Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-11-21
MONEY AND TRADE.
FINANCIAL.
Money and Stocks.


fell OF from STU to SAN aud recovered to S6. Boz
ton Hartford & Erie frsts declined from So to 81,
Missouri, Kansas & Texas consos assorted from %
eox, do seconds from 4s to As, Chesapeake l. Ohio
iirsts, series 3, from 0lia to 6OM and do currency
aixes from IS to 81. Cleveland Columbus Indiana
Central tirsss closed at 81. State securities dull.
Stocks-The Stock Exchange to-day was the scene
OF Wild excitement, consequent upon renewal OF tho
downward movement OF yesterday. The transac-
tons were the largest yet recorded and the huctua-
lions wide and violent. AS soon the market orened
there vas great rush to cell and prices tumbled
rapidly and the pressure to sell Increased as the
morning advanced. At first Erie and the coal stocks
led In the decline then many Of the shares par
topated and finally the whole list broke down. The
decline ranged from 1G57A per cent. and was az
tended with an enormous business. In many OF the
active stocks the downward movement was inausu-
rated by of the large spectators who sold out
last week. and who, finding that the market didn't
yield sufficiently under their sales, made bold at
tack along the entire line, particularly on Erie and
the coal roads. This attack was begun last Monday
and continued with increasing force each day until
today when resulted in the decline already no
decd, The break this morning caused brokers to
call upon their customers for margin and many
specuators not being able to respond sold out,
Which assisted the general decline. Again there were
large number of stop orders In the market and the
saes OF stocks against those tended to add 70 tho de-
1noraiizaIon. The telegraph also brought in orders
10 sell and for time there was general scare. The
bears called upon the bulls for additional margins
and money was bid up TO Is per cent. per diem aud
Interest, all Of which, of course, had adverse in
fuenca on values. There was rally just before
meridian Of 1884 per cent, which not sus-
tanned and the market broke again. At tbs second
board there was another recovery, which ALEC
Loaf h,,to fto~1 c:n fy,o
earlier part Of the day subsidized very materially and
much steadier feeling prevailed, and there was q
general improvement in prices, ranging from 1zQI3H
per cent. from the lowest point Of the day In this
upward movement nearly the entire list participated
with the greatest activity Erie the coal stocks and
granger shares. Just previous to O'Clock money
Vas bid up 10 4 Per cent ger diem and interest,
which checked the improving tendency of the mar
ket and caused reaction III final sales The events
Of Tho day were freely discussed in and out Of the
Exchange nd general oplnioa prevailed that tho
market would resume its old buoyant tone as SOON as
theleadpg operators acquire what stocks they want.
Che uncertain element In the situation seems to be
the time required to complete tho acquisition. The
Post says: "lhe leading spectators to whom the
depression of the week mainly due were to-day
largo buyers, they taking the stocks furnished on
telegraphic and mail orders. Whether these large
Spectators have Yet got back their full line of shares
ia question, but that they have replaced former
The Graphic remarks: The effect Of this bear
raid for it is really no than that upon the
eral market cannot be otherwis than hesllhtul, 1t
will serve to bring into market solid buyers for
sound stocks which, when the profitable character OF
traffic being done by the tuuk lines aud p!ent-
tude of money. which is certain to reyaH here
considered, they cannot expect to buy much
cheaper this scar" Another financial writer says
there indications this afternoon that both
Gould and Sage we've buying stocks, for the Gould
expectations comparatively steady, while others
were unsettled. Eanderbjlt's friends aleo canIe to
the support of his speciaes. It is believed that to-
will DO the last daV OF the rad but il is net
reasonable 10 look either for steady strong
market for days, aud outsiders will DO deferred
from Specializing until they decided reactiou
and more confident wing, and it may be that the
market will not its natural tone before next
week. 1t s believed The secretary of the treasury
will begin the purchase OF bonds for the sink
ing fund, ind that the strength of this another
bull movement VIII be engineered.
At tins transactions reached the immense az
regate Of o03 shares. Of which Erie;
1900 Lake Shore 4 Michigan Southern; %, $50
ledo i Wabash: $4,000 Chicago Il Northwestern !;
&4,GC0 Milwaukee, II ST. Parl: 1900 Delaware, Lacke-
Il Western; l6, 600 New jersey Csntral 5000
Delaware & Hudson. 1910 Michigan Central; 5000
Union Pacific; 10000 Cleveland, Columbus 4 Indiana
Central; 1900 Hannibal IL ST. Joe; 1900 Ohio Il
hIississppi; $1,000 Western Union: 10000 Pacific
Esi; 10000 Wabash, St. Louis 4 Pacific Sc, 900 M1s-
souri, Kansas Il Texas Is, GOO ST. Louis & Iron Noun
tain; 2,OoO Louisville l. Nashville; 40 Northern
Pacific; II 900 Indiana polls Cincinnati 4 Lafayette
1900 Chesapeake l. Ohio 1000 Reading: 1000 st..
Louis & San Francisco; 1900 Nashville Chattanooga
h st. Louis; 1900 Alton 1 Terre Haute 1900 Sutro
Tunnel; 1900 Mobile & Ohio, aud ] 1iD Chicago St.
Paul Il Minneapolis.
Money per aDnLla, Al per diem, closing at 7
per cent. Prime mercantile paper 6Gs7 per cent
Sterling exchange, bankers bills strong at sO1 !;
sight exchange on New York S23a.
The following were tho clos.Is quotations: