Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-20

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| per cent. per annum closing at g. Prime
mercantile paper 5119Gt7 per cent. Sterling eX-
| change, bankers bills weak at Si.7S.
| Sight exchange on New York, S4.S1.
| BANK STATEMENT.
The following is the weekly statement of
| the New York associated banks:
Loans, decrease. ..................S 5S6,60O
specie, increase. ioS,JuU
Deposits, increase. ................ ,244, 700
Circulation, decrease 10000
| The banks ncw hold 81, 08S, rs III excess of
| legal requirements.
Governments quiet and firm Railroad
bonds strong and active. State securities gen
orally inactive,
Stocks-The stock market opened strong
and buoyant and under heavy purchases the
general lstadvanced sharply, Chicago .S Alton
leading the upward movement with an adj
vance of g. per cent; Illinois Central x per
cent. but subsequently reacted > per ceut,
Chicago u Alton rcacting ~ per cent. and
| the general list 4 to per cent During the
afternoon the market was characterized by a
decidedly strong tone and the upward move
| ment in price was resumed. Speculation con
tinued strong to the close of business, the final
sales being generally at the best figures of the
das. The advance on the days transactions
ranged from = to t$4 per cent, elevated
stocks, Shenango & Allegheny, Illinois Cen
trail, Hannibal Il ST. Joe and St. Paul Il Oma-
la leading the Improvement.
The Evening Express financial writer says:
The weeks importations of gold from
Europe, were on an enormous scale, the
arrivals for the week ended yesterday being
| So, Isl 800, all of which was foreign coin and
bars. The total arrivals at the assay Office
since Aug.2 SOS, 53S, 900, of which s., 769, 600
| American coin and So, 149,300 foreign coin
and bars. The arrivals for the corresponding
period last year were So, IA, $50 Payments by
| the assay office on this account were s., 641,
600 for the week and 80, 100000 since Aug. 2.
Governments steady On quite active market,
quotations to-day showing no appreciabie
change from those of last Saturday. State
| bonds were strong early in the week but sub
| sequently some reaction was recorded in many
cases. Railroad bonds were active and buoy
ant and as Il rule, followed more or less close
| ~ in the course of their kindred shares. In
| the stock market all investment issues adj
vanced sharply and the formerly low priced
bonds, IN which by far the largest transactions
| took place, shared in the improving prices
Nearly all income, land grant and dcbenture
bonds on the list were in brisk demand and
| figured largely in the transactions. Railway
and miscellaneous speculation throughout the
| week was characterized by great ACTIVITY and
| an unusually buoyant feeling. The upward
| movement began to make progress at the
very opening and continued with more or less
| vlgor TO lhe close today, when, in many cases
| the highest quotations ever known were cur
| rent. The advance in prices for the week
ranged from 215 to 20l4 per cent, the improve
meat in most of the inactive shares having
| been generally from 4 to 10 per cent. The
| general causes at work to produce the remark
| able buoyancy Of the week were the heavy ar
rivals of gold from Europe, the easier condi-
ton of the money market toward the close,
prospect of the early passage of the 5 per cent.
| funding bill by Congress and the purchase OF
and payment for large block of St Louis &
| Iron Mountain shares. There were numerous
special causes also at work, especially in favor
OF some stocks, which made the greatest adj
vance of the week. Chicago & Alton made
a large advance on the renewal of r1mors
of scrip dividends; Chicago, Rock Island &
Pacific advanced sharply on the street Nor thar
| the dividend for the whole year had beer
earned in the first six months Lake Erie &
| Western moved up briskly on the purchases b,
the Chicago, Burlington & Quincy people
| Chicago, Columbus d Indiana Central was
upon the prospect of per cent dividend
| Wabash, st. Louis q Pacific preferred on talk
| of dividend. Canada Southern also advanced
| sharply on rumors of the forthcoming diyi
dend. st. Paul & Omaha shares figure prom
inently in the upward movement on the
! dividend on preferred and favorable statement
| Chesapeake & Ohio was firmer on the pros
Missouri, Kansas IL Texas and St. Louis &
| Iron Mountain shares are all upon a close
utilization of roads. Telegraph stocks are ex
ceedingly irregular and fluctuations were wild,
aud violent. Western Union Telegraph ad
| vanced per cent at the opening, later de
| clincd 81 per cent. and finally recovered { ne
cent. American District Telegraph brok,
from 1873 to 80, recovered to GO and reacted t,
81. Americana Telegraph :rose to Is, fell of
to 69}5 and recovered to IS. Houston IL Texa
shares, after an advance of 1515 per cent. de
clined 6l5 per cent. The Anthracite coal pro
duction for the week ending December II. wa
1853, i0l tons against 5Jt, 81 tons the SAM
time in 1879, and for the year com
mencing January |, 1850, % $50. So
tons against 25,023,416 tons in 1879
It is said the chairman of the Clearing Hons
has warned certain city banks from receiyjn,
funds Oh special deposit, and if the practice /
continued against the rules of the associatio,
they will be expelled. The amount of fin
transaction between Gould and Thomas Alien
president of the st. Louis & Iron Mountain
Southern railroad and others, is between GO. OO
and 10000 shares, and the price paid is some
thing above the market price at the time wheI
the agreement was made. The articles of in
corporation filed by Norvin Green. J. r. Edi
son, j. III. Banker and Madison Electric IIlu
mlnation company, of New York, has a capi
tai of 81 ,000,0 600.
The transactions aggregated 49S, 600 shares
OF which 10000 were Canada Southern. 2 O0
Cleveland, Columbus, Cincinnati & Indian
apolis; 1850 Chicago, Columbus e Indian
Central; 10000 Central Arizona; LOCO Chi
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