The Indianapolis journal., 1890-11-18
CONDITION OF THE MARKETS
Wheat Opens Feverishly but Develops
Much Strength Before the Close.
Corn in Demand and Much Firmer-0ats Also
More Valuable-HOg Products Fairly
Steady and Moderately Active.
MONEY, STOCKS AND BONDS.
More ConfideDt Fe cling In Wall Street Brings
Improved Values.


Improved Values.
NEW YORK, Nov. 17.-Money on call was
tight, ran ging from per cent. on dividend
payers to 1s6 per cent, the last loan being
made at 90; closing offered at 96.
Prime mercantile paper, 6l2'0sl2 per cent.
Sterling exchange quiet and firm at S4 7912
for sixty-day bills and s4.s6l2 for demand.
The total sales of stocks to-day were
S52,U79 shares, including the following:
Atchison, 2O.63O; Delaware. Lackawanna
& Western. 5000; Erie, 3.S25; Louisville &
Nashville. 1880; Missouri Pacific, 6.616;
North American. 1870: Northern Pacific,
1910; Northern Pacific preferred, $1,000;
New England, 4.517; Reading. 14,9Oo; st.
Paul. 14S34; Texas Pacific, 1858: Union
Pacific, 1O.3SO; Western Union, 7,162.
The stock market, to-day, after having
time to recover from the scare of Saturday,
was much less active that for any day for
the past two weeks, and the evident return
of confidence caused a slow but material
advance in values all along the line. not
wlthstanding the fact that there was great
irregularity and feverishness throughout
the entire day. There were two more fail
ures announced, both due to the shrinkage
in values, but they had but slight effect,
the failure OF Gregory d BallOq serving to
keep Missouri Pacific down behind the
rest or the list, as it was understood that
the firm was heavily long-of the stock.
The sales under the rule at one time were
about all the business done, but they were
all cleared away before noon, and later,
when it became evident that no more fail
ures were to be announced, the buying as
sumed a more, confident front. and the up
ward movement In values was accelerated.
To-day's developments show conclusiveiy
that the market has for a long time been
largely oversold, and that bids and ostensi-
BILE purchases were made by the bears
when the number of stocks called for could
not be obtained in the market The gen.
eral opinion seems to be that it is now only
question with investors of getting stocks
at present prices. as the feeling of insecure
ty has almost subsided, and that q steady
improvement may now be looked for on a
sound basis. There was a renewal of the
old rumors this morning of combination
among the leading capitalists to support
their respective specialties. and the action
of the Boston clearing house in following
the example of the New York banks in is
suing clearing house loan certificates was
of much influence In reassuring many
would-be buyers. The general confidence
that the worst has come out In the
publication of the truth in regard
to the Barings and the prompt action by
the Bank of England would prevent any
recurrence of the slump in values in the
future through forced liquidation. The
market this morning was very irregular at
the opening through the lower prices from
London and the effect of the improvement
In the feeling here, and while most stocks
were fractionally changed, Burlington and
LacKawanna were each 1lo lower and
Northern Pacific preferred and Rock Island
were each up per cent. The market was,
as a rule, firm from the first sales, but there
was further drop In Burlington. Lacka-
wanna and Sugar. which. however. was
soon checked. and those shares. as q rule,
moved for the remainder of the day with
the rest of the Inst. Much irreguarity In
the movements was noticed, but there was
marked absence OF excitement or app.e-
hension, and while the uncertainties of the
situation for the present kept the room
traders quiet, and commission houses were
not especially active, the diminution of
the amount of business was the only favor
able symptom, if such it may be called,
and the demand from the foreigners
and the shorts" kept prices moving slowly
but steadily In the upward direction. The
greatest interest centered IN Lackawanna,
and after its early drop there was rise of
per cent, the price touching 130 IN the aft
ernoon. The Northern Pacifcs were still
very prominent and showed smaller huc-
tuatioDs than the other active stocks. but
the preferred touched GO. There were a
few weak spots. and Jersey Central went
below 100, and the Wheeling x Lake Erie
stocks sold lower. but they had no appar-
ent influence upon the rest of the market
and the close was fairly active and strong
at, or about, the best prices of the day.
The final gains are per cent. each In C.,
c., Z. q st. l.. and Rock Island, 1os each IN
Union Pacific, st. Paul and Louisville ~
Nashville. 13i In Atchison. III each in
Northern Pacific preferred and North
American, ls in Missouri Pacific and per
cent. In Pacific Mail. with fractional
gains in the rest of the list.
Railroad bonds were also less active than
usual OF late. aud, while the more active
issues show some improvement in the tone,
the others. were weak and almost all
showed material losses from the last pre-
vious sales 1t was announced that the
Barings had few of the Atchison fours and
incomes, and those bonds were again
strong, the incomes closing 21t per cent.
higher. The sales of all issues reached
81 100000, out of which Texas Pacific sec
onGs contributed S2a,5, 900; Northern Pacific
fves, S144. 900; Atchison fours. S144 600, and
the Atchison incomes, S123OG0. The deal
ings extended to a large number of issues
and the losses are by far the more numer-
Gus this evening.
Government bonds were dull and heavy
State bonds were entirely neglected. Clos
ing quotations were:
Fourper OF. reg. 121 l2IC., st. L. & P I2
-Four per CT COUP l21 Z c., st. l.. Il F. pref. 35
Four and l2s reg..-103 DEL. Lack. x Westl293s
-Four and Los coup. 104 Fort Waynel5O
Pacific 6's of '95- -113 Illinois Central. 94lo
Louisiana std As 92l2lL b. Il W....
Missouri ri6s.-.----...---- Lake Erie & West. 11ls
Tenn. new set Is. .102 i. E * W. pref so
Tenn. new set 5s -105 Lake Shore lOl "a
Mutual Union 6s-. 9S michigan Central S5 l2
st. L. & T. M. gen 5s S47s New York Central. 9Sia
ST. 4 s. +. gen m.1 Ill %. * Mississippi. IL
A.