The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-09
AND COMMERCIAL
MONEY AND SECURITIES.

The New York Market, After Considerable
Punctuation, Closes at Higher Figures.
New YORK, May S.-Money advanced to per
cent, later was loaned at p and at the close was
offered at 3 per cent.
Prime mercantile paper, 405 IL per cent.
Sterling exchange weak at 4S7 IA for sixty
Aays, and 4S9 IA for sight.
Governments lower.
Railways stronger in sympathy with the rise
in the share list.
State securities dull.
The share market opened weak and depressed
for coal stocks. Reading and New Jersey Cen
trail were especially weak and lower breaking
from SO to SO "a, and the latter from &c SO to
II - Room-traders were conspicuous Sellers
and made strenuous efforts to dislodge the $4,000
shares of Jersey Central held by Reading cireu-
lating all sorts of unfavorable rumors. Changers
and trunk-line shares were also weak Missouri
Pacific, Western Union, Northern Pacific and
Erie were exceptionally strong and in good
demand. After midday it was announced from
Commissioner Fink's Office that the Baltimore &
Ohio road had restored grain rates from st.
Louis eastward to basis of fifteen cents from
Chicago to New York. This caused a marked
change for the better, and the bears made
rush to cover, but found less stock offering
than they had anticipated In their haste to
buy they bid prices up on themselves, and IN
very little time the market was 1 to 4 per
cent. higher, the improvement being quite gen
eral. New Jersey Central rose 4, to 70 1-2
Reading, ? "a, to Sc 1-2 Canada Southern, 5-S,
to Al rs: Central Pacific "a to 46 58: North
west l 1-2, to 10 SO; ST. Paul, to 81 "a;
Backawanna; . 10 to 115; Denver, l IL to Is;
Louisville and Nashville, IA. to as IA; Lake
Shore, ! 3-S, to "a rs; Missouri Pacific,
1853 TO SO 2 Kansas and Texas. ! 3-S to II;
New York Central | 2 To IL. Erie | Ia TO
16 rs; Northern Pacific preferred, IL, to % 5S;
Union Pacific, IS, to 81 Is and Western
Union, Is, to 81 IL. Near o'clock the excite
ment subsidized and there was a reaction of Ia to
/ 12 y cent, the latter in Reading. Subsequent
~, strong buying movement set In. and many
shares .colq up to the highest point Of the day.
Just before the close the bears raided Wabash
preferred down to II ID; Kansas and Texas to
Is "a; Lackawanna to ll3 IS; Northwest, 6, to
ITO is and Reading to 80 Is In final transac
tions, however there was rally of IA to IL q
cent, and the market left off firm
Compared with yesterdays closing, prices
were l-S to IL q cent higher for
Canada Southern, Canadian Pacific, Central
Louisville & Nashville, Lake Shore, Missouri
Pacific Kansas g. Texas New York Central. Erie,
Northern Pacific, Pacific Mail, Oregon IL Trans
continental, Reading, Texas Pacific Western
Union and Union Pacific, and rs to l 5-8 lower
for Northwestern common and preferred, Lacka-
wanna, New Jersey Central, Omaha preferred
and Wabashes.
Transactions $4,000 shares, to-wit: Canada
Southern 10000: Central Pacific, 1000; Lacka-
wanna. $1,000 Erie. 1900; Kansas & Texas,
1000: Lake Shore, $4,000; Louisville & Nash
Vile 900: Missouri Pacific 1000; Northwestern,
% 900: New Jersey Central E,000 New York
Central 5000: Pacific Mail, 5000; Reading. so,
000 ST. Paul. g. 600 Texas Pacific. 5000; Union
Pacific. 6S. Coo Western Union, % 00O Northern
Pacific, $1,000: Oregon g. Transcontinental,
. IL 900.