The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-17
FINANCE AND COMMERCE.
FINANCE.



Yesterday was very quiet with the banks-more SO
than any day since the failures. A few loans
made at per cent, but customers held down to
the lowest possible point. Eastern exchange freely
offered at from to 81 so discount. Country banks
are still ordering currency Business will be unset
tied until the reorganization of the First National has
been accomplished.
The New York Money Market-stock Trans
acknowledging Prices of Government Sc
neutrality-suspicious. of General Stocks
NEW YORK, Aug. l6.-Money easier at 1903 cent,
closed at 21s.
Prime mercantile paper 51k@s1k,
Governments firm.
Railroad bonds strong; Atlantic 4 Pacific incomes
advanced to &c, Burlington Quincy debenture 3
points. to 81, Erie End consus, to a. Fort Worth
Denver City lists to TO- Kansas & Texas ends to 50,
New York, Lake Shore q Buffalo lists to ~, Rich
mond Danvile debentures to o., Iron Mountain s. to
70, Texas Pacific incomes to So Texas Pacific,
(Rio Grande division iss) to 764 and Union Pacific
sinking fund to ll7k.
State securities dull.
Brokers are in excellent spirits over the strength
shown by the leading stocks, which have been "io-
lently assaed during the last few days The early
advance of Erie 1885, Of Western Union to 74Ss of
Northern Pacific to Az and of Oregon Il Transcon-
tinental to 66%, regarded indications either
that the public beginning to buy freely that
heavy holders stocks determined to sustain the
Jay Gould, Henry N. Smith and Vanderbilts sons
had formed alliance for the purpose of sending up
stocks The stock market, the whole to-day, pre-
scented a more natural and healthful appearance.
The advance at the opening caused largely by the
covering of the shorts. After this
abated and the usual reaction from such
Immediate demands had been experienced the market
became comparatively dull, and from this was re-
vived by buying orders not only local but from vari
parts of the country and from Europe the latter
chiefly from Amsterdam and Frankfort. When West
Union selling at the lowest point brokers
and the price recovered rapidly to "a. The advance in
this stock was the signal for general buying move
ment in other active shares, and the whole list
sold up to the highest point of the day
for borrowing purposes continued active. and To-day
high lilo and paid for New Jersey Central,
and l-l6 to for New York Central The commission
houses report good demand for dividend paving
days business advance of 4 to 2f, the latter
Northern Pacific with other advances follows,
namely: Canada Southern. ~ Central Pacific. /;
Illinois Central ~ Kansas Texas lgs; Louisville
trial, III: Northwestern IA Northern Pacific. COM
mon "a: preferred, l96 Ontario Western, Ia; Pa
cidc Mail ~; Omaha, IL; preferred, IA Texas a Pa
cifc, lA; Wabash, rs.
aggregated 357 n shares, follows: Canada South
ern, 6,001: Central Pacific, h,000; Delaware LackR-
wanna Western. 37,0m; Denver and Rio Grande,
l3.MO: Erie rs 600; Kansas Texas, .0 Lake Shore,
H. COO western 6,oOO: New York Central r. GO0
Northern Pacific 90; Northern Pacific nreferred,
1900; st. Paul L. Omaha, q .0O0 Texas Pacific. 1900;
UPon Pacific, 4. n00; Wabash Pacific, S.00G Western
Jranscontinental, 5000; Canadian Pacific, 1000.