The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-09-20
CONDITION OF THE R K
Wheat Opens Weak, but an Occasional
Rally Shows a Range Of About lie,
And an Advance Of That Amount Is Estab-
l~ished-Fsir Trading in Corn, Accom-
panied By Weakness-PrOyisions Dull.
MONEY. BONDS AND STOCKS.
A Marked Increase Of Activity in New Yor
-ish a Strong Clo.in1


A Marked Increase Of Activity in New York,
with a Strong Closing.
NEW YORK, Sept 19.-Money on call was
easy at 2a3 per cent, the last loan being made
at 2, closing offered at 2023 per cent
Prime mercantile paper, 81 S7i per cent.
Sterling exchanges was quiet but steady at
s4.s4s for sixsy-dsy bills, and a. se8 for demand.
The total sales Of stocks to-day were 553, 500
shares, including the following: Delaware,
Lackawanna & Western. a, $50; Erie, IL, 40;
Hooking Valley. 1880; Lake Shore, 7,Oes;
Louisville & Nashville. 6.439; Missouri Pacific,
$500, Northwestern, <4,<4O; Northern Pacific,
3,17o; Northsr Pacific preferred, 1890; Oregon
Transcontinental. IL $50; Reading, 54,53O; Rich
mond s. West Point, $40; ST. Paul, ls3, go;
Union Pas;fc. II, 72o; Western Union, 1l,345.
The stock market to-day was more active than
on any day for q long time. and at the same
time was stronger, even to buoyaney. tho i'm
provemsnt extending right through the list
The feature Of the dealings was The heavy buy
ing Of the foreign houses whose purchases were
measured by the thousands. There was much
SPECULATION - to the object Of the heavy ab.
sorptiou OF St Paul. especially, though the ma
jority OF the habitues of the street set it down
10 The desire OF The foreign holders Of the stock
70 ,IDb8tD Compioto cOQLTO1 ana make changes IN
the board o. directors, aud by some Messrs.
Armour and Plaukinton are believed to DO also
IN the scheme with the Londonsrs. There was
no positive upon the point, how
ever, everything being conjecture The "bears"
were completely demoraiized for the time being,
and 10 their haste to cover their shorts and
get over to the "bulp' side ran up the
price OF the stock over 8 per cent. The
improved outlook among the trunk lines for
harmony, with the late ADVANCED r rates, served
TO bring the stocks OF those lines once more into
prominence. and Lake Shore especially, became
. feature OF the day and crossed par for the first
tine IN two years on large transactions. Gould
stocks wera comparatively neglected There
were q few stocks, among them Lsckawanna
and New England. which are subject 10 consid-
ersbie manipulation. which failed 10 respond to
the general advance, and 81 times showed con-
adorable weakness. There were, again. several
runors inxsgsrd TO the deal in New England,
but nothing Of @ positive nature. The decision
OF the arbitrators in the suit of the Hooking
Valley against Judge Burke. being adverse to
the company, the stock OF that road became ex-
tremeiy weak. spd after decline Of over 10
points, recovered small portion OF its loss.
The weakness in il had some effect in holding
back the improvement in the general list and led
20 . slight reaction, but it, influence was of short
duration and the upward movement was soon
resumed Commission houses had liberal buy
ing orders and many Of the traders were over
on the "bull" side. which gave the market q
very strong tone throughout First prices, with
the exception OF Hooking Valley, were from I
TO ! per cent higher than last evenings closing
figures, and although, through the prsssue upon
Lscsswsnna and New England, some reaction
sscured in the frst few minutes, the market
soon became strong, though no decided gains
were made until after noon, when everything
joined Ia the great upward movement or the
day. There was another slight setback toward
2P. NJ, and free reslizations occurred, but their
effect was not sssn until the last half hour, when
prices saggsd OF slightly; the close,
however, was very active and strong
as the highest prices OF the day.
) Outside OF Hooking vs;'ey. which lost o per
cent, the declines to-day ara few and unim-
portsns, while St Paul rose Al, and the pre-
fsrred II; Burlington 81 Quincy, 2; Louisville
&Nclhxllle III Lake Shore. IL; Northwestern.
IT. Omaha, ! per cent, and the rest OF the list
ffsctionsl amounts.
The decision Of the arbitrators OF the Hooking
Valley ease made the bonds of that company as
conspicuous for weakness 80 the stock. and they
siumped BADLY. Tho ives lost %. at so on sales
of S101, 900, and the skies, on . very moderate
business, s to 81. Ths general list WAS quiet
snd irregular, though the Reading fours con-
sributsd $40, 900. and the Ohio Southern in.
comes ef6S, 900 to the days total OF slJ25, 600.
There was 10 other feature in the market
Governmsnt bonds we're active and strong.
State bonds were dull and steady. Closing
onotatlons were-