The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-05-14

week a gam OF 20 per cent.
The New York Money Market-stock Trans
misunderstanding Prices of Government Sc
neutrality-suspicious. of General Stocks.
New YORK, May 12.-Money 2ls04 per cent;
closed offered at per cent.
Prime mercantile paper 5ia06 per cent
Sterling exchange-Sankers' bills are quiet but
steady at 1881 for sixty days and 1864 for de-
mand.
Bar silver 81 09ls
Government bonds were irregular but in the
main is per cent. higher.
Railroad bonds were dull and featureless.
State securities neglected.
The stock market showed decided manifesto
tions OF manipulation by professional speculat-
0rs this forenoon. 1t opened generally frac-
ton lower than the closing prices last night and
continued steady np TO about IL O'Clock. Dur
Ing the hour there were a good many purchases
of broken lots Of stocks below 100 shares) at
prices fraction above the general market. This
is generally regarded as an indication of buying
by small outside spectators, and reflects an i'm
proyement in the confidence of outsiders. But
ab0nt I o'clock there was increase of selling
orders for larger amounts, which seemed to be
"a concerted atiack, Under which there a
sharp break OF la01i2 per cent. on the general
list within an hour. After the announcement of
the bank statement. which is unusually favOra-
bic, the market became steady and small frac-
ton of the decline was recovered by 1880
O'Clock. After 1890 The stock market was weak
and declined i4O1ls per cent, the latter
louisville & Nashville, to 437s: hut just
before . O'Clock there was a partial re-
cOvery of lsO1o per cent. Louisville Il
Nashville So per cent, In the last hour the mar
ket was dull but steady with "A fractional iIl-
prev ement in the stocks that experienced the
greatest depression during The earlier part of
tne day. The market closed weak Mt the lowest
prices of the day for number OF stocks As
compared with Friday night the market closed
about 1401 y per cent. lower. The stocks that
showed the greatest decline to-day were st.
Paul & Omaha, Louisville & Nashville, Della
ware, Lackawanna & Western, and Wabash, all
Of which were over per cent. lower. Opinions
nre greatly at variance to what started the
selling movement at II o'clock to-day, there he
Ing some intima tions OF unloading by one large
operator, though there are no definite facts upon
which to base the opinion.
The Evening Post SAYS: "Tnquiry In regard TO
fhe damaging reports in circulation about the
Louisville & Nashville shows, upon what he
feve to he trustworthy information, that the
company has now in it's treasury an amount of
money and available funds equal TO double the
amount OF it's floating debt: also, that it is not
behind, as reported, in any payments of wages
dHe employees: and, finally, that its net earnings
for ten months, 70 April 80, and for April, were
in excess of it's fixed charges"
The transactions Mt the Stock Exchange to-
day aggregated 343.000 shares, Rs follows:
central Pacific, 10000: Lackawanna, 5000;
Denver. 10000; Erie, 1000; Lake Shore, 81 900;
5000; New Jersey Central $4,000: New York
Central 5000; Northern Pacific. 5000; Read
ing, 5000: Milwaukee & ST. Paul. $4,000; Texas
Pacific, COCO: Union Pacific, 81 900; Wabash
Pacific. IL 900; East Tennessee, Virginia Il Geor-
gia, 5000; Oregon d Transcontinenta, 1900.
STOCK QUOTATIONS..
EXCHANGE GOVERNMENT SECURITIES.