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


Banking business is reported very quiet
Money in good demand at per cent, with an
occasional transaction at per cent.
Eastern exchange is weaker, aud changed
hands at from 25o to soc premium.
The New York Money Mari,et-Stocll Trans
misunderstanding Prices of Government Sc
curities-o Quotations of General Stocks.
NEW YORK, Oct 9-Money easier at20219per
cent. Closed offered at 1.
Prime mercantile paper, 607 per cent.
Governments strong and higher, except for
4hrees, which are lower at 1o0ls.
Railways active for West Shore frsts, and
lower for Texas Pacific issues.
State securities quiet. Arkansas sewers, Fort
Worth issue, frmer at % bid
The day opened with strong market for
stocks, and general though not marked ad
vance in prices was recorded, the features hav-
ing been Union Pacific Northern Pacific, Oregon
e. Transcontinental, Lake Shore and St. Paul. In
a comparatively short time, however. there was
a change IN the temper of tho speculation. ow-
ing to renewed attacks upon Willard stocks,
which yielded 7s@17s per cent, and on Gould
stocks, which broke 1le025s per cent
Missouri Pacific, Texas Pacific and Kan
sas and Texas sold at the low
est poin6 fer long time. From 1880
til the market continued weak, and some
stocks rather firrn M to noon were weak. nota-
bly, Louisville g. Nashville, Erie, Lake shore &
Northwestern, while on the other hand some
stocks depressed ii the forenoon were compar-
atively firm after l. In the last hour the market
was stronger, and there was general advance
of 70 to 81 the latter on Central Pacific. TO 6619
also Louisville & Nashville II, to 4S3s; Union
Pacific Il, to 97ss; Texas & Pacific Ia, to 23sa;
Kansas g. Texas l ls. to %; oregon q Transcon-
nen T e. to 81 q 20 he TO Pac
preferred 49, to 64ll; St. Paul 81, to 997e: Lake
Shore 7s, TO 80 81; Lackawanpa 81. to l1734 Mis-
souri, Pacific 81. TO 95l2, with Il to q on other
stocks. The changes of the last hour, however
left the market generally la to 1S4 lower than
last night. the latter Texas Pacific with L 50 to
Kansas & Texas, lie on Oregon & TranscOnin-
mental. and fraction on other stocks. Several
stocks, however, closed fraction higher than
last night. viz: Chicago, Burlington Quincy,
Central Pacific, Delaware, Lackawana d west
ern, Lake Shore, New York Central, New Jersey
Central, Reading, Chicago, Milwaukee g. St.
In the forenoon Western Union was favorably
affected by rumOrs of probable falling through
of the much-talked-of new cable company. 1t
is stated that the company has been unable to
procure the necessary funds to carry on the
work Wizards were strong on buying by inside
parties feature of the day was the
Strength exhibited by Union Pacific
stock which was well held, and did not partici-
pate in the weakness to any marked extent.
When the market turned in the afternoon, the
stock moved up easily to 1878, which is per
cent. above last nights closing. shares brought
erns due to reported damage to cotton and
tobacco, the bears on the stocks talking of IA
cotton crop of 100000 bales this year.
Another reason given for the decline in Gould
shares is that large block of Texas Pacific was
ordered sold on Tuesday, and the bears took adj
vantage of the order to hammer the shares.
The Evening Post says: "There were sales to-day
of over 1000 shares of jersey Central and North
ern Pacific preferred seller sixty days, at prices
! "a to 2 per cent below the regular market. The
fluctuations of prices from day to day are now
entirely the effects of raids OF the bears. There
are only few stocks that seem TO be sustained
by supporting orders, aud all Others are de
pressed with comparative ease when attacked,
but they also seem TO react with significant
promptitude that keeps the bears uneasy. There
is a very large short interest out and being
increased daily. 1t was remarked that the loan
crowd was larger this forenoon than before for
several months"
The transactions at the Stock Exchange to-day
aggregated $4,000 shares, as follows: Della
ware, Lackawanna & Western 100000 Denver
& Rio Grande, 10000; Erie 10000: Kansas &
Texas 10000; Lake Shore, 5000; Louisville &
Nashville, 29, 600; Michigan Central, 5000; Mis-
souri, Pacific, 6,U00 Northwestern, IL, 900; New
Jersey Central. 5,000 Northern Pacific. $4,000;
Northern Pacific preferred, $4,000; Reading,
5000 st. Paul $4,000 Texas Pacific % 900;
Union Pacific, $4,000; Western Union, 5000;
Oregon d Transcontinental, $4,000; Wabash pre-
ferred, 1900.
STOCK QUOTATIONS