The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-17
FINANCIAL AND COMMERCIAL
MONEY AND STOCKS.


But Little Change in Prices in New York,
Except in Lackawanna.
New York. Feb. I6-Money, II Ger cent. I;
offered at the close at per cent
Prime mercantile paper, 495 per cent.
Sterling exchange unchanged; GO days, 81 49,;
sight, 81. S61.
Governments unchanged except for the threes,
which are per cent. higher at 1ol4 bid
Railways quiet and strong.
The week opened at the Stock Exchange with
out any material change in the general situation,
Prices were to per cent. lower and nothing
new has been developed since Saturday to in
Auence values; but persistent selling
movement In which Laekawanna led, drove
quotations down, in the first half hour,
from l to per cent, compared Win iast
week, LackawaGna declining to "a, at which
$500 shares changed ownership The whole list
svmpathized in the downward movement The
decline was checked, however, In about half an
hour and slight rally followed formost stocks.
while Lackawanna advanced until it reached
98R before 2 o'clock, gain from the lowest quo
taton of the morning Of a. per cent Mean
time, New York Central and Lake Shore re-
manned strong without making any important
advance and st. Paul and Union Pacific were
weak The market dPifted iato an extremely
feverish and unsettled condition. The enor-
nous sales of Lackawanna, accompanied by the
advance in price, furnished little guide for
the rest Of the market The extreme price or that
stock was not maintained. and after reaching
49, it dropped quickly to 97a, again sold at 90
and 97s before 2 o'clock, and in the last hour
fuctuated between 97a and $685. finally closing
with sales of 5000 shares. regular way. at 10.
but the last sale was made at 80, seller sixty
days The total transactions for the day In TINS
stock amounted to 1923. 600 shares, or over 40 per
cent of the total days business in all stocks
In comparing the business in Lackawanna with
that IN other stocks, it should not be forgotten
that the par value of a share of Lackawanna is
only $50 while of most other stocks on the list
it is $780,
The street was web supplied with rumors, in
Guiding report that Gould u S. N. White had
disagreed late Saturday afternoon, as to the
policy TO be pursued regarding the market, and
that the former was therefore not lending any
further aid in supporting prices This report
was more generally believed when dispatch
from the Windsor Hotel was freely circulated,
stating that Mr. Gould is in the lobby, watch
ing the weather and not the market" and later
came the announcement from Goulds
Office that he would start on his
Southern trip this week Friends Of the recent
"bull" party claim they have already unloaded
on those who were most prominent to-day IN
supporting prices, and that this Is correct ex-
PLANTATION of the movements of the past two
days, as indicating, in some way, the irregular
condition of the market.
Taking tweEty-six of the most active stocks,
the changes in prices, as compared with Satur-
day evening, show about an equal number of
gains and losses, but in no case does the differ
euce either way exceed per cent, except Lack
awanna, which is up2 per cent, and Missouri
Pacific, which is Il per cent lower.
The total sales amounted to 306,066 shares,
but except Lackawanna, there were only four
stocks the transactions ia each Of which
amounted to as much as 10000 shares, viz: st.
Paul, 10000; Union Pacific, 2,5l5: Western
Union 81, $40, and Northwestern, 81 030 shares.
With the exception of Erie seconds, new, which
were moderately active. the railroad bond
market was dull but prices were generally.
higher.
Transactions, BOG, 600 shares, to-wit: 123, 600
Lackawanna, 10000 Lake Shore, 81, 900 North
Western, 0,0G0 New York Central. 81 GOO St.
Paul, $4,000 Union Pacific, $4,000 Western
Union,