The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-30
FINANCIALAND COMMERCIAL
MONEY AND SECURITIES.

A. Change for the Better in New York
Stocks Firm and Higher.
NEW YORK, June 2S-Money easy at Il per
cent, closing offered at ? per cent
Prime mercantile paper, sac per cent.
Sterling exchange is weak; sixty day bankers
bills 81. sla and demand 81. SO,
Government bonds were steady.
Railway bonds were 105 per cent higher this
afternoon, with better feeling all around.
State securities were quiet Tennessee new
and mixed rose to 37a compromise to Al and old
to SO.
Stocks opened firm and higher and in the first
fifteen minutes of business there was an advance
in prices of 4015 per cent. At the first call
Union Pacific developed weakness and fell off,
under large sales to 2sss, and Central Pacific
broke 2, to 81, but the other active shares de-
clned only 30s per cent. About IL o'clock
there was a complete change for the better and
all the leading stocks were in brisk demand for
bull account and to cover short con
tracts Chief among the causes which
contributed to the Improvement were
the announcement from Liverpool that
$780, 600 of American gold had been shipped
from thatport to New York; that Vanderbilt had
been large buyer of some of his stocks notably
Lake Shore; the official announcement that the
Union Pacific Company would, usual pay its
July interest, and favorable bank statement,
which showed an increase in the surplus reserve
Of So, 107, $50, bringing the total surplus up to
$13 49, 625, notwithstanding funds were loaned
more freely during the past week. Some of the
active room traders turned from bear to bull,
and this was not without its influence on prices.
The improvement in prices ranged from 105s
per cent Lake Shore rose 81, to TAI; New Jersey
Centrul 81 to go; Delaware, Laekawanna &
Western A. to 1lls; Western Union a, to 81;
Northwestern 81. to So; Union Pacific 81, to
32g; Milwaukee & St. Paul 81, to 634; do pre-
ferred 81, to 1Ol4; Central Pacific g, to 344;
New York Central 81 to $751; Northern Pacific
preferred 3d. to Al: Louisville & Nashville
%, to 24ss; Missouri Pacific q to 81; Kansas &
Texas, %, to II; Pacific Mail q, to Al J. and
Texas Pacific %. to s. The market closed at or
near the highest point of the day. Compared
with last night, the closing prices show that Mil
waukee & St Paul preferred is. 81 per cent.
higher, Lake Shore 81, Delaware Laekawanna &
Western and Northwestern Al, Northwestern
preferred AZ, Milwaukee & St. Paul 81, Western
Union 81, Wabash preferred 81, Illinois Central
q, Chicago, Burlington & Quincy %, Kansas &
Texas, Reading and Louisville & Nashville 2
New York Central 81, Omaha p, and the re
mainder of the list hal per cent. Alton &
30; Manhattan Elevated ., to SO, Nashville
& Chattanooga 2, to 35; Minnesota &
st. Louis 81, to u; preferred Al. to %; Erie
preferred Z, to 81 Oregon Navigation 81, to 689;
fullnan alace (, 10 30, ana MANITOBA ., TO 90
The following were the loaning rates. Michigan
Central 1-l608 per cent. Laekawana !, New
York Central !, Chicago, Burlington & Quincy
1-l6, New Jersey Central Northern Pacific pre-
ferred, and Central Pacific 1872. Lake Shore J.
Reading and Union Pacific 164. Milwaukee & ST.
Paul fat 1-64, Oregon Navigation Northwest
ern. Western Union and Louisville & Nashville
fat. Sales for the week 9 5S4, 985 shares an in
crease of Gil, 1914 compared with last week.
Transactions, Ala, 900 shares, to-wit: IL 600
Central Pacific 25, 600 Delaware Laekawanna g.
Western: 5000 Erie: $4,000 Lake Shore; Il 600
Missouri Pacific; 26 900 Northwestern; 10, 600
New York Central 1000 Pacific Mail; 81, 900
Milwaukee & St Paul; 1000 Texas Pacific 70,
900 Union Pacifc AZ. 600 Western Union; 20, 900
Northern Pacific, and 5000 Oregon & Trapscon-
tnental