Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-24
MUNICIPAL MATTERS.
MONEY AND TRADE,
FINANCIAL.
Money and Stocks.

NEW YORK. Oct. 23.-Governments steady. Rail
road bonds strong and prices generally advanced,
with the large:t transactions in Missouri, Kansas /
Texas seconds, which advanced to As, rise Of *
per cent Cleveland, Columbus Indiana Central
irsts sold at 7sh; seconds At ssx, and Sioux City
irsts at s5H. State securities steady.
stocks-The upward movement in tho stock mar
ket received fresh impetus aud the general list ad
vanced Y to per cent, Cleveland, Columbus In
diana Central showing the greatest improvement;
Hannibal st. Joe coming next with rise of AZ
per cent Cleveland, Columbus, Cincinnati l. In
dianapolis selling up 3t per cent? St. Louis 4 San
Francisco * per cent, Erie AZ per cent, Northern
Pacific per cent. and the coal shares 40lX per
cent. During the afternoon owing the stringency
in money, which is said to be largely artificial the
market fell off a to 81 per cent, tho latter Kansas
Texas, which, however, became very strong In the
final dealings and recovered ~ per cent. The gen.
eral market also showed much rmness at the close,
and made partial recovery. Frankfort Kokama
advanced per cent. to 81. Tho Elevated railroad
stocks were very buoyant, and rose SOS per cont,
but subsequently reacted 104 per cent. Cleveland,
Columbus l. Indiana Central advanced on q report
that the Pennsylvania Central was about to make
compromise OF Gtigated matters concerning the
lease. Among the amusing features of the stock
market this afternoon was advance in Now jersey
Southern from Az to ~, and in Spruce Hill Coal
from n to 6. The strength Of Erie more clearly
developed than at any time since the rise started from
TO- and coal shares reached tho best figures yet
corded. Additional strength and activity was i'm
parted to Pacific Mail by tho publication Of column
interview in the "World' with Rufus Hatch regard
ing the future of this property subject to which he
has given much attention. He says the business of
the company is heavy and rapidly increasing and its
financial condition has been greatly improved He
is OF the opinion that under its present direc n 1t
has fully recovered from the damage inflicted on it
by the recent management and that its traffic facili-
ties will enable the company to profit largely by tho
present revival OF business. BE also thinks Is COM
pared with tho prices many stocks now bringing
on CHANGE that Pacific Mail Is selling much to- low
The company, he says, owns sixteen iron steamers,
al in first class condition, and making money. Its
is S1e75,O,O and it has until 1889 to
cancel it. As these obligations for 80 long Pc
Rod, and tho monthly payments moderate it will
be seen that as present earnings equal to per
cent. on the capital stock the co npany are rapidly
placing themselves in position to resume dividend.
Mr. Hatch expresses the belief that tho proposed ship
canal will DO commenced within a year, and says
that from tho day the first spade is put into the
ground for an inter-oceanio canal, Pacific Mail in
carrying their men, supplies and materials alone,
will earn ten per cont its capital stock, besides
being able to keep its equipment in thorough order,
aud to build new steamer each year.
At tho close transactions aggregated $4,000
shares, Of which $4,000 were Erie; 1900 Lake
Shore / Michigan Southern; 2l,o0 Toledo l.
Wabash: 5000 Chicago Northwestern; 1000 Mil
xaukee st. Paul: $4,000 Delaware, Laokawanna /
3 Hudson; 1000 Michigan Central; 10000 Union
Pacific; 5000 Cleveland, Columbus, Cincinnati l.
Indianapolis; Is GOO Cleveland, Columbus + Indiana
Central; 1901 Ohio Mississippi; $1,000 western
Union: 10000 Pacific Mail; $4,000 st. LOUIS, kan
sas City Northern; $4,000 Missouri, Kansas b
1000 Indianapolis, Cincinnati l. Lafayette; 10
Now Jersey Southern; $1,000 st. Louis San Fran.
cisco; 6, w Boston Wa or Power; $4,000 Elevated
Raiiw J; $500 American District Telegraph; 40
Alton rerre Haute, and ], 100 Chicago, st. Paul l.
Money &C i've tx, closing at per cent. Prime
mercantile paper b06h per cent. Sterling exchange
bills steady at soA; sight exchange on New
York 85k.
Rouov