The Indianapolis journal., 1884-01-15
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.

A Dull and Weak Market In New York.
NEW YORK, Jan. 14.-AIoney easy at pa
21-2 per cent. closing at 2 per cent
Prime mercantile paper 5 06 l-2 per cent.
Sterling strong at 81; sight, Sc. The posted
rates for bankers bills on London were ad-
vanced twice, the last time TO 85 81 12, owing
to continued scarcity of commercial bills The
advance checked business and the market closed
easier on the announcement that about 400. 0OO
bushels of wheat had been takenfor export day.
Governments were firm.
Railways were quiet. other than West Shore.
Transactions in West Shore d Buffalo 5s to-
day aggregated about 81, ,250. 900 at 5S05S 5-S
4056 38 a 55 rs. Erie consols seconds dropped
from 80 IA to IS IA, and closed at 80 3-4 Deal
ihgs in both these bonds were attended with con
siderable excitement. The transactions IN
West Shore formed a great feature of the
speculation on the Stock Exchange during the
morning.
State securities were dull
The stock market opened weak and prices de-
lclined 1-S TO 7-8 and after rallying 1912,
again became depre ssed, in sympathy with the
break in Wabash preferred and st. Paul. The
Lowest quotations of the day were generally cur
rent at the close when prices showed decline
of Il to per cent, the latter in st. Paul. The
depression due to the appointment of a re-
ceiser for the North River Construction Com
pany; to the heavy pressure to sell West Shore
Il Buffalo fives to the announcement that Gen
eral Manager Clark, of the Union Pacific, had
refused to ratify the traffic agreement made with
r. the Chicago, Burlington & Quincy, and Denver
& Rio Grande roads last week; and to the bellig-
erent attitude of the Lackawanna towards the
other trunk lines.
During the afternoon there was some heavy
buying both for long and short account
which led TO temporary rallies. The buying was
based on reports that the joint executive COM
1nittee on the Eastern trunk-line pool was in
session and compromise with the Lackawanna
would be agreed upon. II was also stated that
1he objections of Manager Clark to the traffic
agreement would be adjusted by the executive
officers of these roads.
AS compared with Saturdays close, st. Paul
declined 5-8; Canada Southern, IA; North
west. 5 s; Michigan Central, ? Is; Missouri
Pacific. IA Kansas & Texas, 49, New Jersey
Central IA: New York Central. l IA; Erie,
2 l-S; Northern Pacific, 5-8 preferred 1-2; Ore
gon & Transcontinental IA Omaha, 5-S pre-
fcrred | 5-S Texas Pacific, l IA Union Pacific.
l-S; Wabash preferred. l-S Reading advaced
rs at opening and later fell off to 55 "a. The
decline in the remainder of the active list was
frein u to per cent. Pullman Palace Car de
slioed from 5S, to los rs and rallied to 100 1-2;
Manitoba fell "a, to 95 and recovered to 95 2;
Oregon Improvement sold at 90, a decline of 8
per cent as compared with the last previously
reported sales. Oregon Navigation opened at
I / 2 higher, at 100 and later dropped to 81.
Transactions aggregated 340000 as follows:
Central Pacific, 900; Lackawanna, 32,0GO Erie,
5000; Lake Shore, 14,000; Louisville & Nash
vile, 9000 Missouri Pacific, IL 900; Northwest
Grn 10 00O New York Central 5000; Reading
u ono; St Paul. 60000 Union Pacific So 900;
Western Union, 5000; Northern Pacific, 5000;
tregon e. Transcontinental, $4,000