The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-03-21
RISANCIlL And COMMERCIAL.
MONEY AND STOCKS.

New York Financial Market.
NEW YORK, March 2O.-Money-l@lK per cent,
closed at per cent.
Prime Mercantile fsper-495 per cent
Government Bonds Quiet and unchanged.
Railway Bonds-The market was quiet with
limited business in all except West Shore frsis
Nickel Plate frsts and Erie seconds, new. the
transactions in which amounted to about g. per
cent OF the days business.
State Securiues-Inacuye but strong
The feature OF to-day's market has been heavy
trading In Pacific Mail. accompanied by O further
decline in the stock OF ~ per cent. Complca-
tions growing out OF the fight OF the Pacific Rail-
roads I'D the notice OF the Union Pacific to the
steamship Company OF an intention 10 discon-
tinue the subsidy paid by the railroads
TO that Company were further com.
plIcated to-day By notice from
Central Pacific. This settles the question as 10
the formality OF notice 10 the Steamship Com
psny. and unless o readjustment OF the arrange
ment between the different companies is effected
IL ends monthly payments OF about $4,000 By
railroads 20 the Pacific Mail after the expiration
OF the time required In the old contract: TIE
bfnted at to-day, but President Houston, OF tue
Pacific Mail, is credited with the statement that
no proposition looking to reduction OF the
amount 10 be received by ois company would be
considered. There has been heavy selling Tor
short account, but IL Is bcleYed tonight tnat III
siden. including some OF the directors
who were heavy holders OF Pacific Mail
stock, have also unloaded. Late in the afternoon
stock sold down 10 49,, and closed with last
sales at 49,. and at 491z bid. This Is decline OF
about II per cent in the past three days. Trading
in stocks 10 CAV amounted 70 over $1,000 shares, or
a. per cent. OF the total days business The gen
eral market opened strong, and ia the first hour
made slight gains. the bull being aided 10 their
efforts TO support the market By the disposition Of
the bears TO realize profits. With this cheek 10 the
general decline the market became duh and
prices remained steady alter the first hour until
after misday, when considerable weakness
was developed in Union Pacific During the at
terno0n the statement was published that Gould
had sent letter 20 President Adams OF the
Union Pacific. declining reelection as q member
Of the Board of Directors OF the company. This
and the general impression which prevailed that
the complications between the Union and Cen
trai Pacific Companies were daily assuming n
more serious character were the cause for a break
in Union Pacific. which sold down TO 4l5s and
closed feveTish at 49,, q loss OF n per cent.
A drive made al Lackawanna late in the
afternoon, which tell TO lO2 a aud closed az that
price = loss OF per cent. alter selling earlier as
high as 1881. Texas Pacific is also down = per
nt at llts, and Missouri Pacific IS a lower. at
-. on light transactions. In the face OF the
weakness OF the stock above mentioned Wander
pitts and gIangers were remarkably strong al
n ough they yielded a fraction during the last
hour.
Transactions On Stock Exchange sggregsiei
81, 200 shares, Of which 2S0O) were Lackawan IA,
26.tO0 Northwestern, 1900 New York Centr Al.
2s.oOo s.. Paul $500 Union Pacific 1900 Wet
ern Union.