The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-20
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.

\ Revival of Business at New York, Accom-
panied by Lower Prices.
NEW York, March l9-Money abundant at
4a13 per cent; closing at per cent
Prime mercantile paper. 405 per cent.
Sterling exchange quiet; sixty days, 81 s3if;
light, $4.S6
Government bonds quiet with advance OF !
h three-percents and per cent In registered
SOur-and-one-halfs; others unchanged.
State securities firm on light Sales except
Telnessees, whichsare quoted shade off, and
Virginia consols, which are per cent lower bid.
There was decided revival in business on the
Stock Exchange to-day, accompanied by gen
eral yielding in values which extended through
out the list The "bears' came more boldly to
the front than for some time past, and there was,
apparently, no great effort on the part of the
'.bulls" TO resist the attacks made on
the various active stocks. The morning
opened with prices generally shade
lower than they closed last evening, and there
was show Of irmness in early transactions,
but this was followed quickly by q break in Pa
cifc Mail, accompanied by lower prices through
out the list but especially in Union Pacific,
Western Union, Delaware q Hudson and Jersey
Central. The break during the forenoon IN Pa
cifc Mail was equal to q per cent, and from
to IL per cent in the remainder of the list
Towards midday the market became steady at
the Decline and continued to show only moder-
ate fluctuations until late in the afternoon, when
it again became weak, led once more by Pacific
Mail, and remained weak to the close Of the
board. There Is great deal OF uncertainty
about the Pacific Mail Steamship Company and
the Pacific railroads. but friends of the different
companies claim that no serious damage to any
of them will result from the notice sent yester-
day by the Union Pacific to Pacific Mail. Never
theless, in addition to the sales to-day for short
account, there undoubtedly considerable
realizing by persons who bought stock at lower
quotations. The total sales were 305, 900 shares,
an increase of 81, 400 shares, compared with yes
terday, and the business was better distributed
than for some days past. The bulls claim that
che present decline is really an indication of a
more healthy condition of the market, and that
it will gain strength on each break from present
quotations. They say weak holders have been
''Bhaken out, and that the new short interest
is growing rapidly.
The railway bond market was more active to-
day. but not in sympathy with the
trading in shares. There was fur
Their heavy decline in Nickel-plate on large
sales during the forenoon, the price opening at
76a and declining early to TO- Later it rallied
so77, again dropped to 76a, and closed at III a
gain of per cent The impression is growing
that Vanderbilt has decided to let the Nickel
plate Company take care of itself, without aid
from fii-. - the Lake Shore.--an it is claimed
that such o course will prove beneficial to rail
roads in general. as well as to the Lake Shore,
as it will show that money is to be made in
building opposition lines against old established
routes, and will relieve Lake Shore of a heavy
burden
Transactions, 3o5, 600 shares to-wit: 13, 600
Lackawanna, 1000 Kansas & Texas, 38, 600
Lake Shore, 5000 Louisville & Nashville, 5000
Memphis & Charleston, 10000 Northwestern,
5000 New Jersey Central $4,000 New York
Central, $4,000 Pacific Mail, 3S 900 ST. Paul,
$1,000 Union Pacific 81, 600 Western Union.