The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-06-27
AND COMMERCIAL
MONEY AND SECURITIES.

The New York Market Irregular and Cen
orally Weaker.
New YORK, June 26-Money easy at 3 "a per
cent
Prime mercantile paper, sac per cent
Sterling exchange nominal; sixty days, 81. Sls;
sight, $4.S33.
Governments lower for the four-and- a-halfs
registered and three per-cents.
Railways weak and lower; Erie new seconds
were especially weak and broke to 49, sales,
said to be for London account,
In State securities, Alabamas, class A, sold at
III
The stock market this morning was irregular
but in the main weak. Lake Shore and Chicago
Burlington & Quincy were particularly
heavy declining II to II per cent, to 70 and 1881
respectively. The decline in other shares was
less than per cent. Oregon & Transcontinent
al was an exception, and rose Il per cent, to 81.
Before the first call there an advance Of TO
II per cent, Northwestern being the most prom
inent, rising to So. At II a. NJ. Northern Pa
ci6c preferred was laided down to 80 and Oregon
& Transcontinental to s., on unfavorable
Fumors, and this unsettled speculation once
more. Later in the day the failure Of Stout
e. Co. was announced and the market
was further depressed, Canada Southern and
Michigan Central were subjected to severe raids,
the former breaking to 25 and the latter to 5S4
some long stock coming out on the way down.
Western Union was unfaVorably affected by
reports that the dividend had been enjolned,
but when the report officially denied. the
stock rose to 58s and turned the market. Lack
awanna also strong selling up to 1919 on
purchases to cover shorts" In the last half
hour of business, the attacks on Northern Pa
cihe preferred We're renewed and the stock was
forced down to 81. A few of the active stocks
touched the lowest point of the day in sympa-
thy, and the whole market with the exception
of Laekawanna and Missouri Pacific, was
weak Northern Pacific was raided on rurnors
that the company would have to Dor
row money to meet its July in
terest but. this was subsequently, denied
bv the company's fiscal agent Compared with
last night the closing prices are Al per cent
lever for Canada Southern, q for Quincy, Is for
st. Paul, II for Northwestern, Is for louisville
& Nashville, q For Lake Shore, 5s for Mishigan
Central 81 for Omaha. II for Wabash, q for
preferred, and ] to per cent. for the remainder
of the list Oregon Il Transcontinental is {,
Lackawanna Z, and Missouri Pacific I per cent.
higher. Cleveland, Columbus, Cincinnati &
Indianapolis dropped 3 per cent, to 292; Illinois
Central %, to 1104; New York, Chicago & St
Louis a. to 81; do preferred il, to 10; Erie pre-
ferred l. to 81; West Point Terminal l, to 10;
Manitoba b. to So and San Francisco first pre-
ferred l, to 70, Manhattan fell of per cent, to
So and rallied to 50 bid; Houston & Texas
sold at 30. the last previously reported
sale having been at 40. Among the prominent
shares, Lackawanna commanded per cent. for
use, New York Central {, and the remainder of
the list 1872 9Il6 Seller co. options were put
out in the New York Central at 92a a o. when
prices in the regular way were 96d So; in Ill
inois Central 109 when the price in the regular
way was 111a; in Manitoba at 76, when reg
ular was S2l; and in Northern Pacific at TO- when
regular was 163 There was a difference of ] a
per cent between cash and regular in Western
Union Union Pacific, Oregon & Transcontinental,
hour few hundred shares of Lackawanna were
bought in at los 0107S for nen-delivery.
Transactions AIS, 600 shares. to-wit: Central
Pacific 1000; Lackawanna, Is 600; Erie II, 900;
Lake Shore, 81 ,000 Louisville & Nashville g. 900;
Missouri Pacific, 6000: Northwestern. $4,000;
New York Central, 1900; Northern Pacific,
60, 600; St. Paul 5000; Union Pacific, 33, 00e;
Western Union, 40, 600; Oregon & Transcend
mental, ID 000