The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-31
FINANCIALAND COMMERCIAL
MONEY AND STOCKS.
More Activity in the Local Market-Rates
Steady at Quotations.

Steady at Quotations.
INDIANAPOLIS, Jan. 30
Bankers report general improvement in the
monetary situation, Applicants for loans are on
the increase, and rates are firm at to per
cent, New York exchange selling at 60c premium
al New York Stocks Strong and Higher
re- New York, Jan. 30.-1loney easy at 1202
a per cent
of Prime mercantile paper, 495 IL per cent.
Sterling exchange steady at So 1-2; sight, 49,
Government bonds firm.
In railway bonds, West Shore fives declined to
So 49, and rallied to 81 IA. 1t was stated that
gen, the company had received all the money it re-
quires for its immediate wants Southwestern
tt issues were strong and higher. Texas Pacific in
who comes advanced to 43 7-s, and Rio Grande to
74374 Northern Pacific frsts quiet at
W9S14
!, State securities were quiet
3 The stock market opened strong and higher
ta7lnkhis morning The demand during the first hour
Housef business brisk and every active stock
ae list recorded higher figures Trading was
]uD very large scale. Round amounts of the lead
on Tug shares notably Lackawanna, Union Pacific
? 1ues lille & Nashville Missouri Pacific, West
49, eies Mail Lake Shore and grang
ers-were taken for long account Tht.sals NJ,
rise caused some selling to realize profits, and
decline of IA to / IA per cent took place. From
midday until 2:30, speculation was irregular, but
firm. Low-prieed Gould shares n the mean
time were strong. and the transactions larger
than for a long time. In the last half hour Wig
erous buying movement set in, and near the close
room traders sold stocks and reaction Of 1-401
per cent. took place. but the final sales were at
fractional recovery The feature OF the market
the steady buying on reactions by brokers
identified with prominent operators. AS com
pared with last nights closing, prices are l-6Q
Is higher for Western Union, Louisville &
Nashville, Missouri Pacific, Canada Southern,
Laekawanna, Denver, Kansas & Texas New
York Central Erie Northern Pacific preferred,
Pacific Mail, Reading, Omahas, Texas Pacific and
Wabash, and l-4@1 II per cent lower for
Canadian Pacific, Central Pacific, Quincy,
Northwestern preferred, St Paul. Lake Shore.
Michigan Central New Jersey Central North
Tant Pss' is a h hRd on at p r"' u.s.
Oregon Improvement, H. at 80; Oregon, 3 at 96;
Pullman Palace, 2. at 115, and Memphis &
Charleston, IL, at 50 IL. ONO d MISSISSIPPI
some bears have applied to the ''bulln syndi-
cate for a private settlement but in all cases
they were referred to the Stock Exchange as
the proper place to cover
Transactions aggregated 454, 600 shares. as fol
lows: Canadian Southern, 5000; Delaware,
I.ackawanna 81 Western, 60, eco; Erie, II. 000
Kansas & Texas, 5000; Lake Shore, IA, 000
louisville & Nashville ,00e; Missouri Pacific,
1900; Northern Pacific 10000; Northwestern,
5000 New York Central 5000; Pacific hail,
$1,000; Reading, 900O St Paul. $4,000; Texas
Pacific $4,000; Union Pacific, 81, coo; Western
Union, 80, coo; Oregon & Transcentinental, 60
600; Canadian Pacific 5000
GOSSIP.
General Eckert informs the Commercial Adver-
tier that the mileage of the Western Union
leased lines exceeds the entire Baltimore & Ohio
system
F. E. Trowbridge says in the Mail and Express
that the Western Union locks upon the purchase
of the National line by the Baltimore & Ohio
Company with favor because the Western I'm
ion not wishing, the line, glad to find it fall
ing into the hands of friends. Trowbridge also
SAYS: mfr Gould has taken hold of Northern
Pacific not only to sustain the market, but also
to control that enterprise and extend his in
fuenee with the Pacific roads"
General Winslow, president of the West Shore
railroad. has replied to Mr.. Vanderbilts animad-
versions thereon. He says: IF this property (the
West Shore) should be subordinated to Wander
bits control the State would lose immense
advantages. This independent channel of com
in his power. he would only have to go
one step further and destroy the independence of
the Erie canal and the merchants Of New York city
and State would he entirely at his mercy. 1t
remains to be whether our citizens will
awake to the magnitude of the present efforts
which are at work against the independence OF
this line of railway before it is too
late. I was of the early promoters of the
West Shore railway, and have had charge of its
construction. and. far | know, person
having any considerable interest in the property
ever contemplated selling this road to Wander
bilt or his company"
OF the bill introduced in the Assembly repeal
ing the second section of the at iegalizng the
sale of stocks bonds time, and substituting
therefor "a section requiring the party contract
ing TO sell transfer the same to be in actual
possession of the certificates or other evidence of
such debt. share, or interest, Mr. Gould thought
some restrictions would be very sautary but
any measures whatever should be carefully cou-
sidered.