The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-23
AND COMMERCIAL
MONEY AND SECURITIES.

The New York Market Opens Feversh, but
Closes Quiet and Firm.
New YORK, May 22-Money easy at 03 per
cent.
Prime mercantile paper, 4a5 IL per cent,
Sterling exchange weak; sixty-days, s. SO H.
sight, $4.S7 l-S.
Governments lower
Railway securities weaker West Shore fves
fell OF 70 46 IA; Texas incomes to 40 rs and
Texas Rio Grande to &C..
State securities were dull
Share speculation was feverish and depressed
to-day. The weak spots in the market were the
ecalers, Union and Central Pacifcs- The coal
shares were affected by reports that the EN-
ployes of Reading had refused to accept scrip for
wages, and would strike if the company insisted
on forcing it on them. A report that mining
would be stopped for two weeks in June was
also used against the shares. New York Cen
trial broke from &C to So, Reading from 30 SO to
% IA Lackawanna from lee to l03 SO, and
Delaware G. Hudson from 100 IL to 81. Union
Prcific dropped from 40 l-2 at the close of yes
terday, to IS Ia on a report that Charles
Francis Adams in an interview in
Chicago, had stated that the company had
not earned its dividend for the current quarter,
and that none would be paid. The bears sold
the stock heavily on these reports. Late in the
day the following was received at the Union Pa
cite office in this city: The reports are made
cut of whole cloth aud are without foundation.
You can safely make such denial as you deem
expedient of everything alleged to emanate
from u.s." This telegram was signed by f. L.
Ames.
Central Pacific dropped from 40 3-8 to 80 "a,
IN sympathy Pacific Mail was another weak
spot ane after an early advance to 80 sold down
70 50. The stock broke OH rumor that the
Frye shipping bill had been tabled. The fact is
that the bill is in the hands of conference com
mittee. The officials state that there is nothing
in the condition of the company to warrant to-
days decline, its business being larger than at
any time for years past
The general list was well supported during the
first hour of business, and few shares showed
an advance of l-s to "a per cent, but the subse-
auent attacks on the coalers, and Pacific stocks
weakened the whole market. Ia the last fifteen
minutes of business a moderate buying move
snent set in and prices rallied IA to IA per
cent, Western Union Central Pacific, North
west, Reading and Jersey Central being most
prominent Louisville aid Nashville was strong
throughout the day, and rose 81 per cent, to
81 7-8 The market left off quietly and firm,
notwithstanding the announcement of the fail
ure of E. II. Shaw. Compared with last night,
the closing prices are 1-463 a per cent. lower for
Canadian Pacific, Quincy, st. Paul, Lake Shore,
New York Central, Northern Pacific preferred
Wabash preferred, and Western Union for
Lackawana, l-e for Wabash, Canada Southern,
Northern Poetic and Northwest, IL for Cen
trail Pacific and Omaha. 2 for Omaha preferred,
Q SO for Pacific Mail, 2 81 for Michigan Cen
trail, 5S for Reading and Delaware & Hud-
son, 8 "a for Union Pacific, and for New Jer-
sey Central Louisville & Nashville rs 3-S per
cent higher.
Transactions 482, 600 shares, to-wit: Central
Pacific s, 000 Lackawana 81, 600, Denver & Rio
Grande 5000, Erie 5000, Lake Shore II 0OO
Louisville & Nashville 10000 Missouri Pacific
$4,000, Northwest 1000, New Jersey Central
I00e0 Pacife Mail $4,000, Reading. 10000, St
Paul 81 00O Union Pacific $4,000, Western
Union IS ,006, Northern Pacific II, 0o0 Oregon q
Transeontinental 5000, Wabash Pacific 10000.