Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-17
Eastern and European Markets.

New YORK, Dec. 16.-Money ranged firm at
q per cent per annum and 1-32 per cent. per
| diem, to 5 per cent. per annum, closing at
per cent. per annum. Prime mercantile pa
per 5(G7 per cent. Sterling exchange, bank
ers' bills steady at $4.7S14. Sight exchange
on New York, $4.S14.
Governments quiet and firm. The treasury
bought $4,000 of 6s. A prominent Nassau
street banking firm is said to have already re-
ceived subscriptions i'll advance for more new
B per cent. bonds to the extent S20,000,000 A
prominent foreign legation has loan sub
scribed for $50, 900 of these securities, and the
whole loan promises to lie readily taken with
in short time after the bonds are ready for
delivery. The features of the railroad bond
market to-day were Lake Erie s. Western in
come, which advanced to II from 6S; Canada
Southern first guarantee to 1887 from 1919;
Chesapeake & Ohio first series to sS3s from
1874; Chicago, Milwaukee & st, Paul, Chicago
d Pacific division, to 1921 fromss07; Cedar
Rapids & Northern firsts, to 80 from 9S; Inter
national & Great Northern second income, to
80 from IS; New Jersey Central income, to 9411$
from 9319; Texas 81 Pacific income land grants
Is, to rs from 1914; st. Paul d Omaha consols
to 103, and Missouri, Kansas 81 Texas consols
assented to 112 from 11114. Erie consols, sec
onds, sold up to 9S5s; Denver & Rio Grande
| firsts to III; do consols TO no. Canada South
ern 1irsts were in demand and sold up to 103.
Stocks-The stock market opened strong
and in the early dealings prices advanced ia
1919 per cent. the latter in Houston & Texas,
st. Paul 81 Omaha and granger stocks being
also prominent in the improvement. Subse-
quently the general list reacted 1S0l116 per
cent, and Houston Il Texas ~ per cent.
Toward noon speculation again became strong
and under the leadership of Chicago, Rock
Island d Pacific an advance of 1407 per cent.
took place, and was followed by a reaction of
1@2 per cent, Chicago, Rock Island & Pacific
and Pacific Mail leading. During the after
noon the general list was very firmly held I'M
til the close, when prices fell off fraction
from the highest point. Western Union Telc-
graph was heavily pressed for sale and declined
4 per cent. on the days transactions Specu-
lation was unusually active throughout and
large blocks of leading shares changed hands.
At intervals the dealings were attended with
much excitement. st. Paul d Omaha shares
were the prominent feature of the day. There
were large purchases of these shares, the pre-
ferred being taken freely, because it is the only
stock paying quarterly dividends of "a
per cent, that is now selling under par St.
Paul, Minneapolis s. Manitoba railroad earn
| ings the first week of December show an in
| crease of $40, 461, and the Denver & Rio Grande
gained $4,000 the second week in the same
month. The Homestake Mining company is
out with another double dividend. Central
Arizona was pressed for sale and declined to 5.
| There was rumor current on the street TO-
| day of the formation here of new great rail
| way company with capital of S35, 600 600 of
| stock and $25,000,000 in bonds, which pro-
poses to extend the Wabash, st. Louis & Paci-
tic system of roads into Wisconsin, Iowa, Min.
nesota and Dakota. Dispatches from Boston
report that the Chicago, Burlington & Quincy
people are buying st. Louis & San Francisco
| stock.
J. The Evening Post says: The stock market
is strong, with the exception of the telegraph
stock, which sold to-day at the lowest price
yet asked for them, Western Union having
failed to SOL. OF strong stocks the features
have been Chicago, Rock Island e Pacific
which advanced to 13S, equivalent to 2116
per cent for the share capital of wear ago
st. Paul IL Omaha, which has advanced TO
4SA995, reports, which identify the the
company in the early future with the Chicago
& Northwestern; Lake Erie g. Western, TO
45% from 3S5s; Pacific Mail, to 81 from 5215:
Hannibal & st. Joe, to 461 from Az for com
mon, to 9S19 from 96335 for preferred; Chicago,
Milwaukee IL ST. Paul, to 1134 from 112.
Chicago & Northwestern, to 125 from 12415
Michigan Central, to 1905 from 1195S, and
New York Central, to 1863 from 1441S.
Houston & Texas closed yesterday at 65T.
opened to-day at Is, advanced to 7615 and
since declined to 20. st. Louis & Iron Noun.
tain has been very quiet at 81 q. Wabash, st.
Louis q Pacific and Missouri, Kansas O. Texas
are very quiet. Union Pacific was low and at
times strong andagain weak 1t is said Drexel &