The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-01-28
SHANGHAI AND COMMERCIAL
FINANCIAL

banks have been about as heavy as for several
weeks back. The supply of funds is amply
sufficient to meet the demands of our business
community, and strictly gilt edge. paper is
easily negotiated at the usual rates OF interest.
sew Tork Financial Market.
NEW YORK, Jan. 26.-MoneyN9s per cent.
closing at 5 per cent. rr II. DlnI ue 10
Prime Mercantile Paper-595 per cent.
Government enthusiastically and unchanged,
except for sLs, which declined y.
The weakness in sterling to-day was due to
cradle amount of New York Central stock in
London is likely to lead, IN tne early future, 70
also to the general belief that a resumption OF
the export movement in grain and provisions
is near at hand.
The transactions in railroad mortgages were
on a scale of great magnitude, and speculative
interest in this class of securities is steadily
increasing. Prices advanced u to 8 per cent,
with the Fries, Kansas and Texas, O., c.. and
j. e., Denver and Rio Grande drsts, Ioterna-
tional. and Houston and Great Northern Issues
as the feature. The greatest advance 70 per
cent? was in international seconds and pur-
chasing committee receipts, and Great North
ceipts. Erie consol seconds sold up 10 sos, c.
c. and 1. c. firsts to 9FA, supplementary 20 96
and incomes TO so; Denver and Rio Grande
frsts Toss to SSI
State Securitles-Dull.
The STOCK market opened strong for the
general list, ana prices advanced u TO ~ per
cent the latter for st. Paul and Minnesota. a
weak feeling set in at tue first board, and a de-
cline of "a to IL per cent. ensued. Northwest
ern and the coal shares leading in the down.
ward movement. After midday the market
again become strong and buoyant, and con
TN ned So IN the close. the advance ranging
from = to 81 per cent, Wabash and Erie being
the chief features OF the Improvement. IT.
per cent. from the highest point. Kansas
Pacific fell of 81 per cent. Union Pacific ad-
fnd~isnaDolis. BLOOMINGTON and Western adj
vanced ~ per cent. and reacted % per cent.
The general market closed strong.
The present move in Wabash is said to have
been delayed until the Union Pac fc CONSOLE
dation was completed, which was on Saturday.
The movement in Erie, strange as II may
seem, has the apparent support OF Vanderbilt
people. Various reasons were assigned Tor
the strength OF Erie and Wabash. The
activity exhibited by Ere on Saturday and
to-day has excited considerable curiosity.
arrangement OF pooling percentages between
the Erie and New York Central, and its allied
roads. By this Encouragement IL is commended
that the Erie will be benefited 30 the extent of
100000 per annum. The Lake Snore and
Michigan central are sald 10 De also largely
benefited by the new ARRANGEMENT. IL Is
stated that calls on Russell Sage for some
5000 shares OF Wabash stocks expire to day.
Wabash stock have been kept below calling
point, and that calls Be1ng out OF the way,
these stocks are likely to ADVANCE The
Commercial saws: various rumOrs are cur
rent as TO where free M Jing of Erie comes
from. The stock seems 10 have too many
friends and in too many directions to author.
ize the statement that it owes its %buovancy to
any one or more great operators. IL IS, in
EIul1. TIT ltNOIAlt vi lnC PuOtlC IL nDOSHA OOO
opinion and confidence in the future OF the
stock JeWett and Vanderbilt largely share.
At ali events We are quite sure these distln-
guished railroad authorities understand each
other. The prospect of Erie obtaining a good
percentage of the New England business also
helped the advance. 1t is said new ball COM
-5inations are forming among prominent per-
ators. II appears that the bear movement in
, Central Arizona had not b zen very successful
The Commercial Advertiser publishes the fol-
lowing relating thereto: "The excitement in
Central Arizona, we are assured, which has
been the mining sensation OF Wall street for
the past month, seems like y TO continue with
increasing intensity. IL appears that the
young operator, who has been manipulating
the stock, being more bold than prudent and
experienced, has been led by his temporary
successes TO put himself into q very
dangerous trap. II is known he has been
q heavy seller OF Central Arizona
Tor several days, and II now
transpires that he is short OF stock, and an
attempt of his brokers 10 buy on Saturday
developed the fact that there was very hGtle
stock offering, and they only succeeded in
getting about 5000 shares on ~ per cent. adj
vance. IL is SAID william Bond, president of
the company, formeriym manager OF the A., Ia.
