The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-04

The Market Unusually Strong and Active
and Transactions Large.
New YORK, Feb. Mooney is easy at 1 1902
per cent.
Prime mercantile paper, 405 - per cent.
Sterling exchange, bankers bills, are firm at
1S5 IL for sixty days and 4S7 "a for demand.
Bar silver, $1.11 3-s.
Government bonds were firm.
Railway bonds were strong and in active de-
mand. Chesapeake & Ohio skies were c~onspicu-
GUS for an advance of nearly 2 per cent, selling
up to so IL. Cleveland & Pittsburg sinking
funds rose l per cent, to a; Denver & Rio
Grande consols l IL per cent, to So ID; Erie new
second consols l per cent, to 93 90 "a; Nickel
plate frsts 3S per cent, to 102; New York City
& Northern generals 3 per cent, to 80; New
Jersey Central consols l per cent, to 113; New
Orleans & Pacific frsts l per cent, to 81; North
western registered gold sevens l 1-2 per cent, to
125 IL; Ohio Central irsts 1 IL per cent, to
621-2; Texas & Pacific incomes 1 "a per cent, to
45a45 IL, and do Rios l per cent, to 70.
State securities were steady.
Not since October last have the sales at the
Stock Exchange reached the total attained TO-
day, 6S5, S07 shares having changed hands. From
the opening to the close of business the tendency
of prices was upward, the reactions which oc-
Cured at intervals having invariably brought in
buyers and caused rapid recoveries. The bulls
were in full control, and were materially assisted
in their operations by the large increase in the
number of out-of-town orders and by purchases
to cover short contracts. The smaller bears
have generally covered and are now enlisted on
the bull side, but the large bears are still heavily
short, as the borrowing rates for stocks plainly
indicate. TG-aay Oregon Navigation command
ed l Is per diem for use, Louisville d Nash
vile. 1-l601-4 and Northern Pacific preferred.
New York Central and Reading, 1-64. Canadian
Pacific, st. Paul, Minneapolis 81 Manitoba, and
New Jersey Central loaned fiat. The activity
and excitement surpassed anything witnessed
in the Stock Exchange for a long time,
and the dealings in some of the leading shares
were ON an enormous scale, Union Pacific leading
with 129, 600 shares, an unusually large total for
any stock. The advance ranged from IL to 3
per cent, and extended throughout the entire
list. The great features of the market We're
Union Pacific, Western Union, Missouri Pacific,
Milwaukee & st. Paul, Delaware, Lackawann
e Western, Lake Shore and the low priced
Southwestern shares. The rise was started
under the leadership of Union Pacific, which ad-
vanced from 70 "a to 81. As the buying move
ment in this stock progressed it was discovered
that the supply was smaller than anticipated,
and this greatly assisted the advance. Western
Union followed closely after Union Pacific, and
rose from 76 IA to II 7S on a business of over
$4,000 shares. The movement in this stock to-
day developed the fact that the onslaught
on it from the officials of opposition compa-
MES has created a very heavy short interest,
which has yet to be covered. Missouri Pacific
also advanced sharply, selling up from 81 Is
to 90 3-S, and closed at the highest point of the
day. The attempt of the bears to cover in this
stock did not meet with much success, as the
market ran away from them. The dealings in
Milwaukee & St Paul and Delaware, L%ackawan-
ma & Western were large at steadily advancing
prices, the former rising from 80 12 to 90 and the
Il g.. 1DI = o - lOl = o C-1-
bears were twisted on these two stocks today.
Lake Shore was another leading feature in spec
ulation, rising from 90 IL to 101 IL, with con
siderable buying for Vanderbilt account. North
ern Pacifics were more active and higher. com
mon advancing from % rs to 1898, and pre-
terred from AZ IA to 40 7-8. Oregon & Trans
continental sold up to % in sympathy. AS com
pared with last night the closing prices are 1-80
2 19 per cent. higher. Chesapeake & Ohio was
a feature, rising to &c IL for first preferred and
to IA 5S for common. Minneapolis & st. Louis
advanced l, to IL; Nashville & Chattanooga. 1,
to SO; Erie preferred. l IA, to SO IL; Oregon
Ia; New York, S. & W., IL, to 58-8; Bank
ers' and Merchants Telegraph, 39, to 1874 IA;
Indiana, Bloomington & Western, "a, to
rs IA, and Lake Erie & Western ! 10, to 10 IL.
Texas land script rose 2 "a, to 81 "a. West
Shore fives were weak and lower, selling down
from SO IA to 81 1881 So. The sales of stock
for the week aggregated 1884, 283 shares; in.
crease, 266, 500. Sales to-day, CSC, 900 shares, and
represented nearly $400, 600, 900. The granger
stocks were favorably affected by a report that
at the meeting in Chicago, on Monday, a propo-
sition viii be submitted by Clark, of the Union
Pacific, which it was understood the Burlington
would in all probability accept.
Transactions on the Stock Exchange, to-day,
aggregated 686, 900 shares. and included 1000
Canada Southern, II, 900 Central Pacific, 67, 900
Delaware, Lackawanna & Western, 1000 Den
yer & Rio Grande, %, 600 Erie, II. 900 Kansas &
Texas, 46, 900 Lake Shore, 10, OOO; Louisville &
Nashville, "a, 900 Missouri Pacific, s, 200 Michigan
Central, "a, 900 Northwestern, $4,000; New York
Central, 80, 900 Northern Pacific, 6,000 Pacific
Mail, 20, 900 Philadelphia & Reading, 10000 Mil
waukee & st. Paul, 20, 000; Texas & Pacific.
129, 600 Union Pacific, 50, 900; Western Union,
2 1000 Oregon & T-ranscontinental, 5000 Wabash
and 5000 Canadian Pacific.