Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-11-13
MONEY AND TRADE,
FINANCIAL.
Money and Stocks

per cent. higher for As, AIS and 5s. Railroad
bonds strong and buoyant with advance Of 1906
per cent. In Mobile Il Ohio debentures the Erie is-
sues being the most prominent in the improvement.
Mobile Il Ohio recorded the greatest advance but
the great feature Of the market was the heavy s,r-
chases of Erie issues, which advanced sharply, new
seconds consols rising from s7A to 80 and funded
hves from S5l to ST. In the new seconds consos
the TRANSACTIONS aggregated about 81, 100000 There
were also large transactions in Missouri Kansas &
Texas, Texas Pacific, Chesapeake & Ohio frsts, Lake
Erie & Western incomes, the New Jersey Central is
sues, st. Louis San Francisco seconds, class B. and
Toledo 4 Wabash, extra coupon convert bles at an
advance from H02h per cent. Cleveland, Column
bus Indiana Central trss closed at 80 and St. Paul
" Sioux City firsts at 81. State securities dull.
Stocks-Io-day was the most arkable one for
activity and bCoyancy in the history of the Stock
Exchange. The excitement at fever heat
throughout and in many not only were the
highest prices Of the year made but the highest ever
attained, The dealings, which were on an enormous
SCALE were well distributed and taxed severely the
capacity of the stock telegraph instruments to report
them, and orders poured in continuously from all
parts of the country that brokers many instances
experienced considerable difficulty in executing
them. Nearly the entire list participated in the &C.
tiv1ty, and many stocks heretofore quiet, became
traffic Of the railroads consequent the general re-
vival OF business throughout the country of course
had much to do with the condition of affairs to-day
but In number Of instances there were special
causes at work to put UP this that stock. The
GREATEST advance was in Nashville, Chattanooga 4 st.
Louis which sod up from 692l to 80, closing at 1914
on the statement that the president Of the company
has quietly bought controlling interest in the West
ern 4 Atlantic, which from Chattanooga to At
lanta, and is regarded as the key to tho Southern
railroad system. One of the principal features of
the market was large transactions in Erie, chiefly in
common stock, which rose PA per cent, the IRE
ferred advancing per cent. The upward movement
in these stocks and also in the bonds is based the
large and increasing traffic of tho company and gen.
eral improvement in the condition of property. The
earnings for October wereS 100000 greater than those
Of the same month last year, which was one Of the
heaviest months for bushes in the history Of the
road. Again, the Erie company owns q large amount
OF Cleveland, Columbus, Cincinnati l. indianapolis
railroad stock, which has recently advanced greatly
in value and now represents asset of over 81 0C0-
600. The advance in granger and coal shares con-
tinued and they 1924 per cent. the coal stocks
being favorably affected by the announcement of a
general advance Of 80 cents in the price OF COAL to
take effect December LIST. The telegraph shares,
which have been inactive for time took a sud-
uoAl "p"oiV Iuiu, HesteIu OlllOu advancing "A and
Atlantic 4 Pacific 81 per cent, with subsequent re-
action of 11s per cent. respectively The rise was
attributed to the enormous business of Western
Union and its leased lines, growing out of great
tvity Of the trade markets and greatly increased
speculation in stocks and grain III the miscellaneous
share list. Chesapeake b Ohio frsts preferred
showed the most improvement, advancing 6N per
cent. to 29A, purchases Of stock being induced by
report that the company had contracted to extend
its Southern line from Huntington to Lexington,
KY, and also for re-extenson to Cincinnati. St.
Louis 4 San Francisco, Ohio & Mississippi, Cleve-
land, Columbus 4 Indiana Central, Alton & Terre
Haute, St. Louis Iron Mountain and Mobile h Ohio
were notlceaby strong. In final dealings buoyant
tone prevailed and the market closed at an advance
for the day ranging from 1910 per cent. st. Paul
Sioux City common closed at 421s and preferred at
73. Pullman palace stock sold up to lOs01Oe
against 100 few days SINCE The rise is due to re-
ports that cars of the company to be used by the
entire southwestern system of roads and by lines
west of Chicago. In addition to the influences men
toned above, further impetus was given the ad-
vancing market by reports that $4,000 900 moro of
bonds will soon be purchased for the government
sinking fund. These reports are probably based
upon the fact that for the first ten business days of
November customs and internal revenue receipts
have aggregated over Sl,0OOOOo day at an average,
and receipts from customs alone for the first nine
days Of this month averaged about $685. 90 day.
This will result in large surplus revenue for the
current month and its prospective continr alton,
which may be looked on as assured, will enable the
secretary of the treasury to purchase more Of the
Six per cent. bonds early next month. In the mean
tme' however, at the rate stocks of all speculative
descriptions are going up 1t will not take long to use
up the surplus 500, 100000 thrown into the market
.by the recent DI1rchaSe luh
qulrlng substantial margins and some have lost &C.
counts because of refusal to carry stocks on per
cent. deposit. The Central Pacific paid into the
treasury to-day at Washington 10000 on account Of
sinking fund. In connection with the rise in Nash
vile, Chattanooga Il st. Louis there was a rumor
that the road will be consolidated with the Louisyille
h Nashville. This also had tendency to assist tha
already advancing stock Of the first mentioned road
The transactions to-day reached the ilnmense fig
of 624 900 shares of which 1854 900 were Ere
$4,000 Lake Shore Il Michigan Southern: 1s Oo0 7 o.
ledo & Wabash; 10000 Chicago Il Northwestern
$4,000 Milwaukee Il St. Paul; 900 Delaware Lacka,
wanna Western; II, 900 New Jersey Central; 900
Delaware 4 Hudson; $3.50 Michigan Central; 1000
Union Pacific; 1000 Cleveland, Columbus, Cincin-
natl l. Indianapolis; 5000 Cleveland, Columbus h
Indiana Central; IA 600 Hannibal h St. Joe; % 900
ONO Mississippi; As, GOO Western Unon IL, 900 At
1antic Pacific 900 Pacific Mail; $4,000 St. Louis
Kansas City Northern; $4,000 Missouri, Kansas s
texas; 600 st. Louis h Iron Mountain; 10000
noGsVlile Nashville; so Northern Pacific; 5000
st. Paul Sioux City; 10000 Indianapolis, Cincinnati
lafayette; 81 900 Chesapeake 4 Ohio; 1000 Chi
aau n 10000 Nashville, Chattanooga 4 st. Louis
s,ooq houston Texas; 10000 Kansas Pacific; 1905
81 oo n1m Gus San Francisco; 1000 Mobile Ohio
S'oOo Marietta Cincinnati, and % Illinois Central
~. Money og1, closing at per cent. Prime nercan.
de paper oa0I per cent. Sterling exchange, bankers
pl!.S steaoy d 'S1s sight exchange New York 49,
The following were the closing quotations: