The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-01
FTNANCIALAND COMMERCIAL
MONEY AND STOCKS.
Unusual Activity and firmness in the New
York Market.

York Market.
Unusual Activity in the New York Market.
NEW York, Dec. 31.-Money easy at 2G21e per
cent, closing at 219d3 per cent.
Prime mercantile paper, 8 &c per cent
Sterling S13i; sight 943i.
Governments were strong.
In railways, West Shore rsts broke from 6s to Ga,
and rallied to 6614.
Bonds were raided down.
State securities were quiet
The stock market opened firm, and in the first few
minutes business prices advanced Il to 9 per cent
the latter in Oregon Transeontinental which to
3131. Oregon Navigation sold up 2 per cent, to
92lQ; Northern PACIFIC 70, So; Union Pacific 3d. to
743s and other active shares 1 to 3s per cent. Be
fore the first call, however, Northern Pacific pre-
ferred broke per cent to So Oregon & Transcon-
tinental 25s 29le and the general list u to 15s.
Toward midday steader tone prevailed, but after
o'clock the market became weak and demorahzed.
Union Pacific dropped As points, to 20; Missouri
Pacific gle, to $685. Lake Shore 13s, to 97l2 st.
Paul 2, to DIS: Lackawanna, I, to 1163s; Louis
vile g. Nashville L to "A; Michigan Central 15s, to
SSls New York Central /, to 11los, and Western
Union l. to 1874. The decline was brought about
by rumors that Gould was seriously i'll,
and that the Union Pacific annual report would make
a bad showing; but the decline materially assisted
by the continued liquidation for account of many
firms which will dissolve at the close of the year. The
number of these changes greater to-day than ever
before in the history of the Stock Exchange. The
heavy decline in prices weakened the margins. and
great many small holders were forced to sell which
also had a depressing influence the market. Late
in the afternoon speculation assumed steader tone
and there rally of Il to u per cent. ON Union
Pacific Lake Shore, however, exceptionally
weak and declined from 961s to 949t, dividend
Oregon G. Transcontnental was also weak and reacted
from Bile to 80. The Exchange Place party express
themselves as being very bearish on New York Cen
trail The market closed irregular but IN the main
weak As compared with Saturdays closing prices
1s gig per cent lower except for Oregon Trans
continental, Oregon Navigation and Kansas & Texas
which are 1s to per cent higher.
In specialties Pullman Palace declined ! per cent.
70 115; G., L, st. L. & P. preferred 80, to 50 a
Memphis & Charleston 2, to 80
At the Oregon Transeontinental Office it stated
that the executive committee did not meet to-day.
could not be aseertained when the meeting will take
place.
The transactions at the Stock Exchange to-day ag
sregated AVA, 900 shares follows: Lackawanna
$1,000; Erie, 1000; Kansas & Texas :, 900; Lake
Shore %, 600; Louisville & Nashville, 1900; Mis-
souri, Pacific, 10000; Northwestern, 5000; New
York Central l. 900; Northern Pacific, $4,000; St
Paul 80 600; Union Pacific, 1O5 600; Western Union
10000; Canada Pacific, 5000; Oregon & Transeon
tnental 70. 600 Quincy, 2S, 900.
The Stock Exchange opens for business on Wednes
day at IL A. NJ Tomorrow being legal holiday, the
Exchange and all fduciary institutions will be closed