The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-03-17
FINANCIAL AND COMMERCIAL
STOCKS AND BONDS.
Activity in the New York Financial Market
-Hiaher Prices Recorded,

Activity in the New York Financial Market
Higher Prices Recorded,
New YORK, March D.-Money is easy at IL
az per cent, closing offered at l. per cent
Prime mercantile paper as IL per cent.
Sterling exchange is steady; sixty day bank
ers bills 4S6 "a and demand 4S9 IA.
Bar silver, 81. IL 81
Government bonds were steady
The demand for railway bonds continues large
beyond precedent, and many commission houses
have heavy orders from investors which cannot
be filed, for the reason that even the constantly
advancing prices do not bring out the supply
needed The demand is not confined to home in
vesters, but extends to foreign houses, who have
large orders for European accounts The
steamer to-day took out an important amount of
bonds, and further shipments will go forward
next week To-day there was an advance right
through the entire list, and the improvement in
some cases was very marked. West Shore frsts
were the special feature of the market, advanc-
ing from Sc 10 to IS ga on the large sales
So, 331, 600 changing hands on the way up
The activity of these bonds is due to a report
that the terminal company had secured re
newal of its loans, which will do away with the
necessity of sales of their bonds for year to
come. The revival of the report that eXPresi-
dent Osborn. Of the Illinois Central and friends
would take an active interest in the property
also assisted the upward movement Louisville
81 Nashville generals We're taken for foreign ac-
count mp to 95 and sale of nearly $500000 of
the eompanys collateral trust bonds. not listed
at the Exchange, was made to a foreign house at
S7I20SS
State securities were steady; Tennessee com
promise rose to 30.
Judge Lawrence, of the Supreme Court, to-
day handed down decision in the case of VIM.
j. Hutchinson, Stock Exchange broker, con
tinuing the injunction against the governing
committees resolution. of expulsion until Hutch
inson's suit for 100000 damages against the
governing committee has been decided.
Stocks, after an irregular opening, became
weak and prices declined 1871 per cent, the
latter on New York Central, which fell off
to l19 IA. The weakness was due to unfavora-
BILE advices from the West regarding the railway
situation there. After the first call there was a
complete change i'll the temper of speculation,
and the feeling of weakness and hesitaney gave
way to that of strength and almost buoyancy.
The market was also more active and prices re
corded an advance of 1-461 IA per cent, with
Pacific Mail, Lackawanna, Western Union I'm
ion Pacific, the grangers and Gould shares as
features in the afternoon the market was com
parativey firm, but near the close, under reali-
cation, Northwestern fell off IA. to III, Ore
gon 81 Transcontinental 10, TO 90 Union Pacific
"a, to n SIS, and st Paul SO, to 81 "a; outside
these shares the decline was merely fractional.
Pacific Mail and Lackawanna continued strong
throughout the day. New York Central
sold at difference of IA between
cash, seller three days and regular, and
the stock loaned at 1S014 and later at
1-16 for use After the delivery hour the stock
was quoted ex. dividend of per cent quarterly.
The street was flooded at the time with bearish
r1iinors regarding the probable action Of the
Northwestern pool. The steamers for Europe
to-day took out no gold. OF the thirty leading
stocks fifteen closed higher this evening than
last, twelve lower and three unchanged. The
result of the weeks trading was generally higher
prices Compared with last Saturday, of the
thirty leading stocks twenty three were lao
] IA higher than a week ago, with the excep-
tional advance of 3 per cent. on c., c., G. & l.
Exports Of specie for the week ended to-day
1855 900; imports of specie for the same time
$lO5, 900. Sale of stocks for the week. 1,25S, s36
shares.
Transactions aggregated 202. 900 shares as
follows: Lackawanna. 80 600; Erie, II, 900; Lake
Shore, 5000; Northwestern 5OO0 New York
Central, 5000; Pacific Mail, l1,00O; st. Paul,
10000 Texas Pacific 5000; Union Pacific, 10,
600; Oregon & Transcontinental $4,000.