The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-10
New York Financial MARKET.

Nzw YORK, Jan. 9-Money easy at l 1-2@
2 l-2 per cent: closing offered at per cent
Prime mercantile paper, sac l-2 per cent
Sterling exchange strong; for sixty days, Asa;
sight, 4S6 "a.
Government bonds were firm
Railways were strong; Kansas & Texas gen
soraIs rose to 81; West Shore fives were weaker
lat 81 I-2062.
State securities were steady
The stock market opened fraction lower all
around, and in the first ton minutes business
prices ran off 1881 per cent Shortly before
the first call speculation became stronger, and
general advance ensued. Michigan Central shares
regular, opened at 50 1-8 and rose rapidly.
Tt was reported that Vanderbilt had notified his
brokers that he wished them to take up and pay
for all Michigan Central they were carrying for
his account This report gained credence from
the fact that Vanderbilts brokers did call in
round amounts of stock. The ''shorts" in Jer
sey Central also twisted that stock, which closed
at Sc IL last night and openedat IS cash. fell off
to 81 and later returned to 80. Union Pacific ad-
vanced from IA IL to 76 IL Louisville g. Nash
vile from 46 5-8 to AZ II, and Missouri Pacific
from SO 3-8 to 90 IA The remainder of the
list also showed an improvement in
sympathy, subsequently, reacted IA to l per
cent, but during the last hour of business
the market again became strong, with Union
IN r. a rise of 3 IA per cent from the lowest
point during the day. The bears" attempted to
check the rise by putting out seller of sixty
options at prices about 202 IA per cent. below
quotations in the regular way, but all their OPP
Ftions were freely taken and failed to have the
desired effect Transactions in this stock were
enormous and reached the large total of 94,095
shares or about third of The entire business
in all stocks for the day. The advance in Union
Pacific was stimulated by continued purchases
on the part of large capitalists identified with
the property, it having been made known that
holdings and securities Of other roads in the
treasury of the company have increased $780,
t04757, Of which 1921 no 230 are bonds, and $751;
337, 34l stocks, many of which are interest and
dividend paying.
Granger shares. notably St. Paul which for
some days have been rather weak were all
firm and higher the denial of the reported
lcutting of rates by the Chicago Burlington &;
Quincy in Nebraska. Louisville 81 Nashville was
strengthened by the report that the company
would shortly resume the payment of dividends
Oregon q Transcontinental declined to 30 IA in
early dealings the rumor that new in
debtedness of s., $780, 900 had been discovered
This was officially denied and the stock rose to
81 IL. Central Pacific advanced to 665-S Quincy
10 l21 "a, st. Paul to % 38, Louisville & Nash
willie to AZ 3S, Lake Shore to 96 rs, Missouri Pa
ciic to 81 3S, Kansas 81 Texas to %, Northern
Pacific preferred to Sc, Texas Pacific to ~ "a
and Western Union to 10 3-3. The market closed
strong with an advancing tendency
AS compared with last nights close prices are
up Ii to 3S per cent. for the usually active
list and SO for Union Pacific and 2 rs for Mich
gan Central.
In specialties New York & New England was
6n better demand and up to 16 "a, an advance of
/ IA Milwaukee, Lake Shore & Western pre-
ferred rose l, to ST. and Oregon Navigation 4, to
l0l bid.
The Stock Exchange governing committee
listed So, 456, 900 frst-mortgage per cent bonds
of the Gulf Colorado & Santa Fe Railroad Com
pany; $l4, $50 900 per cent bonds of the New
York, West Shore & Buffalo Railway Company
this completes the entire issue of frst-mortgage
bonds) 81 300 900 Wisconsin and Minnesota di-
vision per cent. bonds of the Milwaukee & st.
Paul Railway Company; $1,402 600 consolidated
6 per cent bonds of the St, Paul. Minneapolis g.
Manitoba Railroad Company; 81, 600, 900 first
mortgage per cent. bonds of the Oregon e.
Transcontinental Company; 81. 100000 first
mortgage per cent bonds of the Texas g. New
Orleans Railway Company, and 81, 075, coo first
mortgage Sabine division per cent bonds. 1t
was also decided that when the engraved certifi-
oates were ready for use s., 900 of the stock
Of the last-named company will be placed on the
list.
Transactions aggregated 2S2OO shares, as fol-
lows: Central Pacific, 5,000 Delaware Lacka-
wanna q Western, 1900; Lake Shore II, 900;
Louisville & Nashville, 1000; Michigan Central
5000; Missouri Pacific, 1900; New York Cen
trial, 5,0O0 Milwaukee q st. Paul, q, 000 Union
Pacific %, 600; Western Union. 9O0O Northern
Pacific, 5000; Oregon & Transcontinental, g.
900