The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-20
CONDITION OF THE MARKETS
all Commodities Very Dull and the
Markets Utterly Devoid of Interest.
4 Weaker Feeling in Wheat, Caused by the
EE Prevailing Storm-Corn Shade
Easier-Proyisions Very Heavy.
MONEY, BONDS AND STOCKS.

gmall transactions in Railway Bonds-The
Stock Market Dull but Firm.
NEW YORK, Feb. l9--Money on call was
sasy at II a. per cent
Prime mercantile paper, 405 per cent
Sterling exchange was unchanged.
The total stock sales to-day were, 57l,l7S
shares, including the following: Canada South
srn, $780, Central Pacific, 3,610; Delaware.
Lackawanna s. Western, l43 40; Delaware &
Hudson, Is, 430; Erie, 1920: Kansas e. Texas,
10, $50; Northwestern, IL, 945; New Jersey Cen
trail, 17,400; New York Central. $780, Pacific
Mail 50.505; Reading. 1910; st. Paul, 81, 225;
Texas Pacific. 4500 Union Pacific, 81, 282 West
ern Union. 685; Northern Pacific preferred,
N.95O, Oregon 6 Transcontinental, GIGS; Louis
lille & Nashville 1850.
Government bonds were dull and steady.
State bonds were dull and steady.
Railroad bonds were neglected The total
sales were only 81, 721, 0O0 Prices sympathized
with the movement in the stock mark espe-
eiallyfo the speculative issues, which W, weak
in the morning and strong after midday. The
result of the days operations is irregular changes
In quotations.
The raid on stocks was renewed this morning
with great vigor. The opening prices were very
irregular. although a majority of stocks were
to 4 lower while Pacific Mail was down Il.
Soon after the opening drive at the whole list
was made with special attention given to Pacific
Mail, Union Pacific aud Lackawanna 1t looked
for a long time as If the whole capital stock of
tie roads was being dumped on the market in
heap. The sales of Lackawanna for the first two
hours amounted to about $4,000 shares, and the
trading in the whole list during the same time
I'D 60, an, ARA oxy'a hGl-
ness-3l4, 900 shares. The heaviest decline in
the forenoon was in Lackawanna. which, after
opening at 1907, sold at 131 and then yielded to
1873: Delaware & Hudson fell 3 per cent; Pacific
Mail. %; Union Pacific, 81; Jersey Central Is,
and Western Union, Ii. The trunk-line shares,
the grangers and Erie were somewhat less active
and comparatively strong, yielding only frac-
tions. The lowest figures of the day
were generally made before noon, and
gfter midday considerable business was devel
ssped, which continued until o'clock. The shares
which were conspicuous for their weakness in
the forenoon gained only part of the losses
then established. The break in the morning was
accompanied by food of rumors, all more or
less vague. but all going to show that serious
trouble had been developed in the Reading re-
organization scheme, the rumors going so far as
to allege that the syndicate had loaded up with q
heavier surplus stock during the recent advance
than It found itself able to carry. and that it had
bsen forced to sell a part of its holdings.
Another cause for the rumor was due to the fact
that the price of Pacific Mail touched number
of stop orders before it reached the lowest figure
which only increased the sales of that stock. and
led to the general decentralization. The rumors
were of more favorable character after mid
day. Seven railroads reported earnings for the
second week of February, all showing gains
ranging from small amounts to over $40. 000
These Included Canadian Pacific, Omaha Chicago
g Alton, and Louisville e. Nashville. The latter
has been reporting heavy decreases for long
time past until to-day. The afternoon trading
was less active especially late in the day. and
the market closed generally dull and firm
The market closed with the following prices
bid: