The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-09-12
FINANCE AND COMMERCE.
FINANCE.

The New York Money Market-Stock Trans
notwithstanding Prices of Government Sc
neutrality-suspicious. of General Stocks
NEW YORK, Sept 11.-Money is easy at 202l9
per cent.
Prime mercantile paper, 5l906l9 per cent
Produce exports for the week were $6,10 900.
Government bonds were weaker.
State securities were quiet.
Stocks were lower to-day. At the opening
prices declined Il 20 y per cent, but this weak
ness was only temporary, for before the first
call the market was strong with an advancing
tendency The improvement ranged from a to
III per cent, Louisville g. Nashville, Oregon d.
TransconUine entail, Northern Pacific, preferred,
and Western Union leading the rise. Oregon d
Transcontinental rose Il per cent. to 6s, Louis
vile & Nashville lie. to 50, Northern Pacific
preferred 70, to 76le, and Western Union 81.
to SIS. This was followed by a reaction, and
still later by good buying of Southwesterns
which carried these shares up to the best of the
day. Subsequently a weaker tone prevailed,
and the market continued heavy throughout the
afternoon with general decline of q to 314 per
cent. the Vanderbilt's leading; Michigan Central
fell of GA per cent, Canada Southern ga, New
York Central ls, Lake Shore 1l9, Northwest
Ia, st. Paul 2, Lackawauna Ia, Denver liz,
Louisville & Nashville 2, New York Central ls,
Northern Pacific l Il, Northern Pacific preferred
2, Oregon & Transcontinental 2l9, Omaha l q,
Omaha preferred l Il, Texas Pacific 4, Union
Pacific 2ls Wabash 1la, and preferred O. The
weakness was occasioned chiefly by reports
that the Vanderbilt lines were cut
ting rates, hut prominent railway
officials connected with the trunk
lines stated, after business hours, that the pool
was working in entire harmony. and that in
view of the enormous business now offering the
roads, and the heavy money forfeits put up by
the companies a guarantee of good faith, that
no trouble need be apprehended. Western Union
was strong, and declined less than any other
stock during the afternoon, owing to semiotfi-
oial statements that the company's earnings this
year were at the rate of per cent. per annum,
and that the statement for the current quarter
will show a surplus, after paying the regular
quarterly dividend of q per cent, of about
100000,
1t appears that large shipments of gold we're
recently made from Paris to This city. To-day
100000 francs arrived, and 1t is stated that
fully 100000 francs additional are on their
way here.
The stock market closed Il to 2A per cent.
below last nights final figures. In specalties,
Dubuque Il Sioux City rose 3 per cent, to So,
and Minneapolis & ST. Louis preferred 49, TO
523s.
The Evening Post says: "Stoeks were lower
to-day a result of reported damage to the
corn crop by frost, and though the situation is
partly exaggerated and partly misunderstood, it
has its effect on prices. The situation in the
trunkline pool is also not quite satisfactory,
though there seems To be no ground for expect
ing any open cutting OF rates On the whole,
there is no apparent ground for more than a
temporary decline"
The transactions at the Stock Exchange to-day
aggregated 337 900 shares, follows: Central
Pacific, 5000: Delaware, Lackawanna & West
ern, 10000; Denver & Rio Grande, $4,000: Erie,
10000; Kansas & Texas, 10000; Lake Shore,
$4,000; Louisville & Nashville, % 900; Michigan
Central, 5000; Missouri Pacific, 5000; North
western, 900 New York Central, Z 900; North
Pacific, SO, 900; Reading, 1000; Milwaukee
& S.. Paul, $4,000; Texas Pacific. $4,000; Union
Pacific, 10000 Wabash Pacific, II, 000 Western
Union, 1000; Oregon & TranscontinentaI,
$4,000; Rochester & Pittsburg, 5000
STOCK QUOTATIONS..