The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-25
FINANCIAL AND COMMERCIAL
MONEY AND SECURITIES.
Better Prices in New York Despite Efforts to
Depress the Market.

Better Prices in New York Despite Efforts to
Depress the Market.
New YORK, June 24-Money easy at 102
per cent offered at at the close.
Prime mercantile paper, sac per cent.
Sterling exchange weak; sixty days, "a. S13;
sight, 81 s2s
Governments steady.
Railways firm. West Shore fves rose to 40s.
State securities quiet
There was decided change in the temper of
speculation at the Stock Exchange to-day. Re
eeated efforts were made to depress the market,
but there was no lack of supporting orders, and
after each decline higher prices ruled Leading
operators were large buyers. Other causes for
the advance in prices were the reduction in rates
of sterling exchange statements by prominent
bankers that an import movement of gold would
be witnessed in the early future, and favorable
advices concerning crops The fact that none of
The sensational rumors current yesterday proved
true also had much to do with
the increased frmness of the share
list The market opened firm and
prices rose to per cent. for the general list
and per cent. for Northwestern, which sold up
to IS. Shortly afterward Western Union was
freely sold and fell off :, to 50s. Enormous
and there was an impression that the bulk of the
transactions were WASHES The early i'm
provement was lost, but the resistance offered
by Western Union had a strengthening effect on
the list and soon turned the market in the di-
rection of higher prices In the advance which
followed, Lackawanna rose At, to l05 Louisville
& Nashville q, to 3D. Northwestern, q, to S544;
Union Pacific, q, to 35s; St Paul. 2, to 61s, and
the remainder of the list !, to Il per cent
About IL o'clock the failure of Mathew Morgan's
Sons was announced, and a general selling
movement set in. Lackawanna dropped 81, to
1014 Northwestern q. to SO; Missouri Pacific p,
to 33S; St Paul H. to 59ss; Western Union II, to
SOL. and the remainder ofSthe active list to Il
per cent. 1t subsequently ascertained that the
suspended firm not members of the Stock
Exchange, and better feeling prevailed and prices
advanced to II per cent. At intervals during
the afternoon unsuccessful attempts were made
to break Western Union. This led to several
reactions. The transactions IN Western Union
aggregated 1852 shares, unusually large
total Late in the day the market was active
and buoyant and many stocks sold
at the highest point. The market
closed strong Cash stock was worth
sal per cent more than regular and leading
shares commanded a premium for use. Com
pared with last night, closing prices are 3 per
cent higher for Northwestern, Il for preferred,
% for Quincy % for Rock Island, A. for Laeka-
wanna, 81 for Delaware & Hudson, q for Hi
Central, Il for Missouri Pacific preferred, Il for
Pacific Mail, II for Union Pacific, and Il for
Western Union.
A director of the Louisville & Nashville rail
road says: I'VE have had very harmonious
meeting and good progress was made towards
relieving the company of its financial troubles"
Transactions, 436, 600 shares. to-wit Central
Pacific 5000; Lackawanna $4,000; Erie, 5000;
Lake Shore, $4,000; Louisville & Nashville,
10000; Missouri Pacific, 1900; Northwestern,
10000; New York, Central, 13, 600; st. Paul,
10000; Union Pacific 81 000 Western Union
$4,000; Northern Pacific, 1900.