The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-04-03
FINANCE AND COMMERCE.
FINANCE.
INDIANAPOLIS, April 2.

indianapolis, April 2.
Business with local banks only fairly active
Money market is working easier. After tax
paying time it will probably be easy to place
good paper, though bankers are expecting higher
rates through the summer season than for some
years past.
Eastern exchange is still in demand.
The following, from the Nauon, is a good sum-
mary of the New York money market for the
past week.:
1.-THE past week has been remarkable for the
fluctuations of the money market. The strn-
gency which has been gradually increasing for
some time eliminated about the middle of last
week Rates for mercantile amer had advanced
from TO u per cent. in the previous fortnight
and the rates for call loans on stock colaterals
on the Stock Exchange had gradually advanced
to 14015 per cent per annum, even touch
ing 20 per cent one DAY last week
caused large decrease in the mercantile
demand for foreign exchange, and rates
Tor exchange had deriSed below tne goin:lni.
porting point. The effect or TINS condl'lon OF
things was 20 draw considerable amount Of
gold to this country from London and Paris.
From the 10th to the 2fth there was received in
New York about $3,000,000 of gold, while about
S1,5oO,000 moro is on the way Last week 1t
was also announced THAT che Treasury would be-
gin the prepayment of the Apri interest on the
public debt, amounting tn $1,000, 900, and on
Tuesday, the 27th, 100000 was paid ont of
the Suh-Treasurv in this city on that account.
The combined effect of the arrivals of foreign
gold and the payments of the Treasury was to
and on Tuesday call loans the Stock Exchange
dropped to and per cent. The rates for dis
count of mercantile paper have only been
slightly reduced as vet, hut the prospect now is
that with the PAYMENT of So, 900. 900 April inter
est and $15, 100000 on Nav for called bonds,
and $50, 900, 900 to $40 100000 OF pensions dur
ing he next three or four months, together with
some further imports of foreign specie, the
money markets of this country VIII be plethoric
in May"
The New York Money Market-stock Trans
acknowledging Prices of Government Sc
neutrality-suspicious. of General Stocks.
NEW YORK. April 2-Money 1920 per cent,
closing offered at II per cent.
Prime mercantile paper 607la per cent Ezx X
Government bonds irregular.
Railroad bonds very irregular and without
special feature.
State securities were negecred.
The stock market, which was duh with low
ering tendency till Q o'clock, showed quite de-
cline in the last hour, owing to the manipula-
tions of money. Compared with the prices of
Saturday, the result of today's trading shows a
decline of q to e on the general list per cent.
on Manitoba and 81 on Oregon & Transconli-
mental, Burlington & Quincy 3, Central Pa
cfc 81, on Lacknwanna Sc, Lake Shore 7s, Mis-
souri, Pacific So, New York Central 81 and st.
Paul s..
Tho transactions Mt the Stock Exchange to-
DAY aggregated 10000 shares. to-wit: 5000
Central Pacific, "a 900 Delaware. Lackawanna
& Western. 900 Denver Il Rio Grande, 5000
Northern Pacific. 10000 ST. Panl. 10000
Union Pacific, IL 900 Oregon & Transeonti-
mental, and 1900 Rochester & Pittsburg.
STOCK QUOTATIONS..