The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-10-26
CONDITION OF THE MARKETS
Wheat Rallies at Chicago and Receivers
Something More Of Its Recent Losses.
Business Concentrating in the May Option
Firmer Feeling Developed in Corn-Ir-
regular Fluctuations in Hog Products.
MONEY. STOCKS AND BONDS.
The Market Once More Buoyant-Heavy Buy
ing of Union Pacific.

ing of Union Pacific.
NEW YORK, Oct. 25.-Money on call was
easy, ranging from 4l2 to 6 per cent, the
last loan being made at 5, closing offered at
5per cent.
Prime mercantile paper 5l2d7 per cent.
Sterling exchange quiet but firm at S4.s1i2
for sixty-day bills and S4s512 for demand.
The total sales of stocks to-day were 21s,-
414 shares. including the following: At
Gibson, 1880; Delaware. Lackawanna *
Western. 1866; Denver. Texas & Fort
Worth, 1850; IKE Shore, 4,105; Louisville
& Nashville, $500; Missouri Pacific. 1850;
Northwestern. 5.315; Northern Pacific pre-
ferred, s,sO5; Reading. 1890; Richmond a.
West Point, 1910; st. Paul. 1860; Union
Pacific, 1880.
The stock market was more active and
decidedly strong to-day, and at the close
all the active stocks were materially high
er than they were last evening. The news
OF the day was almost entirely of a favOra-
bic character. and the disposition upon the
street was to regard the new traffic agree
ment between the Union Pacific and the
Northwestern in q more favorable light.
which stimulated the buying of both OF
those stocks, and Union Pacific especially.
The bullish feeling extended to the other
granger stocks. and for the first time In
some weeks that group of shares was
SLIOER InTOug0Out. hOtk iSldQu Dcl02 Spt-
cially conspicuousin the upward movement.
The buying was Ion by commission houses.
who advised buying for the first time since
the monetary stringency became a factor in
the stock market, aided by Chicago and
London in the afternoon. The shorts"
covered freely on the easier condition of
money, and helped the upward movement
to a great extent. London was q seller of
Union Pacific to a limited extent in the
early dealings, and this had. as on yester-
daV- the affpcf nf ehackinn the natural
upward tendency of the market, but the
offerings were easily absorbed, and rumors
of Vanderbilt buying of the stocks soon
started it upon the mp track. All
the Vanderbilt stocks were strong,
N al Shore in particular, though
of them made any marked advance.
The coal stocks were also strong, and Lack
awanna late in the day took the lead of the
while Reading was the only sluggard. The
Gould stocks, with the single exception of
Missouri Pacific, were rather backward. but
many of the specialties made sharp gains,
Denver. Texas & Fort Worth being the
most prominent example among them. The
trusts were again very prominent in the
dealings, and Sugar was weak on rumOrs
of losses by the trust, with q probable
further fall in the price of its product,
together with the new opposition. Cot
ton Oil, on the contrary, was
strong. the point to not be short of
it being freely circulated, resulting in
heavy covering. and the expectation that
the reduction in the capital woald result in
scarcity of the stock. caused some buying.
Sugar recovered on the report that no de-
cision in the North-river case would be
handed down to-day. The heavy earnings
reported and the promising success of the
Atchison plan aided in creating q bullish
feeling. n in the prevailing ease in money
the favorable general situation was paid
more attention to.
First prices this morning were quite
1rro0nor and tho m ~ mo i'm tho oarlxr
dealings some selling for London and
Chicago account. which resulted in a slight
depression, which was helped along by the
weakness in Sugar refineries. The market
was dull, but soon developed both activity
and strenth, and before the end of the first
hour the list was on the upward move.
This became more pronounced toward
noon, when Sugar recovered, and
snd ps aSyan'ss Tex an / Gni9 Fort P MsIaS
took place. which were followed
by similar movements in Cotton
Oil. Richmond q West Point. coal stocks
izing toward the close, and afractional con-
.~cession was made from best figures, but the
sclose. while quiet, was firm to strong. The
inalc changes are in the direction of higher
prices, and Cotton Oil is up 24; Lacka-
wanna, 2; Chicago Gas and Denver, Texas
& Fort Worth, 17s: Rock Island. ia; Ten
nessee Coal, 1ss; Northwestern, IL; Mis-
souri, Pacific. lis; Atchison, Jersey Central.
Northern Paclnc preferred, 81. Paul and
Union Pacific each l per cent.
Railroad bonds were both more active
and stronger and a firm tone existed
throughout the day resulting in material
advances among the active issues. The
total sales of the day reached 81 ,5O7, 900. but
to that amount Fort Worth & Denver
frsts contributed S13S,OO0; Erie seconds,
$4,000 and Chesapeake & Ohio fives. S112.-
900. There was considerable animation in
the Kansas q Texas issues still and the
sevens made q marked advance.
Government bonds were dull and steady.
State bonds were entirely neglected. Clos
ing quotations were:
-Four per CT. reg...127 &C., ST. L. &P....--- 15l4
-Four per CT. coup. 1877 {. st. l.. a. +. pref. 3SL
Four anda Los reg -1051alClev. & Colu'bus.- $500
Four and ALAS coup105l2l Fort Wayne.---...157
Pacific 6s of '95-. -117l2lIllinoi Central. JIG
Louisiana st'pd As. S94lL b. Il w. 9ls
Missouri Erie * West. 1S5s
Tenn. new set. IS .1O7lolL. r. & W. pref. 645s
Tenn. new set. 5s.- 101 blake hOre--.----1Oc 4
Mutual Union IS. 103 Michigan Central. 90
stL. N. gen. 5s S54I0. X Mississippi. 227s
6t.L- * ST. gen. N. 1lSlol Il NJ. pref------- 50
Adams Express. $50 Peoria, u. & E.. 20
Alton & T. H. 43 IPittsburg. .15S
Alton d Il. H. prsf1O5 Pullman Palace. 1877
American Express11612IU. s. Express. S3la
Ches. & Ohio.-.-.. 25alW. ST. II. p. IL
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