The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-28
FINANCIALAND COMMERCIAL
MONEY AND SECURITIES.

The New York Market Opens Strong, but
Closes Irregular and Lower.
New York, June 27.-Money easy at 3d4p per
Ent., closing at 2
Prime mercantile paper, sac per cent.
Sterling exchange steady; sixty days, $4S1l;
hight, 81. SO.
Governments lower with very light demand
Railways heavy, especially Erie seconds
which broke to As.
State securities lower for Tennessee old and
aew skies, which sold at 49,
The stock market this morning opened strong
for Chicago, Burlington & Quincy, Rock Island,
Lackawanna. Louisville & Nashville, Missouri
Pacific, Pacific Mail Union Pacific, and Western
Union, and weak and lower for the Vanderbilts,
and Kansas & Texas. Western Union at the
same time rose Il, to 3d. Rock Island, l, to lO5;
Louisville G. Nashville, II, to "a; Missouri
Pacific, !, to 93s; Northern Pacific, s, to IA;
Northern Pacific preferred, l, to 80; Oregon &
Transcontnental, :, to 8; and Union Pacific, !,
to 49,.
This advance checked the downward movement
in Vanderbilts, which rallied 403 per cent,
but subsequently Lake Shore was freely pressed
for sale, and broke 81 per cent, to 61s. Mlchl-
gan Central dropped g. per cent, to 51a New
Southern Il per cent to 24s. No new PERSONS
were assigned for the decline. and the break was
ascribed to ''bear" attacks. The general list was
weak and unsettled, in sympathy. The market
continued unsettled until after l P. NJ, when it
was rumored that the Vanderbilt party had ne
gotiated a sterling loan Western Union, Mis-
souri, Pacific, and Lackawanna exhibited strength
about this time, and the last named was strong,
on a statement of the directors that the earnings
of the company showed 4.21 per cent on the
stock for the past six months, and on a
declaration of the usual dividend. The ad-
vance in the shares mentioned, coupled with
the rumors of the Vanderbilt loan caused some
buying for short accounts. Michigan Central
rallied to "a; Canada Southern TO 26a; Chicago,
Burlington & Quincy to 10S4 Northwestern
to 843; st. Paul to 60s; Lake Shore to 694; New
York Central to 96a regular, and 919 cash; Union
Pacific preferred to 3S3, and Union Pacific to
81. Near the close, Union Pacific was raided
down to 29s on reports that the company would
default on its interest; Northwestern returned
to S25 on an official announcement that the com
pany would issue $14, 1871, 800 stock to take up
the Blair system Of roads The market closed
irregular. After business hours kilograms were
received from Boston, contradicting the reports
that Union Pacific would not meet its interest
charges. Compared with last night
the closing prices are a. lower for
Michigan Central, 50 for Union Pacific, for st.
Paul preferred, q for Canadian Pacific and
Lake Shore, j. for Central Pacific and Kansas
and Texas Il for Northwestern. a for New
York Central, IL for Texas Pacific, Is for Erie.
Wabash preferred is per cent higher. North
ern Pacific, St Paul & Denver z. Lackawanna
II, Quincy & Illinois Central z, Western Union
!, and Missouri Pacific Il per cent,
Transactions 453, 900 shares. to-wit Central
Pacific $4,000; Lackawafna 10000 Erie, 15.-
900; Kansas & Texas, {, 600; Lake Shore, 5000;
Louisville & Nashville 1000; Missouri Pa
cifc, 6000 Northwestern, 30, 900; New York
Central, $1,000; Northern Pacific, Al 900; Texas
Pacific, 10,0 900; Union Pacific, 60 200; Western
Union, 80, 600; St Paul, $1,000: Canadian Pa
cifc, 5000; Oregon & Transcontinental, 5000