The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-05
New York Financial Market.

New York Financial Market.
New YORK, Feb Mooney is easy at l-2G2
per cent
Prime mercantile paper, 405 IL per cent.
Sterling steady sixty days, IS "a; sight, 49,
Government bonds were lower for four-and-a-
halls.
Railways were strong.
State securities were quiet Tennessee com
promise sold at A.
Speculation on the Stock Exchange opened
strong. Prices in the first few sales advanced
1912 per cent. for the general list, and 1 IL
for Northwest preferred, which rose to TAT IL.
Before the first call there was slight reaction,
but a recovery soon setin, and the upward move
ment made rapid progress under the demand to
cover short contracts and purchases for long"
account, large orders having been received by
commission brokers from eut-of-tewn customers.
Late in the afternoon there was reaction of
1-401 IA in the general list, and decline
of and IL in Oregon 6 Transconti-
mental and Oregon Navigation respectively.
Leading bear operators were free sellers
during the afternoon, and the ''slrort" interest
was materially increased The reaction brought
in buyers who had been holding off for some
days in consequence of the sharp rise in prices.
The heavy increase in earnings reported by
granger and other roads for the fourth week and
the month of January, had a favorable influence
on the market and assisted the advance early in
the day. AS compared with Saturday nights
close, prices are 1891 3-S per cent. higher for
Canada Southern, Northwest Rock Island, Den
yer, Louisville & Nashville, Reading, Manitoba,
Omaha, Union Pacific, and Western Union, and
1-801 3-S lower for Oregon & Transcontinental
Central Pacific, Northern Pacific Pacific Mail,
Texas Pacific, and Wabashes Oregon
navigation is 1 IL per cent lower,
at 80 10, and American cable declined
], to So It is stated that the Forthcoming annual
report of the Burlington & Quincy will show an
increase in net earnings by about 81, 700, 600.
The earnings of the Northwestern and st. Paul
for the fourth week in January each show an in
crease oyeg tiIu corresponding Week ,,sr wear
the former by $72 800 and Tie latter by $74, 600.
The earnings ef the Northwestern for January
show an increase over January, 1888 of sos, 600,
an increase of over7 per cent. The earnings of
st. Paul for January are also per cent greater
than last year by a sum of $l05, coo. The earn
ings of the Denver & Rio Grande railway for
January, compared with year ago, show an in
crease of SIG, 900.
The Post says: 1--WE learn at the Exchange
that the proposed new mortgage of the Oregon
Railway a Navigation Company has been
postponed account of the legal difficulties
arising from the statute passed by the Oregon
Legislature at its last session, one clause of
which provides that any mortgage conveying
property in more than one county shall be void.
The context shows this law was not intended to
apply to railway mortgages, but no exception
having been made in their favor, counsel to
whom the question was referred declined to ap-
prove the mortgages"
Transactions on the Stock Exchange, to-day,
aggregated $4,000 shares, as follows Canada
Southern. 1O, 900; Central Pacific, 6000 Della
ware, Laekawanna & Western, $1,000; Erie, 10,
600; Kansas & Texas, 13 000 Lake Shore, 80 600;
Louisville & Nashville, 5000; Missouri Pacific,
%, coo Northwestern, 27O00 New York Central,
s. 900; Reading 5S 600; st. Paul, &c. O00 Texas
Pacific. $1,000 Union Pacific, $1,000 Western
Union %, coo; Oregon e Transeontnental, 30, 600;
Northern Pacific, Is. 600; Canadian Pacific, 5000.