The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-26
FINANCIAL AND COMMERCIAL
MONEY AND SECURITIES.
Another Day of Weakness and Depression in
the New York Market

Another Day of Weakness and Depression in
the New York Market
New York, May 24.-Money easy at 1-2
per cent, per annu1n., closing offered at l per
sent. Prime mercantile paper, a 6 per cent.
Sterling exchange is quiet but steady; sixty
day bankers bills, asa and demand 4S5 IA.
Government bonds were steady.
Railway bonds were irregular
State securities were quiet.
The stock market was weak and depressed at
the opening and prices dropped from 1913 81
per cent, with the coal shares, Chicago, Bur
lngton & Quincy Northwestern, Lake Shore,
New York Central, New Jersey Central, Rock
Island, Northern Pacific preferred and Union
Pacific as the features. Before IL a. NJ the
market began to improve. and there was rise
of IL az IL per cent. Missouri Pacific was es-
pecially prominent in this advance, and touched
81 So. The advance was partly based on reports
that Commissioner Fink intended to advance
freight rates. Speculation continued strong I'M
til after the publication of the bank statement
which was unfavorable and brought about
general selling and a decline In the
afternoon the market was irregular, some
shares receiving good support, while others were
depressed and sold at the lowest point of the
week. Prominent among the latter were Lake
Shore, Illinois Central, New York Central and
Northwestern On the other hand Missouri Pa
eifc, Western Union. Union Pacific, Reading.
Oregon & Transeontinental and Pacific Mail
were positively strong. The market closed IL
regular Compared with last night the closing
prices are "a per cent lower for Northwest
srn' fordq preferred ! IA for milwaukee, &
Paul preferred Ala for Rock Island "A for
Delaware Laekawanna & Western, "a for Il
Iuols ,c1.n,tlal, IA for Lake Shore for Mich
iean Genital. anu i - for New York Central
and Northern Pacific preferrraa;; while Western
Union is ID per cent higher Northern Pacific
II, Reading. l. and Missouri, Pacific IA per
cent. The other changes IN the active list are
less than l per cent. either way. American
Gable declined ] per cent, to 40; Chicago q Al
ton A. to I26 Lake Erie Il Western l "a, to Q;
Oregon Improvement 6, to -; St. Louis & San
Francisco preferred l. to 81 | 3 American Express
/. to SO; Adams Express 2 IA, to l2S, and South
Carolina l. to 10. Pullman Palace-car broke "a
to 80, rallied to 81. ard closed at 81. st. Paul,
Minpeap5ii.s q manitoba dropped to So and rose
70 o. The leading shares commanded premium
for use which ranged from 1-64 ia l per cent per
diem and was paid for Chicago, Burlington &
Quincy, Reading. Lake Shore, New Jersey Cen
Sral, New York Central, Missouri Pacific,
Western Union, Northern Pacific preferred,
Milwaukee & st. Paul, and Delaware, LScKa-
wanna & Western. Erie new secor.Q consols
loaned as high as II per cent for~ use.
Exports Of specie for the Week, $1s6, 697, max
5ng for the year thus Far s4l, 993, 752, against
So, 121,s $40 for the same time in 1883.
Sales Of stocks for the week, 2,454, 7eS shares,
Transactions 10000 shares, to-wit: 5000
Central Pacific: 5000 Delaware, Lackawanna &
Western; 5000 Erie; $4,000 Lake Shore; 6O0O
Louisville & Nashville $1,000 Missouri Pacific
"a, 600 Northwestern; 1000 New jersey Central
1I,090 New York Central; 1000 Philadelphia g.
Reading; A., 900 Milwaukee & st. Paul; $4,000
Union Pacific; 10000 Western Union; 10000
Chicago, Burlington & Quincy; 81, 600 Northern
Pacific, and ), GOO Rock Island.