Business
Light-Corn Slightly Easier-ProvisiOns
Easy, with a Lower Tendency.
MONEY, BONDS AND STOCKS.


Railway Bonds in Fair Request and Frac-
tionally Higher Upward Tendency in
Stocks.
NEW YORK, July 16-Money on Change
ranged from II to per cent, closing at II per
cent asked
Prime mercantile paper 405 per cent.
Sterling exchange was dull at $4 S.. for sixty
days. and 81 873 for demand.
The total sales of stocks to-day were 239. s42
shares, including the following: Delaware,
Laekawanna e. W estern, 30, 245; Erie. $3.50;
Kansas & Texas, 5,435; Louisville & Nashville,
1000; Northwestern, 10, 400; New Jersey Central,
6,610; Pacific Mail Ii ,025; Reading 1905; St.
Paul, "a, SAC; ST. Paul 6 Omaha, $780, Union
Pacific, 1870 Western Union, 81, $50.
Governme Mt bonds were dull but firm, with
the fours strong and in demand
State bonds were dull and steady.
Railroad bonds were In fair request; sales,
81 10000 The Texas e Pacific issues were
again feature, the Rio Grande skies, coupon
off, selling to the amount Of 1874, 600, and the
land grants $3.50. 000 There is considerable m
certainty about the doings of the different COM
mittees formed to reorganize the Texas & Pa
ciie road but holders of the two active issues
mentioned above feel confident that they will
appreciate in value, matter which plan is
adopted Closing prices generally show advances.
Houston & Texas general skies are up 2, at 68;
Texas d Pacific terminal skies u, at 42a. Cen
tfal iowa, eastern division, SKIES are down 3,
at 81.
Stocks opened with more decided feeling in
favor of higher prices, more harmonious rela-
tons with the Chicago & Atlantic serving to
help speculation in Erie. Extensive buying for
London account was also factor in the rise of
the morning Sterling exchange rates were re-
duced on account Of better supply Of bills
drawn against securities lately purchased in this
market, but the latter fact was lost sight of
when the market became too top-hsavy to suit
the leaders, and prices were let down toward
midday, the market sinking into the usual mid
summer dullness until Western IrIr<,,,,n was
aea.m .s.avn nold or and lifted the entire market
Following. The weak spot of the market was
Lackawanua which was attacked from
several different quarters at once, and
dropped quickly over l per cent. A noticea-
BILE feature Of the decline in this stock,
however, was the small lots traded In
After the movement IL Western Union the mar
ket went along slowly and closed about steady.
It is largely believed that the s'shorts" were ma
terialy reduced yesterday, and there were heavy
realizatons to-day, making the near future
somewhat uncertain. First prices were gener
silly to per cent. higher than last evenings
closing figures, but Erie was up l. Northwestern,
&, and Reading per cent. Prices fell off gen.
orally slight fractions. Lackwanna was con-
spicuously weak, but the decline was soon
checked and rally fQewed, the losses being
generally recovered by midday, when Western
Union made an advance. In which the remainder
of the list sympathizsd, the best prices of the
day being reached near p NJ. Later the market
ular changes from last nights figures Closing
prices generally shade lower, Erie preferred
however, being up per cent Closing quota
tiops were: