The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-24
The New York Money Market.


NEW YORK, Oct. 23.-Money is quoted at olga
8 per cent, closing offered at 8 per cent.
Prime mercantile paper, a per cent.
Produce exports for the week, ST. 900.
Government bonds were firm.
Railway bonds stronger ana State securities
quiet.
In the stock market for the day the advance
over last nights prices ranged from . to2+, the
latter on Oregon q TranscOntinental Burllng'
ton & Quincy advanced pa, Canadian Pacific 2,
Central Pacific 2, Illinois Central Dig, Lake
Shore 25s, Missouri Pacific ia, Jersey Central
gig, Northwestern 23s, st. Paul 2, Manitoba 2,
Union Pacific 2, Northern Pacific 10l7s, Lack
awanna 17s, Canada Southern 11a, Western
Union III, New York Central 1l9, st. Paul &
Omaha preferred 1ss, Michigan Central Sig.
notwithstanding some wavering and hesitancy
about noon to-day the stock market has shown
increasing strength, and also more buying of the
general list than has been apparent for several
weeks. Room traders, of which the
great majority have been on the
''bear" side for over a month,
have to-day been buying more than they have
side. The Vanderbilt stocks have all been
strong, and Michigan Central has been a special
feature, showing an advance of 8 per cent. for
the day. There has been a large increase of
trading in New York Central, Canada Southern,
Texas, and Missouri Pacific, which have hereto
fore been extremely dull. From the opening the
demand was brisk, and late in the day buving was
on an enormous scale. Shares in the final deal
ing were huoyant, and round amounts were
taken at advancing figures. The sharp rise in
Michigan Central was due principally to the
shorts, who, becoming frightened at the scarcity
of stock, sought to cover, and rushed the
price up on themselves. This rise slim
ulated the demand for other Vanderhtlts,
hence the improvement in Lake Shore, New
York Central, and Canada Southern. In the
last fifteen minutes nearly every active stock
sold at the highest point of the day.
III Is reported on EOOQ authority I0aU the
squeeze in Jersey Central and Willard shares is
by no means at an end, and the Oregon & Trans
continental, especially, is likely to be sharply adj
Vanced whenever the shorts attempt 10 cover.
Anong the shorts in stock are supposed to he
prominent operators recently on the bear side,
who have not yet been able to cover up their
lines.
II is also stared that the Chicago, Burlington
& Quincy and ST. Paul, Minnesota & Manitoba,
are in the same position as the Michigan Cen
tral, and that the rise in shares this afternoon
was the forerunner of a sharp twist tomorrow.
Commission houses report more outside buy
ing to-day. London has taken some round
amounts of various stocks.
The transactions at the Stock Exchange to-day
ada Southern, $1,000; Central Pacific, 5000;
ware, Lackawanns d Western, so, 900; Erie,
12,0 900; Kansas & Texas, 1000; Lake Shore, 23,-
600; Louisville & Nashville, $4,000; Michigan
Central, Al 1000: Missouri Pacific, 5000; North
western, 1000; New York Central, 10000;
Northern Pacific, $4,000; Reading, 1000; Mil.
waukee & st. Paul, $4,000; Union Pacific, 22,-
600; Western Union. $4,000; Oregon D. Trans-
continental, $4,000; Canadian Pacific, 10000.
STOCK QUOTATIONS.
EXCHANGE AND GOVERNMENT SECURITIES.