The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-09
New York Stool, market,

New YORK. Jan 8-Money easy at 1 IL a
q ~ per cent; closing offered at per cent.
Prime mercantile paper, 5 as 12 per cent.
Sterling exchange strong for sixty days, 4S3;
sight 485 "a.
Government bonds were steady.
Railroads bonds were irregular West Shore
fiTes declined from SO IA to 81 H. and rallied TO
sc "a on sale of 81, 100000; Chesapeake & Ohio
currency skies fell off to 40, Union Pacific sink
ing funds to III 1-2, Texas Pacific land grants to
Essex frsts rose to 1856.
State securities were dull.
Stocks opened weak and lower to-day, the
Bank of the Republic complications having been
freely used by the clears" to depress prices
ALSO, the 'shorts" circulated exaggerated reports
Iof the cutting of freight rates by eastern and
western roads. The decline ranged from I-2 to
b SIS per cent, the latter on Oregon & Transcon-
Hnsntal, which sold down from 30 Is to 30 5-8
After this decline there was a rally of Is to l.
The improved feeling was due to the good buy
ing of stocks and the official announcement that
the affairs of the Bank Of the Republic were in
good shape, and that the institution was not only
solvent, but after charging of every asset that
might possibly be called doubtful, it had clear
surplus of $500 900 over and above its capital of
81 500, 900, which is intact
There was another slight reaction, but in the
CLOSING dealings the market was generally firm
some stocks selling up to the highest point of the
day Union Pacific was the great feature of
speculation throughout the day, and transactions
ia this stock reached n, 1874 out of total of 327
POI shares This stock was the objective point
lOf the N'bears," and the short interest in it
again increased. 1t was freely taken during the
afternoon by inside parties ON information that
Fhe earnings for the year will show a surplus of
s., 200, 600 over and above the dividend, and
probably more Official statement of the land
department of the company shows that during
THE year l, 10S.6 75 acres have been sold for
$50, 792, $50, which, with the 1914 OBJ acres sold
the previous year for SIS 078 400 makes the total
ITO date A. 1852, 6S7 for $18 $40 719 with about
A3, 900, 900 acres left on hand This statement
WAS supposed to have something to do with the
inside buying
In late sales Union Pacific moved up to "a IS
louisville & Nashville to 46 rs, Missouri Pacific
to 80, Western Union to 70. Stocks on the
Northern Pacific system were subjected to
repeated attacks by the ''old bear" party Ore
lgon Navigation declined 3 per cent, to 81, and
Improvement 2 to 81. Oregon & Transconti-
mental recovered from 80 5-8 to 81 "a on the an
mOuncement that company had completed ar
engagements whereby 81, 500 shares each Of Ore
tg0n Navigation and Northern Pacific common
and preferred would be deposited for one year in
the Farmers Loan and Trust Company as secu-
rity for a loan of S. 100000 the proceeds to be
used to take up an equal amount of the com
pany's bills payable.
Compared with yesterdays close, prices are l-8
ITO LIE lower. Chicago & Alton is | 3-4c higher
at L.. In specialties, Alton & Terre Haute pre-
Serred declined l, to SO, and Chesapeake & Ohio
first preferred 1-8, to "a Is. Spring Mountain
FOse l IA, to 81, and Memphis & Charleston 1,
ito 81
Transactions aggregated 327 900 shares, as fol
lows Delaware Lackawanna g. Western, 81
000 Erie Is, 900; Lake Shore, 26 000 Louisville s.
Nashville 10 000 Missouri Pacific, - 000 North
western, 5000; Reading, 5000; Milwaukee g.
St Paul 30, 600; Northern Pacific, 10, 600; Union
Pacific, Y. 600; Western Union, 1000; Oregon e.
Iranscontinentsl sc, 900.