The Indianapolis journal., 1884-04-21
[NANCIAL AND COMMERCIAL
MONEY AND SECURITIES.
Slightly Higher Prices, Followed by DulIn'
and Another Decline.

Slightly Higher Prices, Followed by DulIness
and Another Decline.
New York, April 19. Money easy at 1-202
per cent. Prime mercantile paper 4a5 IL per
cent
Sterling exchange steady; sixty days bankers
bills, 4s7 ID, and 4S9 IL for sight
Governments quiet
Railways weak. West Shore fves broke from
81 IA to 50 l-2
State securities were dull.
The stock market opened generally small
fraction higher for majority of the active
stocks, Missouri Pacific being 3-s higher In the
first fifteen minutes there was a further advance
of Is to 5-S but from 1915 unUil about 11:45 or
nearly u o'clock the market was dull and dreop-
ing, gradually becoming weaker under some
hammering of room traders. Shortly after 1890
the bears attacked Union Pacific and started a
report that owing to a decrease in the earnings,
it would pass the next dividend This
report was emphatically denied by Union
Pacific officials but before the denial
became known the raid had gathered
strength and the price of Union Pacific
was depressed IA per cent, to 81 3S, by 2ocloek
Other stocks were also raided to limited ex-
tent. and the decline became general though not
SO important in any cases besides Union Pacific
and Canadian Pacific. Reading declined per
cent, to 4S 5-S, Ohio and Mississippi 9, to Is IL
Canada Southern IA, to 49 IA, New Jersey Cen
tral !, to 81 IA, Delaware, Lackawanna and
Western 5s, to 11S 3-4, Missouri Pacific SO, to
so rs, Louisville and Nashville 34, to 46 3-4, Mil
waukee and st Paul 5-S, to 85 IL, and other
stocks to 1-60l-2 Canadian Pacific was excep-
tionally weak and declined "a, to AS, recovered
to 80 and fell back to 49. In the last hour the
decline continued and prices fell steadily without
reaction until the close, which was generally
at the lowest prices of the day. The general re-
suit of the days trading was governed by the
attack made upon the market in the afternoon.
All the active stocks on the list with the excep-
tions of Northern Pacific common and New
York Central, closed lower than last night
Union Pacific, which was the leading feature
traded in to the extent of over l20 600 shares
and shows a decline for the day of 3-8. Other
declines We're Canadian Pacific 2 IA, Denver &
Rio Grande /, Missouri Pacific l. Reading L "a,
Milwaukee & ST. Paul ] Is st. Paul d
Omaha common ! l-2 and do preferred ] "a
The other declines were less than l per cent.
Application has been made to the Stock Ex-
change to list So 600, 900 of Louisville & Nash
vile collateral trust bonds, dated March l, 1882.
The bonds bear per cent. interest have sink
ing fund, and are convertible into common stock.
They were negotiated year or more ago. New
York, Lake Erie & Western also applies to list
100000 of collateral trust bonds bearing per
cent interest
Transactions aggregated 434, 900 shares to wit:
Central Pacific, 5,000; Delaware, Lackawanna
d Western, 73000 Erie, 10000 Lake Shore,
1000; Louisville e Nashville, 5000; Missouri
Pacific, 1000; Northwestern. 5000 Pacific
Mail 5000; Reading Al 1000; Milwaukee g. St
Paul 2s,000; Union Pacific 12s, 600; Western
Union AZ, coo; Northern Pacific, II ,90o; Canadian
Pacific 5000, and Oregon g. Transcohtinental,
5000. N ft