Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-07-29
Eastern and European Markets.

EdStcrn ana european marketBs
New YORK, July 2S.-Money easy at 2X@
| 8 per cent Prime mercantile paper 3@4
per cent. Sterling exchange, bankers bills
weak at s4.s2H. SighG exchange on New
York, s4.s415.
Governments strong and Is to x per cent.
higher.
Unconstitutional bonds generally firm and
higher.
State securities dull.
stocks-The stock market opened strong
and continued to advance through almost the
entire day. There were, of course, occasional
slight reactions, but the general tendency was
in the direction of higher prices and at the
close, when quotations were at near the
highest points touched, the Improvement
from yesterday ranged from y to per cent,
the latter in Memphis & Charleston. Western
Union Telegraph, Missouri Pacific, Denver u
Rio Grande, Union Pacific and granger and
coal shares were also prominent in the ad
vance. The strength of speculation was due
to report that the railroad war had been
brought to an end, causing the short interest
to cover.
Inc commercial DUtIettH says. AZ tut
Stock Exchange there was continuance of
the upward reaction in stocks which began
yesterday. The stocks which advanced most
we're those in which the short interest was
largest. 1t is generally understood that Gould
and Sage manipulated the rise, and it was q
surprise to Vanderbilt. One reason for this
is that in the afternoon trunk line rates were
again reduced and Commissioner Fink was re-
ported as denying various rumors set afoat in
/ ~, of
trunk line matters is near at hand and that a
meeting had been called.
The Evening Post says: The Southwest
exchange markets are stronger and higher,
and share speculation shows plain the inter-
vention of leading Spectators who have thus
far stood aside and permitted their stocks to
be sold down according to the caprice OF sell
lers. Whether the present upward turn is
final one towards bull market is very much
questioned. There are certainly no indica-
lions on the surface that the trunk line
troubles are near a settlement. On the con-
trary Vanderbilt is quoted as saying that the
war will last until the close of navigation.
There may be a time when trunk line. stocks
In speculations of stock will be separated
from the general list, but at present they are
so interviewer with other markets that what
ever touches them affects the whole list.
Someone continues to buy them in large
news. AS Vanderbilt denies buying them, it
may be that other influential people are taking
them with view to future control. There is
nothing new respecting crops, nor Is there
any foreign news of consequence. The up
ward turn of prices is therefore the result of
other causes. A great deal of stock has been
taken out of the hands of weak holders, and
the short interest in the market has become
very large.
The transactions aggregated $4,000 shares:
Canada Southern 5000; Central Pacific 5000:
Chicago, Columbus & Indiana Central 1,2U0;
Delaware, Lackawanna 81 Western $780,
Delaware & Hudson 4, 400; Denver & Rio
Grande $500; Erie $4,000; Hannibal & st. Joe
1900; Missouri, Kansas & Texas 81 900; Lake
Shore $4,000; Louisville & Nashville $500;
Lake Erie & Western $500; Michigan Central
1000; Memphis & Charleston 1000; Missouri
Pacific $500; Chicago & Northwestern
$500: New Jersey Central $500; New
York Central $500; Northern Pacific
$1,000; Ohio & Mississippi. $500; Ontario &
Western 1000; Ohio Central 1900; Pacific
Mail $500; Philadelphia & Reading
$500; Chicago, Milwaukee & St. Paul
% 900; ST. Paul & Omaha 5000; Texas Pacific
1900; Union Pacific IL, 900; Wabash, st. Louis
& Pacific 26,0O0; Western Union Telegraph
"a 900; Central Arizona 1900; Colorado Coal
$500; Illinois Central 5000; st. Louis & San
Francisco 2,5OO