The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-24
FINANCE AND COMMERCE
FINANCE.

INDIANAPOLIS. Aug. %.
General dullness still prevails in the local
money market.
There are not many applications for loans.
Merchants and manufacturers are restricting
their business as much possible. The move
ment of grain is also light.
Money is in a little better supply at per cent.
Eastern exchange is hrmer. We quote at SOC to
$1.OO discount.
The New York Money Market-Stock Trans
acknowledging Prices of Government Sc
neutrality-suspicious. of General Stocks
NEW YORK, Aug. 23.-Money easy at 2ls03.
Prime mercantile paper, 5069 per cent.
Governments strong.
Railways drmer. Denver consols up to ~.
State securities we're dull.
The stock market during the forenoon was un'
settled, feverish and lower. the decline for the
forenoon and up TO 1890 being from 491l9 per
cent. from last nights closing. In the afternoon
the market was generally strong with an i'm
provement in prices in the last hour and a ma
jOrity OF the stocks made the highest prices of
the day, and also show an advance on yester-
days closing prices. The advance over the
closing yesterday ranges from 1s to q, the lat
ter on Denver.
The Evening Post saysi Several important
facts, as well as rumOrs of others that may be
more definite soon must have an effect cot only
upon the stocks to which they refer, but to the
whole market. The first of these is the an
nOuncement of the completion of the Northern
Pacific Railroad and the fact that a train of cars
loaded with Oregon wheat will at once leave the
Pacific end OF the line for the Atlantic States.
The final completion of a great enterprise be-
gun twenty years ago, Is of itself fact OF great
Importance, but the movement of grain from
Oregon to the Atlantic by the Northern Pacific,
and from Southern California to New 0rle.ns,
indicates a new era not only in railroad bust
ana have been for some time. rumOrs of an
alliance OF some sort between the Vanderbilt
Gould interests in the Southwest. Whatever
foundation there may be for these, 1t is plain it
would be for the general profit of all concerned.
Some recent rumOrs in regard to Denver Il
Rio Graude probably originated in the difficulty
finds in raising funds to paw the September SEMI
annual interest on it's Sc, 81 900 first mortgage
bonds. The Denver e. RIO Grande Western s
leased to the Denver & Rio Grande at q rem tai of
40 per cent of its gross receipts, but If
that is insufficient to pay the interest its
bonds D. q e. @. supplies the deficiency. 1t is
alleged that the Denver & Rio Grande Western
has made a demand to have this deficiency,
whatever that may be, made up to pay the
September interest. 1t seems not improbable
that these features may lead to a transfer of the
control of the Denver to either the Burlington
d Quincy or Union Pacific.
The transact ions at the Stock Exchange to-day
aggregated 80 900 shares, to-wit: Central Pa
cfc 5000, Delaware, Lackawanna d Western
$4,000. Denver Rio Grande $4,000, Erie TO-
900. Kansas & Texas 5000. Lake Shore2 %, 900,
Louisville & Nashville 10000, Northwestern
5000, New Jersey Central l6, 600, New York
Central 5000, Northern Pacific 24,0dO, North
ern Pacific preferred SO 900, Reading a. 900,
cfc 1900, Western Union II 900, Oregon &
Transcontinental 81 900, Canadian Pacific 5000.
STOCK QUOTATIONS.