The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-29
FINANCE AND COMMERCE.
MONEY AND STOCKS.
Pork Men and Manufacturer Heavy Bor-
royers of the Banks.

Pork Men and Manufacturers Heavy Bor-
rovers of the Banks.
INDIANAPOLIS. Dec. %.
There is a fair demand for money, and the
banks are ready discounters at the standard
rates OF 7 ana 8 per cent. though these figures
are frequently shaded when old customers are
applicants for loans or gilt-edge paper is offered.
Mercantile houses are not borrowers, and the
demand may be said to come almost entirely
from pork men and manufacturers The country
banks are heavy borrowers, too, and large sums
have been shipped to the interior. This is prob
ably for the accommodation Of packers and
farmers, but with all the supply of loanable
funds is in excess of the demand, and promises
to continue so for thirty days at least.
Eastern exchange is quoted at fifty cents pre-
MUM between banks.
New York Stocks Active and Irregular.
NEW YORK, Dec. 2s.-Money is easy at ga
2la per cent.
Prime mercantile paper 5G6l9 per cent.
Sterling, sixty days, 80; sight, 30.
Dry goods imports for the week, $1,469,00
Government bonds were strong.
Railway bonds were ire gular.
State securities were quiet.
The principal results of to-day's trading on
the stock market are considerable advances on
granger stocks and Canadian Pacific, with a
moderate one on Vanderbilt stocks, while all
Northern Pacific stocks show importat declines.
The principal advances are: ST. Paul, lie, to
81; Northwestern, III, TO 117Ie: Canadian Pa
cifc. 1la, to 515s; New York Central, 81, to 1888;
Lake Shore. So. TO 967s, Burlin gton IL Quincy,
90, to 1904. The most important declines were:
Oregon Railway & Navigation, 7per cent, to
80; Oregon & Transcontinental, 29s, to 32l2,
and Northern Pacific preferred, $50. to 50l4; Or
-. . "a oant = n EsO
After IL, Wabash stocks were raided, common
falling lie and preferred 15s, on the report that
the company intended issuing So, 600, 600 new
bonds. The company authorized $40, o 1000 a
year ago, but have just. negotiated 100000.
The general list reacted slightly in sympathy
after l o'clock. Oregon Navigation broke from
1004 to go on the rulnOr that the dividend
would either he reduced or passed. These re-
ports were subsequently denied by tie officers
ders until the price reached 81, from which fig
IRE 1t was quickly advanced to 81. Near the
close il returned to 80. The real reason Of the
decline was that Boston sold stock in this mar
kef. The bears discovered the orders, and, as
usual, took the market away from the sellers.
The Northern Pacific and Oregon transfers were
decidedly heavy in the late dealings. All sorts of
reports were current. The most important were
that Willard would resign the presidency of the
Northern Paci1c Today or tomorrow
and that the investigating committee
had discovered large defaleations in
were weakest, a leading Exchange place "bear''
bought nearly 10000 shares OF Oregon g. Trans
continental. Union Pacific stock opened at 74l4,
rose TO 747s, fell and closed at 747s0744.
grangeFs, c0alers and Vanderbilts were strong
until near the close Notwithstanding the raids
made against Wizards ana Wabash. In the
final sales, however, the prices ran off 4 to 3e
per cent.
In specialties. New York, Chicago & st. Louis
preferred rose to 19, and United States Express
declined to so.
TRANSACTIONS at the Stock Exchange to-day
aggregated $4,000 shares. Delaware, Lacka-
wanna & Western, 30, 900; Erie, 10000: Lake
Shore, 1000; Louisville & Nashville, 5000;
Missouri Pacific, 5000; Northwestern, 10000;
Northern Pacific, $4,000; Milwaukee & St.
Paui, $4,000; Union Pacific, 50, 900; Western
Union, 5000; Wabash, 10000; Oregon & Trans
continental $4,000; Quincy, 6,0o0; Canadian Pa
eific, 1900.
STOCK QUOTATIONS.
EXCHANGE AND GOVERNMENT SECURITIES.