The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-15
FINANCIAL AND COMMERCIAL.
The New York Market Continues Weak and
Lower Prices Prevail.

The New York Market Continues Weak and
Lower Prices Prevail.
New York, Feb. l4-Money, 102 per cent;
offered at the close at ! per cent.
Prime mercantile paper, 405 per cent.
Sterling exchange quiet; 60 days. 81 1871; sight,
g. 66a.
Governments dull, but firm.
State securities quiet and strong.
The stock market was again weak and lower,
the decline being led by Western Union. Some
of the prominent operators on the "buH' side
throughout the recent advance were large sellers
of Western Union and Union Pacific to-day, es-
pecially the former, and they made no effort to
conceal tie fact 1t was very positively asserted
that the bears in Western Union had made q
private settlement at about 63, and the opinion
has therefore prevailed that the present break
was made to enable the ''bulls" to buy stocks
again at lower prices. The downward
course Of prices was checked before 2
o'clock, and in the last hour the market
rallied q fraction, and in most cases closed strong
at the advance. All the active stocks were
lower, however. than they closed yesterday. At
the opening the highest prices were obtained,
and on large transactions Western Union quickly
sold down to 585, rallied to 594, and by noon sold
at 5ot. There was a sale IL the afternoon at 57s,
u Will GucSe 0AC0pCOuS Inc price OlO not 20
below SO nor again above 5S4, and it closed weak
at 5S4-a decline of Is per cent. on total sales
of 66, 442 shares. During the afternoon, Union
Pacific was pressed for sale until it touched 489,
but during the general rally it rose to 49,, a met de-
cline of per cent. Lackawanna was active
and steady between 95s and 96s until after mid
day. when 1t declined to 954, but rallied
in the last hour and closed strong at
SO, a decline of ] per cent with transactions ag-
gregating $4,000 shares. Delaware & Hudson
was notably weak, selling Town from TAI to 72ss,
and closing Il per cent. lower than yesterday, at
T34. Jersey Central was dull but strong. and
closed ] per cent. higher, at 1863. Northwestern
was weak, declining from 93s to 90, from which
it rallied to 92s at the close-a loss of : per cent.
on sales of "a, $50 shares. ST. Panl was traded
in to the extent of 26, 1875 shares, fluctuatine be-
tween 70 and 72, and closing at 72aa. New York
Central and Lake Shore were comparatively
firm, and closed at the same fg-
ures as last evening, 915 for the
former, after selling from 80 down
to 81, while Lake Shore advanced early to 63ss,
yielded to 62aa, and sold finally at G3aa. The total
business Of the day amounted to BOG, 573 shares,
which is 28. 900 shares greater than Friday. Over
As per cent. of to-day's trading was in Western
Union and Laekawanna- Comparing prices
this evening with one week ago, there is a de-
cline of from l to 81 per cent. in a majority of
the most active stocks; but Lackawanna is an
exception, closing ! per cent. higher to-day. and
Lake Shore at an equal advance.
Transactions. 307, 900 shares, to-wit: 70, 900
Lackawanna, 1000 Lake Shore, 80, 900 North
western, II, 900 New York Central. 46, 900 ST.
Paul, $4,000 Union Pacific, 66, 900 Western
Union.