The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1881-01-19
FINANCIAL AND COMMERCIAL
FINANCIAL.
SENTINEL OFFICE,

NoSpAf, January IL. 1881.
There was fair amount Of activity noticeable
in the local money market to-day. and no diff
Guilty was experienced IN negotiating frst-class
commercial paper at the usual rates of interest.
New York Financial Market.
NEW YORK, Jan: 17.-Money-Market easy at
/ 595 per cent, closing at per cent.
| Prime Mercantile Paper-5(65115 per cent.
Government Bonds-Quiet aud steady.
Railroad Bonds-Actiye.
State Securites-Bul
The stock market opened strong, and in early
dealings prices advanced 1z@5 per cent. Illinois
Central. ST Paul, Northwestern, and Chicago. ST..
Louis and New Orleans leading the upward
movement Telegraph moved independently OF
the general list Western Union declining Il. per
cent. and American Union advancing 81 per
cent. After midday the entire market declined
| 4@2 per cent, the latter for American Union
In late dealings speculation assumed strong
tone, and under brisk purchases and an
/ advance ranging from u TO - per cent. was re-
corded Canada Southern leading In the upward
movement, Ontario and Western and Pacific Mail
ana northwestern preferred being also prominent
therein: Chicago. burlington and Ouincy which
closed Saturday at It's bid, opened at l6si% re-
coded 10 1871 rose TO ia. reacted TO I705s and
closed at 9173.
The largest advance was per cent, in Wabash
equipment, which sold up to 1921 and the next
largest ~ per cent, In Milwaukee and IT. Paul
gold bonds, which sold up TO lbs, and the next
"a per cent, In Wabash general mortgage skies
which sold up TO 1871. The other changes were
as follows; An advance of per cent. in Mobile
/
Hartford and Erie trsts, per cent in Ohio and
Mississippi seconds IA per cent in Rome, Water
town and Ogdensburg frsts, per cent. in Column
bus, Chicago and Indiana Central income, Mobile
and Ohio new msrtgage, Ohio Central income and
Milwaukee and St. Paul consols. There was a
decline OF per cent. in Iron Mountain seconds
preferred income, per cent in New York Penn
sylvania and Ohio income and Mobile and Ohio
second debenture, and 4 per cent. IN Iron Mount
ain first preferred income.
The Commercial says: 1.-THE common capital
of the Northwestern, Company on the 3lst
of May next will stand on the books Of the
road worth 10. $50 per cent. The common
stands on the books. worth over 1887 per cent
The Graphic says: Vanderbilt, Green and Nor
gan have united in request for proxies in favor
of amslgamation of various telegraph lines
There was strong talk among large traders of 125
Tor Union Pacific this week, and higher prices
were predicted for Wabash stocks" President
business connected with the Wabash Pacific
Road, and some very important new
There is large buying of Wabash for Amsterdam
and London trad S; also, of Ohio and
MlSsiSsippa. An upward movement is
rumored In Burlington and Cedar
Rapids. The Tweuty-third street large
operators are confident of rise in Delaware and
Hudson TO par this week. GOuld's friends anticl-
stocks, in which he is largely interested
during the week The ST. Louis and san Fran
cisco Railway Company declared divi-
dend OF 80 per cent. upon its preferred
ste OK, payable February l. Ii is now stated that
papers have positively been signed for trIparte
freight agreement between the New York Central
and Hudson River. the Michigan Central
and the Canada Southern Roads. Ii is announced
on official authority that the Peoria, Decatur and
Evansville Railroad. Company earned a surplus
last year after fully providing for all expenses
fixed charges and interest on its
income bonds. The stockholders of
Erie preferred have been complaining
for time because they received but per cent.
dividend in 1SS0, claiming that they, as well as
bondholders. were entitled to per cent. there
being net surplus of over S600. 900 over the in
tercst, charges and expenses. The Reconstruc-
ton Committee have agreed to meet this claim,
as Judah Benjamin and his associates have de
cided that, under agreement. the preferred stock
holders must be paid 6 per cent. for eighty, and
also that a dividend on the common must be de-
clared whenever there is surplus over the amount
necessary 20 pay the dividend on preferred.
The earnings OF the Denver and Rio Grande iu
creased S;tS 600 the second week in January. The
yield OF the Lake Superior mines for the year 1850
IS given as 3l5s2 tons Of copper ore, of which CAL
umet and Hecla produced 1882 tons: Quincy,
2,459; OsceOla, 1881; Franklin. 1,59S; Atlantic,
l,676; and other mines amounts less than LOCO
eacb.o Silver mining shares were active to-day,
features. The former rose to $50, declined 20 10
and rallied TO l2j. Late in the day Silver Cliff
rose 10 bid, news that in spite of the loss of
time and poor mill the bullion products and
sales OF concentrates for working nine months of
1850 approximate 275, 0o0 The yield of the Home
stake mine for December amounted to $1,000
The dividends thus far paid amount 70 $4,000.
Transactions to-day aggregated J02, oU shares.
as follows: