The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-29

Inc borrowing uelldnl Is SSlleWIldb p6ulSF.
and, while not so heavy as bankers would de-
sire, is large enough to keep rates unchanged at
to per cent Eastern exchange is in demand
between banks at 6Oc premium.
Unusual Activity in New York Stocks.
New YORK, Jan. 2S.-Money, easy at l 1-20
2 per cent
Sterling exchange, sixty days, So; sight, IS.
Government bonds were firm.
Railroad bonds were in better demand through
out the day, and prices advanced to per cent,
the latter in Wabash generals, which rose to 60.
State bonds were steady.
There was unusual activity and excitement at
the Stock Exchange to-day, arising from devel-
opments in regard to the affairs of the Oregon
& Transcontinental company 1t was officially
announced that the Oregon & Transcontinental
company had sold $1,000 shares of Northern
Pacific common, &c, 600 preferred and 10, 900 Ore
gon Navigation to syndicate composed of
Gould, Sage Field Drexel, Morgan, and others.
The ssoek, it is understood, is not to be sold for
one year. In addition to the sale of these stocks
the syndicate is pledged to furnish the company
with whatever additional funds it may need at
per cent per annum. 1t appears that some OF the
parties with whom the Oregon & Transeontinent
al had deposited stocks as collaterals had loaned
them out and were compelled to buy them in
when the company gave notice it was ready to
take up loans The bears also made rush
to cover, and the demand led TO the remarkable
rise of 80 points in Oregon Navigation, which
sold up to 119 cash and III regular. Oregon
Improvement advanced from A "a to
81; Oregon & Transcontinental from 20 IL
to 3d. Northern Pacific from 81 Is to 3d..
and preferred from A to 40 Ia The dealings
were attended with great excitement. The gen
eral stock market opened at a fractional decline
on the statement that the railroad troubles at
the West had not been settled as was generally
supposed. The decline in prices was IA to per
cent. Subsequent developments in Northern
Paciics led to a marked change in the temper of
speculation, and an upward movement set in,
the rise being stimulated by the receipt of dis
patches by railroad officials here that old rates
on Utah and Colorado business had been re-
stored by the Union Pacific and Denver & Rio
Grande, and that the c., B. & @. had agreed to
maintain rates pending final settlement of diff
ferences on trans Missouri business. Under
large purchases a general advance of 1-2 to . 3-8
took space. Louisville. & Nashville was the
special card advancing from Al IL to 46 rs
After CLOCK the excitement subsidized, and Ore
gon Navigation reacted to 50 regular and 80
cash; Northern Pacific preferred to A 1-2, Ore
gon & Transcontinental to n rs, and Oregon
Improvement to A. The general list ran
Off IA to per cent Near-delivery Northern
Paclnc preferred was again brisk
demand, selling up to 40 Ia. About 2 600 shares
were bought in under the rule" In. sympathy
with this advance, a few shares moved UP to the
highest prices of the day The rise brought out
more 'long stock" and prices reacted IL to
IA for the general list and 3-8 to 2 3S for the
Northern Pacific system shares, In the final
sales Canadian Pacific moved up to 56 "a and
Michigan Centralto 9238. The market closed firm
with an advancing tendency As compared with
Saturdays closing prices are IA to 3 10 higher
Oregon Navigation however, is 13 3-4 higher at
SO ~; Houston & Texas advanced IL. to 46 IL;
L., n. A. & c. 3, to IS; Nashville Chattanooga
& ST. Louis, 3, to 81; Pullman Palace Car | So
to Ill 78 and Richmond & Danville to 8 - to
Net earnings Chicago, Milwaukee & st. Paul
railroad last year So, 8Sl, 1856 applicable to diyi
dends, 81, 507, $50.
Transactions aggregated 4s1, 900 shares as fol
lows; Central Pacific, 5000; Delaware, Laeka5
wanna & Western, 10000; Denver & Rio
Grand, 1000 Erie 1000; Lake Shore, 10000;
Louisville 6 Nashville, LOCO; Missouri Pa
clic, 10000; Northwestern II, 600; Northern Pa
eific 77000 Pacific Mail, 6000 St Paul, $4,000;
Texas Pacific, $4,000; Western Union, 1900;
Oregon Navigation, 5000; Oregon & Transconti-
mental, 80 000; Canadian Pacific, 10000.
It is stated that Calvin S. Brice, president of
the National Telegraph Company has transfer
red the entire capital stock of the company to
the Baltimore & Ohio The lines of the Ma
tional company along the West Shore and
Nickel-plate railways.
j. Wadsworth, ce-president of the St Paul
I6C6lVeu d ulSp6lCu io-udy lEOil AeFllll. the
general manager. intimating that the troubles
among the Iowa roads We're practically settled
except some minor details
From the Post; I'VE understand that the
transaction consummated by the Oregon &
Transcontinental Company. on Saturday was
substantially this: The company sold to a syndi
cate 10, 600 shares of Oregon Railway & Naviga-
ton stock at 75 10000 shares of Northern Pa
cifc preferred at 36, and 10000 shares
of Northern Pacific common at 16
realizing $2,3l0,000 1t also borrowed
of the same parties 81, z00.0 900 for six
months 10000 shares of Oregon Railway &
Navigation, pledged at GO. No additional mar
gin is to be called for In the s. 600 900 loan re
Gently negotiated, lenders were given the option
on 40, 750. shares of each of the three stocks
pledged as collateral at par fer Oregon Railway &
Navigation; so for Northern Pacific preferred
and % for Northern Pacific common. Surprising
the lenders take their option. the Oregon &
TTanscontnental Company will have left in its
treasury nearly 100 900 shares of Oregon Railway
& Navigation. 10000 Northern Pacific preferred
and $4,000 Northern Pacific common in place of
about $50, 600 of each class of stocks held at
the time the report of the investigating com
mittee was published These holdings would
probably be sufficient to control the Oregon
Railway 81 Navigation Company, whose entire
capital stock is only 30, 900 shares, but would
be far from sufficient to control the Northern
Pacific
Ar MIR