The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-03
AND COMMERCIAL
MONEY AND STOCKS.

The New York Market Opens Dull and Heavy,
but Rallies in the Afternoon.
New YORK, March 2-Money, easy at 1 az per
cent; offered at the close at II per cent.
Prime mercantile paper, 4d5 per cent.
Sterling exchange quiet; sixty days, 81 S3!!;
sight, $4s6
Government bonds dull, firm and unchanged
State bonds quiet and steady.
AT the opening this morning the stock market
was dull and heavy Prices for active shares
showing, in most cases, decline, compared with
Saturday afternoons closing quotations, of to
& After further decline of small frac-
tons, the market rallied, and at the same
time became more active, but by mid
day resumed duh, heavy tone,
which continued until after p. M.
During the last hour, previous losses were re-
gained. in most cases, and the closing prices this
evening generally show slight advances, com
pared with last week. Parties who, until re-
Gently. have been recognized for long time past
as leaders of the "bull7 operations. appear to
have lost confidence in present prices, and say it
is folly TO try to maintain prices at present quo
tatIons that the manlpulators who, until
recently were leaders of the bear movement.
are driving all traders away from the street.
Active operators on the f'bulr side claim, on the
other hand that the old 'bull' following
is seeking TO depress business only for
the purpose of loading up again for another ad
vance. Ii is between these two con:ending forces
that the market has grown listless, with gen
eral tendency downward. There was compare
lively large trading in Northwestern to-day,
which, after opening shade lower at 94s, and
selling early at 94a seller three days, in the
forenoon to 95s declined again at 2 o'clock to
94k, and in the last hour sold at 95k, gain of g.
ST. Paul was less active, but shows an advance
of 1, at 72S, after touching III in the morning
H. -,
Lackawanna, but the stock continues to show
much strength. and in the afternoon the price
rose to 103s and closed at 1893, gain
of IL. The last sale before the close
was made at 1907 seller sixty days. The
other coal stocks attracted little attention and
show very slight changes Union Pacific was
weak in the forenoon, declining to 46s, butin the
final rally rose to 47s and closed at that prce--a
net loss OF + The other so-caed Gould stocks
were dull, and Western Union and Manhattan
consolidated showed no change in the closing
prices There was increased trading however,
in Kansas & Texas. which rose in the afternoon
to 1Ss and closed at l84-a gain Of 2 and Mis-
souri, Pacific was higher. at 91k. The Wander
were weak all day, the latter opening at
64a and selling almost Immediately at GAG.
The price then rose to 65s, broke in
the afternoon to 63s, and in the final rally ad
vanced to GAG, and closed at Sta loss of ).
New York Central down !, at 935, after fuctu-
ating between 94s and 93s. Among the active
stocks, Rock Island gained per cent, at 1l3,
and Omahas were each up ], common to &c. and
preferred to S63. Pacific Mail was active in the
afternoon and rose to ST. but fell later, to $50,
and closed at 56b. The total Of the sales was
only 211 6S4 shares, decrease from Saturdays
business of over 81. 400 shares.
The railroad bond market has been less active
than usual, and prices were irregular. Specula
tive interest in Erie seconds, new subsidized, for
the day at least, when it became known that the
company were redeeming the coupons due the
first of this month, and amounting to nearly
600. The bonds sold this morning at SCI, fell
later to 56s, and rallied. closing at 57-a decline
from Saturday of per cent
Transactions, 212, 600 shares, to-wit: $1,000
Lackawanna, 900 Lake Shore, 10000 Louis
vile e Nashville, $4,000 Northwestern, IA, 900
New York Central, $4,000 St Paul, II, 600 Union
Pacific.