The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1881-01-12
FINANCIAL AND COMMERCIAL
FINANCIAL.
SENTINEL OFFICE.

1
MONDAY, January 10, 1851.
! We have nothing of special importance TO not,
in the local financial market. The Transaction
are on liberal scale. The supply OF funds IS am
| pie, and gilt-edgc paper is easily negotiated.
New York Financial Market.
NEW YORK, Jan: undergraduates easy a
] 595 per cent. closing at per cent
Prime Mercantile Paper-)d6 per cent
Government Bonds-Strong and higher.
Railroad Bonds-Lehigh and wilkesberre in.
come advanced 10 - from -, Minnesota and 81
Louis iirsts 10 ll3 from ITO. c. G. and l. e. firsts e.
III from l0919 Boston, Hartford and Erie rsts "a
j5 from 81 Rome, Watertown and Ogdensburu
hrstS 10 $50 from 81 y. Kansas and Texas Seconds
10 1e14 from ~ International anu Great Northern
hrsts 70 1919 from lO7, Peoria, Decatur and Evans
vile income declined tO 49, from 80 Mobile and
ONO second debenture 10 81 from - and Bur
lingtOD and Quincy sevens TO rs from l2g.
Slate Securities-Dull.
The stock market opened strong, and under
heavy purchases the entire list advance sharply.
the upward movement continuing without
important interruption until after the second
board. when Improvement in prices ranged y 10
~ per cent, Telegraph shares being the most
prominent therein. American Union selling mp TO
.5s4 per cent, Western Union e5'4 per cent,
Atihuuc ana racine Telegraph 31z per cent. st.
Louis and san Francisco preferred rose 10 -. per
cent. Canada Southern AZ per cent, Pacific Mail
- per cent. and Reading per cent. In the late
dealing sales, 70 realize profits, caused reaction
ferred.
Inc ,rraphie says: The books OF the Hanni-
bal and st. Joseph Railroad Company closed to-
dGy for payment of semi-annual dividends upon
preferred stock. After paying the two dividends
on preferred stock u surplus OF about S30O,uo0 on
operations for the year 1889 win remain. The
management have now decided TO adopt plan.
that was limited at the last annual report for re-
Organized funded debt and necessary legal pre-
liminaries are in process Of being taken. \ con
sOiidated mortgage OF SSO00,000 AT + per
cent, is proposed on the sos miles
list = halo
those now paid. The value of the land notes re-
vcrting 20 the Company, after paying off the bal
ance OF the land grant. Is estimated as follows:
Land notes to be returned by the Trust Company
after paying Off the remainder of the bonds, a.,
900 COO estimated value of - GOO 600 acres Of free
land, 5000 OOO outlying lands SO 600: total land
assets - go 900 These assets will return TO
the Company and their income viii be applca-
bic TO dividends so that with the fixed charges re-
duced sl74,OO0 permanent dividend is assured
ON 500, 600 preferred stock. Without this in
come the road has earned dividends for preferred
and carried over beside surplus OF about $780,
GO. In the past two years the main line between
Quincy and Kansas City, 22G miles. has been
felaid with steel rails, all except twelve miles, a
floating debt of sS.00O,0O0 has been paid of, the
equipment has been brought into first
been reduced by cancellation S67 ,O0O.
bonds due February 1, 1879. OF the SS72, 600 land
mt o 1nGd has been fg5sd by
AL interest due Januaty l. the Hannibal Company
starts the year with $500 600 in bank in this city,
ana WIN hCaVN ana increasing business. Inc
above statement is official
The Burlington and Quincy people in Boston
are credited as buyers of 81. Joseph preferred
from 80 up to the present figures.
The shorts in Western Union have been terri
bly, twisted by the last rise in the stock. The
losses OF prominent operator. who Is an ultimate
friend of Vanderbilt, are estimated s. 600 g0U.
A relative of the latter lost $4,000. and Broad
street broker lost about the same amount. 4
prominent New street operator lost $1,000. ID
a former partner of Gould dropped about SIS 600
q * stated ffDlln
Palmer and DR.. Marvin Green. OF the Western
Union Telegraph Company held private con-
ference ON Geographic matters ON saturday alter
noon. II Is rumored that way was paved for
peace X not for pooling OF earnings, amalgama-
ton or consolidation of Companies
The Commercial SAYS: "Fhree OF the great
no interest or communication in common, are
credited with making the great bull turn of %
per cent in We,tern Union Telegraph. We mean
Vanderbilt, kecne aud Gould" 10
The simultaneous great rise I'm Western Union
and American Union Telegraph induce suspicion
that rival operators understand each other, and
interest is almost sure TO occur at no very distant
day
< dispatch from London this afternoon states
that the Northern Pacific loan is = per cent. pre-
MUM bid, and that allotment WAS made on a
basis of 10 per cent.
From the GraDhic: A French syndicate are
YET negotiating for block OF 100000 shares of Wa
bash preferred stock and Judge Parsons IS ia
Paris conducting the operation"
IL is rumored that prominent Wall street
operator will this week enter the cotton market,
which is 20 he manipulated for higher prices
The gross earnings of thirty-eight railroads show
an increase OF SIS. 900 OOO for the year 1850. The
earnings OF the Denver and Rio Grande show an
increase oil $1,000 for the first week in January.
The Burlington. Cedar Rapids and Northern earn
ingS for the fourth week in December show gain
of $3.50. The Peoria, Decatur and Evansville
traffic Tor the last ten days In December increased
S6.22J. The Lake Erie and Western earnings Tor
the month of December show n gain of 50. 500.
Transacuons aggregated III, OO0 shares, a. fol-
iOxvg.