The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-17
Now York Stocks Weak and Lower.

New York Stocks Weak and Lower.
NEW York, Jan. l6.-Money easy at pa
2 l-2 per cent; offered at IL per cent. at the
close.
Prime mercantile paper, 5 az per cent.
Sterling weaker at 81 IL; sight, 81.
Governments were strong.
Railway bonds were weak and lower. West
Shore fives dropped to 40 rs and rallied to 52
reacted to so rs and closed at 81 IA. Sales of
ST. Ole, 900 Northern Pacific firsts declined to 101
Richmond & Danville to 60 IA, and Wabash, St
Louis division, TO 100 IL Erie new seconds
rose to SO.
State securi ties wero quiet.
Speculation at the Stock Exchange for the
first hour of business was feverish and unset
tied. Tho market opened fraction lower, then
advanced, but soon became weaker again. The
fluctuations were unimportant After IL O'clock
the dealings were characterized by more
hrmness, followed by reaction OF Ia
to l Is During the afternoon
St Paul developed marked strength
rose to l 49, to ia SO, which had a favorable
effect on the general list Oregon & Transcon-
tinental did not sy1npathize with the advance
but on the contrary, was heavy and depressed.
The price broke to 80, from 81 IL. Earlier in
the day, ON the talk of the appointment of re
ceiver, an effort was made to sell block of
long" stock which detected by the ''bears. "
1t was also stated that the stock would moi be
taken in loans hereafter o icials assert that
the company has press :aims falling due
between 2 and o'clock the market became de.
cidedly weak for Western Union, Oregon &
'Transc0ntinental, Missouri Pacific, Northwest
ern, Canada Southern, Lackawanna, Lake Shore
New York Central, Union Pacific, and North
ern Pacific preferred The market closed weak
The market was depressed to-day on reports
that calls hao been made for large loans on Ore
gon & Transrontinental and on the disturbed
condition of affairs of the Ontario 81 Western
company The liquidation of West Shore bonds
continues. Two prominent capitalists were re-
ported as sellers of bonds, and the reasons as
signed for the break i'll the market after o'clock
was the sale of some round amounts of long
stock which the margins had been weakened.
AS compared with yesterday, the closing
prices are down IL to l 10 per cent, follows:
Oregon Improvement dropped 5 per cent, to so;
Chesapeake q Ohio l. to IA; do. first preferred
/ 18, to %; l., B. &c w. 2 rs, to 26 2; NJ. & ST.
i. l, to Is, and Richmond & Danville l Ia to
So IA Richmond & West Point rose l. to %;
Cedar Falls l, to IL; and Bankers & Merchants
telegraph - to 100, Oregon Navigation was
lent at Is per cent. for use.
The stockholders of the Ontario g. Western
Railroad Company elected eight of the thirteen
directors.
The board of directors of the Illinois Central
at their meeting to-day, voted distribution of
81, 740 900 to the shareholders of the record of
March l, being a dividend regular of per
cent, or 81, 100, 900 in cash. and an extra divi-
dend of per cent Or $3.50, 600
Transactions aggregated 469 900 shares, as fol-
lows: Central Pacific, 5000; Delaware, Lacka-
wanna e Western, 1900; Rio Grande, 5000;
Erie. %, 600; Lake Shore, $4,000; Louisville g.
Nashville, a. 000 Missouri Pacific, $4,000 North
western a. 00 New York Central ID, 600; North
ern Pacific, II, 900; Ontario & Western, 1000;
Reading, 5000; st. Paul, 80, O00; Union Pacific.
10000 Western Union 25, 900; Oregon g. Trans
continental, $1,000; Canadian Pacific, 5000.