The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-25
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.


Better Prices In London Cause Increased Ac-
tivity In New York.
NEW York, Feb 24.-Money in better request
at Ia3 per cent; offered at the close at 2 per
cent
Prime mercantile paper, 4a5 per cent.
Sterling exchange duh and heavy; 60 days,
81 834; sight, $4s6t.
Governments quiet and strong, with an ad-
vance of per cent in tho 4 per cents; other
quotations unchanged.
State securities active and generally higher;
North Carolina special tax bonds sold as high
as "a.
It was known before the opening of the Stock
Exchange this morning, which occurred one
hour later than usual On account of yesterday
being holiday, that there had been material
advance in American securities on the London
market since Saturday, and this was
small sized boom, which took place
this forenoon. In the more active stocks on the
list, the first prices were generally to II per
cent. higher than they closed last night and
Lackawsna again led in the upward movement
by advancing quickly to lO3; it closed Saturday
st 1907 and opened this morning per cent
higher The other gains during the forenoon
were "a for Delaware & Hudson, at 81; Il for
St Paul, at TAI, and the same for Pacific Mail.
at 568; IL for Central Pacific. at 35s IL for
Northwestern, at 95a; each for New York Cen
trail, at 95s, Missouri Pacific. at 954, and Louis
vile & Nashville, at 29s while Lake Shore and
Western Union rose each IL per cent, to GIL and
60S respectively These were the most active
stocks on the list in the first hour Other stocks
made smaller advances Some idea of the activ
ity of the market during the first hour
may be obtained from the statement the total
sales reported for that time amounted to over
40, 600 shares, and in an extremely active mar
ket complete report of thetransactions is never
made After midday the excitement that
companied early dealings somewhat subsidized,
prices declined fractional amounts, and the
afternoon passed without the development of
any further important changes, although at
about P. NJ quotations shade higher than
those reached in the forenoon were made for sew
eral of the most active stocks, including Lake
Shore Northwestern ST. Paul and Central Pa
ciRc This was followed by another moderate
reaction, and then higher prices again at the
close, the market finally closing strong at . to %
per cent. above Saturday last
In point Of activity, the railroad bond market
sympathized with livestock market, but the deal
mgs of the former were widely distributed and
no one issue was particularly active. Prices
continue to show advances Ohio Central frsts
are up q per cent, at 60, while incomes are
per cent. lower, at A.; Chesapeake q Ohio, first
series Fights. gained per cent. at rs, and cur
rency SKIES !; Erie sevens gold, are also per
cent. higher at III, and the seconds, new. are
up II, at 57a, after selling as low, at ST.; West
Shore firsts unchanged at 365, after opening at
379. Nickel-plate frsts were only higher, at
90, but there is a gain of 81 per cent. in Toledo
& Wabash consolidated convertibles. at 49, and
2 per cent in Colorado Coal and Iron skies, at
10 Milwaukee Lake Shore & Western frsts are
unchanged at 102, and Michigan division frsts
are II per cent higher, at SO; Texas & Pacific.
Rio Grande division bonds, coupon off, closed at
-, Of I oYadf har oxxyac an al
advance in Richmond & Danville debentures, at
GIL; Chicago, Burlington & Quincy debentures
are up !, at 993, and Northwestern sinking fund
debentures fves, are lower.
TRANSACTIONS. 322, 600 shares, to-wit: 5000
Lackawanna, 10000 Lake Shore, 80, 600 North
western. 81 600 New York Central $4,000 ST.
Paul. 10000 Union Pacific, and $4,000 Western
Union. t.9EA*7-