The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-30
New YORK. Stocks STRONG and Active.

York
New York Stocks Strong and Active.
New York, Jan. 29.-Money, 1 1912 per
cent closed at per cent
Prime mercantile paper, 405 IL
Sterling exchange, sixty days, So IL; sight, =.
Produce exports for the week, 81, 93S, 900.
Government bonds were firm.
There was firm tone to railroad mortgages,
with further improvement in prices. good
investment demand prevails for leading issues,
and the disposition to buy is on the increase.
large business was done in West Shore frsts,
and the price advanced on reports of negotia
tons with Vanderbilt for control of the property,
but none Of the stories put a1oat could be veri
fed.
In State bonds, Missouri skies of 80 sold at
100; Alabama, class A, at g. and Arkansas,
Pine Bluff issue, at 20.
Speculation at the Stock Exchange was active
and buoyant during a greater part of the day,
and further general advance in prices was es
tablshed Operators on the ''bulr side mani
Tested increased confidence, and bought
freely throughout the day. Deal
ings were unusually well distributed
and the entire list participated in the improve
ment This rise in prices caused some of the
IL !
leading bears have not yet taken in their
''shorts. The only important reactions
CURED at the opening and again, about O'clock
prices falling Ia TO 1-2 per cent. The last de-
cline was occasoned by reports that rates
Utah business had not been restored, the reports
having arisen from a mlsconception OF dispatches
sent east by Commissioner Vining After the
close of business it became known that Com
missioner Winnings kilograms simply stated the
commissioners were to use the classification of
the trunk lines instead of UnionPacifc, the
classification is different. 1t also announced
that rates had been restored and matters were
working tremendously, the change in the temper
of speculation steadily bringing in outside orders
to buy stocks. Commission brokers to-day
report a larger business in this line than
for long time past The removal of all embar
easements from the Northern Pacific system has
relieved the market of an incubus which has
been hanging over it for some time past, and to
this is due in no small degree the improving
tendency in affairs the Stock Exchange.
Manitoba was the prominent feature in the deal
ings, having sold up from SO IA to % IL Lack
awanna, st Paul, Louisville az Nashville, and
Union Pacific were also conspicuous FOR strength
In the afternoon Oregon Navigation fell off to
80, against 100 earlier in the day, and Manitoba
sold down to 80 IA. just previous to the close
louisville & Nashville, Kansas & Texas, Texas
Pacific, and Pacific Mail were in active demand
at rapidly advancing quotations.. This changed
the market again, and speculation left off
strong As compared with the close last night
prices are IA to per cent higher. Alton q
Terre Haute advanced l, to 81, and Minnesota &
st. Paul preferred 2 IL, to "a IL; Oregon I'm
provement fell off to A. rallied to 40, and closed
at ~. Manitoba another proof to-day that
stocks had been oversold without attracting
much attention at any time, until the shorts"
attempted to cover, which they did in this case
to-day. Last Thursday it sold at 81 Ia and last
night closed at IS 3S. opened this morning at SO
IL, advanced to 95 - and in the afternoon sold
successfully at 93, SO IL, and 80 IA the greater
part Of 5000 shares sold to-day, however, being
above 49,
The Mail and Express says: 'It is stated on
very good authority that the present "bull"
interest in the market is the strongest which has
existed for over two years"
The same paper says it is known that Gould
has made it a condition in all new pools which
he has gone into, that the stock should be held
for at least six months.
There has been rumor that the Western
Union company had secured control of the Balti-
more & Ohio telegraph lines. The officers of
both the Western Union and B. & o. say there
Is no truth in the report, yet in some cases hints
have been given of a traffic agreement under
which rates can be well maintained
The stocks held by the Oregon & Transconti-
mental company, after deducting 10000 sold ON
Saturday to the syndicate, are understood to be
142072 shares of Oregon Railway Il Navigation;
1913 700 Northern Pacific preferred, and HI 934
Northern Pacific common. The value of these
at prices this afternoon say SO for Manitoba. 81
for Northern Pacific preferred, and II for North
ern Pacific common, would be $23, 466, $50. Add
to this say 81 600 600 of other assets and the ag
gregate will be $25, 1866 $50.
The latest rumor intmates that a special
meeting of the directors of all companies of the
Northern Pacific system will be held within ten
days, at which certain designations will be ac-
cepted, to be replaced by the names of Sage
Gould Field and two prominent railroad men,
. one of whom is connected with the Southwest
ern system, and the other with the Union Pa
cfc railway.
Transactions aggregated 506, O00 shares as fol-
lows Central Pacific 5000; Delaware, Lacka
wanna G. Western, 81, 600 Denver & RIO
Grande, 5000; Erie, $1,000; Kansas & Texas
$1,000 Lake Shore, $4,000; Louisville & Nash
vile, $4,000; Missouri Pacific, 1000; New York
Central, G000; Northern Pacific, 40 000 Pacific
Mail, 5000; Reading, 5000; st. Paul, 5000
Texas Pacific, 1900; Union Pacific, $1,000
Oregon & Transcontinental $4,000