The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-11-14
New York Money Market.


NEW YORK, Nov 13.-Money is easy at pa
2lo per cent; closed offered at per cent.
Prime mercantile paper, 5le07 per cent
Produce exports for the week amounted to
S7,194,000.
Government bonds were firm.
Railways strong and higher.
State securities were quiet.
Notwithstanding there was some attemD6 to
break prices, the market has been stronger to-
day thar yesterday and the net result of the
days business was an advance of 1e to lie, the
latter on Lackawanna aud Northwestern pre-
ferred, Tue Vanderbilt stocks have been strong
ana M. tEe- though the gains over last nights
prices for the groups are only lraeSlonAi'
Gould stocks have been only modei~teiy active
but we'll sustained. Granger stocks were stf2ng
and all show fra ctional gains. One of the points
of attack by the bears to-day and yesterday
was the Canadian Pacific stock and as part of
this policy the statement is made in the morn
ing papers that the Canadian Pacific Company
by the terms OF its charter "agreed to take and
pay for whatever road the Dominion govern
ment might have already completed" me
Evening Post on this subject SAYS: "Fror1 acare-
full reading of the company's el s~eer and sub
mission of it to the iudgmen. of competent at
tOrney not interested Ia the company, we are
""""i0 W III" SnythlnR 60 give colOr W bhe
stateheuI.. On the contrary, by the terms Of the
charr Ger the Dominion government makes an
outright donation of over 700 miles of completed
road to the company. besides land grants and
money subsidies. In regard to the guarantee of
8 per cent. minimum dividends on the stock we
are informed upon what we believe to be trust
worthy authority, that it is to cover all out
standing stock of the company except such
portion as is deposited in the keeping of the
government, whether the amount go ontStand-
ing is s65,ooo,ooo or $75, 900 90 o ooo oo or
in stock which the company is
authorized by its charter TO issue. This
point. however, will probably be more definite
ly stated by official aunOup cenents before long,
both from the company and the government; II
the Dominion government, backed by British
capital, has taken up the idea that, as political
measure, ii is desirable to have the Trapseonti-
mental railroad entirely on British territory,
there is reason TO expect that the project viii
be carried through, and that the government
will not hesitate about the matter OF a guar
antee."
eminent report will show that, while the local
traffic on the Union Pacific has increased
through tratfic has fallen OFT on account or COM
petition 1t is also said that the earnings for
the past two months have decreased 81 100000
as compared with the previous year.
Near the close speculation weakened under
the realization of the report of the failure in the
wool and hide trade at Chicago. Prices reacted
Il to So per cent. from the highest point. The
sharp rise and great activity in Lackawanna
attributed in some quarters to the
Efforts OF the NanderOllb party 10 resume
control. Louisville & Nashville was nOtlceably
strong the large increase in the earnings of
the road for the first week of the cnrrent month.
The Willard stocks advanced on the decision of
Judge Ineraham denying the application filed
for the mardamus compel the Northern Pa
cif1c company to produce its books. An official
notice has been issued of a meeting of stock
holders on the 20th inst. TO vote on the proposed
Issue of 900, 600, 900 in second mortgage bonds.
The transactions at the Stock Exchange to-day
amounted to $4,000 shares, VIZ: New York
Central, 1000; ST. Paul, $4,000; Texas Pacific,
5000; Union Pacific, $4,000: Western Union, s.
900; Oregon e. TranscontineDtal, 10000; Cana
dian Pacific 5, 900: Northern Pacific, 200; Wa
bash preferred, 1000; New York & New Eng
land, 1000; Canada Southern, II, 900; Delaware,
Iackawanna & Western, 15l, 900; Erie, $4,000;
Kansas & Texas, 1000; Lake Shore, $4,000;
Louisville & Nashville, IL ,000 Michigan Gen.
trail, 5000; Northwestern, 10000.
STOCK QUOTATIONS.