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

NEW YORK. Nov 1O.-Governments quiet and firm
exceIt for issues of 1881, which were x per cent.
lower than Saturday. Bar silver 116A. Railroad
bonds fair to active and generally higher. The chief
feature of the market large business in Texas
Pacific land grant Incomes which sold from 40 to 66.
Burlington, Cedar Rapids Northern frsts rose to
80 and Lake Erie Western incomes to 62a. st. Paul
4 Sioux City frsts sold at 80 and Cleveland, Column
bus Indiana Central seconds at aS. State securi-
ties dull.
stocks-The week opened with great buoyenacy
and excitement on Stock Exchange under an easier
condition of the money market and announcement
that the treasury had purchased S725O0O of skies OF
1881 at There also special causes at work
in favor of stocks, which had tendency to in
crease the general activity and buoyancy. The an
thracite coal stocks were the prominent feature CT
the market and advonced 5A@l0 per cent, New Jer-
sey Central rising to 86H, Delaware, Lackawanna h
Western to 80, Delaware l. Hudson to 8l9s and Nor
ris + Essex to z The continued upward move
ment in coal shares is due to favorable reports in
gard to trade which has not been so active and proS-
porous for years past. Many of the companies are
refusing to take orders ahead at current quotations
for COAL and another advance IN prices is looked for
In the early future. The greatest advance of the day
was made in some Of the stocks recently admitted to
dealings at the Exchange, among these Lafayette,
A|tSS11Ah6lo4
but subsequently reacted to II. The immediate
cause OF this sharp rise was an announcement that
the 100000 stock Of the road is to be withdrawn and
$1,000 900 Of the Lake Erie & Western stocks is
to be issued and given to the Lafayette Bloomington
+ Muncie stockholders for their road and equip
mont. The st. Paul l. Sioux City stocks rose 5@6H
per cent, the CO mon to 37H and preferred to g.,
closing at 81 and 65A respectively. This advance
was based on reports that the road had made some
new and important connections, which would in
crease traffic to an extent that would result in the
payment of dividends on preferred shares In the
early part Of next year. Lake Erie l. Western adj
vanced 81 per cent. to %, but closed at d. The
granger and trunk line shares we're all strong and
higher on reports of large traffic both East and
West. Among other shares Nashville, Chattanooga
b st. Louis advanced to e5A and Chicago. st. Paul
Minneapolis to sou. The advance in the general
list was 1914 per cent Pacific Mail was exceptionally
weak and declined to 365s. There was general re-
action after the second board, but the market be-
came buoyant again toward the close, when it be
came known that the treasury had completed tn
purchase Of S10,0OO,000 of bonds and prices . =
vanced sharply, and in many instances the highest
prices Of the day made in final dealings as men
toned above. The assistant treasurer this afternoon
purchased the whole of the 900 skies of july
1884, which he was authorized by the secretary of the
treasury Saturday to buy at 81 06. Up to O'Clock
he had paid out about S4,50o,o0O, and the balance
will be disbursed tomorrow. The immediate effect
Of this was to make the money market easier and
call loans. which were 1l6 at one time, during the
afternoon dropped to sos per cent. and money was
plenty at these rates. round amount Of 600 100
was offered on United States bonds for the remain
der Of the year at per cent. It is generally be-
heved that the secretary will purchase another
S1oooo,oO0 Of bonds and keep on until he has filed
up the sinking fund. ...-
At the close transactions aggregated $4,000 shares
OF which SO 900 were Erie; $4,000 Lake Shore chi-
gan Southern; 1000 Toledo Wabash: 19, 600 Chi
csgo Northwestern; 1900 Milwaukee st. Paul
900 Delaware, Lackawanna Western; Sc, 900 New
Jersey Central; 1900 Delaware 4 Hudson; 5000
Michigan Central; 1000 Union Pacific; 5000 Cleve-
land, Columbus, Cincinnati & Indianapolis; 5000
Cleveland, Columbus Indiana Central; IL 900 Han
nbal st. Joe; 1900 Ohio l. Mississippi; 1900 West
ern Union; 1200O Pacific Mail 10 COO St. Louie Kan
City Northern; Il, 900 Missouri, Kansas &
Texas; 500 st. Louis Il Iron Mountain; 500
Northern Pacific; 10000 Nashville, Chattanooga 4
st. Louis 5000 st. au b Sioux City; LOCO Chicago
St. Paul & Minneapolis; 1000 Lake Erie 4 Western
600 St. Louis San Francisco, and 900 Lafayette
Bloomington h Muncie.
Money loaned higher att per annum and 1-16 Der
diem, closing at 56 per cent. Prime mercantile ps
per GOT per cent. Sterling exchange bankers bills
steady at 80; sight exchange on New York SO.
The following were the closing quotations: