The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-04-11
FINANCE AND COMMERCE.
FINANCE.
INpIANApoLIs, April Il

INDIANAPOLIS, April 10.
Business with local hanks was without feature
and fairly active. Rates firm at 7@S per cent
with only slight demand. New York exchange
scarce and high. The accumulation of funds in
the Treasury, the depression of stocks, the over
production Of manufactures and the lateness OF
the season have combined to cause tightness
in money which has affected every trade-center,
particularly New York city, at which point rates
ruled extremely nigh. The West has had no
mere than a slight increase of the usual April
stringency. The high prices of the first OF the
year, while they decreased exports, caused
large interior movement, which has placed
money in the hands of the producers and ship
pers These temporary backsets are not with
out their uses. They check speculation and re-
call the lessons OF the past. At least twice
within the past year the country was within a
step or two of financial crisis. Had it not been
for O conservatism with which the men who do
the real business of the country are imhued the
result might have been different. 1t is true that
some interests, notably iron and whisky, have
suffered severely, yet general business seems in
a healthy state, and, with fair crops, may
hope for prosperous year.
The New York Money Market-Stock Trans
acknowledging Prices of Governments Sc
Observation-Disclosures of General Stocks.
NEW YORK, April 1O.-Money, 9S per cent,
closing offered at per cent.
Prime mercantile paper 5l906 per cent.
Produce exports for the week, 81, 100000
Government bonds were firm.
Railroad bonds were irregular and featureless.
State securities were quiet and firm.
The stock market was not as active this after
noon as yesterday, and prices were not well
maintained. Shortly after 1890 the stock mar
ket became stronger, and there was an advance
of 11401 Sc per cent the entire list, St. Paul,
Louisville & Nashville and Delaware, Laeka-
wanna and Western advancing the most. In the
last hour stocks at first stronger. and in the
first half hour advanced fraction on the most
active In the last half hour there was a slight
reaction of le to q on the general list, but the
market closed strong and q to lie higher than
yesterday on the most active stocks. those that
advanced the most being Laekawanna. Union
Pacific, New Jersey Central ST. Paul, Western
Union, Louisville 81 Nashville and Cen
trail Pacific. all OF which advanced
from q to lie per cent. over last night. The
only stocks lower than last night were those
mentioned at o'clock. In the last hour, Alton
& Terre Haute advanced TO lO2, making per
cent for the day.
The Post says: Business men from Chicago
ana other points further west say Wall street is
the only place in the country where business
has been dull the past few weeks. Yesterday
and to-day, however, begin to show that railroad
stocks feeling the effects of abundant money
and activity in general business"
The transactions at the Stock Exchange to-
day aggregated $4,000 shares, as follows
1900 Central Pacific, 1o1 900 Delaware, Laeka-
wanna & Western, 1900 Denver & Rio
Grande, 10000 Erie, 1000 Kansas g. Texas
$4,000 Lake Shore, 5000 Louisville & Nash
vile, II 900 Missouri Pacific, 5000 Northwest
nrn, 10000 New Jersey Central, 1000 New
York Central. 1900 Northern Pacific, $4,000
Reading, 10000 Milwaukee & ST. Paul, 1000
BIT. Paul & Omaha, 5000 Texas Pacific, $4,000
Union Pacific, 1000 Wabash Pacific, $4,000
Western Union, $4,000 East Tennessee, vir
ginia & Georgia, $4,000 Rochester 81 Pitts
burg, 5000 Oregon q Transcontinenta, and
0,000 Richmond & West Point.
STOCK OT1OT TTONs