The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-08-26
CONDITION OF HI MARKETS
Sharp Reaction in Prices of Grain and
Provisions on the Chicago Board.
Advance of from / to 8 Centsa Bushel on Wheat
and Corn-Flurry Over the Latter Cereal
-Bullish Foreign Adyices the Cause.
MONEY. STOCKS AND BONDS.

Another Active and Strong Market at New
York, with Higher Prices Recorded.
NEW YORK, Aug. 25.-Money on call
waseasy ranging from pa to 3 percent, the
Las. loan being made at 2ls per cent; closing
offered at 2lt per cent.
Prime mercantile paper. 51t06la per cent.
Sterling exchange was quiet and heavy at
s4.ssls for slxty-day bills and s4.s5a4 for de-
mand.
The total sales of stocks to-day were 265.-
s24 shares. including the following: Atchi-
son, 42.sS5; Canada Southern. 4,160; ChIca-
go Gas, 6,s10; Delaware. Lackawanns &
Western. 1878; Erie. 1885; Lake Shore,
9,795; Louisville d Nashville, II, 300; Mis-
sourl Pacific. 7,l65; Northwestern. $500;
Northern Pacific preferred. IL $50; Reading,
$50; Richmond e. West Point, 6,0O7; st.
Paul. 2, 1853; Union Pacific, 1860.
The stock market again was active and
strong to-day; the same stubborn strength,
with . moderate degree of activity among
tho leading stocks. was shown, and while
the net improvement outside of q few
shares, which received special support, are
small, the advance reached all portions of
the list. The European shorts" are said,
by those in q position to know, to be cover
ing their shorts and there was undoubtedly
heavy buying for foreign account IN the
early trading this morning. helping mate
rally to make the strong opening and fur
Their advances of the forenoon. The buy
ers of Northern Pacific preferred, Rock
Island and some other stocks yesterday
were inclined lin. Ito to heal 5saiiz .so on the Profits
felt the stimulus of tho continued steady
demand for stocks, which has been q great
factor In preventing any material reaction.
oven when the street was almost unani.
days there has been q less professional look
about the dealings than usual for q long
time, and the buying is considered excel
lent, while many of the eold-out bulls who
were looking and working for q reaction
last week have concluded to get aboard at
the higher level and float with the tide.
The opening gains this mo rning extended
dealings, ST. Paul and Atchison were rather
unduly prominent in the trading. they did
not make any material advance more than
the rest of the list until late in the day,
when the latter spurted upward. notwith-
standing q rumor of o heavy floating debt.
The g~rangers, in fact, were given rather q
secondary position in the market, as far as
strength Is concerned. and their place was
taken by the runk-lin stocks, among
which the Vanderbilts were. of course,
most prominent. A great deal of the buy.
ing in these stocks was credited 30 foreign
operators, and the fact that they have been
todcnou III inc upWaIu mOVomouI gave
renewed confidence to the buying
as giving q more substantial appearance to
the speculation. There were several marked
advances among the inactive shares, and
the gains in the Rio Grand Western stocks,
the Chesapeake 81 OhiOs and Great North
ern preferred were specially prominent.
The advance continued almost without in
terruption throughout the day; although
there was no sharp upward movement, and
no lack of effort to prevent it. The only
reaction of note occurred in the last hour.
but the market at the close was again act
ave and strong at the highest prices of the
day. The list is almos invariably higher.
Lackawanna and c., c.. c. a. st. Louis are
up Ia each, Canada Southern and Tennes-
see Coal each liz, Lake Shore 3 per cent,
Louisville IL Nashville aud Burlington
each IA, and Atchison / per cent.
The activity IN railroad bonds was again
most marked and the transactions of the
day footed up S2,4S3. 000, dewhich the Atch-
ison incomes contributed $i24.0OO, the tours
$4,000, and the Texas Pacific seconds
S336,000. The market was decidedly strong.
and while the important gains are few the
whole list is materially higher tonight.
Ali the active issues closed materially
higher and in many of the others marked
gains were made.
Government bonds were dull and firm.
State bonds were entirely neglected. Clos
49,. kt@-a x-o.