The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-09
FINANCE AND COMMERCE.
FINANCE.
INDIANAPOLIS, Oct. 8.

Business in the local money market is moving
smoothly and bankers are loaning aJ z to per
cent, with few transactions at lower rate.
Counter business is active. Mails large.
Eastern exchange sold between banks at 40c to
Doc premium, the day closing with few offerings
at the lower rate. Chicago sold at par.
The New York Money Market-Stock Trans
acknowledging Prices of Government Sc
neutrality-suspicious. of General Stocks.
NEW YORK, Oct. S.-Money easy at 1la02 per
cent. Closed at e.
Prime mercantile paper, 607 per cent.
Governments firm.
In railroad bonds, New York, Chicago and st.
Louis firsts advanced to 994 Chesapeake g.
Ohio currency IS to 4SSi, Texas & Pacific, Rio
GrsDde division, tirsts to 16ls, and OHIO South
ern frsts to 1855 New YORK, West Shore & BG,-
falo first were firm at 1878 to 70 and 1884. Cen
trail firsts declined to 90 and st, Paul & Omaha
eonsols to 100.
State securities dull
The stock market was less active during the
forenoon than for some time this afternoon,
and although feverish and unsettled, was, on
the whole, firm, and the net result Of the fuctu-
atoms up to 1890 was an advance of Is to 1 80
per cent. on the majority of active stocks.
Prices at 1870 we're as high as at the highest of
the forenoon. The strongest stocks were the
coal shares, Northern Pacidcs and St. Paul &
Omaha preferred. Between half past IL and
Q the market was generally dull and lower In
the last hour the market became more active
and decidedly strong, and tine highest prices of
the day were generally made The
advances ranged from 4 to is
per cent, the latter Northern Pacific,
preferred, to GAY; with Il on North western, to
120 407s on Oregon IL TranscOntinental to
524; g on Missouri Pacific, to 96Ss, and 7s0 Il
on other stocks Compared with Saturdays
closing. show advance 4
cent the latter on Northern Pacific preferred
with ! b on Oregon & TranscontiDeutal, d on
New Jersey Central and 1 per cent. on Lacka-
wanna. While the course of prices was variable
during the greater part of the day, there
much firmer undertOne than at the close last
week. The rise in Willard stocks in early deal
ings was met br free sales CT st. Paul, North
western, Michigan Central and Union Pacific, the
bears in addition selling freely in regular way,
and offered a considerable amount "seller
sixty" options at L az per cent. below the prices
of regular. The fact that Oregon 81 Transcon-
tinental and Northern Pacific moved up steadily
during the afternoon, impaired more confide ce
to operators for rise, and the entire list show ed
an improved tendency toward the close,
and participated TO a greater or less extent in
the advance. The bear element showed signs of
nervousness, owing to the heavily OversOld mar
ket. There was good borrowing demand for
Union Pacific, Northern Pacific preferred, Jer-
sey Central, New York Central, Lackawanna,
Louisville & Nashville and Reading. AS high as
IL Is was paid for Jersey Central this morning:
deliveries poor. The belief generally obtains
that large purchases of Oregon & Transeonti-
mental and Northern Pacific were for account of
inG:1;c naTTi.oocc who are also Interested in the
successful placing of the second mortgage bonds
authorized by the directors on Saturday last.
The persistent buying OF these stocks to-day un-
doubtedly induced other operators to give
stronger support TO Union Pacific, st. Louis and
coal shares.
The following notice was sent to the Stock Ex-
change this morning by George William Ballou
& Co.:
''We take pleasure in announcing resumption,
and desire to give notice that all unsettled claims
against this house with be paid in full on presenta-
ton. Very pectfully,
GEORGE WIN. BALLoU & Co."
1t is claimed by parties in fittsburg & West
ern that the reports circulated q few weeks ago
and pronounced false, but now started again,
are circulated for the purpose of shaking out
some of the stockholders, so that control OF the
road be more easily acquired by others
They declare that there is no foundation what
over for reports of financial difficulties of the
road.
The transactions at the Stock Exchange to-day
aggregated $4,000 shares, follows: Della
ware, Laekawanna Western, $4,000; Erie.
1000: Lake Shore 1000; Michigan Central,
1000; Northwestern, 100000 New Jersey Cen
trial. 5000; Northern Pacific, 8,O00 Northern
Pacific. preferred, $4,000; Readinr, 1000; St.
Paul, At 600; Texas Pacific, 5000 Union Pacific,
$4,000; Western Union, 5000; Oregon IL Trans
continental $4,000.
STOCK QUOTATIONS..