Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-01
MONEY AND TRADE.
FINANCIAL.
Money and Stocks.

NEW YORK, Sept. 3O.-Thero was . sudden and
sharp stringency in the money market this afternoon
when call loans advanced to per cent. and COM
mission Of 1872 per cent. per diem, the immediate
cause having been the preparation for disbursement
Of account on interests, which begin tomorrow
| Governments weak and lower Railroad bonds gem
orally firm, with large transactions in Erie seconds
80 and 79A the latter the closing price. Thenext
| largest transactions were in Missouri, Kansas l.
Texas seconds, which advanced III per cent. TO 34.
| Other changes were an advance of az in Alton l.
Terre Haute seconds preferred and per cent In Al
ton h Terre Haute income. ~
Stocks-The stock market opened strong for Erie
Ohio & Mississippi, Pacific Mail, Missouri, Kansas +
Texas, Lake Shore 4 Michigan Southern, Michigan
| Central and Changers, and little heavy for coal
stocks In early trade there was fractional decline
in favorites, but at the call the whole list moved up
ward the Granger aud coal shares leading, and was
strong for the remainder Of the morning. The best
figures of the year recorded fol Lake Shore &
Michigan Southern, Erie, the coal shares and Grang-
ers. Before II O'Clock speculation continued strong
until late in the afternoon when, under the influence
OF stringent money market prices fell off and deal
ings were weak at decline Of A@1A per cent. from
the highest point of the day. Panama sold at no. an
advance of 10 per cent. Erie was as usual of late
the most active stock the list The Graphic says:
"In explanation Of the marked advance in the price
of Pacific Mail shares, Of the directors of the
company to-day stated that the company Is and has
been for some time past realizing large profits and is
rapidly paying off its back obligations to the Panama
road. 1t will Fay off Tomorrow further sum of
$4,000 Of this indebtedness, and money for this
purpose is now in bank: Every steamer out is fnly
loaded with freight and the incoming steamers from
Aspinwau are continually compelled to leave much
freight behind. The net earnings of the company at
this time is at the rate of $4,000 per month"; and it is
| stated by the beginning of next year the entire
bonded Indebtedness will have been reduced to ST.
0Oo,0Oo. If this information, which officially
be correct there is certainly good reason to Justify
the confident expectations Of leading shareholders
that the company will at an early day take place
among the dividend paying corporations. thor
ough reorganization Of details Of management of
the companys affairs at San Francisco has been or
dered by the board OF directors, including reduc-
ton in oil expenses by 1915 per cent. The agent of
the company leaves Immediately to perfect reor-
ganization and institute economies which will reduce
expenses at that end Of the route and conform with
those already introduced here" The books Of the
Hannibal h st. Joe Railroad company were closed
yesterday for the annual election. The transfers
made on the eve of the closing of great import
to foreshadowng the futures of the property
All doubts of Gould's either controlling, or at least
becoming an important factor in the management,
were set at rest by the into his and brokers'
names Of immense quantity of stock. It is stated
upon good authority that $4,000 shares were trans
ferre into his name. The earnings of the Chicago
Southwestern road for twenty-six days of Septem-
Der increased $l92 600. e. W Todd Co., one Of
the most prominent bucket shops, suspended to-day
with liabilities estimated over $5O,00O which Todd
says he vii pay in full. Missouri, Kansas & Texas
under heavy purchases rose from 1874 to 2lh and
reacted to 2O3s. .-,-. ... ii
At the close transactions aggregated 415 600 shares
Of, which $4,000 were Erie; $4,000 Lake Shore Il
Michigan Southern; 10000 Toledo l. Wabash; $4,000
Chicago & Northwestern; 1900 Milwaukee st..
Paul: 46, 600 Delaware, Lackawanna 4 Western; TO-
600 New Jersey Central; 5000 Delaware 4 Hudson.
5000 Michigan Central; 10000 Union Pacific; $500
Cleveland, Columbus, Cincinnati & Indianapolis;
5000 Cleveland, Columbus & Indiana Oentral 5000
Hannibal St. joe; GOO Ohio T. Mississippi; $500
Western Union: a. 600 Pacific Mail; 81, 1000 St. LOUIS
Kansas City & Northern; 5000 st. Louis & Iron
Mountain; 5000 Missouri, Kansas & Texas: T., 90
Louisville s. Nashville; 5000 Indianapolis, Cincin-
natl Lafayette; 1000 Northern Pacific; $500 st.
Louis h San Francisco, and 1000 Canada Southern.
Money stringent at 6Q97 1882 per cent. Prime mer-
camille paper SOC per cent. Sterling exchange, bank
ers' bills rmer at 81; sight exchange on New York
1871.
Produce exports for the week, $S,127,O0O.
The following we're the closing quotations: