Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-08-04
Eastern and European Markets.

ssNEw YORK, Aug 3.-Money easy at 2H @
8 per cent. Prime mercantile paper 3@4
per cent. Sterling exchange, bankers bills
at a. S2114. Sight exchange on New York,
s4S44.
Governments strong and Il per cent. higher.
Railroad Enthusiastically firm
State Securites-Duil Louisiana consols
became suddenly buoyant toward the close,
and the price rose on brisk demand, TO zoe,
an advance of 9 per cent. for the day, with
later sales at 69%c. This rise was one of the
leading features of the afternoon on the Stock
exchange. Within about month London
which seem taken for New Orleans account.
Stocks The market opened strong and GEN
orally higher in early dealings, and advanced
: OPS per cent, coal shares leading in the
i'm 1rovement. Abont midday there was a re-
action of 4@1 per cent, which was followed
By another advance of @2A per cent, which
was marked in Philadelphia 81 Reading. At
the second board speculation became weak
and fell off slightly, closing sales being at
decline from the highest point of 4 @14 per
cent, Philadelphia & Reading, New Jersey Gen.
trail, Missouri Pacific, Michigan Central and
Ashtabula & Pitts burgh being the most prom
inent therein. A statement of affairs of the
Philadelphia & Reading Railway company,
with the outline of plan for readjustment
of its Indebtedness, was submitted by the
president and approved by the board of direct
ors 1t was then referred to special commit
tee, consisting of the president and Messrs.
Welsh and Shipley 10 perfect the details. to re-.
port Wednesday next, prior to submitting it
to the creditors and shareholders.
The ErpreSs says: The proposed issue is
500, 100000 bonds, 100000 Of which are
to bear * per cent. interest and SAC, coo, 0C0
per cent. interest, and all to pay up to per
cent. if earnings warrant it. These bonds are
to be substituted for bonds already in exist
ence and other indebtedness, and with them is
to be given a stock bonus of about five
shares for 10000 bonds, which would raise
COO, COO. The total capital of the concern un-
der this arrangement would be s50,000,000 of
stock and something over SIC, GOO 600 in bonds,
as the proposed issue of bonds would not be
large enough to cover all present bonds and
Indebtedness The rise in New Jersey Central
was partly sympathetic, but chiefly due to
heavy purchases by insiders on the earnings
and prospects of the road being taken out of
the hands of receiver. The Express says,
also: The prospects of imports of gold from
Europe are now being actively discussed in
financial circles. 1t has been stated for some
days that ei0 ,000 has been shipped from Lon
don to prominent foreign banking institutions
here; but we believe NO official notification of
any such shipments has yet been received.
Very few cotton bulls are offering for future
delivery, but when these come into the mar
ket more freely, or with even slight increase
in our exports of produce and securities, bank
sterling would take another drop, and then
this years influx of gold would begin, q move
m at which it does not seem can be much
longer delayed. The cut to S. from Chicago
to Boston by the Grand Trunk railway, did not
depress values, for the reason that the reduc-
ton was looked upon as likely to hasten a
settlement.
The transactions aggregated $4,000 shares;
Canada Southern 1900; Central Pacific 1,500;
Delaware, Lackawanna & Western, 1900;
Delaware & Hudson $500; Denver & Rio
Grande $500; Erie $4,000; Hannibal
Texas 1880; Lake Shore o 600; Michigan
Central, 5000; Memphis 4 Charleston, IA COG;
Missouri Pacific $500; Union Pacific, 5000,
New Jersey Central 1860; New York Central,
1900; Northern Pacific, 5000; Ohio s. Mis-
cific Mail $500; Peoria, Decatur & Evans
Chicago, Milwaukee & st Paul, 1900; St.
Paul & Omaha. 1900; Texas Pacific, 1000:
Union Pacific 1000; Wabash, St. Louis s.
Pacific, 1900; Western Uuion Telegraph.
20,aj0; Central Arizona, 1900; Colorado Coal,
, 5a0