Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-05-11
EVENING Quotations.

EVENING QUOTATIONS.
Governments quiet and steady Railroad bonds
active but unsettled and generally in sympathy with
| the downward course of the stock market. State
| securities duh.
Money 506 per cent, closing active at per cent.
Prime mercantile paper 506 per cent. Sterling ex-
| change bankers bills steady at $4.85H. Sight ex-
| change on New York, $4.Ss.
Stocks-There was more vigorous and determ-
med bear assault on the stock market to-day than at
any previous time since the current downward move
| ment get in. Nearly AL stocks were attacked more
or less, but the chief demonstrations were against
Western Union, Michigan Central. Erie, the coal
stocks, the grangers and Pacific Mail. The business
was simply enormous and the decline ranged from
h07 per cent, Hannibal st. Joe, the coal stocks,
the southwestern shares, Michigan Central, Canada
Southern, Erie, Western Union Chicago & North
| western and Pacific Mail leading in the downward
movement The St. Louis & San Francisco shares
broke suddenly at the close, the preferred selling
down to 49, the first preferred was offered down to
63 and comm On to &c. In final sales g recovery of
HOh PEI cent from the lowest point took place in
some instances, although the southwestern Shares
developed great weakness and the market generally
was in demoralized condition. The demoraliza-
ton said to have spread to holders OF stocks
throughout the country, and many orders to sell out
were received by brokers. prom feature of the
market was the heavy selling movement In Northern
Pacific shares based unfavorabe intelligence con-
corning prospective legislation with regard lands of
the company In the general list of speculatives the
forenoon recorded enormous blocks sold for future
delivery, the great shrnkage In values causing alarm
among both large and small holders To assist In
demoralzing speculation various rumors were circu-
lated, and Notwithstanding these were promptly de-
lied hey 10 tho aof
nent operators engaged in breaking the market. The
market yielded readily and the decline was aided by
sales of long stock stop orders and by unloading
of stocks by those who had bou2 ht after recovery
in the market on Friday. The objective poirt sp-
peared to be coal stocks, with which Keene Is sup
posed to be heavily loaded and of which the Twenty
third street party is largely short These finally
broke and fell sharply that they appeared to have
no support, and IN fact the whole market seemed
without support until about half-past one O'Clock
wnen prices were turned up, but not until 1t appar-
emily became necessary to do il order to prevent
the market from running into panic. 1t was two or
three times the verge of such disaster, but GER
tain stocks notably Erie the southwesterns and Van
derbilt shares were turned upward, and this move
ment gave steadier tone to the market for the time
being. Since the present decline has set in there
has been constant feeding of the market with long
creasing quantities. Along with the closing out of
fancy stock, dividend paying investment securities
are making their appearance, very many customers
Of commission houses having been required to re-
pair depleted margins. The nav board of directors
of the Little Pittsburgh company has been COM
pleted By the selection In place of Messrs. Chat
fee, Moffatt, Hill and Bowerman of Nessrs. Louis
Fitzgerald, J. j. McCook, J. z. OarrolI.aDd William
Bard. The insiders" in Central Arizona are still
selling but the demand is limited and the process of
unloading slow one.
Transactions aggregated $4,000 shares, of which |
1000 Atlantic Pacific Telegraph 1000 Canada
Southern 1000 Central Arizona; 1900 Chicago Co
lumbus & Indiana Central; 750OU Delaware, Lacka-
wanna & Western; 4,70J Delaware Hudson. 100000
Erie $500 Hannibal & st. Joe; $500 st. Louis L 1
Iron Mountain; 1900 Missouri, Kansas & Texas; |
SO, coo Lake Shore Michigan Southern; 1900 Lake
Erie & Western; $500 Michigan Central; $4,000 /
Chicago & Northwestern; 10000 Nashville Chatta-
nooga ST. Louis; Is 600 New Jersey Central; $4,000
New York Central; 1900 Northern Pacific; $1,000 |
Ohio Mississippi; 7.400 Ontario & Western; 1900
Pacific Mail; lO,Ug0 Reading; 1900 Chicago, Mil
YANKEE & st. Paul. 300 st. Louis San Francisco;
5000 Union Pacific; ~, 900 Wabash st. Louis Pa
cihc; $1,000 Western Union, and 2,7O0 Cleveland,
Columbus, Cincinnati Indianapolis.
The following were the closing quotations: