The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-09-19
CONDITION OF THE MARKETS
Erratic Movements of Wheat at Chicago
Fail to Influence Other Markets.
Satisfactory Business in Corn. Prices Being
Well Maintained-0sts Dull and Quiet
Provisions Dull but Fairly Steady.
MONEY. BONDS AND STOCKS.
Less Activity at New York, with a Quiet but
Very Firm Closing.

Less Activity at New York, with q Quiet but
Very Firm Closing.
NEW YORK, Sept 1s.-Money on call was easy at
2 to 2ls per cent, the last loan being made at 202A
per cent
Prime mercantile paper. 5407l9 per cent.
Sterling exchange was duh but steady at $4-s4@
for sixty-day oils. and $4.ssh for demand.
The total sales Of stocks to-day were 3S3, s36
shares, including the following: Delaware, Laeka-
wanna & Western, 80, 700; Erie, 4. 555; Lake Shore.
14,67s; Louisville & Nashville, 3.531; Missouri Pa
ci6c, 1898; Northwestern, 5.19l; Norfolk s.
Western. preferred. 1900; Northern Pacific, pre-
ferred, $780,; Oregon TrauscOntin sntal. 6,924; Read.
ing, 80, 4Oo; Richmond g. West Point, 1885,; st.
Paul, s3.527; Union Pacific. s.105. Western Union.
IA, O27.
The stock market to-day was somewhat less active,
but the business done was more evenly and widely dis
tribute3 showing a decided broadening tendency for
the time being. Aside from the unusual strength dis
PLAYED over the entire list. the market advanced,
with but slight set backs, almost from the opening to
tho close, and the hnal prices show material gains
throughout the list. The temper of the room was
more buniss than it has been for some time. at least
since the action of the St. Paul directors, and the
bears were tmid, and ran on their shorts at a
lively rate, giving the market ut one time . decidedly
buoy ant tons. The principal cause or this change OF
front was the absolute refusal OF the foreigners 10
scare into selling their stocks. the orders to buy from
thing seen Of late. Their purchases
Paul was taken very freely which had = marked
influence in restoring confidence in the rest OF the
list. There were other causes acting to that end,
however. such as the advance in rates on the trunk
lines for certain goods, the improved earnings on the
1T. Paul and the ''builish' uttersnces of gentlemen
closely identified with Mr.. Gould. The latter had a
marked effect upon the Gould stocksl. and Missouri
Pacific. especially. which was unduy depressed by
the reported issue of new stocks, became a feature OF
the day. The most marked ovement IN the list,
however. was in New ENGLAND, in which the upward
movement which was begun some time ago was re-
sumed. accompanied by great activity. The deal is
knowledge any participation In the affair whatever.
The buying atterward extended to other
stocks. and Lake Shore and Northwestern
latter having been large, ard the stock now CON-
mands a premium for use- Lackawanna again COM
manded attention by reason of a sudden rise. almos st
all of which. however, was afterward lost. The 9TH
er coalers were active and fairly strong. The open
ing figures were from ls to s. per cent. higher this
a gain Of Ii per cent Some little reaction occurred
in the early dealings, but the market soon recovered
and everything moved up with st. Paul. and Wheel
irx * Lake Erie. and Union Pacific in the lead An
attack upon Northwestern brought the list once more
below first prices, but after noon New ENGLAND came
TO the front. and the extraordinary st-eng 9Th displayed
by the stock stimulated the entire list, and, followed
By Missouri Pacific and Cotton Oil, brought prices
TO their highest points of the day, generally at about
1:30 p. NJ Free realizatons after that time sagged
the list of, while Lackawana became quite weak. los
ing nearly all Of its former advance. The tone OF the
market again improved toward the close, however,
and the list was quiet but firm at or near the best
figures at the close. The final changes show advances
IN everything. without exception, and St. Paul pre-
ferred rose 2 par cent, and the common. 17s. New
England a like amount; Manhattan. liz; Missouri
Pacific, III: Northwestern. lie; Burlington & Quincy,
Hooking Valley, Lake Erie s. Western preferred,
Northern Pacific preferred. and Western Union, I
per cent each. and the rest fractional amounts
The interest in the dealings in railroad bonds was
still second 20 the shar, list. and while the market
was a little more animated there was a lack of feat
ure and no decided tone TO the transactions. The
market continued irregular in its movements through
out the entire day, and the final changes. which yet
ara generally for fractions only. are about equally
divided between gains and losses. The sales were
81 oil 7,OOo- Western Union coupon sevens rose
32 10 119la The declines were: St Paul. South
Minnesota skies. 81 TO 10Sle. Wisconsin & Mime
sofa ives, 2l9L at 90; Ontario & Western frsts, 3, al
Ills. and Green bay incomes, 2, at 80.
Government bonds werc dull bu. firm.
State bonds entirely neglected. Closing quotations