The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-03-04
Activity in New York Stocks.

NEW YORK March 3.--1loney easy at az IL
per cent, closing quiet at per cent.
Prime mercantile paper 405 IL per cent.
Sterling exchange is steady; sixty-day bankers
bills 486 "a; sight 489 Ia.
Governments were steady.
Railway mortgages were firm.
State securities were quiet.
Speculation at the Stock Exchange opened
strong and higher, except for nackawanna, which
was weaker, selling down from 129 3-4 to 127 Il
regular and from 100 1-2 to l2S cash. The stock
was in active demand for borrowing purposes at
the opening when as high as l "a per cent. was
paid for the use of shares. Later the rate de-
ened to Is per cent. The greatest difference
between cash and regular was 1 IA per cent,
but late in the day sales were made at 1913 cash
and regular In the afternoon the stock moved
up to 129 H. reacted to 12S 3-S, and closed at
1913 "a. At 215 o'clock many of the bears set
tied privately, and in consequence no stock was
bought in under the rule The total sales of
Lackawanna were ia, $50 shares, of which
$4,000 were cash. The price left off at
1913 A "a per cent below Saturdays closing
The 'shorts" in the general market were much
disturbed by the movement in Lackawanna, and
early in the day the demand for active stocks
was brisk and prices rose IL to "a per cent,
the latter for Union Pacific. which sold up TO
81 "a Louisville & Nashville, advanced So, to
so; Lake Shore ! 3-S, to l04 3-S; Western Union
/ 1-S, to Is 5-8; Central Pacific IA, to 62 IA;
Northwestern l. to 118 IL; st. Paul 3-S, to
81 rs, and Pacific Mail 7-8, to oil Is. After
midday a weaker feeling set in, and there was
decline of IA to per cent, Union Pacific Cen
trail Pacific, Louisville & Nashville, Northern
Pacific preferred, Reading and Western Union
leading the downward movement. In the after
West that Colorado rates had been restored
Northern Pacific preferred and Oregon
& Transcontinental were the special features
advancing to 4778 and 20 IL respectively
Northwest sold up to 1l9 So Canada Southern
to so, St Paul to 81 u.s. Rock Island to 12l -
Lake Shore to 104 So, New York Central to
III IA, Northern Pacific to % and Western
Union to 70 5S all the highest prices of the day.
The market closed strong. The strength of
Louisville & Nashville was caused by increased
outside business, on the decision of the United
States Circuit Court, which declares the railway
commission Of Tennessee unconstitutional, and
also on the decision of the Supreme Court of the
State denying the right of the State to tax the
Nashville, Chattanooga & st. Louis branch. At
one time during the morning there was differ
ence of Is to 38 per cent between Lake Shore
and Union Pacific, cash and regular
In the loan department Union Pacific lent c,ot
to IA, Northern Pacific preferred 1-64 T., 1-32.
Louisville e. Nashville flat to 1872, md Lake
Shore fat. AS compared With Satur-
days closing Union Pac.hc is 9 5-S
/, Northwest 17-8 St. PAU is Rock Island
ia L. & \. 1-S, LIE Shore l IL, New York
Central ], Eorthe1n Pacific preferred 3-8, Ore
gon Navigation l. Manitoba l "a, and Pa
eitic Mail and Chicago, Burlington &
Quincy SO; Minneapolis & St Louis IL, to
16 1-2, and ST. Louis 6 San Francisco 2, to %.
The suspension of H. H. Landon an
nounced at the Stock Exchange. Howes & Co.,
of which he is a member, made an assignment
to F. G. StoveBin, to-day.
st. Paul & Omaha sold 81, 100, 600 of Its per
cent. consols to H. B, Hollins & Co., the highest
bidders. The company was authorized to sell
the bonds.
Gold shipment to Europe tomorrow, bars and
coin, $1,000, 900.
Transactions aggregated 465, 900 shares, and in
Guided 1000 Canada Southern; 5000 Central Pa
cifc; 174OO0 Delaware, Lackawanna & Western:
40 600 Lake Shore; q, 600 Louisville & Nashville
1000 Missouri Pacific; $4,000 Northwestern;
$4,000 Reading; 10000 Milwaukee & st. Paul;
$1,000 Union Pacific, II, 600 Western Union; a.,
600, Northern Pacific, and 5000 Oregon &
TTanscontnental.