The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-10-04
CONDITION OF THE R K
A Day of Great Excitement in the Grain
Pits of the Chicago Board Of Trade.
Wheat Absorbs the Lions Share Of Attention,
Prices F~lnctusting Widely on Light Bus
iness-corn Excited and Higher.


York, with Fractional Declines.
NEW YORK, Oct 3.-Monsy on call was
easy at2a3 per cent, the last loan being made
at q, closing offered at q per cent
Prime mercantile paper, A q per cent.
Sterling exchange was dull bus steady ut
a so} for sixty dsy-bills and s4.S7A demand.
The total sales of stocks to-day we're 3o7. l4l
shares, including the following: Delaware, Lack
awapna & Western. ISIS; Erie, $3.50; Hook
Ing Valley, 5,935; Lake Shore, 7.52o; Louisville &
Nssh,IIIr, s,zII; Missouri Paci6c, 4,765; North
western, 9.4oo; Northern Pacific preferred,
$3.50; Oregon Trspscontirentsl, 5.425; Read
ing, 81 $50; Richmond & West Point. 81, 100;
St Paul. 80. 500; Union Pacific. 25,560; Western
Union, 1850; Wheeling & Lake Erie preferred,
1910.
The stock market was less active. but was still
fevsrish and unsettled, and the decline begun
yesterday made further progress. though the
Losses are generally insignificant There was a
marked disposition to hold OF until the settle
mens of the wheat deal and some OF The other
questions of the financial world shall have made
the outlook o little clearer, and the bears
seemingly bad everything In their own hands.
Bat the list showed q remarkable rseup-rative
power Whenever the pressure was lifted. and To
the unusually firm undertone the feverish con-
dition OF the market MAS in o great measure
due. The unsasiress in the Boston market,
caus ed by the further break In Atchison this
luOfulIks VtDHkHt soBF tEilDk VI IoA kaE
center to-day, and there was also . liberal batch
of selling orders from Chicago. who're the wheat
deal Is now uusettling confidence. These ahalre
encourage the bears" and it was reported that
several failures had occurred in the !ast-named
place though the CONTRADICTION OF this a.terward
went far to make the afternoon rally. 1t was
positively asserted, and obtained some believers,
that the Bank of England would advance its
rate Ut discount tomorrow. which also lad az
effect upon values The only influence for good
Anpf1O fhA Aar Ua1 shz h4ak-dn0n hv thA NfekQl
plate in regard to the advance In east-bound
freigh, rates and the appearances Of London In
this market as q buyer again. though the pur-
chsses of the latter were of no great importance.
Fluctuations were comparatively narrow, MOST
of the active stocks being traded In over a range
os less than j Der cent, and the decided move
msnts we're very few. The leass of the Eas,
Tennessee by the Richmond & DsnviIle
still bad a stimulating effect upou Rich
moad & West Point, but is was, only
able to hold its own. Reading, New England,
Union Pacific. and ST. Paul were tho active
stocks. bat with the exception Of Union Pacific,
no strength was shown IN any OF them, while st.
Paul was quite weak In the forenoon. the selling
being attributed TO Chicago. Hooking Valley
was the strong feature. aud, with Oregon I'm
provement, advanced sharply on q very moder-
ate business The frst sales this morning were
made ct irregular changes from last evenings
prices, though the differences extended only to
: per cent Considerable strength was SHOWN
In the early trading. but soon after
IL o'clock the list began TO show
signs Of weakness. and while there
was no special weakness anywhere in the list,
everything Yielded slowly. while the volume of
business. which during tho forenoon had been
moderately large, steadily decreased, and dur.
ing the last honr had become quite dull Prices
declined until toward delivery hour, when there
was q reaction. and the remainder of the
day was devoted 90 recovering . por-
ton of the losses. The close WAS dull
but frm. generally at small fractions below
the opening figures Oregon Improvement
advanced u per cent. end Hooking Valley Ii.
End Q few others small fractions, and while the
declines are in a large majority they are con
fired 20 small fracuons, with the one exception
of Chicago, Burlington & Quincy, which lost
per cent
The railrod bond market was again moderate
" a-t,vs to-day. he sales OF all issues reaching
81, s49. 600, cut of which the Richmond q West
Point Trust SKIES furnished $3.50, 900; the Rich
mobd * Allegheny r-ceipts, $3.50. Geo. and the
West Shore tours. Sl32, 900. The activity in
those iasuss. however, was the only feature oil
the day, though Fort Worth & Denver frsts
were prominent at one time. The movements
in the lists were like those Of the share list, be-
inR confined to fractions
Government bonds were dull and firm.
State bonds we're dull and steady. Closine
quotations were: