Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-18
Eastern and European Markets.

Yarns and fabrics at Manchester firm; tend
ing upward.
Eastern and European Markets.
New YORK, Dec. 17.-Money 3@6 per cent
per annum; closing at 5 per cent. Prime
mercantile paper 6@7 per cent. Sterling ex-
change, bankers bills strong at S4.7S11s.
Sight exchange on New York, S4.s115.
Dry goods imports for the week, 81 3d., O0O
Government quiet but firm In the railroad
bond market Chicago, Milwaukee g. st. Paul
consels advanced 2N per cent. to 1875; Cleve-
land, Columbus, Cincinnati & Indianapolis con-
soils 2 per cent. to 119; Chicago 81 Northwestern
registered gold bonds IA per cent to 1877;
Indiana, Bloomington & Western income Ia
per cent. to 67al; Missouri, Kansas e. Texas
seconds ~ per cent to 1873; Rome, Watcrtown
Il Ogdensburg consolidated firsts 2 per cent
to II; International & Great Northern second
income per cent. to soc; Chicago & Eastern
Illinois income = per cent to So =; New York
Central coupons trsts, per cent. to 1871; San
Francisco class 8. per cent. to IS; Texas
& Pacific iirsts, Rio Grande division, l. . per
cent. to 96T, and Union Pacific firsts per
cent. to ICY. State securities dull.
Stocks-Thc stock market opened strong
and in early dealings prices advanced 4@4
per cent, the Chicago & Alton, Burlington,
Cedar Rapids & Northern and st. Paul e.
Omaha leading upward movement. This was
followed by reaction of 1s@14 per cent,
but during the afternoon speculation in Rome
Watertown & Ogdensburg took an upward
form and under heavy purchase prices adj
vanced steadily to close of business, when
highest figures of the day quoted were
generally current. The advance in general
distribution as compared with yesterdays
closing prices, ranged from = to
6 per cent, the latter in Chicago
d Alton, Wabash, St.Louis e. Pacific Kansas
Il Texas and St. Paul g. Omaha the granger
stocks; Burlington, Cedar Rapids & Northern,
Texas Pacific and st. Louis & Iron Mountain
being also prominent in the advance. The West
ern Union Telegraph company was very large
ly traded in, and after an early decline of per
cent. advanced under heavy purchases AZ per
cent. and closed at the best figures of the day.
The transactions in the last named stock were
enormous. Single lots of nine and ten thou
sand shares changed hands. The Delaware,
Lackawanna 81 Western Railroad company
will, on Monday next, probably declare a quar-
tery dividend of q per cent. The general
manager and traffic agent of the Erie railway
says that company has fully three months
freight business in sight and secured, and
transportation is larger than ever before
known. The Erie railway people now begin
to think that the earnings for the new fiscal
year will reach $50, 900, which will render
certain payment of Z per cent. on preferred
and per cent. on common stock The ND
ward movement in stocks received stimulus
from the easier condition of the money market
and advices from Washington that the Senate
had refused to agree to the House resolution
to adjourn over the holidays, which was inter-
preted to mean an effort to secure the passage
of the 3 per cent funding bill, and purchases
were made to cover short contracts in the
same Of the leading shares among mining
shares Central Arizona was the feature The
stock was largely traded in from 616 down to
~ and up to 533S, closing 5. The Herald has
the following regarding the recent course of
this stock: We had occasion to say day or
two back that in their attempts to tumble
regular prices, speculative stockholders stood
fair chance of losing control of the property.
If it be true, as is stated, that very conspicu-
Gus operator not far back resident of the Pa
cific slope, has bought extensively of the stock
at the present low prices, our forecast may be
unexpectedly near of realization. The pay
ments by JAY Gould for a controlling interest
in the st. Louis & Iron Mountain railroad and
in International, Great Northern & Texas,
will probably set afoat several millions of
dollars. A dispatch from Washington saws
the banking and currency committee, by
two-thirds vote, refused to report favorably
bill taking away the legal tender quality of
United States notes. The earnings of the
Chicago, Milwaukee & st. Paul railroad in
creased $1,000 the second week of December;
the Eastern division of the Northern Pacific
gained $4,000 and st. Paul Il Omaha $4,000
n the same period; Nashville, Chattanooga &
st. Louis earnings increased $25S,OOO from
January 1st to December 1st
From Evening Post article: Money market
is per cent, which has thus far to-day been
the uniform rate for call loans, and there is
much less difficulty in getting money than on
yesterday. There is undoubtedly good deal
to urge in the way of transferring money from
the high priced to low stocks. For instance,
where several large sseculators, selling one
half of the Chicago IL Northwestern which |
they had, and on which they make profit |
of 80 to 40 points, and calling
money in st. Paul d Omaha, which it is quite |
likely in the not remote future to become part of |
the Chicago Il Northwestern system. South |
western stocks are also attracting attention !
and are likely to be benefited in price by a |
combination scheme on foot, which will re- |
duce expenses to the minimum. 1t is said the |
st. Louis IL Iron Mountain and Missouri, |