The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-19
FINANCE AND COMMERCE.
MONEY AND STOCKS.

The "Squeeze' in Jersey Central and Its
Effect Gu the Market.
New YORK, Oct. 1s.-Gevernment bonds are
steady.
In railway bonds, after $50, Chesapeake &
Ohio currency skies advanced to AT; Denver IL
Rie Grande consols to So; New York, West Shore
& Buffalo firsts to "a; Northern Pacific firsts to
1924; Texas & Pacific land grant incomes to
52ls; do. Rio Grande firsts to 724071ss, and
East Tennessee fves to 72l9.
State securities were quiet.
The sensation of the day in stock circles was a
squeeze" in Jersey Central. This stock opened
at 80 regular, rose to SO a, and reacted TO S4S4
0S53s. The cash transactions were at 870S9
0S5 0S6. As high as 405 per cent was paid for
the use of stock until tomorrow, with most
transactions 1928 per cent. Before the close
of the delivery hour there was reaction of
per cent. The clears" practically cornered
themselves. Within the past week the stock
has commanded almost any rate lenders desired
to ask Yesterday the larger owners called
their stock, and the ''bears" were compelled to
go in the open market, with the result already
noted.
strength of Jersey Central had a favorable in
huence on the list and an advance Of 4 to per
cent. took pla CO. the latter in Oregon TranscOn-
tinental, which went up to 37%. The bears"
then offered stocks freely and the Improvement
was not only lost but many shares sold below
yesterdays closing. Near midday the temper
of speculation turned for the better, large
amounts of stock being taken for both ''lOng''
and "snort" accounts. London was also a buyer,
and this resulted in an advance of to 5 per
cent, the latter for Oregon Navigation, which
sold up to 1O7; North Pacific rose 23s; Pre-
ferred Al, to 62l4 Oregon Improvement 4, to 20;
Lake Shore 3, to 5s; st. Paul pig, to 90; Quincy
21s, TO 1928; Louisville Nashville 2l4, to Ala;
Northwest gig, to 11S: Missouri Pacific 2ls, to
92$; Omaha 2 4, to 324; Preferred 21s, to Gale;
if1saO En- 2 io.P T.. .aalr-
awanna 2. to l14l4; Western Union lie, to 775s;
Kansas & Texas 1Se, to 22ls; Texas Pacific g,
to 211s; New York Central 15s, to LA; Union
Pacific %, to 87l9; Wabash preferred ia. 81;
Denver 1l2, to 25ss; Canada Pacific 1l9, to 80;
Michigan central So, to 70; Wabash is, to 10;
Manitoba Il, to 1904; Canada Southern 4, TO
40, and Erie l, to 2S&. There were reactions
Mt intervals of 1e0ls 50 per cent, but the market
finally left off strong at near the highest figures
of the day.
The success of the movement in New Jersey
Central, it is reported, has induced some of the
large holders OF other stocks to combine for a
similar purpose and belief obtains that some
stocks will shortly be singled out and moved up
sharply to force the "bears" to cover. Some of
the "bears" have employed Vanderbilt and
Gould brokers to sell stocks with a view of ere
ating impression that those operators were
unloading. This fact was brought to light this
afternoon, and IL had it's influence in stimulating
q rally near the close.
1t is reported that additional 100000,
gold has been shipped from the other side. As
compared with last nights close, prices were L
to per cent. higher, the latter Oregon Eaviga-
tlen. Manitoba, however, Is a lower, or 105s
Northern preferred lent at 81 per cent, and
Reading, New York Central Northern Pacific
common and Union Pacific at 1854, for use.
The transactions at the Stock Exchange to-day
aggregated $50, 900 shares. as follows: Central
Pacific. 5000; Delaware, Lackawanna & West
ern, $4,000 Denver 5000; Erie II, 000 Kansas
d Texas, 5000: Lake Shore, 10000; Louisville
Il Nashville, 1900: Michigan Central, 1000;
Missouri Pacific. $4,000: Northwestern, $4,000;
New jersey Central, 10000 New York Central,
$1,000; Northern Pacific, 1900; Northern Pa
eific preferred, II 000 Reading, 2 600; st. Paul.
$1,000; Texas Pacific, 5000; Union Pacific, A.,
900; Oregon d. Transcontinental, SO, 900: Man
itoba, 5000; Canadian Pacific, 5000; Western
Union, $4,000; New Jersey Central (cash),
5000.
STOCK QUOTATIONS.