Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-11-27
MONEY AND TRADE.
FINANCIAL.
Money and Stockl

NEW 4OHAs nov LO.-6OSSEumo0tS strong ana &C.
tive Bar silver lis. Railroad bonds active and firm,
especially for Fries, Missouri, Kansas Texas and
Cleveland, Columbus & Indiana Central frss, the
Last named advancing to 81. State securities dull.
Stocks-The market opened strong and advanced
hG2Z per cent, the latter IN Delaware, Lackawanna
Western, but the improvement partially lost at
the first board. After midday speculation became
buoy ant and under large purchases the entire list
recovered an advance Of AQs5 per cent Wabash,
st. Louis & Pacific leading in the Improvement
Toward the close tho general list reacted A@1 Ter
cent but IN final sales the market became strong,
with Vanderbl'a shares and Erie the features New
York Central sold up from l294 TO 1875, Lake Shore
Michigan Southern from 1854 to l%s1S, Western
Union from 1914 to 1875, Erie from 3GA to ssh
eud Michigan Central from e35s to sS. Coal shares
and granger stocks were also conspicuous the i'm
provement. The reported transfer Of q large block
OF New York Central to the syndicate of foreign and
home brokers, had favorable influence on that
stock and the market in general. After the market
closed it was officially announced that the negotis-
tons, which have been pending for time be-
tween leading foreign and domestic brokers. repre-
sented by Drexel Morgan, OF New York, and J. S.
Morgan Co., OF London, and VIM. Il. Vanderbilt,
for the purchase OF S25,Ooo,o Of New York Cen
trail stock, were brough to successful conclusion.
1t il understood the brokers take $4,000 900 now
with option on SIC, ,O0o more at Sl.2O. Wander
bit retains large interest In New York Central
which, 1t is understood, will not be Sold, and be will
also continue In control and management of the
rosd. general sgenoy for the company will be
opened in London with J. S. Morgan & Co., for the
payment Of dividends and transfer Of stock. The
London interest will be represented by Pierrepont
and Morgan, who will soon be elected directors. The
Wabash system Of railways will be re, resented IN
the New York Contra. board by Cyrus ". Field and
Scion Humphreys. The parties to this large pur-
chase Of New York Contra stock are understood to
be August Belmont 4 Co., L. Won Hoffman Co.,
Drexel Morgan + Co., ]. & W. seigman i Co.,
Winslow, Lamer 4 Co., Cyrus ". Field, Jay Gould,
Russell ssge, and others. The effect Of the negotia-
tons on the foreign exchange market was quite
| marked, aud toward the close of the day prime
brokers' sixty days. bills offered down to soLz
it being generally believed that large amount Of
bills would be drawn against the stock most of which
Is to go to London. The effect on the government
bond market was favorable it being believed that the
proceeds Of this stock sold by Vanderbilt would be
partly invested in these securities and the remainder
in Western Union and Lake Shore l. Michigan South
ern. It Is repor ted that combination will now be
formed similar TO that OF the Pennsylvania railway
system, taking in New York Central, Lake Shore l.
Michigan Southern, Michigan Central, Canada Sou b.
ern, Toledo l. Wabash, St. Louis, Kansas City L
Northern, and perhaps other connecting roads,
New York Central to guarantee fair rate of interest
al. Erie we'll sustained under the belief that
Vanderbilt had secured large interest in it before
| parting with the great block of New York Central.
For the forty seats in the Stock Exchange there
were sixty bids. OF these ten offered sl4,C0o and
over and fifty offered $4,000. Tomorrow being a
legal holiday business will be suspended on Stock
Exchange and In financial and commercial circles.
At the close trsnsacuIns aggregated 49, shares
| Of which 10000 were Erie; 10000 Lake Shore /
Michigan Southern; II 90 oiedo i Wabash; ~ OoO
Chicago / Northwestern; 2o.ovo Milwaukee 4 st.
| Paul; $4,000 Delaware, Lackswanns Il Western
! $500 New Jersey Central; 5000 Delaware 4 Hud,
SOL; $4,000 Reading; 100 Michigan Central; 1000
Union Pacific; 3,UvO Cleveland, Columbus Indiana
Central; 30 Hannibal & 81. Joe; 1908 Ohio /
| Mississippi; 1860 Western Union: $500 Pacific
Mail; 25,C00 Wabash, St. Louis l. Pacific: 1900
Missouri Kansas & Texas; s,'U0 st. Louis Iron
Mountain 800 Louisville / Nashville; 400 North.
ern PACING; SO indianapolis, Cincinnati Lafayette
l,0UU st. Louis San Francisco, and 5000 New Yors
! Central. -
Money loaned lower from to per cent. Prime
mercantile paper 6tD7 per Sterling exchange
bankers bills weak at sou; sight exchange on New
York 83A.
! The following were the closing auotst,cn..