The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1879-10-01

OrTIC1 OF TIE INDIAN2poLB SENTIHrL,
MONDAY EVENING, Sept. %. (
There hae been "a fair amount Of business
doing in the local money market during the
past week. The banks are all well supplied
with fufl DIS, and are meeting the wants of their
regular customers promptly at the usual rates
of interest.
New York Financial Market.
NEW YORK, Sept. 23.-Money-5@6 per cent,
closing easy at per cent.
Railroad Bonds-Strong and higher. The
feature OF the market was again an enormous
transaction in Erie second new consolidated.
whic advanced ~ per cent. TO S01a The next
per cents funded, which advanced ~ per
cent to 7S%. The largest rise was per cent.
in Jersey Central convertible assented. and
the next, per cent in Alton and Terre Haute
income The Commercial says: There is no
question that the next election Tor managers
the second bonds including the per cents !,
under the same mortgage, on much higher
firsts brought 7SN. State securities were dull.
The leading feature on the Stock Exchange
to-day was Erie. which, amid great exciIe
ment and under extraordinary trans sctions,
advanced to 3i5S for common and 60 for pre-
!erred. In early dealings a very bnoyant
tone prevailed, and prices advanced LS33ss,
Michigan central leading the upward move
ment, with Lake Sho e, Granger and coal
stocks also prominent in the Improvement.
In the afternoon, uncer sales TO realize profits
the general list reacted N9l per cent, while
New Jersey Central fell OF Ok. Hannibal and
ST. Joe preferred and st. Paul and Sioux Ciry
per cent In late dealings, the market be-
came firmer, and there was y partial recovery.
Transactions aggregated ,U0J shares, which
Is the largest SINGLE days transactions since
the hours of dealings were changed. TIE
early rise in Erie was due TO an advance at
London, increased earnings, and revival OF
reports that Vanderbils, Gould and Field were
buying; that the board of directors would be
reconstructed ut the October election; that T..
ID. Morgan would be made president. and that
the London trustees were in sym PATTY with
the programme. The Graphic says: The bulls
argue that Erie is the only trunk line stock
that has not up to this time largely advanced
while Northwestern, St Paul, and Lake shore
have advanced from 20 TO 80 per cent, Erie has
remained stationary. 1t Is low generally be-
lieved that Gould and Sage have bought, and
continue buying, largely of stock. under an
Erle will be made the Eastern connection of
the south western combination. The recent
large purchases OF Pacific Mail are baseu upon
statements that the Indebtedness of the COM
pany is being rapidly reduced, and its nnan-
tial condition consequently greatly Improved.
Transactions on tbs Stock Exchange to-day
aggregated 46i. 900 shares, OF which 100 We're
Erie, Il 900 Lake Shore, 10000 Wabash, 81 go
Northwestern, 1900 81. Paul. u 900 Lackawan-
ma, 5000 New Jersey Central, 10000 Union
Pacific. 5000 c., c., g. and l.. 4,0JOC., c. and
l. u, 1900 Hannibal and st. Joseph, l50UO
Ohio and Mississippi, $500 Western Union,
5000 Pacific Mail. 400 ST. Louis, Kansas City
and Northern, $500 IroA Mountain $500 Kan
sas and Texas, 200 louisville and Nashville.
2,400 Houston and Texas, 800 st. Louis and
San Francisco, 2,y00 indianapolis, Cincinnati
and Lafayette; and 700 Northern Pacific.