The Indianapolis journal., 1884-08-20
FINANCIAL ND'COMMERCIAI
nfoNkY ANp sfocKs.

Favorable Reports Leave ssas Market stronger
and Efigher
NEW YoRK. Aug. I9--Wensy easy at per
cent; closed offered at 2 per cent
Prime mercantile paper 81 R62 per cent.
Sterling exchange, sixtydays, steady at "a. S233;
sight s4,S4
Governments irregular:
There was brisk demand for railroad bonds
and a general advance In prices. Erie new sec
cnd coasols rose from 65s to 6s, and reacted to
670674.
State securities duh.
The stock market was strong and even buoy
ant at times, and the transactions were on a
larger scale than for few days past The &C
tiyity and advance was due to the announcement
that John King, jr., had accepted the position Of
assistant president of the Erie and reports that
the English owners were gratified by the change
and would advance the money necessary to
iiquidate the floating debt, and to favorable re-
ports concerning the corn crop, and official state
ments that the Union Paeific's NET earnings for
june were $1,060.0o0, while It required only
,$960G90 to pay "a z per cent. dividend
on stock, rentals and interest and also
charges, Including the sinking fund The
commission houses report an increasein outside
orders The Improvement In prices in active
shares ranged from to 2 per cent, Union Pa
ciic making making the latter advance In the
afternoon speculation was somewhat irregular.
and Louisville 81 Nashville sold down IL to 34aa
The repainder Of the list. however. declinedl less
than per cent Later on Union Pacific, Cana
dian Pacific, Canada Southern, Pacific Mail; the
grangers and Lake Shore sold at or near the high
est prices of the day. The market left off strong
Compared with last night, the closing prices are
~ per cent higher, except for Northern
Paeific preferred, which is lower. East 1ennes-
see WAS active, rising from st to 81, and
again neeeding to to IS for the common
and from. g to l01 receding to TO- for preferred
on reports that the board Of directors were to
be reorganized and General Huidekoper made
president. Bankers & Merchants sold up g to
IS; Cleveland, Columbus, Cincinnati & Indian
apolis & to All; chesapeake & Ohio first pre-
ferred (, to l5s illinois Central l. to 129; Long
Island 8 to66; metropolitan Elevated IL to Ii
Minn essota q ST. Louis preferred ], to 322a;
Manhattan consolidated y, to ~; Oregon Ina
provement q, to 24l; Pullman Palace l. to liz;
Richmond e Danyile3 to. 49, Manitoba q to
9Ta; ST. Louis q San Francisco 4 to %; St
Louis e San Francisco preferred 4, to 80; and
Colorado coal !, to l2ss
Stout e Co, notified the Stock Exchange that
shey are prepared to pay all indebtedness IN full
President and Receiver Little, Of the Central
railroad, said to-day, Tin regard to Dividend
lyon can say on my authority that the dividend
will be paid when due, outof the eempany's
earnings. No proposition fer sealing down
dividends has been entertained for a month.
Mr.. Vanderbilt wasn't asked, nor advanced
money"
Transactions were 300 coo shores, as follows
$4,000 LackaWanna, g, 600 Erie, 900 Lake
Shore 20, 600 Northwestern, 81, 900 st. Paul AZ !
600 Union Pacific $4,000 Western Union, Is, I
800 Oregon 10 TranseontiRental i12,N 600 East
Tennessee Virginia 6 Georgia