The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-05
FINANCIAL AND COMMERCIAL
MONEY AND SECURITIES.

The New York Market Opens Firm and
Higher, and Closes Steady.
New YORK, May 3.-Money is easy at PAP l.
Pcent., closing offered at l 1-2 % cent. Prime
mercantile paper 405 IL % cent.
Sterling exchange is dull; s~ixty-day bankers
bills 497 IL and demand 489 IA.
Government bonds were quiet.
Railway bonds were generally strong.
State securities were steady.
The stock market opened firm and higher, and
before 1890 there was an advance in prices Of
1891 12 " cent, Central and Union Pacific
and Western Union being the features. The
Improvement was due to official advices from
Omaha to the effect that wages on the Union Pa
cifc road were restored last night and all the en-
ployes had resumed work this morning, and all
business is proceeding as usual. After the first
call a weaker feeling setin, Union Pacific break
ng l IL, to So 1-2, Central Pacific 3-8, to As lS,
and the general list 1-S0 W cent. Subse-
quently, under a brisk inquiry, prices
moved up 1401 12 % cent, Missouri Pa
.cifc being the most conspicuous, with
sales as high as 81 IL. Union Pacific sold upto
60, Central Pacific to 40 IA, Milwaukee & St.
Paul to 1894, Lake Shore to SO IS, Kansas &
I6AdS 10 10 10, NEW JSISSy SAltI u ~ Oft
Northern Pacific to 90 "a, do preferred to SO 1S,
Oregon & Transcontinental to l6 5-8, Reading to
437-s, and Western Union TO 81 IL. After mid
day Northwestern and Canada Southern were
particularly weak, the former dropping to IL 39,
and the latter to A. The decline was due to a
drive by room traders, 1t was rumored that
some loans on Northwestern had been called.
This break weakened the. general market and
prices ran off Hal 18 per cent, Missouri Pa
cifc being the greatest sufferer. At p. NJ. the
market was firm again, but near the close West
ern Union sold down to 60, and this unsettled
speculation once more. In the final sales Western
Union returned to 90 3S. and the market
left off about steady. Compared with Friday the
closing pri ces are l IL per cent. lower for Can
ada Southern, l for Northwestern, ~ for Lake
Shore, "a for New York Central, 3S for Oregon
& Transcontinental and Reading, and l IA
higher for Wabash preferred, I for Michi-
gan Central, IS for Central Pacific. "a
for Chicago, Burlington & Quincy; IA for North
ern Pacific, Rock Island, Texas Pacific. and
Erie, 3-S for Delaware & Hudson, "a for Denver
& Rio Grande, l for Michigan Central, IL for
Kansas & Texas. New Jersey Central, and Wa
bash common. Among the inactive shares Ore
gon Navigation sold up 8 3-8 per cent, to 70 rs,
Ontario & Western 81 to 10, East Tennessee.
Virginia & Georgia preferred l, to II IL, and st.
Paul. Minneapolis & Manitoba from 20 IA to
% IS. reacted to 211-4 and closed at 2112.
Minneapolis & St Louis preferred declined L IL,
to rs, and Pittsburg | to lao.
Exports of specie for the week So, 743, 663, ma
king a total since Jan. l of $41, 100. 300, against
$5.5T,9 37 for the same time last year,
Total sales of stocks for the week 2 ,se so9
shares, an increase of 327, 500
Transactions 43l. 600 shares, t,.w,i. & ooo
Canada Southern; 81, 900 DelawH 70 act onno
& Western: 5000 Lake Shore 1Oeo Louisville &
Nashville; 1000 Missouri Pacific; is, 900 North
western; {, ooo Nordher'A Pacific; Is. 600 Reading;
$1,000 MIlwag ! q -, Paul; 9l,0OO Union Pa-
cifci and $4,000 V~,festern Union,