The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-02-11
FINANCIAL AND COMMERCIAL
FINANCIAL.
OFFICE OF THE INDIANAPOLIS SENTINEL
MONDAY EVENING. Feb. 9. lSSe.

OFFICE OF THE INDIANAPOLIS SENTINEL,l
MONDAY EVENING, Feb. 3, 1880.
The local money market has been fairly act.
i've during the week closing with this even
ing. The demand for loans has been steady,
and frst-cIass paper is being easily negotiated
at the usual rates of interest.
New XOrz Financial market.
NEW YORK, Feb: 9.-Money-596 per cent"
Prime Mercantile Paper-5a51z per cent.
Government Bonds-Strong; Hg5sc higher I;
new is making the greatest advance by reason
of orders from savings banks and other insti :
buttons. The former are buying in expecta-
ton of the passage OF an act by the Legisla-
ture requiring savings banks to keep " per
cent OF their deposits in Government bonds.
Railroad BOnds-Generally lower. but with
out important change.
State Securities-Dull.
The stock market was generally higher
early IN the day, the advance ranging from
Z92% per cent, the latter in Canada southern.
and prices declined 14dH per cent. In coal
shares, c., c. and C., Kansas and Texas and
the Northern Pacific leading in the downward
movement. The break in coal shares was
based on reports that companies had reduced
prices for coal. Reports from IS Western roads
show gross earnings of 3, O65,39S for January
against S6,246,OSl for the same month las. year,
gain of 81 Sl9,3l4, or nearly 80 per cent Every
road with the exception of three shows gain
in traffic. The lines showing the greatest i'm
provement were: Atchison, Topeka and
Santa Fe, sl5S,76S; Chicago and Alton, SIS, !;
st. Paul, Il,oIoi Northwestern, szo,0iS;
IRON IRON Mountain, 2ls,5sS; st. Louis ana San
Francisco, 1927; Union Pacific, 69,27t; Wa
bash and Pacific, 209,250. The earnings of the
Illinois Central decrease s5s. 600 for January.
The New York Stock Clearing House opened
to-day and the experiment of clearing stocks
was tried. About 100 brokers consented to
clear through 1t for a week, and much interest
was manifested where brokers made Out their
statements correctly. Clearings were made
in a short time, and to the entire satisfaction
OF all, but IN some cases brokers did no. send
in their statements promptly, and this, of
course, interfered with business. 1t is expected
matters will work smoothly IN a few days.
Mr.. Hunt, manager of Central Arizona, mas
left for the Territory with letter of credit for
$3.50 900, to be used Tor the purpose of bringing
water TO the mines and increasing the num-
Der of stamps to 100. The Deadwood Mining
company declared its second dividend of %
cents per share for the mouth of January,
payable on the Goth. The transfers close on
the l4th, An extra session Of the NORTH Caro-
lima Legislature will be called March III for
the purpose OF considering the proposition for
the purchase of the interest of the state In the
Western North Car DINA road.
Transactions to-day aggregated Slg0O, OF
which 5000 were Canada Southern, l,SOl Ches-
apeake and Ohio, $500 c., G. and l.. c. 1000
Central Arizona. 2l,000 Lackawanna, 25,0G0
Iron Mountain, $500 st. Joseph, 1000 Kansas
Lake Shore, 1000 Michigan Central, 1000
Marietta and Cincinnati first preferred, 800
Northwestern, IL, 600 Nashville, Chattsnooga
and st. Louis, 5000 New Jersey Central,
sisslppi, $500 Pacific Mail, 2,400 Reading,
800 st. Paul. leo st. Paul ana Sioux City,
1900 Wabash and Pacific, ! so Western
Union. 1900 quicksilver, 1900 Erie. $500
Little Pittsburg. and 23,OO Northern Pacific.
The Marietta and Cincinnati, first preBrred,
closed at l3Izc, and the Nashville, Chat
tanooga and st, Louis at SIG.
GOVERNMENT SECURITIES.