The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1879-10-29
FINANCIAL And COMMERCIAL
FINANCIAL.
Osrru OF THE INDIANAPOLIS SENTINEL
MONDAY EVENING. Oct. 27. (

OsrrUI OF THE lNDIANAPOLH 6ENTINEL,l
MONDAY EVENING. Oct. q. :
This has been a quiet week SO far as finan-
cial affairs are concerned. The demand for
loans has been moderately active, and as the
banks are well supplied with funds, there has
been no difficulty in negotiating first-class
commercial paper at the usual rates of in
terest.
NEW YORK, Oct. N-Money-6@7 per cent.
Prime Mercantile Paper-597 per cent.
Governments-Firm.
lowing were the changes as compared with
the last previous sales: An advance OF l5s in
IL In chesapeake aud ohio firsts, series B.;
Alton and Terre Haute income and Iron
Mouuta'n seconds; preferred income per cent.
in Chesapeake ana Ohio currency skies: Wa
bash seconds, extra coupon, and Great West
ern seconds, extra coupon; st. Louis and San
Franc sco seconds, class b, rose from 6U to 81 y;
do class c, from IS to 81.
In State bonds the feature was the sale of
5000 Virginia consolidated IS at 6354, against
So at the last previous transaction, september
g. Other issues generally firm.
The business at the stock exchange to day
was on an enormous scale. The speculative
rage which is the present sensation was not
at all alb 3ted this morning. but on the contra
~ made its appearance In the market with
renewed vigor.
The assurances of a speedy return to easy
rates in the loan market on account OF the
large disbursements, both on the part of
quite sufficient to sound again the tocsin of
RISING speculation, ana bring multitudes of
orders from both town and country. The
market opened in the midst of great excite
ment, marked with very puoyaut feeling and
a sharp upward turn, the first transactions be-
ing at an advance of from y az per cent, the
stocks of the South western combination lead
lug of, closely followed by anderbilt shares
and the coal stocks. AS the day Advanced the
ment aud speculative shares participating in
the Improvement, which ranged from Hg6N
xlr Nnxxe rol f~<x. NJ
(tbe price at the close Saturday, to l35.
Rock Island sold up to l4S%, Harlem to 1855.
Chicago. Darlington and Quincy to l22A. Lake
Shore 10 iDl56. Wabash to 571s Leckawanna to
81, New York Central to S0h, Delaware and
Hudson to S1N, Michigan Central to 80, st. Joe
to %, Western Union to l0iH, Pacific Mail to
30, Kansas City and Northern to As, Louisville
and Nashvil g 10 75E, and Iron Mountain to So.
After midday money became somewhat
more stringent and reports were circulated
that Vanderbilt would not be identified with
the Erie management, and that the banks in
tended to restrict certifications, all OF which
had m unfavorable influence on the market.
A general selling movement followed, aud
prices declined n TO 3H per cent Erie led the
decline, and the weakness in this stock had
more or less influence on the entire list. When
1t was ascertained that if any measure is
adopted by the banks to check certification,
no hostile action is contemplat toward
the stock exchange, prices Immediately raj
lied, and the market bee anne buoyant and ex-
cited, with an advance of u to per cent,
Lackawanna showing the greatest improve
ment. All the coal shares were conspicuous
In the ADVANCE. Lake SnOre reached the Nigh
est point since 10. Pacific Mail was notlceably
firm throughout, and 1t Is reported the bulls
will soon put the stock above the party. Erie
and South western stocks were also prominent
IN the Improvement.
Toward the close there was slight reaction,
but final sales were at generally firm prices.
the suggestion TO bank presidents To check
certificat,on is simply a proposal to have a
sort of clearing house, and that each bank
C ear one or more stocks, it being believed
that this would save much trouble and ex-
pense to all parties in interest.
Transactions on the stock EXCHANGE to-day
aggregated SIS 90 shares, of which l560)0 We're
Erie. AZ 000 Wabash. 5000 North western, 49,
900 st. Paul, $4,000 Lqckawanna, 600 New
Je Eey Central, IA 900 Delaware and Hudson,
IL COO Michigan CenLrai, 500 Uno.i Pacific, Du0
c, Y. aud L. e., 900 st. Joseph. i2003 Western
Union, 1900 Pacific Mail, 27UC0 Kansas City
and Northern, l. 900 Kansas and Texas, 2J,Up
Louis vIIe an; Nashville, 1909 Iron Noun
tain 1000 Noule and Ohio. 22O0 Chesapeake
and Ohio. 4,Fu0 Nashville. CHAT ,nonga and ST.
Louis. IL 600 st. Louis and San Francisco, 600
New York Central. 1000 Northern Pacific, and
2,i00 Indianapolis Cincinnati and Lafayette.