The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-09
MONEY AND STOCKS.

MONEY AND STOCKS.
Good Demand for Money from Local Mer-
chsnts-Bsnk Deposits Increasing.
Indianapolis bankers report plentiful
supply of money, with good demand from
local borrowers Many joDbers are now
paying for holiday goods who have not yet
collected from country merchants. Thelat-
Ger are little slow in paying for purchases,
hence wholesalers are compelled to discount
bills or borrow to meet their own accounts.
There is an increased supply of exchange,
due largely to recent large shipments Of
grain to the sea-board. The demand. how
ever. is equal to the supply. Deposits in
bank were heavier yesterday and the day
before than for some time past. There 10
no change In money or exchange rates
The clearances and balances of the SIX
associated hanks of the city, yesterday.
compared with the corresponding day last
year. were:
Jan. 8. 1892. Jan. 8, 1891.
Clearances- 1855. 742.34 $7s7,25S.36
Balances.----. l20,5S3.95 6I,s3o.o4
NEW YORK QUOTATIONS.
At New York yesterday money on call
was easy, ranging from pa to per cent,
the last loan being made ct GA per cent;
closing offered at 2ls per cent.
Prime mercantile paper, 4%G6 per cent
Sterling exchange was quiet and strongat
s4.s3 for slxty-day bills and s4.o5 for de-
mand.
The total sales of stocks were 566,6e5
shares. intending the following: Atchi-
son, q eos; Chicago Gas, 1000; Delaware.
Lackawanna 81 Western. $50; Erie, 1895;
Louisville & Nashville. 1905; Manhat-
tan. S.05S; Missouri Pacific, 6.700; North
.5Sl; Northern Pacific preferred.
$50; New England, sO,SsO; Reading, $3.50;
Richmond & West Point. S3.095; st. Paul,
1910 st. Paul & Omaha, $3.50.
The stock market was very active and
feverish throughout. but while the amount
of business done falls short of that of yes
transactions. which were, if any thing. more
significant on the whole. The irregularIty
IN the movement continued to be q feature
of the trading until the close. and while
New England, Rock Island. Manhattan,
louisville, New Albany & Chicago and
Northern Pacific preferred. with some OF
the low-Driced speclalties. Were specially
strong. Missouri Pacific. Union Pacific,
Distillers and Atchlson were weak points.
The general list. however, was quiet and
moved within comparatively narrow limits,
and the excessive trading in the few
more prominent stocks brought the
The "bears" were sgain active and
aggressive and made drives at several
stocks at different times. These efforts
Thursday and yesterday have, it is y
ieved. closed the stop orders. which h. 9
been q menace to the speculation. The
transactions in Chicago Gaswere still enor-
NOUS yesterday morning; probably $1,000
sharses changed hands In the first fifteen
minutes trading. While 1t opened atdiffer-
ent prices, from 20 to "a, while It only went
bper cent. below the former price during
the day, the strength displayed by the
stock quickly restored confidence. and 1t
advanced TO 75as, the general market gath
ering strength IN the meantime. The fe-
verishness, however, never departed from
the stock. and the drop of per cent-1n
Distillers. W hich was engineered for further
effect upon the general market,
ence than this This decline was
as quickly recovered as the other,
and New England Immediately came to the
front. continuing Its remarkable upward
movement. helped by further rumors favor
brought to bear upon the Gould shares. and
Union Pacific displayed real weakness, but
the sharp upward movement given Man.
haitian served to disseminate the idea that
the insiders were not in the efforts to de-
press these shares. The late dealings were
also marked by a sharp adv nce in the coal
ers. supposed to he another move against
the shorts and Jersey Central, Delaware
d Hudson and LaekawaIna all scored SUBJ
stan tial gains. The most remarka BILE move
menu or the day, however, was IN
the securities of the New York Il
Northern. the stock advancing on
large transactions from 19lR to %,
the bonds following closely. Most of this
was retained at the close. The general
list opened generally small fractions high
er. but the movements continued IN q
small scale. and the irreRularity was one
of the features of the day, though the
market displayed considerable strength
throughout The advances last evening
were moro numerous than losses. There
was a final effort to knock prices off in the
last hour, but IL was met by the advances
In Manhattan and the coalers, and the
market closed active and firm, generally at
small fractional gains for the day. Dis
tillers are 70 per cent. lower. but New
ern Pacific preferred. and Richmond &
West Point are each l per cent. higher
while New York * Northern. Richmond IL
West Point preferred. ana Susquehanna 81
Western preferred are mp larger amounts.
Railroad bonds were less animated than
Thursday. but there was no diminution of
the strength of the dealings. and while. as
usual OF late. tile material gains are few,
the whole list moved mp without effort,
The special features of the day were the
New York 81 Northern seconds and the
Richmond IL West Point. the former NOV
ing mp from 50 20 6Si4, and closing at 63.
The total transactions were IS. 255, 600, the
three issues mentioned being the only active
specialtfes
Government bonds were dull. but firm.
State bonds were entirely neglected Clos
ing quotations were:
-Four per cent. egIl6ialLouis. & Nash----. So
Four per CT. coup-.116$lI L. * New Albany. 29s.
Pacific &c Of 90 .109 Missouri Pacific. 634
Atchison. a4TslN. j. Central Il
Adams Express Northern Pacific 2514
a. Dausf4.