The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-13

Heavy Business in Railway Bonds-UnusuaI
Steadiness in the Stock Market.
New YORK, July 11-&1oney on call was
easy at per cent.
Prime mercantile paper, 405 per cent.
Foreign exchange was dull and unchanged
The stock sales to-day were 247,30s shares in
Guiding the following: Central Pacific, 4,S0O;
Delaware, Lackawanna G. Western, q, 1913; Erie,
IL, $50; Kansas e Texas, $3.50; Lake Shore, 49,,
40; Louisville & Nashville, 16, 270 Northwest
ern 10,1l5; New Jersey Central, 500; New
YorR Central, 81, 245; st. Paul "a, O40; Union Pa
cifc 5000; Western Union. 40, 655.
Government bonds have been more active, ard
quotations firm.
State bonds have been very dull, and quota
lions are steady. The total sales of
bonds to-day was greater than for
any preceding day for many months
past, the transactions footing up $4,677,000.
but the sales of West Shore rsts were g. 1875 GOO,
and Of Erie second consols 81 ,063, 900, leaving
only 1919, 900, to be divided among tho other
issues dealt in. West Shore frsts are up p,
and Erie second consols an equal amount.
Prices generally higher.
The stock market has been steady all day for
the general list, while there has been decided
boom for the Vanderbilts and Western Union
The Vanderbilts were Influenced by the con
stantly growing belief that the negotiations for
q settlement of the railroad troubles,
so far as the trunk lines are concerned,
st least making steady progress, while
Western Union had the benefit of the commence
ment this morning. of the downfall of another
of their rivals. The course of the price of these
stocks was steadily and persistently up
ward from 10 to o'clock. the
slight reactions which occurred not ex-
ceeding ! to J per cent, and being followed
Immediately by higher prices In the afternoon
there grand rush, in which the stocks
named scored additional gains of over l per
cent. Between the opening and o'clock New
York Central had made net advance from
sSa at which it opened, to go In
from 90 to 81, broke to oos, rallied to OIL, sold
again at 90s, and closed on a final rally at the
highest. price of the day, 9l4, an adj
vance from last evening of q Through
out the day the, sales were, in most
cases. in small lets, bat especially so
in the last hour. Tho feverish condition
of New York Central was not impaired to Lake
Shore, which was duh and strong after 2 o'clock,
and closed at the highest price of the day, with
ing and o'clock Western Union rose
from 62 to 634. and in the final hour
10 GAG, closing at 644, gain over last
evening of . per cent The sales of the
three stocks mentioned amounted to 10. 900
shares while the total sales of all stocks dealt in
were 247, 900 shares Six other stocks, Lacka-
wanna, ST. Paul, Northwestern, Louisville q
Nashville, Union Pacific and Erie contributed
rs I below the highest price reached, at
39s, with net advance of l, and
Pacific Mail, which not dealt in during the
morning, and suddenly sprung into activity in
Nashville is up Ii. Other advances for the US
ually active stocks are for less thau per cent
of business done in Erie, which
rose !, and Union Pacific made an equal ad.
vance on a very small business. On sales of
only 900 shares Canadian Pacific shows an
advance of 81, and of the other inactive stocks,
Canada Southern is UP Il, and Missouri Pacific
the best prices of the day. Comparing prices
this evening with those Of week ago, the most
notable changes are the advances in some stocks
that exhibited so much strength to-day New
York Central is up g. per cent; Lake Shore 81,
and Western Union, per cent st. Paul also
shows net gain of q and New Jersey Central
per cent, the other advances in the active list
being for less than this amount. The total sales
were 1,056 800 shares, which is $4,000 less than
for the preceding week of only five days.
The weekly bank statement shows the follow
ing changes:
Specie increase. .-.-------- 2092 5Oo
Circulation decrease. 12950O
Reserve, increase 1922 825
The banks hold 1868, 900, 1923 in excess of
the legal requirement.
The market closed with the following prices
bid:
Three per cent. bonds 1888 Lake Shore. 1919
United States l2s 1l234 LOUSY lie s. Nasty lie 36l9
United States IS. l2234 l. y. A. & C.-....-. p
Pacific 6s of 95-. .127l a Mar. & Gin. lists pref
Central Pacific frsts II u Mar. 4 Gin second DIS
Erie seconds. 56le Mem. s. Charleston. 36l2
Lehigh & Wilksb'e... 95 Michigan Central -. 56li
Louisiana Consols- T8 Mimi. 81 St. Louis 10
Missouri 6s. 10l z MINI d st. L. pref'd 29l4
St. Joe 1lSl2 Missouri Paeii c.. 963s
St. 2. & s. c. firsts. .12O y obile & Ohio. 800.
Tennessee 6s old -. Ala Morris & Essex. .122
Tennessee 6s new. 47l4 Nashville & Chat. SO
Texas Pac I'd grants 3S New Jersey Cen raj. 1878
z. p. Rio Grande. 53l2 Norfolk & w pref'd I5la