The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-10-05
CONDITION OF THE 3 K
Light Trading in Wheat, Operators Being
Disposed to Fight Shy of That Grain.
Germ Active but Unsettled, Accompanied by
Week F~seling-0ats Easy and LOwer-Pro-
visions Only Moderately Active.
MONEY. BONDS AND STOCKS.

A Dull Day I'm New York, the Deauogs, How
ever, Showing q Strong Tone.
NEW YORK, Oct Mooney on call was
easy st2s % per cent, the last loan being made
at 8, closing offered at II per cent
Prime mercantile paper, Il at per cent.
Sterling exchange was dull but steady 1t
s4s3i for sixty-day bills and s4.S7} demand.
The total sales Of stocks to-day were 224. 755
shares, including the following: Delaware, Lack
kwanna & Western. $500; Erie, 1900; Hook
Ing Valley, 1850; Lake Shore, 7.740; Louisville g.
Nashville, 4.3s4; Missouri Pacific, $3.50; North
western, 4,9s5; New Jersey Central, 1850;
Northern Pacific preferred, 4,422; Oregon
Transcontinental. 5000; Reading. IL, 100; Rich
mond s. West Poin;. 10,5l5. St Paul. 1850;
Texas Pacific, $3.50; Union Pacific. 12.127; West
ern Union, 23.57l.
The stock market went back to dullness again
to-day, the transactions being the smallest for
any full day for over two weeks; but the tone
OF the dealings was strong throughout. and al
most no setback occurred, the result OF the
days trading being to leave nearly the entire
list fractioaally higher than last evening. There
was some selling by the foreigners at the open
ing on higher ratss for money on the other side,
and the advance in the Bank OF Englapds
rate Of discount, but the latter, as the
result showed, had been completely
discounted, and no stocks coming out from
buyers In turn and aided the advance, which
had already begun. There was absolutely no
PRESSURE to sell stocks, but there WAS consider
Fbls quiet buying, accompanied by confident
talk, and the traders who were inclined to Do
pearish at first switched over TO the "bulp' side.
The outside influences affecting the market were
few, but the subsistence OF the excitement in the
wheat market did something to restore conf
a. -
treasury gave hope to the bulls" though there
was Afterward some disappointment over the
ANAL number accepted. There was very little
feature In the market. but the coal stocks occu-
pied a more prominent position than for some
time past, and Jersey Central became conspic-
nous for strength. The Gould stocks also became
conspicuous, but outside OF Western Union
there was no special movement In them- The
grangers were qniet, and so were the Southern
stocks. which showed some weakness, with the
exception Of Norfolk g. Western preferred, and
the East Tennessee stocks. The feature OF the
day, however, was Cotton-sesd Oil, which made
q further advance Of about 2 points on o large
business There are no new developments in
regard to the property, and the officials are
more than usually secretive. The declines from
last evenings figures 1t the opening this morn
ing extended to per cent, but the
market developed q strong tone Immediately.
though the progress made in the upward d.
rection was slow, and never In but . few stocks
reached more than l per cent There was q
steady diminution in the volume OF business
throughout the day, though there were spells OF
activity A slight ~reaetion occurred in the last
hour. but the close was quiet and firm at or near
the best prices of the day. The final changes,
with . fess1nimportsnt exceptions, ara in.the di-
recrion of higher prices, though the only one for
more than . fraction was in Jersey Central,
which il up IL per cent
In the railroad bond market the Chesapeake
& Ohio issues were again active, but tho rest Of
the list was, like the share list, quiet to dull.
with little movement and no feature beyond Q
firm tone. which lasted throuRhout the day.
The sales for the day were 81 ,357 600, and the
Chesapeake & Ohio certificates contributed
SI4O,ooo, and the currency certiieates Sl19. 900
to that amount. The most important advance
WAS in Minneapolis d St Louis equipment
skies. 81, 70 Sc.
Government bonds were dull but steady to
frm.
State bonds were dull and without feature.