The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-10
TIE CONDITION or TRADE.
The New York Stock Market Strong and
Active Throughout the Day.
The Grain Markets on the UPGRADE Wheat
Ruling Strong and Closing at Nearly
the Outside Quotations.
MONEY AND STOCKS.


Honey Easy in New YorI-Tl,e Stock Market
Strong and Active.
NEW YORK, May 9.-Money on call was easy
Mt per cent
Prime mercantile paper40 5per cent.
Foreign exchange unchanged
governments we're strong, quotations showing
m advance of per cent for the United States,
and per cent for the currency SKIES
State bonds have been more active for some
time past, especially for some Of the Tennessee
issues, and prices are strong.
Railroad bonds have been very active, with a
large business in Erie seconds tnew) and West
Shore irsts, and good business in other issues.
Prices are generally strong.
The stock market opened strong this morning
for almost everything except New York Central,
which was heavy, and during the forenoon de-
Eeloped no other feature than that an active
market, with steady buying by both bulls and
bears, the latter covering their shorts, while
there was a fair amount of business done for the
long accounts After midday prices became
more quiet and weak. In some cases, the lowest
quotations of the day were reached, but this was
followed by rally during the last hour, which
continued until the close of the board, the.
market finally closing steady at the advances
made, and generally within small fraction Of
highest prices reached. The interest Of the
street was conferred in the news from
Chicago regarding the meeting of the railroad
officials in session there to-day, and the
final rally was made after it had
been announced that the settlement of every
thing in the West and Northwest was complete,
and that rates would probably be restored on
Monday, the plan adoped being satisfactory to
all roads The continued repetition of the state.
menr that Mr.. Vanderbilt was acting with some
leading bears IN depressing prices, and that he
was heavy seller of short stock led to his
authorizing the publication OF statement in
which he says: There is not a word OF truth in
the stories that am operating with Mr.. Cam
mack. / am not Interested in any way
either with him or any body else,
not sold share of Central since I
sold $50, 600 shares 60 the syndicate in November,
1879. have not sold share of Lake Shore
directly or Indirectly. for months. Do you
think would sell Lake Shore at these prices2'
The statement of the New York Central for
the quarter ending March 81, to be submitted to
the Railroad Commissioner, it is announced.
will show a decrease in the gross earnings of
$3.50, 600, decrease in the net earnings of $780,
Qeuc16GCY, l.
dividend, of 1920, 600. Also that the statement
will show that only a little over of the per
cent. was earned on the stock for the first quar-
ter of the current fiscal year.
The result of the days operation on the Stock
Exchange is a net advance of to II per cent
for the active stocks, the greatest gains being
made by Northwestern and Michigan Central,
but New York Central, Lake Shore, Pacific
Mail and Lackawanna are each up B. st. Paul
and Delaware & Hudson each I, and Western
Union J.
The total sales were 228, 78f shares, but of this
about % per cent. consisted of Northwestern,
and 150, 600 shares of that stock, ST. Paul, Union
Pacific and Lackawanna. One half of today's
business was done during the forenoon. Northwest
opened at 9333 sold at 94s, touched 93s just be-
fore O'clock. and then to 95a, and closed at
IS. st. Paul sold first at &c. dropped to 68s and
rallied to 69s before midday, sold in the af
ternoon down to 6Sa and rallied to 69l,
trail opened at S6s, sold as low as 500 early
in the day. its lowest price, and then at 81 in
the forenoon broke to S6s later, and in the
final rally reached s7s, but closed at
dnring the forenoon, fell to SO about O'Clock,
and in the last hour rose to 81, dosing at 53s.
About the only weak stock on the list in which
there was any trading of Importance, was Cen
trial, of New Jersey, which is downs, at &c. after
selling as low as 352 Notwithstanding the de-
cided rally during the past two days, almost
everything on the active list is lower this even
ing than it was week ago. the exceptions
being Northwestern. which is unchanged,
and Union Pacific which shows an advance of
per cent. Among the inactive stocks Chicago,
Burlington q Quincy also shows gain of II,
and Manhattan Consolidated Ii. The greatest
declines are in Lake Shore A. New York Cen
tral. q; Michigan Central, q; Lackawanna, II,
and other stocks for less than per cent.
The total sales for the week were I609, Off,
or more than double the previous weeks bust.
ness, but of this weeks transactions Northwest
ern St Paul. Lake Shore, Lakawanna, New
York Central and Union Pacific contributed l.
200 900 shares
The railway bond market has been unusually
active, the total sales amounting to So 101 000.
but of this sum Erie seconds. new, contributed
over 81, 000, 900, and West Shore $40, 600. Prices
are generally higher this evening than the last
previous quotations.
The transactions on the Stock Exchange were
229, 600 shares: Delaware, Lackawanna & West
ern, q, 600, Lake Shore, $1,000, Northwestern,
1000, New York Central, 1900, ST. Paul,
$4,000, Union Pacific. 900.
The market closed with the following prices
bid:
United Rs States ss Louisville Nashville os
United states new fs-i22 E. a: C;...-.-..... ~
e esstrs Pss e
Erie seconds...-...... IS Mem. g. charleston. SO
Lehigh W'kbe..... 90 Michigan Central....... IS
kGgssqs Mimi ST E0q prsd ~
St. Joe..............ll6 Missouri Pacific..... 95s
st. X. ~ q. q. HFStS.. lIit4 mobile q
Tennessee Is, old. 45Af Morris Essex.. 1927
Tennessee 6s, $685.. 45s8 Nashville Chat.... 81
Texas Pac. I'd grants 334 New Jersey Central So
a. p. Rio Grante 52S Norfolk w. pref -. 17ts
Union Pacific rsts...li5 Northern Pacfc.-.. l716
u. p. land grants 1855 NortherR Pac pref'd. 3ss
u. p sinking fund. 1852 Chic. Northwestern. 95
Virginia 6s............ 80 &c. ". w. pref'd 1856
WAGON .ex-nat. 493 New York Centrai... S7ss
Virginia deferred AZ Ohio Central. ...... q
Adams Express...-..l35 Ohio & Mississippi.... llM
Allegheny Cenfral..... Ohio Mics. pref d.. SO
Alton & Terre Haute. l818 Ontario q Western . tx
Ala T.. H.pref' d..... so 0regon Navigation....
American Express.... IS l0regon Transcon'I.. l3A