Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-03

closing at 6 per cent. Prime mercantile paper
596 per cent. Sterling exchange, bankers
bills strong at $4.79ll. Sight exchange on New
York S4.Sl1S.
Governments quiet but firm. Railroad
bonds active but irregular; the important
changes were an advance of X per cent. in
Chicago, Burlington & Quincy Is and St. Louis
& Iron Mountain seconds preferred income, ~
per cent. in Erie fund fives and per cent. in
Lake Shore registered firsts. Missouri, Kansas
4 Texas seconds in the morning advanced u
per cent. to IL, but in the afternoon declined
to 20 and the International & Great Northern
seconds income to $50. State securities dull.
There was ruling demand for money through
ont the afternoon and the ruling rates were Is
to Il per cent. per diem in addition to 6 pei
cent. per annum. Just previous to the close
loans were made at & to 31S per cent. and
after o'clock some loans were made a. plain
per cent.
S.ocks-The stock market opened strong
and advanced 4 to per cent. 1t subsequent
ly declined 4 to rs per cent. and later ad-
vanced 4 to IA per cent. Toward noon
speculation became depressed and heavy
shares, which resulted in steady decline in
prices. the downward tendency continuing
through the afternoon and late sales showed a
decline from the highest point of Sas per cent.
in Chicago & Northwestern and d to per
cent. in the general list, the latter in Delaware
d Hudson. In final dealings frmer tone
prevailed and the market closed at recovery
of & to Is per cent. There were rumors of
settlements of short contracts in Chicago d
Northwestern common late in the day and the
weakness of stock WAS ascribed to these
rumors. Nothing definite, however, md be
ascsrtsined in regard to the matter. The
Graphic says: Gould's friends say that he has
fully decided to retire from the Union Pacific
directory at the next mseting. 1t is stated
stated that the cause of his retirement is be-
cause of disagreement and opposition from
the officers to the proposed consolidation with
the Central Pacific railroad. Nearly all the
journals have fallen into error IN reporting a
great decline in Louisville, New Albany 4
Chicago shares on the payment of 20 per cent.
cash. a dividend of 10 per cent. in first
mortgage bonds was recently declared. The
present stock is selling extra dividend. The
market value with the dividend is about 81 0S.
The Bulletin says: Notwithstanding the
hopes of yesterday that the ''m onsy squeeze
had culminated, there has been no day when
borrowers have paid higher rates than to-day,
nor when there has been greater difficulty in
getting loans. large part of the money Dor
ro~ed on Stocks to-day cost commission, and
yet with this money market, the rates
for bills on London were advanced half a cent
for sixty days and full cent for short one
day remittances. 1t looks as if the limit of
utilizing London capital to support New York
speculation was not far off, as we know that
several influential foreign bankers to-day got
word from London that anything like contin.
nance of the present moveme Mt of gold from
London here would be met by decisive action
on the part OF the Bank of England.
The transactions aggregated $4,000 shares, OF
$50 Chicago, Columbus & Indiana Central
$1,000 Delaware, Lsckawanna & Western; 5000 Della
b Hudson; $1,000 Erie; 500 Hannibal / st
Joe; 2,400 st. Louis & Iron Mountain; 1900 Mis-
souri,, Kansas Texas; $4,000 Lake Shore; 2,7Ot
Lake Erie Western 5000 Michigan Central; .0Gt
Chicago & Northwestern: $500 Nashville, Chatta
nooga st. Louis; 1900 New Jersey Central; IL 00t
New York Central; $500 Northern Pacific; 2,7Ot
Ohio Mississippi; $4,000 Ontario Western; 500t
Pacific Mail; 5000 Philadelphia & Reading; 30U
Chicago, Milwaukee & st. Paul; 1000 st. Paul {
Omaha; 1900 Union Pacific; 5000 Wabash. st
Louis Pacific; 1000 Western Union and Il, 00
Marietta Cincinnati first prererred.