Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-03-31
MONEY AND STOCKS.

MONEY AND STOCKS.
Jay Gould Soon to Have About 10000
Miles of RaiIw ~ Under His Controi-fhe
New York Money Market Tightening, but
Stocks Active and Flrm-An Easier Money
Market NEUTRALITY-SUSPICIOUS. Reports
of Western Railway Traffic.
ST. PAUL, March 80.
Eastern exchange is sold here at u per cent. prem
ium and Sterling, small bills, at $3.50 New A, gov
ernment bonds are quoted here at 1861 and new AVS
at 10TH.
Saturday New York exchange sold at the following
rates at the aforementioned cities: Boston Csc dis
count per 3d. 600; Chicago eO075c discount and st.
Louis 75c discount.
According to the Financial Chronicle Jay Gould
controls s16S miles Of railroad and is seeking to &C
quire control in Ohio and Indiana of 1922 miles ad-
ditional Col. Scott's Pennsylvania Central system
has mileage of $500 and the Vanderbilt roads are
1887 miles in length, including the Chicago North
sufficiently large to entitle him to deciding voice in
Its management.
The Southern Pacific railroad (of California; has
been completed from San Francisco to Tucson, Arizo-
na nearly 1000 miles from San Francisco leaving not
mJre than 400 miles to be built TO connect with the
Atchison, Topeka l. Santa Fe. Tucson. by the way,
was settled by whites 3s8 years ago, or nearly 100
years before Boston and New York. 1t had 40 i'm
portance except a mission until the mining inter-
ests began to be developed, a few years ago. Its
present population is about 5000.
we're expected to check speculation in stocks and
limit the operations of the stock board but further
advance of loans yesterday did not have that effect
On the stock board an easier money market was pre-
dcted and the continual reports of increased traffic
and earnings western railways served to maintain
confidence In stock values. The demand for invest
ment securities appears to be steady and quite
large.
Imports are being greatly increased while exports
are somewhat less than last year; 30 that the ba-
ance Of trade" is likely to be wiped out this year.
New York and Foreign Reports.
NEW YORK, March 3O.-aovernments generally
firm, but AVS were a per cent. and IS coupons "
per cent. lower. Bar silver 81 "a. Railroad bonds
fairly active and firm. State securities dull and
nominal.
Money loaned up to per cent. per annum and lis
per cent. per diem, closing at 6@6 BIG per cent
Prime mercantile paper SOC per cent. Sterling e1-
change, bankers bills depressed at SAX; sight ex-
change on New York STU.
Dry goods imports for the week, 1921 500.
stocks-The market was generally active and buoy
ant throughout the day, with an advance In prices
ranging from H@4ss per cent, New York Central,
Lake Shore & Michigan Southern, Pacific Mail, Ohio
l. Mississippi, Burlington, Cedar Rapids Northern,
Manhattan Elevated, Western Union and Chicago &
Rock Island leading in the upward movement. The
general list closed at reaction Of 1HG1as per cent
from the highest point. Burlington, Cedar Rapids
Northern declined from 7SH to 72 and recovered
to TN Nashville, Chattanooga & st. Louis dropped
from 80 to rs and recovered to 1885. There were
several at work to produce this improved con-
dition, among them the belief that money would
soon be easier; that Of the operators hereto
fore on the bear side had turned bulls and favorable
reports of railroad traffic in the West. The immedi-
ate occasion of the advance In New York Central
was, first report that the syndicate had disposed
OF their remaining balance Of $4,000 shares, and
second, that the next quarterly dividend would be
az per cent The other Vanderbilt properties were
all higher. Vanderbilt, it is reported, now holds
1871, 600 shares of Lake Shore Michigan Southern
and D. o. Mills $4,000 shares the latter having had
10000 shares registered in his name last week. 1t is
claimed by the bulls il Erie that the company will
recover fully 900 on settlement of the Nc
Henry Beshafsheim suit st. Louis & Iron Mountain
gains 1923 600 for the third week of March. and the
Louisville Nashville earnings increased S33,)VO for
the same time.
At the close the transactions aggregated 214, 900
shares, of which 400 Burlington, Cedar Rapids
h Northern; 1900 Columbus, Chicago 4 Indiana
Central. l3,UOU OeiaWare LackaWanna q western
1900 Delaware Hudson; 81 900 Erie; IA, 600 Hanni-
bal & st. Joe; 1900 Houston 4 Texas; $4,000 st.
Louis Iron Mountain; LOO Illinois Central; $500
Missouri, Kansas Texas; $500 Lake Shore l.
Michigan Southern; 1000 Michigan Central; $500
Chicago & Northwestern; 1000 New Jersey Central Z;
1870 Nashville, Chattanooga st. Louis, closing
at 78A 1000 Northern Pacific; 400 Ohio 4 Msss-
sippi; 400 Ontario Western, closing at 26n; 81,
o Pacific Mall 10000 Milwaukee l. st. Paul; 100
Chicago st. Paul l. Minneapolis; 1900 Union Pa
cifc; 1900 Wabash, st. Louis 4 Pacific; 11,000
Western Union, and 26, 600 New York Central.
The following were the closing quotations: