The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-09-28
FINANCE AND COMMERCE.
FINANCE.

The New York Money Market-stock Trans
acknowledging Prices of Government Sc
curities-Quotations of General Stocks.
NEW YORK, Sept 27.-MOney was plentyful
at 2021a per cent; closing at 2 per cent
Prime mercantile paper, 607 per cent.
Governments strong for long-date bonds and
weak for threes, Four and-a-halfs sold at ia
and tours, coupon, at 1211e, the highest prices
for a long time past.
Railroad bonds strong; the features were the
advance in Denver consols and Denver & Rio
Grande western irsts.
In State securities Tennessee compromise sold
at 43.
The stock market during the afternoon was,
on the whole, stronger than yesterday after
noon, notwithstanding considerable efforts to
make decline, which were partly successful in
the first three quarters of an hour. the net result
of the most active stocks being an advance of
407s per cent, above the closing prices on
Wednesday night. The greatest activity was
in Northern Pacific, but these did not monop-
olize so large a part Of the dealings as
heretofore, From 1890 TIN o'clock
the market was somewhat feveTish
net result was pretty general advance in the
most active stocks of Lea s per cent, the latter
Northw asterD, to 1876 with hos per cent on
other Stocks In the last hour the market was
higher In the first fifteen minutes 1t was duh,
and prices declined Lea q per cent, but IN the
last three-quarters OF an hour lt was strong,
and there was an advance over o'clock prices
of l407s per cent, the latter Northern Pacfhc
preferred, to 81, with 70 per cent. on Oregon d
TFanscontinental, 10 56l2; 81 per cent on MieIi
gan Central to 83 81 50 per cent. on La Ike Shore to
1854; 81 per cent. Louisville & Nashville, to
sos; s. per cent. on Denver d Rio Grande, TO
2Sla; 81 per cent on LacRawanna, to 1884; also
on Central Pacific, to So; 1s per cent. on Reading
to 5Ss and Il % IS per cent. on other stocks, the
latter Western Union. These changes left the
market 402 per cent. higher than on Wednes
day night. The upward movement in prices is
mainly attributed to the announcement that the
railroad managers of roads west of the Missouri
river had pool which includes the Northern
Pacific, and by reports that powerful combina-
b1on has been formed by certain up rators to
protect Northern Pacific, Western Union and
other leading stocks, and to force the shorts to
cover.
Richmond & Danvlle was exceptionally weak
in the last hour, aud declined q per cent, to
57l0 making pig per cent for the day. The Rich
mond & Danville directors will declare dividend
to debenture bOndholders on Oct. l. The net
earnings of the road for the year, to Sept 80,
were approximately S1,29S,734; fixed charges,
S1,219, l6S, leaving S7S,S66.
President Newell, of the Lake Shore, says the
road has fully and honestly earned its quarterly
dividend of per cent, and can see no reason
why it will not continue to do so.
The transactions at the Stock Exchange today
aggregated $4,000 shares, as follows: Central
Pacific, 6 900; Delaware Lackawanna & Western,
$4,000; Denver & Rio Grande, %, 900; Erie, TO-
1000; Northwestern, 5000; New Jersey Cen
trial. 5000: New York Central, $4,000; Northern
Pacific, 19.000 Reading, 1900; Milwaukee &
st. Fau, $4,000; Union Pacific 1900; Western
Union. IS 900: Oregon & TranscOntin entail, So =
O00 Canada Pacific, 5000.