The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-27
AND COMMERCIAL
MONEY AND STOCKS.
The New York Market in the Hands of the
Manipulators.

The New York Market in the Hands of the
Manipulators.
New YORK, March 26--Money, ala per cent;
offered at the close at l per cent
Prime mercantile paper 405 per cent.
Sterling exchange strong; sixty days. 81 84a;
sight, 81 s62.
Governments strong, quiet and higher for
fOurs and four and a-halfs; higher for threes.
The railroad bond market was fairly active.
with large sales of West Shore frsts, and Nickel
plate frsts and fair trading for small amounts
in many other issues Prices were IRREGULAR.
The total sales were ST. SOC, 600, an increase over
yesterday of $262 900, but of to-day's business
Lake Shore monopolized 1921, 900, Nickelplate
firsts $206 000 and Erie seconds, new, $45, coo,
leaving 1928, geo for the remainder.
State securities were dull but steady.
The stock market was feverish and
somewhat more active to-day, yielding
readily to the influence of the European
war rumors. There is q growing i'm
preston that many of the rumors circulated
on W all street regarding the trouble between
England and Russia never issue out of the fash
Of the cables. but are manufactured within con-
venient distance of the Stock Exchange. This
was manifestly the yesterday, ard it is
claimed will prove true of to-day's rumors.
Meanwhile, what is known az the milking pro
cess is being applied TO tie market vigorously.
and prices go down and up again i or
per cent, very much to suit the wishes Of the
manipuiators. Whether, in the end, they will be
gamers or losers by the process is another ques-
ton Conservative financers insist that the first
effect of actual war between England and Rus
STA would be TO bring stocks and other securities
from abroad to this country, to be sold here,
insteadof its being bull" argument, as it has
been used for the past two days. Leading com
mission houses complain of very dull business
from outside operators, thus confirming the i'm
preston that alarge percentage of the purchases
and sales as reported from day to day, are for
account of manipuators. Such manipulation
always results in driving legitimate operators
away from the market, and fears are expressed
tinued much longer they will be followed
by an extremely dull stock market, which is
such terror TO brokers, who depend upon com
missions for living. In the early dealings this
morning prices We're strong, but the market was
quiet After az advance of 40s per cent,
which took place early in. the day, reports of a
peaceable character from Europe led to de-
cided break in prices, but business in the fore
noon was light After midday there was re-
newal of runors regarding European difficulties
including one that the reserves aud the militia
had been called out by the British
government, and this was followed by increased
activity and an advance in prices. the upward
movement being pretty well maintained IN most
cases, until the close of the board The market
closed strong at about the best prices for most
Of the list.
A statement comes from inside sources that
early steps will be taken to place New Jersey
Central in the hands of receiver.
Transactions, 2S5, 900 shares, to-wit: Lacka-
wanna II, 900, Lake Shore 10, GOO. New York
Central q. GOO. Northwestern 81, 000 New Jersey
Central 10 000 Pacific Mail SO, 600, St Paul 100,-
poo, Union Pacific q, ,IVesternUnion 5000