Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-03-10
Eastern and European Markets.
Mr.1r YQuR Afarah O -MGnax, At On

Eastern and European Markets.
New York, March 9.-Money easy at 3@6
per cent, closing at 8 per cent.
Prime mercantile paper 5@6 per cent
Sterling exchange, bankers bills weak al
s4.792l. Sight exchange on New York at
S4S2
Governments firm for all issues except f1ves,
which are a per cent. lower.
Bonds-In the railroad bond market bonds
were irregular and generally higher, with the
largest transactions in Texas 81 Pacific income
land grant sevens, which declined q per cent.
to TAX and later recovered to Is. Other
changes were as follows: An advance of X
per cent. in Lake Erie 6, Western firsts; per
cent. in Chicago, Columbus & Indiana Central
incomes and Wabash, St. Louis & Pacific gen.
eral mortgage skies; u per cent. in Indiana,
Bloomington & Western seconds, Missouri,
Kansas & Texas consols assented, St. Louis &
Iron Mountain seconds and Louisville & Nash
vile general mortgage skies and seconds; Il
per cent. Metropolitan Elevated and Ohio Cen
trail firsts, and Is per cent. Missouri, Kansas &
Texas second consols. There was a decline of
2 per cent. in Ohio Central incomes; per cent.
in Rome, Watertown & Ogdensburg firsts and
Chicago, Milwaukee & st. Paul consols; q
per cent. in Chicago, Burlington & Quincy
sevens and Boston, Hartford & Erie frsts, and
| Il per cent. in Erie seconds, new consolidated
State securities dull and nominal.
Stocks-The stock market opened irregular,
but in the main weak and lower, and in the
early dealings New Jersey Central fell off III
per cent, while the general list yielded frac-
ton. At the first board speculation was very
dull but frmer tone prevailed, which con-
tnued throughout the afternoon up to the
second board, when the highest figures of the
day were touched. The advance ranged from
4 to 34 per cent, the latter in New Jersey
Central. Coal shares, Western Union Tele-
graph, Chicago, st. Louis & New Orleans,
Chicago, Columbus & Indiana Central and Pa
cifc Mail were also prominent in the improve
ment Subsequently the market became weak
and closed at reaction of Il to ~ per cent,
the decline being most prominent in Chicago,
Milwaukee & st. Paul, coal stocks, Pacific
Mail, Chicago & Northwestern and St. Louis d
Iron Mountain.
From the Public, 10th: Exchanges of New
York last week were the largest ever known
Outside of New York the exchanges were the
largest ever known except for the first week
of the year, and the first week of December,
1880. In short, business is at very high
| water mark. The dealings in stocks amounted
to 3, 1862 $50 shares, and notwithstanding the
| falling prices the average price was high. The
market value of stocks sold amounted to
S721 ,641 ,019 Outside of New York exchanges
| amounted to S2S0,4S1 ,179. The volume of
business in February was surprisingly large in
view of the peculiarly unfavorable weather
which prevailed over the greater part of the
Northwestern States. Though the transac-
tons last year were enormous in February and
prices have since declined materially, the re-
turns don't show important losses at any
point, nor is there single city at which the
| decline in exchanges has been as large as the
decline in prices. The increased exchanges at
| New York in February were largely due, as it
was in January, to the extraordinary trans
| actions in the stock market.
| The Post says: Stock exchange markets
were nearly as dormant as possible until the
assistant treasurer opened his offices to sell
| bonds to the treasury. The speculative market
then became active and strong and stocks ad-
vanced. The amount of bonds offered the
treasury was Sl4, 49,, $50. The per cents were
offered at 100.75 to 10l.53, and 6s at
102 to 102.46. Enough bonds were offered
below the current market price to enable the
treasury to buy more than asked for, provided
the secretary is willing to pay above par and
accrued interest.
EA Washington dispatch says the secretary Of