The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-09-26


Higher, and So Continues During the Day.
NEW York, Sept. 25.-Money easy at Il
per cent
Prime mercantile paper, 81 06a per cent
Sterling exchange firm; sixty days, 1882;
night $4s4aa.
Governments firm.
Railways firm.
State securities steady
At the Stock Exchange, to-day, the market
opened strong and higher, on the announcement
from Chicago that the representatives of West
ern and Southwestern roads had settled their
differences, and on statements that the presi-
dents of the trunk lines had authorised the gem
sral managers and vice-presidents to consider
and agree upon a-plan for the settlement Of all
difficulties and report on Tuesday next, when
the matter will be acted upon by the presidents
This brought about buying movement, and
prices rose 40l4 per cent, Northwestern, St
Paul, Pacific Mail, Northern Pacific preferred
Lake Shore, Missouri Pacific Union Pacific,
Chicago, Burlington & Quincy and Western
Union being most prominent in the advance.
After midday New York Central was raided
down q per cent, to 81, on reports that insiders
were selling, and there was to be fresh Issue of
bonds Of the last mentioned Tie report was
repeatedly denied by officers of the company
This break brought about decline of !, to II
per cent on the other active shares, but subse
auently selling was checked by the declaration
of a quarterly dividend of II per cent. by the
Lake Shore directors. In tho afternoon the
market cut away from the New York Central
which continued weak while the remainder Of
the list was strong There was active inquiry
for Northwestern, St Paul, Lackawanna, North
ern Pacific preferred Union Pacific, Western
Union, and Pacific Mail The floating supply of
leading shares had been reduced, and some
stocks were scarce. This is reflected by the
lending rates, which are 1-16 per cent, for Lack
swanna, 1872 Oils for Missouri Pacific I-64 a
I-32 for New York Central, Union Pacific and
Erie new seconds; 1-64 for Michigan Central,
I-128al-64 for Northern Pacific preferred, LIS
for Lake Shore, Northwestern and St Paul, and
fat for Jersey Central, Reading, Louisville &
Nashville and Chicago, Burlington & Quincy.
Pacific mail was higher, on announcement that
the export movement of provisions to China was
assuming large proportions on account OF the
war. The company's steamer San Pablo, which
sailed to-day, had full cargo Union Pacific
was strong throughout on comparatively light
offerings. The recent report of President Adams
and the semi-offieial statements Of the financial
sOndition Of the company continue to show a
marked improvement, which induced purchases
Of the stock for long account Louisville
6 Nashville broke to s6S, on rumors that
the funding negotiations were of, but
later rallied slightly oman official denial
III she aeettccInoon advance Union Pacific sold up
to 81, Northwestern to 89a, St Paul to so, Lack
awana to 1908, Chicago Burlington & Quincy to
I214, Lake Shore to 76, Kansas & Texas to 17as.
Northern Pacific preferred to 439, Pacific Mail
to 81, and Western Union to 63a At the close
New York Central declined to 944. Otherwise
the market was strong Compared with last
night, the closing prices are ! to q per cent
higher except for Louisville & Nashville and
New Yerk Central which are to 2per cent.
lower.
Transactions 287, 600 shares, to-wit: Lacka-
wanna %, 600, Lake Shore 2J000 Northwestern
49, 600, New York Central SO, 000 St Paul &C, 600
Union Pacific @, 600, Western Union 10, 00O and
Central Pacific preferred % 0O0