Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-30
Eastern and European Markets.

paper sac per cent. Sterling exchange, bank
ers' bills steady at S4.S0l4. Sight exchange
ON New York, S4.S3.
Governments dull but firm. The treasury
to-day bought S64, 900 of Us of 80. In the rail
road bond market the features were Lake Erie
x Western incomes, which early declined Il
per cent TO 6S$I, but in late dealings became
strong and advanced TO -; Boston, Hartford
Il Erie tirsts, which early declined IA per
cent. to IS, recovered to 40; International Il
Great Northern second income first declined y
per cent to S615 and later advanced ~ per
cent. 10 S.; Denver IL RIO Grande firsts early
advanced | per cent TO 116, later declined IL
per cent TO ll4H, and recovered to lis; Texas
x Pacific firsts, Rio Grande division, declined
to 9S from 991+ and recovered to 9S3I. State
securities fairly active. The assistant treasurer
to-day paid out over $4,000 on account of
The January interest. There is considerable
opposition expressed in Wall street to the pro-
posed manner of quoting prices or rates for
sterling exchange on the first of January next,
aud some of the largest banking houses in the
State have signed a remonstrance, claiming
that the old plan is now well understood and
change will be found veXatious and compli
Gated Subscriptions to bonds and stocks of
the Mexican National Railway Construction
company were opened, yesterday, at the office
of Woerishoeffer Il Co. They amount to
Sc, 000, 900 and it is expected that considerably
more than the amount required will be sub
scribed before closing the books tomorrow
Large subscriptions were received from Europe
to-day. ST. Paul, Minneapolis & Manitoba
II il, ID
s56,9l6; and those of the Flint & Pere Mar
quette, same time, $3.50. Hannibal & St.
Joe directors declared dividend of So per
cent. on preferred stock. The statement for
The year shows there will be surplus, includ-
ing proceeds from the free lands, of S135, 4S3
after paying the dividend.
From the Evening Posts financial article
or the total issue of 6s of 1880 which arc due
with the close of this month, there were
bought during December s., 900, and of
this sum 81 ,973 900 were bought at $1.02X,
the remainder having cost the treasury S1.033l.
During 1880 the treasury bought of United
States bonds sos, 800. Thus over $780,
600, 600, money invested in United States bonds,
having been turned adrift during the year and
been obliged to seek other investments, is our
secret for the absorption of interest bearing
securities. This investment demand for
prime securities, which has averaged about
>, OG0, 000 per week has been powerful aid to
the speculation which has advanced prices SO
enormously. The pre- payment of the January
interest is making good Roadway, the sub
treasury having debit at the clearing house
Of IS, 100000 dispatch from Washington
says that already S1,000,000 of 6s 80 have
been sent there for the payment at maturity
Of principal and interest at S1.03 The money
market is naturally enough active, as a result
Of the beginning Of the calling in of loans by
corporations which have interest and dividends
10 pay out at the beginning of the year. The
greater part of the money to be so paid is now
on call. Early in January it will return to the
market, \ report is current that negotiations
are pending between the Western Union Telc-
graph and American Union Telegraph COM
panics On inquiry, we find the report TO he
without foundation.
Stocks-Thc stock market opened strong and
in early dealings the general list advanced 4
toll = per cent, butt lt thesfrst board rather
free selling movement caused decline of 4 to
~ per cent, Michigan Central, Central Pa
leading the decline During the afternoon
speculation again took en- upward turn and
continued strong to the close, when the high
est figures of the day were generally current.
The final dealings showed an advance in prices
ranging frem 4 to 5 per cent in the general
list, Lake Erie & Western, New York Central,
Western Union Telegraph, Denver e Rio
Grande, st. Louis & Iron Mountain and Man
haitian Elevated being the most prominent
Louisville, New Albany & Chicago rose 10
per cent, reacted and recovered 23l per cent
Chicago, Rock Island &c Pacific rose g per
cent. and reacted per cent
The transactions aggregated So, 900 shares,
of which 1000 were Chicago, Burlington &
Quincy: 1900 Canada Southern: $500 Cleve-
land, Columbus, Cincinnati & indianapolis; l.
100 Chicago, Columbus & Indiana Central; !, 500
Chesapeake 81 Ohio: $4,000 Delaware, Lacka-
wanna d Western; 1000 Delaware & Hudson;
$500 Denver &c Rio Grande; $1,000 Erie; 6, 400
Hannibal & St Joe; 1900 ST. Louis & Iron
Mountain; 5000 Missouri, Kansas & Texas;
1000 Lake Shore; Il 900 Lake Erie & West
crn; 1000 Louisville Il Nashville; 5000 Mch-
gan Central; 5000 Chicago & Northwestern;
l,S00 Nashville, Chattanooga d ST. Louis;
1900 New Jersey Central; $4,000 New York
Central; 5000 Northern Pacific; 400 Ohio &.
Mississippi; 1000 Ontario & Western; $500
Pacific Mail; 5000 Philadelphia & Reading;
II ,NG0 Chicago, Milwaukee Il ST. Paul; $500
St Paul & Omaha; $500 Union Pacific; % coo
Wabash, St Louis d Pacific; 80, 0O0 Western
Union: 5000 Central Pacific; 1850 Chicago,
Rock Island & Pacific and 1000 st. Louis d
San Francisco.
MORNING QUOTATIONS.