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

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The New York Money Market-stock Trans
misunderstanding Prices of Government Sc
neutrality-suspicious. of General Stocks
NEW YORK. Sept. s.-Mouey is easy at 202l9
per cent, closing offered at . per cent.
Prime mercantile paper, 51a06l9 per cent.
Sterling exchange, bankers bills are quiet at
asia for sixty days, and 4854 for demand
Bar silver S1.O97s.
Government bonds were steady.
State securities were dull.
Railway bonds were steady.
Speculation at the Stock Exchange presented
marked changes as compared with the previous
days of the week. In the first sales the market
dropped 402le per cent, Louisville & Nash
vile, Michigan Central, Northern Pacific, Oregon
& Transcontinental and Reading suffering the
most. In the first hour, however, there was a
recovery of 4014 per cent, lead
ing. This was again followed by a pressure to
sell and still lower prices prevailed The de-
cline from last nights closing ranged from 120
34 per cent, the vanderbilts, Changers, Denver
& Rio Grande, Louisville & Nashville, Northern
Pacific, Oregon & Transcontinenta and Wabash
preferred being particularly weak. Michigan
Central sold down to 82a4, Canada Southern to
$50, Lake Shore to lO1a, New York Central to
10, Northwestern to 125ls, Milwaukee & st.
Paul to 1O4la, Chicago, Burlington & Quincy to
124l2, st. Paul & Omaha to 415s, do preferred
to 1929, Northern Pacific to 40, do preferred to
"A, and Wabash preferred to 334, AT the close
some shares rallied 1s0l per cent, while Others
sold at the lowest of the day. Union Pacific and
Northwestern were quoted ex. dividend of 81 and
2 per cent. respectively. The depression was que
to reports that the Gould party would not enter
the Louisville & Nashville directory;
that President Rutter of the New York
Central had ordered the rates reduced to what
ever figure necessary to obtain business, and
that the corn crop had been seriously damaged by
the frost. The two aforementioned reports Were
emphatically denied. In regard to the alleged
damage to the corn crop, opinions differ widely,
some houses having private wires heing in receipt
of kilograms predicting the largest crop ever
harvested, while Others received word that the
crop had been seriously harmed. 1t was said
that the reaction was partly due to yesterdays
heavy reallzations, and to the tact that the bull
leaders themselves encouraged sales in order to
force out small holders; at least the brokers ideu-
titled with those who were recently on the bull
side were active at first in depressing prices, and
equally prominent among buyers in the after
noon. In the specials American Cable declined
1 per cent, Chicago, ST. Louis d Pittsbure pre-
Iearea h per cent ren;; 1 Me%n6, 3 St CSnrgon ~ a.
per cent, Minneapolis & st. Louis preferred 2l4
per cent, Norfolk & Western preferred l per
Palace-car l4a per cent, st. Paul. Minneapolis &
Manitoba 1l9 per cent, Colorado Coal l % per
cent, Bankers and Merchants Teleg aph rose
u per cent. and Ohio Central p per cent. The
sales of stocks for the week aggregated 2,534, 776
shares, an increase of 223, 202 shares,
The exports Of specie from the port of New
York for the week ended to-day were S450, $50;
total since Jan. 1, Sl0.569,865. against S42,
550,06S for the same period In 1882. Imports
of specie for the week, 1925, 480; total since Jan.
l, l0,670, 1893, against 1874, 8 10, 94l for the same
period last year. The weekly exhibit of the
New York city associated banks is unfavOrable,
showing a loss in surplus reserve of 81 ,736, 525.
expansion in loans, 81, zoe, 700, and loss in cash,
8 ,947,400. The liabiltirs were reduced $S47,-
500. The banks hold 81 ,4S7.5 SOC above the le-
gal requirements, against a deficiency of 81 $780,
275 for the same week last year. The state
West and South to assist in the movement of the
crops.
The total imports, exclusive of specie, for the
week ended to-day We're SS,437.546. of which
So, 551 $50 were dry goods and 70, 905, S64 were
general merchandise. The total imports since
Jan. l were 1920, 773,015, against S352.552,672
for the corresponding period last year.
The transactions at the Stock Exchange to-day
aggregated 442, 900 shares, and included 5000
Canada Southern, 1000 Central Pacific, $500
Delaware. Lackawanna & Western, %. 900 Dem
yer q Rio CIR nde, IL 900 Erie, 5000 Kans - e
Texas, 10000 Lake Shore, 10000 Louisville &
Nashville, 5000 Michigan Central, 1000 Mis-
souri, Pacific, 1900 Northwestern, 5000
New Jersey Central, $4,000 New York Cen
trial, . 5000 Northern Pacific, 8 200 Northern
Pacific preferred. 10000 Reading, 41,000 MI
waukte q ST. Paul, 1000 Texas & Pacific, $4,000
Union Pacific, 1000 Wabash Pacific, 10000
Western Union, 10000 Oregon q Transconti
mental, and 5000 Wabash preferred.
STOCK QUOTATIONS..