The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-05-18

NEW IOAks May l6.-xoney-On call easy at
per cent.
Prime Mercantile Psper-@5 per cent.
Foreign Exchange @ siet and unchanged.
The total sales of stocks to-day were 1885
shares. including Delaware. Lackawanna AMI
Western. 81 AGO Lake Shore. 7,soO: Louisville ana
Nashville. 1900; North western, 2.26o: New YORK
Central, Is. 275: Pacific Mail 1900 st. Paul, l0se):
Union Pacific, 81, COO; Western Union, 1900.
In Government bonds there was an ad-
vance of y per cent in quotations for the A. AMI
"a coupon per cents, in the currency 6s, aud
a deciire OF a In the IS. There sales OF thu
IS st 1884, ana the registered AZ per cents. a.
u.s.
State Securities have shown renewed
activity and quotations were generally
higher..with tsles.of Louisiana consos, exmaturei
coupons. at 659651z; North Carolina tax at 5. and
Alabama class G. at IS.
The stock market has not been active to-day,
but 1t has exhibited strong undertone for nearly
everything except the Vsnderbilts which were
weak The Gould stocks Louisville and Nash
vile aud Long Island are the most prominent for
the inherent strength developed. A published in
teryiew with Mr.. Vanderbilt in which he admit.
ted indirectly that he had been a heavy seller of
his speculative holdings of New York Central
and Lake Shore. and in which he stated that
ne had been very much disappointed as
to the prospect of future dividends by those com
panies: also, declaring that he could not tell
when the outlook would be better, had depress-
ing effect upon New York Central and upon Lake
legally TO stop the heavy cutting OF rates that is
being INDUCED In by trunk lines on the northern
point shortly alter the opening. from which It de-
clined per cent, and closed with loss OF q per
cent and Lake Shore on fluctuations ;.. Of only
views as to the cause OF the present and prospec-
tive strength of the market the general sentiment
most of the list especially the Gould stocks. The
more confident bulls declare that the market has
only started on an upward movement that will
carry quotations very much higher in the near
future. They declare that Manhattan their
first stock to advance; that Union Pacific, Western
sas and Texas are to follow in the order named.
They claim the short interest Is still very large,
and that In fact 1t was increased during the past
week. The bears ale fighting the advance by sell
ing each per cent. advance. An address to the
Directors OF the Union Pacific is being circulated
for signatures, in which 1t is stated that
expired portion OF tSS5 the stockholders
have been deprived OF their dividends that the
liquidation of the compeRy's floating debt might
go unchecked, and says that amounts from the
net earnings have been applied 10 this object.
amount which can easily be handled, and i'm
p0ftant questions at issue with the Government
feel justified in requesting the board to take
measures to clear of the remaining floating debt,
they may again receive the net earnings which
legitima;ely belong to them. 1t is urged that
these measures be carried out at an early day,
In view of the ability of the company to place
its stocks more on a dividend basis IL
having been clearly proven that the road could
earn 9 per cent. on It's capital during period OF
Unprecedented depression in railway traffic. 1t is
confidently claimed that enough bonds now be
longing to the onion Pacific can be sold before
July to pay off the floating debt The course of
day, resulting in an advance of "a per cent.
Louisville and Nashville is also l5s per cent
shares, shows q gain OF %s per cent. The other
advances for fractional amounts. Consoli-
dated Gas IL Ia per cent. lower. The Louisville
and Nashville officials make the following s'ate'
ment:- 1.-THE rece mt decision OF the United States
Supreme Court, in the Tennessee bond cases, re-
leased to the Louisville and Nashville Company
SsC0,COo worth of Henderson Division bonds.
which have been locked up under an option since
Thefdelivery of these eco bonds by the com
pany reduced the loans of tue Louisville and
Nashville Company outstanding to $4,000 In
the directors have thought advisable to recover
portion of last years 10 40 bonds, and have com
ple,ed negotiations for return to the comp1nys
terminated till October next
The total sales to- day were nearly 200 600 shares,
but of this amount Union Pacific contributed 67.-
OOo shares. The total sales for the week have
been 1916. las shares, decrease from last week OF
1s5 OCO shares but of this weeks business over 81
per cent. consisted OF sales of Lackawanna, ST.
Paul, Onion Pacific. New York Gen tral North
western and Lake Shore in the order named.
compared with last Saturdays are an advance of
SIS in Union Pacific. 35s in Louisville aud Nash
vile, % in Manhattan Consol. and 1ss in Consol-
idated Gas. New York Central is down 8. Lake
Shore Ia, Lackawanna y and Delaware and
Hudson pa. The Changers SHOW only slight
changes.
The railroad bond market has been unusually
active, and the business has been remarkably well
distributed. There some activity in Erie
opds, new, the Met. IL and Atlantic aud Pacific
issues. but not enough to monopolize to any ex
tent the business OF the day. Prices generally
higher this evening than at last previous calls.
Total sales for the day we're 81 $50 006, increase
yesterday OF s457, 000 The total sales for TIC
week were s. 400 COO, decrease from last week,
where Erie seconds and West Shore firsts were un-
usually active. of s., 221 500.
The market closed with the following prices bid: