The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-03-25
FINANCIAL AND COMMERCIAL
MONEY n STOCKS.
New York Financial Market.

AOAa
EEW YORK. March 2L-Money-Z dlZ per cent
Prime Mercantile Paper@95 per cent
B0nds- &c higher for "a per cents.
coupons unchanged
Railroad Bonds-Market outlet and irregular
for everything except Nickel Plate nrsls, the total
s4les of which ts6s1O0Ol were over half of the total
business IA all bonds traded in during the day.
They opened at IS. rose early 70 IS. broke in the
forenoon TO -. and rallied in the afternoon to
-. At which they closed. The break to-day was
aided By reports that steps would be taken to
place the company in the hands Of s Receiver.
West shore was also weak. declining from 81 to 50.
and closing with a loss Of e per cent. atss1s.
State Bonds-Quiet and steady.
The stock market was again irregular, active
and ieverisb. The street was well supplied with
rumors throughout the day. some of which, upon
Investigation. proved to have more or less founda-
ton il feet. First quotations we're irregular, but
the general market soon developed considerable
strength, and the best prices were generally made
in the first hour. Early trading was marked by
heavy sales Of Pacific Mail. IL is believed
that holders Of this stock are selling on each
rally, rumors industriOusly circulated the
past few DAYS to the effect that the differences be.
tween the Pacific Mail and Pacific railroads had
been practically settled appear 10 have no fouu-
dalton. In fact, the Pacific Mail officials Claim they
viii not eonsider the proposition, which does not
increase the subsidy, while the railroad officials
are equally as positive in their assertions that they
viii Lot pay as much as heretofore. It is claimed
by persons who are in a position 10 know that
the next dividend will probably not be paid. the
company keeping al Its money Tor the purpose OF
csrTying on he night With the railroads. After
midday the market became weak and later in the
afternoon was heavy. Inc selling OF st. Paul
following the announcement that the executive
commission mad failed TO meet to day TO recon-
mend what should DE done in regard 70 the de-
c aration of q dividend, aud stock declined on
the growing impression that The dividend would
viii be a meeting OF the directors to morrow,
when the question will be decided. jersey Cen
trail also developed great weakness on account OF
the troubles in which the company fuds itself by
the failure OF Reading 10 meet the pay
The strong stocks on the list have been North
western. Vanderbilt and Gould stocks. The last
mentioned, with the exception of Union Pacific,
has eeen very quiet. Mr.. Gould Is expected back
tomorrow, but friends say he will probably have
little TO do with the stock market at present.
Trading in ST. Paul aud Pacific Mail amounted to
1l5,CC0 shares, leaving less than Isl COO shares TO
the remainder of the list. The third most active
lost all its friends among the old bull party. A
good deal is heard on the street about the proba.
biities OF a thorough investigation by the Depart
ment at Washington and the probable discoveries
that will follow. A synopsis of the annual report
given out at the Boston meeting was made pIolie
here before the close OF the Board. Lackawanna
ia the only stock In the active list that shows a
q gain per cent.
Inc directors met this week and declares diyi-
dend. While IL is known some OF them favor a
reduction pending present troubles among rail.
roads, q majority of the board headed by the
fEtSlCeuts Is earnestly OppoSeu 10 any clAuke
aud it is generally believed by insiders that viii
be 2 per cent. for the quarter. Jersey Central
shows q net decline OF 21s per ceut. TAe strong
est stock on the list was New York Central.
Transactions on STOCK Exchange aggregated
295.0 o0 shares, of which 1T,O0J were LackRwanna.
1l,OCG Lake shore, $500 N~orthwester lat . Jer-
sey Central. 1900 New York Central, 5000 Pacific
Mail, 1900 st. Paul. $4,000 Union Pacific. Hoo
Western Union, and 1900 Northern Pacific pre-
feIred.
Mining StOcEs-Market moderately active; Bull.
wer sold at 46, Belfast II. B0die las. seller 10: n.
a4TgAaAr nrH a. CnnVnaN .f-, Oh FsnnGnH
dated California, and Virginia 40; Sultro Tunnel
140.