The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-05
FINANCE AND COMMERCE
FINANCE.

The New York Money Market-Stoek Trans
misunderstanding Prices of Government Sc
curities-o Quotations of General Stocks.
NEW YORK, Oct. 4.-Money easy at Pos per
cent, closed at 2 per cent.
Prime mercantile paper, 607 per cent.
Government bonds fraction better at second
call, but at last board four-and-a-halfs lost the
Improvement.
State securities dull.
Railway securities lower.
The stock market opened a fraction lower, and
then advanced q to So per cent, the latter
Oregon & Transcontinental Before 1890 A. NJ.
the improvement was lost, and the bears had
the market once more under control. Round
amounts of Wizards were Offering, causing a
break of 81 TO 2l4 per cent. in these specialties
Northern Pacifc dropped from 81 ls to 30s4, pre-
ferred from 60 to 57a4, and Oregon e. TranscOn-
tinental from 495s to 4719. The remainder OF
the active list sympathized hut slightly with
these shares, declining only Il to 81 per cent,
except for Omaha preferred. which broke 81, to
och. Near IL A. NJ, Lackawanna received strong
support fully 10000 shares being taken in the
neighborhood of I20012O5e This had the ef
feet of stemming the downward movement
and caused rally of 4 to 1l9 per cent,
in which Oregon g. Transcontinental was
most conspicuous, selling up to 49, Northern
Pacific recovered to 31ss, preferred to SO, and
other stocks 1e TO y. From this time until
nearly 100 t. M. the market quiet and
almost dull. About the time mentioned a 20
port circulated that the leaders were in con-
ference to devise means to end the bear raids.
simultaneously with this announcement the
6harpesG drive of the day was made some
shares, particularly on Manitoba, Oregon Navi-
CATION and Northwest. The former broke
points, to los 81; Oregon Navigation pig, to 1872,
and Northwest L So, TO 1904. The shares not at.
lacked " the heara yielded but iittle-about Il
to l. Toward the close much better feeling pre-
vailed, and the bears showed some disposition
to take profits. Under this process an advance
of q to ga was established. with great activity
on the way no. The underlying cause of the
sharp recovery was the reported conference of
Gould and Willard already allnded TO. 1t was
and two or more prominent banking
houses had agreed to take GER
tain amount Of bonds, to be issued
by the Northern Pacific company, The proceeds
of which will be used in taking up the floating
debt and in providing the company with means
to thoroughly equip its lines. 1t was also re-
for European account Still another runor cur
rent was TO the effect that Gould and Sage
rectUry. While these rumors could not be OIL
cially confirmed, there is apparently good
ground for believing that the deal In Northern
Pacific has been made, and that the purchases
made by leading operators to-day were predi-
Gated upon the deal in question.
In late transactions, Northern Pacific rose to
20lo nreferred To al 10 Oregon a. Transconti-
mental to 49l9, Northwestern to 1914, st. Paul
80 10l l.. Louisville & Nashville to 49Ss, Lake
y
Central to 81, Manitoba to 10S, Union Pacific to
374, and Western Union TO 80. AS compared
with last nights closing. some shares show an
advance of Ii to 7s, the latter in Lackawanna,
while others are a to So lower, except
for Oregon Navigation, which is down 3le, at
100. Western Union, Texas Pacific, Wabash
preferred, Omaha, Oregon & TranscontinenJal,
Chicago. Burlington & Quincy and Canada
Southern unchanged. In the specialJies Pull
man Palace broke points, to 124, and rallied to
125; Alton & Terre Haute declined g to 48; pre-
ferred !, to so East Tennessee preferred l, / o
IA, and New YORK, Chicago Il st. Louis preferred
81, to II. A feature of the day was the trading
IN sellers options. Oregon Navigation sold at
12lD117L2 and Manitoba at 106A a 10614, sell
er sixty, aud Pullman Palace at 1875, seller
thirty, all at az per cent below the market.
The transactions at the Stock Exchange to-day
aggregated 500, 900 shares. as follows: Central
Pacific, 5000; Delaware, Lackawanna & West
ern, 47,OO0; Denver & Rio Grande, 6,00o: Erie.
10000; Kansas & Texas, 6,000:Lake Shore, 49,
900; Louisville & Nashville, $4,000: Michigan
Central, 5000; Missouri Pacific. 5000; North
western, 25,00O; New York Central, 1000.
Northern Pacific, $4,000; Reading, 11,000 St.
Paul 10000; Texas Pacific, 5000 Union Pacific
$4,000; Western Union, 5000: Oregon d Trans
continental, 50, 900; Northern Pacific preferred,
SO, 900; Oregon Navigation 1000; St. Paul.
minneapolis & Manitoba, 1000; Delaware, Lack
awanna Western, 5000.
STOCK QUOTATIONS..