The Indianapolis journal., 1890-10-16
CONDITION OF THE MARKETS
Speculative Wheat Reacts at Chicago,
Growing Weak and Uncertain.
Corn Somewhat Unsettled. Closing with o
Slight Gain-Osts Continuet to Go Higher
Hog Products Quiet and Firm.
MONEY. STOCKS AND BONDS.
Strong Reaction In the Market and Most OF
Tuesday's Losses Recovered.

Strong Reaction In the Market and Most Of
Tuesday's Losses Recovered.
NEW YORK, Oct. 15.-Money on call was
easy, ranging from to per cent. the last
loan being made at 4 per cent. closing
offered at per cent.
Prime mercantile paper. 5sa07la per cent.
Sterling exchange quiet and fairly
steady at S4.s0l2 for sixty-day bills and
s4.s5a4 for demand.
The total sales of stocks to-day were 273.-
761 shares. including the following: Atch-
ison. I1.615; Delaware, Lackawanna q
Western, 15,62s; Erie, 1900; Lake Shore,
5.51O; Louisville & Nashville. 90, 1872; Mis-
souri, Pacific, 3,165; North American. 12.066;
Northern Pacific preferred. Il, ,325; Reading,
1920; Richmond IL West Point. 6,67S; ST.
Paul. q, $50; Union Pacific. 81 800.
The stock market to-day was again
moderately active. bat showed marked
contrast in its tone to that of yesterday.
being strong throughout the forenoon and
the latter portion of the afternoon and leav-
ing prices materially higher all along the
line. although the heavy losses in some
of the leading stocks yesterday were
not made up. The bulk of the
business still is concentrated in a dozen or
the list is comparatively neglected, and the
active interest In the market Is still that of
the bears" The trading to-day sufficient
ly developed proofs that the heavy selling
of London stocks yesterday was almost en-
tirely for domestic account, aud while the
London market was this morning respon-
sive TO our declines of yesterday, and the
necessities of the case compelled a weak
opening here. the losses shown by the first
sales were comparatively slight and imme-
a ha sahn "a
helped by some buying for foreign account.
developed q strong tone in the market, and
all the active stocks moved stead
,iy. the gains during the first
noon advances over last evenings figures
of from L to Id per cent. had been estab-
lished. The trading was unusually devoid
OF special feature. but most conspicuous
bilt stocks when all the rest of the list was
advancing. Canada Southern and New
York Central were specially weak, and each
scored fractional decline as q result of the
days operations. Lake Erie and c., c.. G.
IL st. L.. on the other hand, were rather
exceptions, and the latter especially re-
deemed itself the late dealings The
upward movement came 20 an end toward
noon. when the traders went in for a short
turn on the bear SIDE, and while there was
less animation and no marked weakness
anywhere In the list prices slowly but
steadily melted away until toward 2 p. NJ,
when most of the early gains had been
wiped out. The early rumors of large in
terest which bad come in TO support the
market found few believers, and the hard
ening of the money rates also contributed
to the downward tendency. Late in the
day, however. good buying again appeared
In the list. and again a change In the tenn
per of the speculation occurred, which
sent prices in the last hour up to and be-
yond the level of best figures of the fore
noon. The movement gained force as the
time wore along, and the close was strong
on an active business and at about the best
prices of the day. One of the most re-
markable movements of the day was a
drop on Pullman from 2177s to 211. with a
whole being accomplished on sales
of only $50 shares. Delaware g.
Hudson sold ex. rights and Jersey
Central ex. dividend. The final changes
are all In the direction of higher prices in
the active list and Lackawanna and Louis
vile * Nashville are each up 112 per cent; !;
Burlington, 1Ss; c., c., T., & st. LOUIS 1 IL;
St Paul and Union Pacific. each lis, and
the others fractional amounts.
Railroad bonds were a little more active
and again displayed the lack of tone which
so lately characterized the dealings, and
while there were sales of 81 ,0SO 900 with
special activity in the Atchison and Read
ing incomes. the final changes of note are
very few. They are also about equally di-
vlded between gains and losses.
Government bonds were dull but firm
state bonds were entirely neglected. Clos
ing quotations were:
-Four per CT. reg Il 123lalC., st. L. &P 1914
Four per CT coup. 1 % p c., ST. L. & p pref 80
-Four and ,as reg l04 s. Del. Lack. & West. 1444
-Four and i2s coup. 1O43s Fort Wayne l53
M