The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-04
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.
The New York Market Very Dull and the
Fluctuations Small.

The New York Market Very Dull and the
Fluctuations Small.
NEW YORK. March 3.-Money, easy at il per
cent
Prime mercantile paper 4a5 per cent
Sterling exchange dull; sixty days, "a. So;
sight, $4s6.
Governments quiet and unchanged, except the
three per cents, which are lower, at 101 bid.
State securities quiet and steady.
The stock market was extremely dull on slight
fluctuations traders showing no disposition to
speculateo on either side The fluctuations conse
quently were within narrow limits, as is shown by
the fact that from the opening of the board until
nearly o'clock Lackawanna sold at 1o3s a l04
Pacific Mail at 56s a 55s, Lake Shore at GA a 63a
New York Central at 93s 0934, Northwestern
at 95Iaa5s, ST. Paul 72s @7244, Kansas & Texas
at 18s11S9 and L. 81 N. at 81 a la.
These were among the most active stocks on the
list during the day. A feature in late afternoon
operations was the trading in Northwestern. A
dispatch from Chicago was circulated on the
street, announcing that the earnings Of the com
pany for the fourth week of February showed an
increase of 1861. Goo Following this announce
ment the stock rose to 964, on heavy transac-
tons Lackawanna followed by selling at 104a
and Lake Shore touched 64s, while the rest Of
the active list made only slight advances. Later
in the afternoon second Chicago dispatch was
given out correcting the first one by statement
that the earnings showed a decrease of
SCI 900 for the fourth week, and much
larger amount for the month of February. The
whole market became weak, and Northwestern,
on the continued activity, steadily sold down.
ward until it reached 95s, and closed at that
price, with sales in the last hour of over % GOO
shares, more than 40 per cent. Of the business
done during the day in that stock at the Office
Of the company in this city, Vice-president
Sykes says he has not yet received complete re-
ports for the last week Of February and does
not know what they will be. Among the
rumors afoat in the afternoon was one to the
effect that the next dividend on New
York Central would be reduced to l per
cent, and the stock of that company fell
to, and closed at 49,, loss of ). Next to North
western, Missouri, Kansas q Texas has
attracted most attention, the total sales
for the day amounting to over SO, 600 shares, in
stead of only few hundred shares, as was usu-
ally the case until recently. At the same time
The price rose to los and closed finally, I'M
changed at 49,. Prominent houses report buy
Ing of this stock for both foreign and domestic
account Ii the last half hour Lackawanna fell
from l044 to 1893, and closed weak at that price,
with sales of only 10, 600 shares for the day. On
much restricted business St. Paul was down 3, at
~, but the stock was almost neglected in the af
ternoon. Pacific Mail sold as high as 81 early in
the last hour, but declined to 56s, the final
sale, however, being made at 56l an advance
Of /. New Jersey Central was also higher, at
49,, on sales OF less than ], 200 shares, and Oma
ha preferred shows gain of :, at lSs on light
dealings. Missouri Pacific is lower, at 90s,
and the other more active stocks show small de-
slines compared with last evening. The market
closed weak.
The bond market was rather quiet, except for
Erie seconds. new, the trading in which amount
ed to $422, 600, or nearly one third the days bust
ness. These bonds opened at 56s and sold down
to 500 in the forenoon; in the afternoon they
were entirely neglected until near
the close. when there were sales of
$4,000 worth at 569 csc, closing
at the latter price. There was only limited
trading in other issues, and prices generally
show only fractional changes. New Jersey Cen
trail frsts, coupons off, were, however, per cent
higher, at ILL., and there equal advance
in Oregon improvement Company frsts, at so;
Atchison, Colorado 81 Pacific irsts rose Il, to 91s,
and Mobile g. Ohio firsts up 81, at 1867. Erie
seveps consolidated gold sold at 114 Kansas Pacif
c frsts 1896 at no. Transactions, 212 900 shares,
to-wt: 20. 600 Lackawanna 80, GOO Kansas & Tex
as % 900 Lake Shore 10, 600 Louisville & Nash
Vile, $4,000 Northwestern, $1,000 New York
Central, 13, 600 St Paul.