The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-10-23
CONDITION OF THE r K
Speculative Wheat Is Sustained for a
While, but Finally Slumps Again.
Another Decline of One Cent Established
Corn a Little More Than Holds Its own
Better Trading in Hog Products.
MONEY. STOCKS AND BONDS.
Strong Reaction of the Market Gives Strength
to the Whole List.

Strong Reaction of the Market Gives Strength
to the Whole List.
NEW YORK. Oct. 22.-Money on call was
tight, ranging from 6 to 10 per cent, the last
loan being made at 6 per cent, closing
offered at @ per cent.
Prime mercantile paper 5laG7 per cent.
Sterling exchange quiet and weak at
s4.s14 for sixty-day bills and $4.s5l2 for
demand.
The total sales of stocks to-day were 1885,
40 shares, including the following: Atchi-
son, 1880 Delaware, Lackawanna & West
ern, 1850; Lake Shore. 7,405; Louisville &
Nashville. 10000; Missouri Pacific, 1880;
Northwestern; $3.50; Northern Pacific pre-
ferred, 1880; Reading, IS. 72o; Richmond 81
West Point. 1876; st. Paul, 22,55O; Union
Pacific. 500.
The stock warket was more active, but
than yesterday. and the result of the days
business Is TO leave the entire list ma
terially higher than last evening. though
in many stocks the losses of yesterday
were not recovered. The advance was. in
a great measure. a mere reaction from yes
terday's decline, the Improvement In values
being mostly ON account of the covering OF
shorts though there was some buying
for the long account. There was III utter
absence of bear pressure throughout the
entire day. and although there was some
feyerishness in the early trading it soon
disappeared, and the new demand for stocks
made an active and decidedly strong mar
ket, which lasted, without interruption,
throughout the forenoon. When the COW
ering ceased the market became dull, aud
prices sagged. though such losses were gen.
orally recovered later in the day. A
marked feature of the day was the in
creased supply of money to loan on call,
and, notwithstanding the rates went
a sine. to it 10 caused sgd es no %i ne ene
fence because of the liberal
supply. There was a perceptible easing in
the afternoon. and rumors of an intended
importation of gold aided in making q more
confident feeling IN the room. Sterling ex-
change was again weaker, but is not yet
down to the gOld-importing point, and the
house mentioned in connection with the
importation of gold denied that 1t had any
u intention: There was more heard in
regard to the shortage In cars In the West.
to-day, and while the news of the day with
a bearing upon the railroad situation was
meager, Chicago reports were to the effect
that all rate troubles seemed to have come
to an end, which probably indicates that
sition on the market. In conjunction with
the increased offering of money there was a
scarcity of stocks to loan, which created an
apparent increase in the short interest
from the renewed demand for stocks. The
opening of the market was rather heavy.
but strength developed Immediately, and
the business was much more evenly dis
tributed than usual of late, while Sugar
and Jersey Central We're the only
both joined the procession before
noon, when prices were generally
from Il to liz per cent. better than those of
the opening. The demand for stocks eased
of. and dizziness became the most promi-
aent feature of the market. and prices
sagged of slightly, though the undertOne
of strength was very perceptible. There
was a renewal of the upward movement in
the last hour. and the highest prices of the
day were generally reached. The close was
1uiet but firm at or near the best figures.
The important advances were Chicago Gas
and Lake Erie Il Western preferred, each
Ia; Delaware q Hudson. 1sa; Sugar. 15s;
Island, Missouri Pacific and Transconti-
pental. 1ss: Burlington. IL Union Pacific.
Northern Pacific preferred, Denver, Texas
4 Fort Worth and Cotton Oil, 1 per cent
each.
railroad bonds were more active. the
- W lux
out of this amount West Shore fours fur
nished $4,000, and Kansas Il Texas skies
f134,00 o The Kansas & Texas issues were
the feature OF the market, a rumor that a
plan of reorganization, in which all the OPP
posing interests could join, causing o sharp
advance in all the issues.
Government liz State bonds were dull
and steady. Closing quotations were:
Four per ct. reg---127 IC, st. l.. P..----- 151a
Four per ct. coup..127 &C., st. L. Il p. pref. 362
Four and l2s reg 1851 Clev. & COlubus.- $500.
Four and al2s 105l2 Fort Wayne---.--156
Pacific Is OF '95. -117l2lIllinoi Central. lie
Louisiana st'pd As. 50 IT,, b. Il W. 9la
Missouri 6s-------.101l4lLake Erie & West. Is
Tenn. new set. is .107leIL. E. W. pref. 6314
Tenn. new set. IS. -101 Lake Shore ------.- as
Mutual Union IS 1925 michigan Central. 915s
St.L. 81. NJ. gen. IS S5AlO. IL Mississippi 22Is
St.L. 4 ST. gen. m.12o 10. & M. pref. 80
Adams Express..-150 Peoria. d. Il E..--- 20
Alton Il Il. H. 43 lPittsburg.------.157
Alton Il T. II. pref.1O5 Pullman Palace. .IS414
American Expressl16 JUS. Express. SO
Ches. & Ohio------ 254lW., st. l.. * P. l6ls
c. & o. pref. lists. 647slW.. st. L.. IL 2. pref 3O5s
c. o. pref. DDS - 43L Wells & Fargo Ex. 135