The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-13
FINANCE AND COMMERCE.
FINANCE.
INDIANAPOLIS, Dot. l.

INDIANAPOLIS, Oct II.
Business with banks has been phenomenally
quiet for several days. The movement of pro-
duce has been very light, and New York ex-
change has commanded premium. The day
closed with more liberal offerings, and Csc
would be a fair quotation.
The demand for money is well sustained and
comes largely from manufacturers Rates are
firm at per cent. with an occasional transac
tiOn at per cent.
The New York Money Market-Stock Trans
acknowledging Prices of Government Sc
INTERPRETATIONS of General Stocks
NEW YORK, Oct. 12.-Money is inexcess of
demand at 1la02 per cent. Closed at 2.
Prime mercantile paper, 607 per cent.
Dry goods imports for the week were So, 1885,
900.
Governments stronger; tours rose to 81 bid,
four-ahd-a-halfs registered to 114ls bid, and
four-and-a-halfs coupons to HAS bid
Railway bonds firmer for West Shore firsts,
which rallied to 77le, after selling down to 76la
Kansas & Texas seconds lower, at so, and Texas
Pacific incomes 49049l9
State securities dull.
The stock market was generally duh and
weak. During the forenoon the principal bust
ness was in Northern Pacific and Denver,
which comprised about one-half of the whole
business of the forenoon In the early after
noon the market became fiTmer and prices ad-
vanced. In the last hour, however. there was
another decline aud recovery of
importance later to note. Prices compared
with the close on Thursday night are 1s
to 1 L. per cent lower for Denver, trunk lines,
Oregon d TranscontiBental and Gould stocks.
Chicago, Burlington q Quincy, LackawannH,
Manitoba and Union Pacific, however, were
1s to 50 per cent higher. In specaties, Chicago,
ST. Louis Pittshurg fell off $7s per cent, TO II,
quently rallied to IL bid. and the latter to 40
bid Alton &c Terre Haute preferred sold down
to 81; Milwaukee, Lake Shore & Western pre-
ferred 3 q, To 36la; Minneapolis d st. Louis l, to
90 Oregon Improvement 2l9, Co rs; Colorado
Coal 80, TO ! g Il, and New Central Coal l, to 8.
The raid on Lake Shore, which more or less af-
fected the whole market, was based on a rumor
that the Pennsylvania road hadissued circular
making sharp reduction in rates to points in
Pennsylvania and New York State along the
West Shore road. Investigation of this rumor
showed that it had no foundation. prominent
bear operator credited with desire TO cover is
accused of being indirectly the author of the
gumor Other reports attracting considerable
attention were to the effect that the West Shore
road had been leased the Grand Trunk, of
Canada and still later to the Pennsylvania. IL
is admitted that negotiations are in progress,
but are not sufficiently advanced to make any
positive statement.
II is said the difference between STexas Pa
chc and dissatisfied income bondholders are be-
ing arranged. Denver Is weak on the issue of
$5,000,000 new bonds aud q like amount of new
stock. The Denver d Rlo Grande transfer books
will be open tomorrow. The directors have
issued circular to the stockholders. which
provides that the company, under existing con-
tracts, is authorized to offer toits stock
holders appearing as sIlch on The books at the
CLOSE of business Sept. II, 1888, for
subscriptions pro rata, $5,0O0,00 general
mortgage, convertible to stock and So. 100000
stock of the company on the folio wing terms and
conditions: Subscribers will receive FOR every
$3.50 cash subscribed and paid in 81 900 bonds
and ST 900 stock, subscriptions TO be pay able in
three equal installments, the first Immediately
upon acceptance by the company, the others
upon ten days notice, but not more than one in
stalment TO he called for during one calendar
month. The right to subscribe will expire Oct.
80, 1888. The bonds to be issued VIII be either
coupon or registered according TO the option of
The subscriber.
Transactions were 321 900 shares, as fol-
lows: LacRawanna & Western, 81 900: Denver
81 Rio Grande, 1000; Erie. 1900: Kansas &
Texas, 5000; Lake Shore. 1000; Louisville &
Nashville, 10000; Michigan Central, 5000
Northwestern, $1,000 Northern Pacific. 100000
Northern Pacific preferred, $4,000; Readrg,
$1,000 st. Paul, $4,000; Texas Pacific, 5000;
Union Pacific 10000; Oregon u Transcontinent-
al, 47,000; Wabash preferred 5000.
STOCK QUOTATIONS..