The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-11
FINANCIAL AND COMMERCIAL
STOCKS AND BONDS.

Steady Advance in Stock Quotations-Large
Sales and Renewed Confidence.
New YORK. Feb. 9.-Noney is easy at l 1-2G2
per CENT.
Prime mercantile paper, 4G5 IL per cent.
Sterling exchange is steady; sixty days bank
ers' bills 4S51-4. and demand 1884
Bar silver, Sill 5S
Government bonds were firm
Railroad bonds were strong and in demand.
Chesapeake & Ohios, class B, rose to 101, do.
GTrency, Is to So and Northwestern debentures
tJ951-4
In State securities Tennessee compromise ad
yanced to A IL.
Speculation on the Stock Exchange was char
aeterized by strength and buyers exhibited more
confidence than for some time past. The ad
vance in prices was almost uninterrupted from
the opening until the close, and extended from
I2 to 2 IA per cent The reactions at in
tervals were only fractional, and served to
bring in fresh buying orders. The fea-
lures of the market were Delaware, Lack
awanns & Western, Rock Island, Chicago
Northwestern, Milwaukee & St
Paul, Lake Shore, New York Central and Pacific
Mail The advance in the Changers, New York
Central and Lake Shore was due to Vanderbilt
purchases and an amieabe adjustment of trunk
line matters Rock Island moved up on talk of
a contest for the presidency. Pacific Mail was
in brisk demand on talk of dividend in April
next, and on the announcement that the Senate
commerce committee, at Washington, had unan-
imously reported bill giving mail pay to all
American ships sailing to foreign ports. In the
afternoon Wabash preferred ran off to % and
Northern Pacific preferred to 46 liz. but the de-
cline otherwise was light In the final transac
tons fresh buying movement set in. and many
shares advanced IL the HIGHEST nOint of the
week. Speculation left of strong and ON the
advance. AS compared with last night the
closing prices IA to 2 IL per cent. higher
except Northern Pacifcs, which are is to IL
lower Western Union, it is said, never did a
larger business at this season of the year. In
addition to its own natural increase, it is under
stood that owing to fogs and floods, it is hand
ling great part of the business of the other
companies.
The Mail and Express says: 1.-THE indications
are that prices will continue to move upward for
some time. The stocks advanced have been the
best on the list. The strength of the movement
has been IN great measure in the excellence of
the stock selected as leaders. Lake Shore Mt 81
Delaware, Lackawanna & Western at III, Chi
cago q Northwestern at 49, Milwaukee q St
Paul at 80, Missouri Pacific at &c. Western Union
at 70, and Union Pacific at 20 have merit These
are the stocks which the leaders Of the advance
have bought, and bought under conditions which
will keep them from coming upon the market for
. a considerable time These stocks have been
taken out Of the street to an extent not before
known for years. THE market is bare of good
stocks, and while prices are high enough to make
these stocks look dear, the capitalists who have
bought them will have no inducement to sell
The rise in these stocks has been accompanied
by a strong advance in bonds Gilt-edged and
speculative issues alike have gone up. There is
a large demand for bonds yet unsatisfed"
The Commercial Advertiser says: 1.-THE
week closes with the bulls far IN the ascendancy,
with a tenacious and unrelenting grip, and with
a determination to hang to what they have
got and to lose nothing The constant desires of
the field marshals ofthe street to be interviewed
and their pronounced and unreserved predict
ions for higher prices, their success in capsizing
all impedinents likely to thwart their purposes
afford most convincing proof Of the answering
fidelity with which they have adhered to their
policy formulated month ago.
The sales of stocks for the week were 2 1885,
557 shares, a decrease of 557, 726 compared with
the previous week.
Transactions on the Stock Exchange to-day
aggregated 401 900 shares, as follows: Canada
Southern, 10000; Delaware, Lackawanna &
Western, 1900 Erie, 8,e9O; Kansas & Texas
5000; Lake Shore, 360O0 Louisville e. Nash
vile, 5000; Missouri Pacific, $1,000; North
western 1900; New York Central 5000;
Pacific, Mail 5000; Reading, $4,000; st. Paul
60,000 Texas Pacific 5000; Union Pacific "a, 000;
Western Union, 13,OOO; Oregon & Transconti-
mental, II, 0Oe and Chicago, Burlington & Quincy,
5000!