The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-10-18
CONDITION OF THE MARKETS
Wheat Unsettled and Irregular, and OPP
orators Unable to Act with Certainty.
Moderate Trading in Corn, Accompanied by q
Stronger Peellng-0ats Stronger-Pro-
visions Fairly Active and Higher.
MONEY, BONDS AND STOCKS.

Dull Market in New York, Only One Stock
showing Any Particular Activity.
NEW YORK, Oct 17.-Money on call was
easy at II 924 per cent, the last loan being
made at 2 per cent, closing offered at 2 per
cent
Prime mercantile paper, Il 96B per cent.
Sterling exchange was dull but firm at "a So
for sixsy-dsy bills and s4.sS for demand.
The sales Of the day aggregated l79. 935 shares,
i~ncIuding the following: Missouri Pacific, 10, go
Norfolk & Western preferred. All; Northern
Pacifc preferred. '6,2lO; New England, 1880;
Reading, $500. Richmond s. West Point, I9, SIS;
St. Paul, IL. 900; Union Pacific. $780,; Western
Union, 1882.
The stock market was again very dull to-day,
with very little movement or feature, though
Que stock was active and strong and q few 9TH
ers were somewhat weak. Oregon Shors-lins
was the leading strong feature OF the market,
the confidence of its friends in a dividend on
the stock next year inducing good buying,
which shot tie stock up 5 per cent, to its high
est point. o day. The belief is founded on the
very handsome reports OF earnings put out OF
late, while to-day thers was talk OF o revision OF
its arrangement with the Union Pacific,
whereby il would receive a larger pro
portion or its earnings but there
was also a rumor that the company
was in debt TO the UNION Pacific 81, ZOO, 600 for
advances made, aud that this was to be funded
into a bond. and as there was also talk of action
on the funding bill in December By the House
of Representatives, the latter was very active
and moved up $ fraction. The weak spots in
the list were Missouri Pacific, which was sold
down on the unfavoraole interpretation put upon
the report Of the company to the State of Kan
vas. which, however, Is generally considered
Worthless ~ far as giving any indication or the
real status Of the company.
Atchison was also weak again, on the report
that the company was TO issue a new ten-miliion-
Collar MORTGAGE, and THIS caused
again. in which Burlington was the greatest
sufferer. There was some recovery In Atchison
later, when the real nature OF the new issue was
somprehended, but San Francisco preferred and
New Eaeland were also sold freely for Boston
account The Richmond 81 West Point stocks
were the strong feature of the morning hours.
but the advantage was about lost at the close.
There was no news or . character to affect
values, ard commission houses did almost
nothing, the bulk of the trading being
by the professionals. The opening
prices were steady. but Union PacIdc,
Oregon Short-line and Richmond s. West Point
showed marked strength, and the rest OF the
list moved ND in sympathy. The selling OF Atch-
ison and Missouri Pacific started the list on the
down grade, however, shortly after IL o'clock,
and the gains Of the early trading were abour
wiped out by noon. after which the market sank
into the most intense d~ullness, while all motion
disappeared from the list The heavy tone re-
appeared in the last hour, ann the close was
rather heavy, generally at slight concessions
from frat prices. Most OF the list
shows fractional dsclinss this evening.
the only important advance being Oregon
Short.line. which js q per cent. higher, while
San Francisco preferred lost 1s, and Missouri
Pacific and Atchison. II per cent. each. The
Reading issues were again the special feature Of
the railroad bond market, though solely on &C.
count of their unusual activity, the irst income 90
furnishing $377 600, the second Sl54, 600. and the
third sl62, 0oo of the days total OF 81. coo. 900.
The rest Of the issues traded In were quiet and
generally hra. The final changes were gsnsr-
ally for slight fractions.
Goverpment bonds were quiet and steady
State bonds were dull and featureless. Clos
ing limitations were: