Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-08-15
MONEY AND TRADE.
FINANCIAL.
Money and Stocks.

i .4 3
NEW YoRx. August Governments firm. Rail-
road bonds heavy; Cleveland. Columbus Indiana
Central frsts 70; no sales FOR seconds State secur-
ties dull.
stocks-speculauo to-day was characterized by
intense excitement, and during the first hour Of
business prices declined h@4b per cent. Toward
noon tho market became somewhat steadier and
recovery of A@2 per cent. established, but dur
ing the afternoon the selling movement was again
renewed, when the entire list rapidly gave aud prices
touched nearly the lowest point Of the day. the mar
ket closing very weak and unsettled. The decline as
compared with yesterdays closing quotations was
per cent. in Lake Shore l. Michigan Southern 81 in
Chicago l. Northwestern common, 2S in Delaware
Lackawanna 4 Western, 2B in Morris 4 Essex and
Western Union, TX in Milwaukee h st. Paul COM
mon, ~ in st. Louis, Kansas City h Northern pre-
ferred, ~ in Delaware & Hudson, IL in Toledo &
Wabash and Chicago & Rock Island, and A@1N per
cent in the rest Of the list. great deal of long
stock was sold, in addition to what was sold for short
account. There was only one small failure and less
than 1000 shares were sold out under the rule, and
the speculator on whose account these were sold
gave notice that he would make his contracts good
DEAFNESS of money helped the decline, which was
also assisted by that about 1000 shares of
Lake Shore 4 Michigan Southern were sold quietly
for Vanderbilt account at from 50 to SO. The Even
ing Post says: strangely enough, orders to sell
mostly from Saratoga, from which place orders
to buy of last week also It will be interesting
to hear what these Saratoga spectators have to say
respecting the lease Of the Lake Shore & Michigan
Central to the New York Central. If it shall prove
that the various stories sent from there were pure
inventions, and that the names Of influential railroad
managers were used without authority then the lat
ter will to their regulations to vindcate them
selves The general feeling here is that the street
has been again duped and that very large amount
of stock has been marketed" The Evening Express
says: cat the opening of the week money was easy
to borrowers 3@4 per cent? and the report of the
favorable lease of the Lake Shore & Michigan South
en to the New York Central few thick and fast and
found hosts Of believers. Nearly everybody became
bull and large amount of the leading stocks were
bought for the rise in many slender margin
Yesterday and to-day money was sharp at per cent.
and all reports to the effect that there would be
no lease of the Lake Shore & Michigan Southern to
the New York Central Laler the condition of affairs
materially caused heavy decline in values, which
was accelerated by the closing out of spectators
who we're operating on and per cent. margins and
in some cases even those with 10 per cent. margins
At the close transactions aggregated 81 shares
Of which $3.50 were Erie; $1,000 Lake Shore
$1,000 Milwaukee & st. Paul common; 1000 pre-
ferred; 5,4O0 Toledo s. Wabash; $1,000 Delaware,
Lackawanna Western; $500 New Jer. ey Central
Michigan Central; 1900 Union Pacific; 1900 Ohio
Mississippi; 1900 Hannibal St joe common; 1890
preferred; $4,000 Western Union; 300 Pacific Mail
1900 st, Louis, Kansas City h Northern common
1900 preferred; 1, 90 Missouri. Kansas Texas
1890 St. Louis & San Francisco; 1000 Burlington,
Cedar Rapids l. Northern, and 100 st. Louis Iron
Mountain.
Money active at 4@7; closing at per cent. Prime
mercantile paper 1868 per cent. Sterling exchange,
bankers bills dull and weak at 81 sight exchange
Oh New York 83A.