Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-08-01
MONEY AND TRADE.
FINANCIAL.
Money and stocks.

New YoRK. July 81. Governments strong. There
was great buoyancy In railroad bonds, with brisk
demand and largest rise Of 3M per cent. in Cleve-
land, Columbus & Indiana Central frsts. The next
largest advance was per cent In Toledo 4 Wabash
seconds. Cleveland, Columbus + Indiana Central
arsts and Trust company certificates advanced TX
per cent. Great Western seconds and Toledo & Wa
bash convertible, extra coupon, II per cent. each.
Erie seconds, new consolidated, and Missouri, Kan
sas 4 Texas consolidated assembled per cent each
State securities dull.
Stocks were rather active and buoyant tho greater
portion Of the day. In early dealings prices adj
vanced h02h per cent In the general list, Chicago
h Northwestern common Leading in the upward
movement During the afternoon there was reac-
ton of A@l per cent? the coal shares showing the
most weakness, owing to reduction in circular
prices of coal faT August issued by the Delaware
Hudson and Peoria Coal companies, as compared
with prices obtained ct the Delaware, Lackawanns 4
Western auction sales yesterday. Towards the close
there was renewed activity and buoyancy especially
for Granger and trunk line shares, and In number
Of instances the prices made in closing dealings we're
not only the highest of the year. but the highest for
many years past. The basis for this marked conf
dence especially in Western Stocks Is the continued
favorable avices from the West in regard to harvest
ing Of wheat, the hne condition and prospects for o
large yield and the certainty Of heavy demand
from Europe for our surplus cereals. Again the
earnings of the Granger roads is the great incentive
to buying in these shares. The Chicago & North
western road instance, for the first four days Of
the fourth week IN July shows increase in earn
ings of $4,000. which makes gain from the OPEN
ing of the fiscal year, June LIST to July 10Th, Of $780,
600, or about Is per cent. This is looked upon as
insuring Z per cent. dividend for common stock
this year. and hence the sharp rise in those shares
to-day. The Milwaukee 4 st. Paul stocks were up
for the same reason that the Chicago Northwestern
advanced. Some Of the Saratoga operators who
were sellers Of stocks few days since were large
buyers to-day at high prices Among the trunk line
shares Lake Shore l. Michigan Southern was the
great feature being largely dealt in at the highest
prices of the year. Burlington, Cedar Rapids 4
Northern rose from 45 to 6OA, but reacted to 4SA.
At the close transactions aggregated 1872 900 shares,
OF which 1900 were Erie; $1,000 Lake Shore +
Michigan Southern; $1,000 Chicago Northwestern
common; 5000 preferred; $1,000 Milwaukee & st.
Paul common; $500 preferred; 5000 Delaware &
Hudson; 5000 Hannibal 4 st. Joe; 900 Delaware,
Lackawanns Western; $1,000 New Jersey Central;
5000 Western Union; 5000 Missouri, Kansas &
Texas; 1000 st. Paul & Minneapolis; 1000 Burling-
ton, Cedar Rapids Northern; 5000 St. Louis, Kan
sas City l. Northern common; 600 preferred; $500
Northern Pacific, and 1000 Louisville Nashville.
Money easy at 2A@3 per cent. Prime mercantile
paper 314 per cent. Sterling exchange bankers
bills dull and weak at san; sight exchange on New
York S2h.