The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-11-14
CONDITION OF THE MARKETS
Wheat Quite Unsettled, a Majority of
Dealers Talking in Bearish Fashion.
Corn Continues Weak and the Range ofPrices
Goes LOwer-Oats in Demand and Higher
Provisions Active but Irregular.
MONEY. BONDS AND STOCKS.


An Excited and Fsverish Opening. Followed
by q Firm and Quiet Closing.
NEW YORK, Nov. 13-Money on call was
easy st 293 per cent, the last loan being made
n 2, closing at 2.
Prime mercantile paper, Il act per cent
Sterling exchange was quiet but steady at
O. s4i for sizty-day bills and sls7A for de-
mand.
The total sales Of stocks to-day were 397.-
902 shares, including the following: Canada
Southern. 1850: Delaware, Lackawanna & West
srn. 90. 10; Erie. 1870; Lake Shore, 46. 322;;
Louisville & Nashville. 1901: Missouri Pacific.
$3.50; North western, Sc. 335; New York Central.
$3.50; Northern Pacific, preferred, 1920;
Oregon Transcontinsntal. 1920; Reading, 49,
300; Richmond g. West Point, Is. $50; St. Paul.
25.90o; Union Pacific, %, 1895; Western Union.
l2,3o1.
The stock market was extremely active, ex-
cited, weak and feverish In the first hour, but
recovered Somewhat later in the dav while be-
coming quiet and more settled. The weakness
engendered by the action OF the New York
Central was continued this morning, but was
intensified by heavy sales for London account
which induced free selling for both sides OF the
account by the domestic operators, and some
stop orders being uncovered, the decline made
rapid progress long a. II lasted. which was
for less than an hour Orders 70 sell came from
ali quarters. and In the stocks most affected the
prices went of with a rush; nut q few shares
were well held throughout. and with few ex
ceptions closed with fractional advance for the
day
The pressure, naturally, most severe upon
the Vanderbilts, and Lake Shore and Michigan
Central were specially weak. while New York
Central and Canada Southern were compare
lively nrm. The extreme decline in the first
two stocks reached between and per cent,
and although the weakness soon spread 70 the
rest OF the list losses In other stocks were gen
orally confined TO fractional amounts. Good
buying orders were put in the market the de-
cline was checked. ADD evidence was not want
log that the leading bears had covered large
lines at the low prices. TIE Southern and
South western stocks were remarkably firm
throughout tho weak spell, their fluctuations
were quite small, and later in the day New Eng
land became the strong feature OF the day, being
taken freely by Boston. presumably on account Of
the approaching election, and its highest figure
was reached toward the close. London also be-
came buyer later, and this served TO renew
the courage Of the bulls VINO took hold with
more vim and reduced the losses materially In
the last hour. The Northern Pacific group
were prominsnr at that time for the strength
displayed, also, and the entirs list followed In
behind. The opening was intensely excited and
on an unusually heavy business first sales wero
made at declines from Last evenings figures, ex-
tending 10 i per cent. including Lake Shore
and Missouri Pacific. The market was extreme
~ feverish and weak. and under the lead of the
Vsndsrbits per cent. was soon knocked of Of
the prices Of Lake Shore and Michigan Central
while the other trunk lines followed. There was
some let ND TO the decline toward the end of the
hour. but the weakness again appeared although
activity was much reduced, and the lowest
prices were generally reached before noon The
list then presented very little feature, and the
volume OF business showed a steady decrease,
dull, but prices also gradually crspt upward.
while few stocks, such as Tennessee Coal New
England, Northern Pacific and Reading, dis
played marked strength. New England became
= pronounced feature in the last hour, and
moved up rapidly, with the general list follow
Ing. and the market finally closed quiet but
firm, generally at small fractions decline from
the opening prices. A few stocks show ad-
vances Of small fractions, but the rest Of the
list materially lower, and Michigan Central
IL down q; Lake Shore. II; Atchison, Il, and
Erie per cent.
The railroad bond market presented no feature
of interest,". but remained quiet and generally
steady throughout the entire day, falling to sym
pathiZc 10 any way with the excitement In the
share list The total sales reached only 81, l63,-
600, and there animation visiole any
where ir the list. The final figures show irreg-
ular changes, generally for small fractions
though there were a few important movements,
but no decided tendency either direction
Minneapolis & St. Louis Iowa sevens Lost 81, at
sc, and Shenardoah Valley general certificates,
z. 1t 81.
Government bonds were dull and steedy.
State bonds were dull, but steady to firm.