Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-06
BANK STATEMENT
The following is the weekly statement of the

The following is the weekly statement Of the
New York associated banks:
Loans, decrease. ST, S23, 800
Specie decrease. ....... ....... 5,643, 400
Legal tenders, decrease. ........... 6I0500
Deposits, decrease. ................. 1884 400
circulation, decrease. .............. 1914 800
Reserve, decrease. Observation-Disclosures. z, 056 200
The banks now hold 50. 46l 1915 less than
legal requirements.
Governments strong to day. and q per cent
higher for 4s and 5s. Government bonds active
during the greater part of the week at lower
prices, the decline ranging from "a to Il per
cent, the latter in new As. The secretary of
the treasury, the editor of the Express says, is
sued an order authorizing the purchase of
$3,OOO,OOO of 6s of 1880 at $1.025s, but, up to
the close of business to-day, the government
had not succeeded in obtaining million, at
fully $1.03, the price to be paid by the treas
ury for their redemption on or after Dec. 81
There have been bids for them in the open mar
ket, the seller agreeing to loan money to the
purchaser until the first of January at per
cent. The latter thus will, by FORGETTING x per
cent, gain the use of money. The railroad
bond business has beea lighter than for many
previous weeks. the attention of investors and
spectators being absorbed chiefly by the share
list and in many instances quite decline in
prices was recorded. By far the largest part
of the business was in Erie new seconds. con-
soils. Boston, Harlem & Erie firsts and Denver
Rio Grande, Missouri, Kansas & Texas
Lehigh Wilkesbarre, Chesapeake & Ohio,
Chicago, Columbus q Indiana Central,
Canada Southern and Mobile & Ohio, which
fell off to per cent. The Texas Pacific,
Denver q Rio Grande division of frsts, and
Wabash, st. Louis & Pacific bonds were ex-
ceptionally firm in the face of the declining
market. In late dealings many of the above
named issues, notably Boston, Harlem & Erie
and Chesapeake Ohio bonds become strong
and advanced sharply. The railway and mis-
cellaneous speculation was active throughout
the week, but dealings were attended by an I'M
settled feeling, which eliminated in marked
depression and heavy decline in prices from
the highest point. The large sales of
long stocks came On the market, which acceler-
eted the downward movement. The great
stringency in general and the failure of the
Chicago q Northwestern directors to declare
the expected scrip dividend were the moving
causes of the decline in stocks and the heavy
iquidations which took place. The decline
late in the week from the highest point ranged
from TO ~ per cent, Chicago & Northwestern
and Western Union Telegraph leading the down.
ward movement. Omitted States securities
active and dealings generally at higher prices.
Stocks-The stock market opened strong
and Is to per cent, higher and subsequently
advanced a to Is per cent. At first board
speculation became depressed and decline of
d to 25s per cent. took place, Philadelphia &
Reading, st. Louis & Iron Mountain and Della
ware, Lackawanna & Western leading the
tone prevailed and prices advanced d to Az
per cent, the latter in Chicago, Burlington &
Quincy; coal stocks, granger shares Union
Pacific and Western Union Telegraph being
also prominent in the advance. During the
afternoon a reaction of Il to ~ per cent. took
place, Chicago, Burlington d Quincy leading
which was succeeded by recovery of x to 81
per cent. and at the close by further reaction
of 4 to 13s per cent the latter in Western
Union Telegraph. Tho steamer Europe
brought $1l5,S00 and the steamer Scythia
$4S,500 in foreign gold coin.
From the Evening Post (FinanciaD: The
money market to-day was decidedly less
stringent than yesterday and we have heard
of no commission abovel32 of Il per cent. per
day plus per cent. per annum, and good
many loans have been made to stock brokers
at plain per cent. This improved condition
In the money market led, early in the day, 10
q free purchase of stock, which resulted in
higher prices, although the stock market con-
tinues very feverish and at times has been
weak. The market was strong at the opening
and just before the appearance of the bank
statement, since which time to the last part of
the advance, between II and IL o'clock, stocks
were notably strong, Chicago, Burlington &
Quincy, Western Union Telegraph, Missouri
Kansas IL Texas, Chicago & Northwestern,
Chicago, Milwaukee & st. Paul and Ontario &
Western. The stocks which at times had been
notably weak, arc Philadelphia 81 Reading and
other coal stocks. United States bonds are x
per cent. higher for Is and 5s and railroad
bonds irregular. The treasury to day has OBJ
tanned 5000 of 6s of 1880 at 81 .02X Brokers
are bidding $l.03 for bonds to turn into the
treasury at $1.022S. The assistant treasurer
gives notice that the interest due Dec. 3lst,
1880, on registered bonds, act of February, 1861
6s of 1880, will be paid with bonds upon their
presentation for redemption, and that no in
terest on that loan will be paid on schedules.
Suits were commenced in the United States
circuit court, to-day, by the National bank,
Mechanics Exchange National bank of New
York, Third National bank and Mechanics
National bank against the city of New York,
praying for injunctions restraining deputies
from collecting taxes assessed By the city
shareholders in said banks.
The transactions aggregated 382, 1000 shares, of
which 2,7OO were Chicago Burlington < Quincy:
1000 Delaware, Lsckawsnna Western; II, $50 Della
ware Hudson; $4,000 Erie; 5000 Hannibal & St
Joe; 2,4o0 st. Louis Il Iron Mountain; $500 Mis-
souri,, Kansas Texas; 10000 Lake Shore; $4,000
Lake Erie Western; 3,400 Michigan Central; 29O3O
Chicago & Northwestern; $500 Nashville Ohat:a-
nooga & st. Louis; IL coo New Jersey Central: 1900
New York Central; $4,000 Northern Pacific; 45cO
Ohio Mississippi; 1900 Ontario h Western; 4SOOO
pac1hc Mail; 2l,O00 Philadelphia h Reading; 5000
Omaha; $500 Union Pacific; 1000 Wabash. ST
Louis & Pacific and $1,000 Western Union.
MORNING QUOTATIONS.