Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-11-25

White. WIS Diu ZJC.
Barley was rather weaker on call, though
practically unchanged in quotations, which
ran as follows: No. 2, cssh, bid 73c; No. 8, ex-
ira. Csc bid.
Bye zoe bid, being an advance of 20.
Ground feed $40, and firmly held.
Corn meal SIS.
Bran $3.50.
Live hogs steady and unchanged at s4.e5@
4.5O; dressed, do, SIS. Is for car lots.
Bsled hay Fl2 and wanted.
A New York dispatch of last evening nays:
''The dry goods business was rather quiet to-
day but the market has very strong appear
auce. Cotton goods il meagre supply and
firm. Prints quiet and steady. Ginghams
| very firm at q late advance. Wooden goods in
moderate request and steady"
Esstern and European Markets.
! NEW YoaK. Nov. 24.-Money active st 1-l6
per cent. Prime mercantile paper AGE Per
cent. Sterling exchange, bankera' bills weak
at S4S04. Sight exchange on New York
| s4.S2L In the last half-hour the rate
for call loans at the Stock Exchange
was offered down to IL per cent. The fair
rate for money today was 6 per cent, and it
was active at that. The highest rate paid by
| stock brokers was per cent, plus commits
sion of l-16 of per cent, and the lowest was
| a per cent, the two extremes representing
| speculative manipulation. The offer of d
quarter million O. 8 g 1880 was rejected BY
the assistant treasurer to-day, the price being
| above the limit fixed by Secretary Sherman.
Governments steady for IS and IS aud 15@3S
per cent lower for q "a and "a. Railroad bonds
for the most part were active and strong, tbs
| weak Issues being Chicago, Columbus & In
diana Central incomes, Indiana, Bloomington
& Western and Texas Pacific. State securities
dull.
The Stock Exchange was the scene of great
excitement today and transactions we're on
large scale and prices were whiried up with
founding rapidity. The activity of money Gid
not deter the bulls in their persistent efforts to
advance the market, but seemed rather TO stiul-
ulate them to fresh exertions. a few conser-
vative men consider that speculation has passed
| the bounds of prudence, but the bulk of capt
tai is still enlisted the bull side and the gen.
eral feeling tonight was one of confidence in
still higher prices. In detail. the stock market
was weak in the early dealings aud fell off SO
| ~ per cent, the latter in Morris 4 Essex but
brisk purchasisg movement was inaugurated
ct the first board, under the influence of which
prices advanced rapidly. The upward move
ment continued throughout the afternoon with
occasional slight reactions caused by realiza-
ton. just previous to the close, however,
money becarae easier and loaned down to u
per cent per annum. This was the signal for
| another buoyant movement in the market,
which advanced sharply TO the close. There
WAS renewed activity and excitement in the
share list and prices advanced for nearly every
| thing. Such stocks as Chicago & Northwestern,
| Chicago, Milwaukee & St. Paul, Lake Shore
| and Union Pacific rose to the highest quota
tons for many years, and in some cases to the
| highest ever known. The closing prices were
generally the bsst of the day. The improve
| ment On the days transactions ranged from
| u to So per cent, Chicago & Northwestern,
Chicago, Milwaukee & st. Paul, Lake Shore
| the coal shares, Erie, Nashville, Chattanooga d
st. Louis and Chicago, Burlington & Quincy
| leading in the advance. A rumor prevailed in
| street circles that the Chicago & Northwestern
railroad would be operated in close connection
with the Lake Shore & Michigan Southern. aud
that stock dividend would be paid on both
classes of Chicago & Northwestern. 1t was
reported this afternoon that powerful bull
pool had been formed to twist the shorts in
Chicago & Northwestern, Chicago, Milwaukee
& st. Paul and New York Central. 1t WAS ru-
mored that Russell Sage was caught largely
short and that number of his friends were
| in the same predicament. Advices FROM the
end of the track Of the Southern Pacific rail-
way in New Mexico, state that the rails are
laid now to and beyond the proposed point of
junction with the road to Santa Fe, and are
being continued to the Rio Grande at Ell Paso,
40, 600 feet being laid in three days last week
1t is expected the Texas boundary will be
reached by New Year. The road is open for
business to Rio Aimbres, L. 900 miles east of
San francisco. Chicago & Northwestern earn
ings increased $4,000 the third week in No
vember. The Chicago. Milwaukee & st. Paul
railroad gained $4,000 and the st. Paul &
Omaha $4,000 during the same period.
The following is from the Posts financial
article: The money market continues active
and per cent. is the ruling rate on loans Sc
| cured by stock collsterals. At this rate good
borrowers have no difficulty in supplying Their
wants, the only class which thus far feels The
pinch being spectators who are operating or
slender margins backed by stop orders, and
|
, to their ability to lend them to other specuIa
tors who are short of the market. Six PEI
/ cent is to-day bid for the remainder of tn,
wear, and we hear of additional commission
being paid. Prime mercantile paper is dull
and the quotation is 1906 per cent. TIL
stock market, which yesterday had an irregula
but generally weak closing, opened in the sam
way this morning, bat it was soon evident tina
the condition of the money market was not t.
be permitted to influence bull speculation, ant
after few moments of weakness the stool
market became strong, and up to the time W
write prices have been advanced 11lM5 pc
cent, the latter in Chicago 81 Northwestern
/ common; the preferred has advanced 2T pc
cent, Michigan Central ~ per cent, Unio
Pacific rs per cent. Chicago, Burlington
n Quincy, Delaware, Lackawanna & Western