The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-09-12
CONDITION OF THE MARKETS
The Wheat Boom COlIapses anda Decline
of Two and a half Cents Is Recorded.
A Good Demand for Corn Prevents Decline
in Prices ofthat Grain-0ats Dull and I'm
changed-PrOyisiOns Generally Firm.
MONEY, BONDS AND STOCKS.

Increased Activity i'm New York Accom-
panied by Generally Higher Prices.
NEW YORK, Sept. u.-Money on call was
easy at II az per cent.
Prime mercantile paper, 5 S6t per cent.
Sterling exchange was quiet but steady at
s4.s4a for sixty-day bills, and 81 So fos demand.
shares, including the following: Delaware.
Laekawanna & Western. 1880; Erie. 1850;
Hooking Valley. $40; Lake Shore, 1885;
Northwestern, 4.56l; New Jersey Central, $500;
Norfolk s. Western. preferred, 4,305; Northern
Pacific, 3,4O0; Northeru Pacific preferred, TO-
764: Ohio s. Mississippi, $500; Oregon Trans
continental. 1925 Reading. $4,000; St Paul.
3ol10; Texas Pacific, $500; Union Pacific.
hiss; Western Union, 1880.
The stock market was not only more active
but higher throughout, both covering of
shorts and renewed buying for the long ac-
count, which came from foreigners as we'll as
domestic sources. The raid Of last evening
not continued this morning. but instead there
seemed an unusual anxiety to cover "shorts" in
the early trading, and this gave the market at
times buoyant tone. When this movement
was satisfied there came more urgent demand
from new buyers, aud the upward movement in
prices was not suffered TO lag for long at time.
The feeling on 81. Paul seemed to have under
gone change for the better, and there was
heard nothing of passing the dividend. nor were
there any seller-sixty options put out; but in
stead, reports that the dividend would be II or
Ii per cent were freely circulated, and Mr..
Armour was even said to be prepared to furnish
money for the regular q per cent dividend.
The news Of the day was almost entirely bulish,
and q very favorable report of the business done
By the trunk lines found publication. This was
accompanied by a very decided movement in the
Vandsroilts, and Lsks Shore, in particular, be-
came prominent for both activity and strength,
some round amounts OF the stock changing
hands. The Gould stocks were largely traded
in, and were helped by the stateme Mt issued of
the business of the Manhattan, though when the
dividend was found TO be unchanged. there
some disappointment and the stocks sold of
somewhat from best prices. There was more
attention paid to several specialties than usual
OF late. and many or them made marked ad-
vances, among which Pullman, Hooking Valley.
Tennessee Coal, aud Memphis & Charleston
were most conspicuous. London had some
selling orders in the market &C the opening. but
they had no effect upon the list, and that
interest became buyer later IN
the day. Toward afternoon there was
free realizing, which ssgged the list of from the
best prices, bat the movement was OF compare
again became strong 10 the FINAL trading. First
prices were from ! to . per cent above last
evenings figures, and without hesit alton the
market moved up rapidly on q large business
until near noon. when prices were from ! TO IL
per cent above those OF the opening. Pullman,
however, rose 3 per cent. The best prices were
reached about ] P. NJ, after which everything
receded from the highest figures, when the
market became dull. The last hour. however,
saw . renewal Of the buying, and on largely
increased trading prices again moved up, aud
the close fairly active and strong at small
fractions under the best prices The active list,
without exception, - higher this evening, and
Pullman rose per cent; Hooking Valley, Il;
New England. Il; Lake Shore, II; st. Paul and
Chicago. ST. Louis d PIttsburg preferred, IL
per cent each; Canada Southern, per cent
and others fractional amounts.
The railroad bond market was more active to-
day, with q much more evenly distributed
business. although Fl. Worth g. Denver frsts
contributed s212, 900, Reading first preferred in
comes, s2ll. 000 and the Wet Shore fours sl91.-
900 ont Of the total days business Of 81. 952.-
boo. The tone of the dealings was decidedly
Btyong, and the inquiry for good. hiRh-class
boads was better than has been seen for some
time The final changes are almost invariably
In the direction of higher figures, and Indiana,
Bloomington & Western, eastern division, certi-
6cates rose 3, to 81.
Governmen bonds dull and steady.
State bonds dull and without feature Clos
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