The Indianapolis journal., 1885-02-21
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.

Increased Activity, and Decided Changes in
Prices in New York.
New YoRK, Feb 20.-Money, 102 per cent; (;
offered at the close at II per cent.
Prime mercantile paper, 406 per cent
Sterling exchange quiet; GO days, 81 63a; sight
$4s6s
Government bonds dull. but firm, at unchanged
prices.
State securities were firm on a limited busi-
ness.
AT the Stock Exchange, dealers reported good
outside demand. The renewed activity in to-
days stock market was accompanied by very de-
cided changes in the course of prices The
market was steady at the opening, and the early
dealings gave indications of disposition to
hesitate during which prices fell of slightly
This was quickly followed, however by an in
fusion of new life and strength. Before the
end of the first hour. Lackawanna sold
above par, a point it had not reached
since Dec. IL 1884, and nearly everything else
ON the list was from to per cent. above the
opening quotations 1t was at this time that
che highest prices of the day, with few excep-
tions, were made: although the market contln-
ued fairly active, and was fractionally lower by
midday, and for most stocks continued about
steady until nearly o'clock when an active
selling movement set in, which continued until
the close Of the board, and which carried stocks
down to the lowest points of the day, and from
to II lower than the close last evening The
feature of the market was the trading in Lake
Shore and Lackawanna 1t was asserted
early in the day, and the report widely
disseminated that a settlement between
New York Central and West Shore had so
nearly been made that rates. both freight and
passenger would be fully restored in the next
forty-eight hours The report was kept alive in
various forms until late in the afternoon, not
withstanding that West Shore officials discaimed
all knowledge of anything upon which to base
the statements made. Lake Shore proved an
exception to the general rule of the market by
touching its highest price just after o'clock,
when it was sold at g. The only other active
stock that was exceptionally strong at
this time was Lackawanna, which, after
selling in the afternoon at 1903, de-
cliDed rapidly to 994 before o'clock,
vaneed from that price to 1909 at the beginning
Of the last hour. Its course was, thereafter,
steady, and the stock closed, on slight rally at
99a, net advance for the day of only per cent.
The leading manipulators of this stock conf
IDENTIFY predict further advance for IL Of 100 15
per cent In the near future. In final trade Lake
Shore also fell I, and closed at 659, loss from
yesterday of per cent New York Central ex-
perienced still heavier decline selling down to
93s. aud closing at 93s, a loss of l..
The total sales amounted to 332, 232 shares, a
gain over yesterday of nearly $4,000 shares, of
which LackaWanna and Lake Shore contributed
a total Of over 48 per cent
There was a good business done in railroad
bonds, and prices were higher with few ex-
eeptions. Leading brokers report steady in
crease in investment orders for this class of
securities, with few bonds Offering. Erie new
and West Shore frstS were traded in on specula
tive account. and are each lower, the former
at Sc, after opening at 81 and the latter at 363,
after selling at 37a. Alton & Terre Haute
division bonds are up 2per cent, at 81, and st.
Louis, Kansas City & Northern, Omaha di
vision. frsts, II, at 1917.
Transactions, $4,000 shares to-wit: 67,000
Lackawanna LOCO Lake Shore, $4,000 North
western, 10000 New York Central. As. 900 ST.
Paul, $4,000 Union Pacific 1900 Western
Union.