Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-23

osSSA0
ment in Western Union is accompanied by a report
that per cent dividends will hereafter be paid and
Pacfca are advanced statements that the supreme
court decision affirming the constitutonality of the
Thurman act, has been dscountenanced, and also
that Vanderbilt will be represented in the next
Union aciic board of direction One reason for
the advance In coal stocks was dispatch from
Philadelphia to the effect that the supply Of coal is
much less than month ago, that there is an abso-
lutte scarcity Of stove coal and that an advance In
price is p obable. The Graphic referring to the ex-
traordnary demand and rom arkable advance in coal
stocks, says: "We enabled to state after Inquiry
among officers and directors Of the coal carrying
railroads that the business of these roads at
is considerably in Of anything heretofore ex-
perienced In their history. The diminished operat-
ing expenses by of the reduced cost of labor
and materials more than compensates for the low
price of coal with the prese Mt volume Of demand,
and It only needs slightly higher prices for coal and
slightly increased consumption to restore those great
properties to dividend paying position which they
SO long occupied before the panic Of 1873 The de-
mand for anthracite coal by reason Of reviving in
dustries Of the country and tho opening of aud
large markets In the West and South is already fully
equal to the supply, and the carrying facilities of the
roads are taxed to their utmost. 1t Is confidently
predict that at least two Of the coal roads will be
enabled to resume paying dividends whiting the next
six months. Arrangements under the plan of recon-
struction now pending for taking the New Jersey
Central road out of the hands Of receiver and it
expected that fin action necessary to this step will
be taken in December or very shortly thereafter,
when Judge Lathrop will doubtless be elected to the
presidency 1t is stated that the net earnings Of tho
road even at the present time adequate to justify
the expectation of dividend to shareholders early
next year, and recent large purchases Of stock here
and in England are based this expectation. It is
stated on authority that the company will mine and
bring to market this year 900 tons Of COAL The
past year tho average price has been $24) per ton
1t has now advanced to 50 and the comr anies are
cons dering the proposition for further advance Of
five cents Immediately. At S, per ton the officials
of New Jersey Central claim the company can pay
all fixed charges and dividend Of per cent :, for
the above reasons that still higher figures are pre-
dicted for coal properties. It is said that several
prominent operators have large short interest in
stocks and the Osborn party are still short Erie"
A dispatch through Humans bureau says Missouri,
Kansas Texas has been leased to the Union Pacific
and Washington dispatch states that the increase
in national bank circulation for October will be 49,
100000. The Chicago l. Northwestern earnings for
the first four days of the third week in October in
creased $4,000. The earnings Of tho st. Louis h
Iron Mountain road increased $4,000 the second
week in October.
At the close transactions aggregated 100000
shares, CT which $1,000 we're Erie; 5000 Lake
Shore & Michigan Southern; $4,000 Chicago
Northwestern; $4,000 Milwaukee b st. Paul: 2e.O
Toledo 4 Wabash: $1,000 Delaware, Laokawanns b
Western; 300OO New Jersey Central; is 600 Delaware
Hudson; 10000 Morris 4 Essex; 1900 Michigan
Central; 5000 Union Pacific; 5000 Cleveland, Co.
lunbus Indiana Central; 9,0O' Hannibal h st.
Joe; 5000 Ohio Mississippi; 1000 Western Union
900 'A,la LII Pacific Telegraph; $1,000 Pacific
1000 Missouri, Kansas + Texas; 400 Northern
Pacific; 5000 st. Louis Iron Mountain; 5000 Chi
cago, st. Paul Minneapolis; 1000 Louisville l.
1000 Mobile h Ohio; 5000 st. Louis l. San Fran.
cisco; 2,ODO Kansas Pacific; 5000 Houston Texas
1000 Nashville. Chattanooga l. st. Louis; 1000
Chesapeake Ohio, and 4, 900 Quick silver.
Money &C i've at ~, closing At 7 per cent. Prime
mercantile paper 506h per cent. Sterling exchange,
bankers bills firm At 8Oh; sight exchange on New
York s3h.'
The following were the closing quotations: