The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-09-04

Money in good demand at 3 per cenb GdsIerh
exchange is moderately firm; transactions are
reported from SO cents to 81 discount.
The New York Money Market-Stock Trans
acknowledging Prices of Government Sc
curities-Q Quotations of General Stocks
NEW YORK, Sept. 3.-Money easy at 2a2l2
per cent; closing, offered at per cent.
Prime mercantile paper, 5le06la per cent.
Government bonds were steady.
Railroad bonds were firm.
State securities were in the main steady.
The stock market in the forenoon was stronger
and prices were higher on moderate volume of
business. Between IL and 2 o'clock the market
was stronger, and the advance was nearly con-
tinuous to the extent of a 70 lls per cent, the
latter Oregon & Transcontinental, with other
advances as follows: Wabash preferred, 12 per
cent, to "a; Wabash common, l per cent, to 81;
Jersey Central, per cent, to 824 Louisville ~
Nashville, 81 per cent. to 46 ls Union Pacific, So
per cent, to 90; st. Paul, 90 per cent to 1914;
Missouri Pacific preferred, 7s per cent, to
76le Missouri Pacific common, q per cent,
to 4os4; Lackawanna So per cent, to 122 7s; Erie,
So per cent to 31ss and 1s to L per cent. on the
others. In the last hour prices were generally
lower, as the result of sales to realize profits on
the advance OF the last few days The extreme
decline in the hour ls to 7s per cent, the lat
ter in Missouri Pacific preferred to 7514,
Oregon & Transcontiuental to 654 and Lacka-
wanna TO 1872. In fiuai dealings the general
market was stronger, and there was recovery
OF Is to q per cent, the latter LackawRnna. In
final dealings Oregon improvement sold at 80,
against IS earlier in the day, and Oregon Rail
way and Navigation advanced 3 per cent, to
1909. The result of the days trading was to
leave prices generally higher than at the close on
Saturday, the most important advances being
Oregon ~ lFauSOODtlueuEaI
/ ID each, Northwestern g. Northwestern prefer
red Q Erie 81 Missouri Pacific g. Canada South
ern 81, 81. Paul 81, Wabash common l, Omaha b,
Louisville g. Nashville l, Lake Shore 81 In
specialties Alton 81 Terre Haure preferred rose
Dig per cent. to 81; Oregon Improvement 3, to
50; Chicago st. Louis & Pittsburg g. to 4 p; e.,
c., c. d !. 1l9, to 63la; Chesapeake O. Ohio |, to
16; East Tennessee preferred l, to II; Memphis &
Charleston 2, to Al; Minneapolis g. ST. Louis pre-.
ferred Dig. to 49l2; OHIO & Mississippi l, to 29A;
st. Louis & San Francisco preferred Gag, to AZ.
Adviees from the West of the continuance of
weather favorable to the maturing OF the corn
crop has led many operators to change their po-
sitioDs in the market, more especially as the
movement of other 5readstufs has already
weakened the foreign exchanges ana strength
ened the belief of conservative bankers in the
influx of at least S20,0o0,o00 to $25,O00,000
gold during the current fiscal year. The
advance to-day was partly the result
of buying to cover shorts, but partly also for
long accounts. Room-traders have been buyers
all day. The market closed strong.
The Evening Post says: 1.-THE attention of
many persons is now fixed upon the corn crop
pect for Improvement, not only in prices of
stocks, but in business generally. The fact that
the corn crop is of almost as great money value
as all other grain crops put together may he an
derstood by comparing crop of say 100000
600 bnshels of corn at 10 cents per bnshe in the
farmers hands, amounting to $3.50, 600, 900,
WITH say 100000, 900 bushels of wheat at an
average price of, say 60 cents to the farmer,
amounting to $500, 0OO, 900 All other grain crops
would be worth only about the difference be-
tween the values of corn and wheat. The great
bnlk Of the corn crop for this year is now Sc
cured, and there is now scarcely anything that
could occur to make the corn crop below the av-
erage. In the West many persons are already
basing their business opinions on the expecta
zion of very large crop, and this has probably
also induced the buying OF some stocks.
The transactions at the Stock Exchange to-
day aggregated 322, 600 shares, follows
Central Pacific 1000, Delaware, Lackawanna q
Western $4,000, Denver & Rio Grande 5000
Erie $4,000, Lake Shore 10000 Louisville &
Nashvillel 8 900. Missouri Pacific 5000, North
western 1000, New Jersey Central 5000. New
York Central 5000, Northern Pacific 5000
Northern Pacific preferred $4,000 Reading
5000, Milwaukee & ST.. Paul $4,000, Texas Pa
chic 10000, Union Pacific 10000 Western Union
IL, 900, Oregon & TranscOntinental go, 900, Wa
bash preferred 5000.