and Il. railroad, and his friends, bought last
week 5000 shares of stock, which will be held
for much higher prices. All attempts of the
speculator referred to above, assisted by a
prominent evening paper, To disparage the
property to enable him to buy, have proved
unavaling, as its value Is too Wen appreciated
by its promoters, and but for the sales of this
party, II would undoubtedly have been selling
at % to-day. His brokers were large borrow
ers OF stock to-day. A stock that $O per share
can be borrowed on may be said to look cheap
at present prices"
the Graphic SAYS, regarding the same trans
action: /" a certaino perator in Central Arizona
stock Is said to have burned his fingers pretty
badly. Taking advantage of a sharp
stock, Iand, in addition, went short,
while the pool in the stock refuse TO let anyof
il 90, and are encouraging dealings by making
the stock negotiable as collateral. The COM
pany has an unquestionaoly valuable prop
e eG6yyb but If If s rs ONE thSS sh % mir not 3S6 9e m1d eaS a
to work will pay best on its merits. The
whole amount asked by Woerishoffer & Co.
for the:PueDlo and St:Louis railroad was sub
scribed in three days, and the first call OF 10
per cent. was made to-day. 1t Is expected the
line will be completed in 10 months by work
ing from both ends, Pueblo, Col, and Nc
Pherson, Kas."
Transactions today aggregated S5L.WO, OF
which 1900 were Canada Southern, 2,0O0 Gem
ira Arizona, $500 Chesapeake and Ohio, 5000
&C.. and L. q $40 Chicago, Burlington and
st. Joseph, 200 Houston and Texas, 1000
Iron Mountain, 2,4o Il, 2; and l., 4y@
Central. 10000 Northwestern, 5000 Nashville,
Chattanooga and st. Louis. 1900 New Jersey
Central, 5000 Northern Pacific. 1900 0nio,
300 Pacific Mail, IL. 600 IL. Paul, 200 st. Louis
and San Francisco, 1905 Union Pacific, 5000
Wabash, 1t. Louis and Pacific, and 400
Western Union.
GOVERNMENT SECURITIES.
sterling, 50 days. 4SIhlNew > per ceRts...I 1885
Sterling, sight.~..sS3kiU S. 4hs------.-~pu7H
o. s. 6s, ST.. .....l0IssiNew US. 4s-...-.t03A
NoTE-IHe puTCudbluB price lOI OoNCiuhncut
bonds in indianapolis varies from the New
York quotations x9l per cent.
STATE BONDS.
Pacific Is of @..-.--l2 Tenn. 6s, new. 3lX
Louisiana 7%s-~.... i71SlNirginia 6S---.----. %
Missouries-.---.--l06 Iva. 6s, new-.--"-.. 20
st. Joe.......-. ......-l0i Wa. consols. ......-. 20
Tennessee s.--..... 80 do. deferred .--...- So
GENERAL STOCKS.
Rock Island .....-.-l49 Iron Mountain 50
apama.....-....-l lSt. l.. and San Fr.. 43%
Fort Wayne. .-....-ll4sS Z. L. and 8. +. pfd.- So
PittShurg .......-....1llk Do. first pfd....--. 70
Hin lis Central. *lN Chi., st. J.. & n. 27H
Chic, Bur. and Q-.l5O Kansas and Texas. 1875
Chic. and Aiton.--l0S Union Pacl1ostks. 95A
O. and A. pfd----l20 kansas Pacific .-;. SO
N. Y. ZlEorthern Pacific IS
Harle a .....-...-----i5S IDo preferred--.--.. IS
Lake Shore .....-. 1907 lLOuisville q Nash. l24[
Canada Southern. 1szlHouston x Texas. 1871
Michigan Central. S9xl W. L. Telegraph .-l03H
Erie.... ... ......-......-~. s65slA. and J.. Tef-.--.. 4lA
Erie preferr6d.-..... 72IlPacihc Mail -......... 3y5S
North westexn-.-... S9TILittle Pittsburg-.- "a
Northwest'n pfd--l05 Reading .-..-.. ...- 6zz
4 81. Paul.....-...... UHlAdams ExpresS.--lO7h
st. Paul preferred 102l Wells q Fargo Ex.l00%