The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-03
FINANCE AND COMMERCE.
FINANCE.

INDIANAPOLIS, Oct. 2.
The local money market presents no new feat
ures, and yesterday was a quiet day. Rates I'M
changed at a per cent. Eastern exchange in
demand at a premium. Very little was offered,
and bankers were free shippers of currency.
The New York Money Market-Stock Trans
acknowledging Prices of Government Sc
NEUTRALITY-SUSPICIOUS. of General Stocks.
NEW YORK. Oct. 2.-Money easy at 21203 per
cent, closed at 2 per cent.
Prime mercantile paper, 607 per cent.
Produce exports for the week, S6,S26,o00.
Government bonds strong.
Railway securities about steady. West Shore
frsts weaker, at 74es0747s.
State bonds inactive.
Another duh day in stock circles. At the
opening the market was firm and higher, with a
general advance in prices OF a a l1s per cent, the
latter Western Union, on a favorable decision OF
the Court of Appeals legalizing the S15 ,526, $50
stock issued at the time of the consolidation of
the American Union and the Atlantic and Pacific
Telegraph Company with the Western Union in
1881. After IL o'clock the market was quiet
and barely steady, and continued until after
noon, when a sharp attack was made on c., c..
c. & l., carrying the stock down from Gle to So.
This was followed by attacks on the Changers
anu IIthaNAuud OMlDE 10 lHC dDStuCc VI sup
porting orders the raids were generally success
full, prices being forced down Il to 2 per cent,
Northwestern preferred suffering the
@ eoSery at Fhe the e Ess but the hs'i0 market TS
left off weak. As compared with last nights
close. prices are down Il az per cent, except for
Wabash and Chicago, Burlington & Quincy,
which are a fraction higher. In the specials
Altou & Terre Haute broke 4A9. to so, Milwau-
kee; Lake Shore & Western preferred 2, TO Al;
OHIO Central lie, to 24; and st. LOuls Il San
Francisco preferred l. to AT, Chicago, st. Louis
& Pittsburg preferred rose /, to At; Mutual
Union lIa. to 10: and Homestake mining q, to
17ls. The depression in Northwestern was Oc-
casi0ned by rumOrs that the company had been
selling treasury stock. These rumors had been
used before, bat not with as much effect as to-
day. 1t can be authoritattvely stated tnat the
stories are without foundation. In fact, the
Evening Post says: "As the bears were evidently
afraid 70 sell any of the prominent stocks,
which are known to be supported, the
issue was made by a few parties on Alton
& Terre Haute and c., g., G.. & l., the first Of
which was sold down Az points, and the latter
ga. Whether there is any reason in the Imam
cial affairs of the road for a decline or not, 1t is
believed the depression to-day was artificial,
the general situation in railroad affairs,
averaging earnings Of &c., 900 aud no immediate
prospect of a serious complication in regard to
rates"
over the corn district west and NORTH west of
Chicago, and as far as st. Paul, In the last week.
and gives as the opinion of the best farmers and
merchants that the damage to the corn crop is
largely Overestimated; that il the corn does not
actually freeze before it dries out there will be
an abundant erep, even In the frosted districts;
also, that there Is a very large supply OF oid
corn in the country vet.
The transactions at the Stock Exchange TODAY
aggregated $4,000 shares. as follows: LacSa-
1000: Northern Pacific, 10000;
Northern Pacific preferred, $4,000; st. Paul,
1000. Western Union, $4,000; Oregon d Trans
continental, 10000.
QUOTATIONS.