The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-13
FINANCIALAND COMMERCIAL
MONEY AND STOCKS.

New York Operators Engaged In Setting a
Trap for Outsiders.
New YORK, March 12.-Money at l II per
cent. offered at the close at per cent
Prime mercantile paper, 4a5 per cent
Sterling exchange dull AID quiet sixty days,
sLs3!; sight, S4s6.
Governments dull, quiet and unchanged
State securities were quiet and steady, some
issues were shade higher
The railroad bond market was again active
and generally higher, the business being well
distributed. AS indicating the demand for this
class of securities, portion of what is known as
the Hallgarten loan, Baltimore & Ohio per
cent forty-year gold bonds, was offered this
morning at l01i, and the whole amount was
taken almost Immediately, the bonds selling
briskly, later, at per cent. advance on the sub
scription price
The stock market was comparatively quiet
Spectators show disposition to wait for fur
Their developments. The belief is growing that
the market should have a reaction before making
any further material advance, and there is also
a disposition to wait for more definite news from
Europe in regard to the troubles between Great
Britain and Russia The war news in Wall street
ators who yesterday talked confidently of de-
Cided boom in the stock market are to-day aGvo-
Gates Of moderate reaction, which, they say,
win tempt outsiders who never trade in stocks
except when they buy, and will also induce the
leading "bears" to increase their lines
of shorts. At the opening of the board
this morning stocks were somewhat irreg-
ular, but the majority of the active
list showed declines of to per cent, and dur
ing the morning there were further fractional
Declines when, in many cases, the lowest prices
of the day were made. After a slight rally the
market became steady and so continued until
publication Of report which credited President
Keep, of the Northwestern Railway Company,
with the statement that the next Omaha divi
dehd would not be paid. This followed by
break in Omaha preferred, on comparatively
active trading, to 81, against 87s at the close
yesterday, while common declined Il, to 20
The greatest sympathy with this downward
movement was shown in the grangers
especially St Paul Later, came statement
that nothing yet had been determined in regard
TO the Omaha dividend a denial of the original
story being made by both Mr. Keep and Mr.
Sykes vice-president of the Northwestern Com
pany, upon which Omaha preferred rallied to
S63, and there was slight recovery in the other
stocks followed by renewed weakness, especial
ly in St. Paul, which sold down to 73s against
75s last evening: There was q renewal of re-
ports, claiming to come from semi official
sources, that the next dividend by this company
would DO either cut down materially or passed en-
HEcly INOFJHWeSb IilpdtilZSu Will the Dfetth HI
St Paul and declined per cent to 94ss, and the
whole list 0inally closed weak and generally
within very small fractions of the lowest prices
of the day, and from one-fourth to per cent.
lower than the final quotations last evening In
the afternoon an attack made upon Mis-
souri,, Kansas 81 Texas Pacific, which dropped
from 49, TO, and remained steady near to II the
rest of the day, and closing with advance of !,
to III. 1t comes from semi official source that
there is some talk of Missouri Pacific issuing
common stock making the present Missouri
Pacific stock preferred, and absorbing Missouri,
Kansas & Texas by giving one share
of Missouri Pacific for three shares of Missouri,
Kansas & Texas. 1t is thought this plan will
meet with the approval of the Missouri, Kansas
g Texas stockholders, and quiet the opposition
to the present management The only active
stock showing an advance is Pacific Mail, which
is higher, at 62s, after selling between 61s and
62a
Transactions. $4,000 shares. to wit: $4,000
Lackawanna, 10000 Kansas & Texas 10000
Lake Shore, $4,000 Northwestern $4,000 New
York Central, SO, 900 st. Paul. 1900 Western
Union.