The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-28
FINANCE AND COMMERCE.
FINANCE.

INDIANAPOLIS, Aug II.
Business was brisk with banks. AS usual, the
Monday mail was large. Checking and de-
posting we're also active. There was rather
more inquiry for loans, and desirable paper was
discounted to limited extent at per cent.
Eastern exchange was unchanged at SOC to 81
discount The country called for a limited
amount of currency, but, as whole, this class
of balances increased.
The New York Money Market-Stoek Trans
acknowledging Prices of Government Sc
curities-o Quotations of General Stocks
NEW YORK, Aug 27.-Money easy at 203
Per cent? closing offered at per cent.
Prime mercantile paper 5l996P per cent.
Government bonds firm
Railroads quiet,
State securities duh.
The stock market was very much depressed
during the forenoon by variety of rumors and
allegations in regard to various stocks, and also
In regard to the financial condition of one or
more commission houses. So far be
learned by inquiry there was not a word OF
truth in any of the reports, and it is apparent
that they were started for the purpose of max
Ing break in the market. The audacity Of the
fabrication. however, was such as to cause
break which was not fully recovered during the
forenoon. The net result of the trading up to
1890 was dscline of q TO per cent. on active
stocks, the latter Like Shore and Oregon &
Trspscontinental with is PSF cent on Northern
Pacific preferred, per cent on Michigan
Central, and fraction ether stocks.
Although there was considerable improvement
In the prices OF stocks in the last hour and a
Hrmer tone In general, tho rosule of tho day's
business was decline of 4 to ga per cent, the
latter on Lake Shore, with gle per cent. on Ore
gon TranseontiBental and Northern
Pacific preferred, 4 on Northwestern, 17s
on Central Pacific. 1ls on canada southern,
Common, with per cent. on Memphis g. Charles
ton. Reading and Denver were exceptjaps to
the general decline and closed ~ and 81 higher
respectively.
The Evening Post says: 1.-THE most reasona-
Bile explanation of the depression in the stock
market, to-day, Is that a certain large operator,
VINO has for a good many months been on the
bull side and been carrying large blocks of Lack
awanBa and Lake Shore, has found 1t impossible
to unload these stocks and has turned bear on a
Number Of other stocks. in order to Offset the
decline on those he holds Lackawanna has
been churned up and down for ak months over
comparatively narrow range, the sales
emounting to five or six times the total capital
s% months ,5 the has enabled ie last
work off only portion, and consequently it is
believed he has to-day resorted to the tactics
above mentioned. There seems to have been
preparations and definite purpose in the manner
in which the canards about the embarrassment
OF Boston bank, etc, etc., were sprung upon
the market"
The transactions at the Stock Exchange to-
day aggregated 4O9,0 shares, as follows: Cen
tral Pacific 1000, Delaware, Lackawauna q
Western $4,000 Denver Rio Grande 1000,
Erie 5000, Lake Shore $4,000, Louisville d.
Nashville 10000. Michigan Central 5000 North
western 5000, New Jersey Central 1900,
Northern Pacific $4,000, Northern Pacific pre-
ferred SO 900. Reading 2,00O Milwaukee & ST.
Paul 5000, Texas Pacific 5000, Union Pacific
10000, Western Union 1000, Oregon & Trans
continental $4,000, Canada Pacific 5000, Mani
toba 5000.
STOCK QUOTATIONS.
EXCHANGE AND GOVERNMENT SECURITIES.