Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-11

Mobile & Ohio seconds to 81 from SO,
and Chicago, Burlington d Quincy to
1 .2S from 1.29. State securities dull
Stocks-The stock market opened strong
and unchanged, and under heavy purchases
the general list advanced sharply, the upward
movement continuing without impo rtant in
terruption until the 2 o'clock board, when the
improvement in prices ranged from q to ~
per cent, telegraph shares being the most
prominent therein, American Union Telegraph
selling up 7s1 per cent, Western Union Tele-
graph 81 per cent. and Atlantic d Pacific
Telegraph 31s per cent. Chicago, St. Louis II
New Orleans first preferred rose 5ss, Canada
Southern 4sss, PacificMail S11s and Philadelphia
Il Reading 3 per cent. In the late dealings
sales to realize profits caused reaction of
| H@11s per cent, the latter in Chicago u
Northwestern preferred. The Graphic says:
The books of the Hannibal & st. ice close to-
day for the payment of the semi-annual divi-
dend on preferred stock. After paying the
two dividends on preferred stock, surplus Of
above 100000 on the operations for the year
1880 will remain. The management have now
decided to adopt the plan that was intended
at the last report for recognizing the funded
debt, and the necessary preliminaries are in
process of being TAKEN. A consolidated mort
gage of $S,0O0,00O, at + per cent, is proposed
on the 306 miles of road owned by the CON-
pany, which will finally reduce the first
charges $4,000 below those now paid. The
value of land notes reverting to the company
after paying off the balance of the land grant,
is estimated as follows: Land notes to be re-
turned by trust company, after paying off the
remainder of the bonds, 10000; estimated
value of $1,000 acres of free land, 100000;
outlying lands, $4,000; total land assets,
$267, 800. These assets will soon return to
the company and their income will be applica-
BILE to dividends, SO that with the fixed charges
reduced $174,000, permanent dividends are
assured on five millions of preferred stock.
Without this income the road has earned divi-
dends for preferred stock and carried over be-
sides surplus of 100000. In the past two
years the main line between Quincy and Kansas
City, 226 miles, has been read with steel
rails, all excepting twelve miles; floating
debt of $S,0O0,000 has been paid; the equip
ment has been brought into first-class condi-
ton; the bonded debt has been reduced by the
cancellation of $67, 600 of bonds due February
list, 1879 Of the $S72,O00 of land grant
bonds issued, $4,000 have been retired by the
land department. The receipts, after paying
all interest due January 1, leave the COM
pany to start the year with $500, 900
in bank in this city and with
heavy and increasing business. The above
statement is official. The Chicago, Burlington
& Quincy people in Boston are credited as
buyers of Hannibal & st. Joe preferred from
80 up to the present figures. Shorts in West
ern Union Telegraph have been terribly twisted
by the last rise in that stock. The losses of a
prominent operator who is an intimate friend
Of Vanderbilt are estimated at $500, 900, q
relative of the latter lost 100000, and Broad
street broker lost the same amount A promi-
nent New street operator lost $4,000, and
former partner of Gould dropped $4,000
on the deal. 1t is stated that Jay
Gould, Gen. Palmer and DR.. n. Green,
of the Western Union Telegraph company,
held private conference on telegraph matters
late Saturday afternoon. 1t is rumored that
the way was paved for peace, if not for pool
ing of earnings, amalgamation or consolida-
ton of the companies. The Commercial says:
Three great operators of the street, who are
supposed to have no interest or communities
tons in common, are credited with making the
great bull turn of 20 per cent. in Western
Union Telegraph, with Vanderbilt, Keene &
Gould. The simultaneous great rise in West
ern Union Telegraph and American Union
Telegraph induces suspicion that the rival
operators understood each other and that a
consolidation or combination of interest is al
most sure to occur at no very distant day. A
special from London this afternoon states 2per
cent. premium is bid on the Northern Pacific
loan, and that allotments were made on the
basis of 20 per cent. From the Graphic: The
French syndicate are yet negotiating for a
block of 900 shares of Wabash, st. Louis
& Pacific preferred stock, and Judge Parsons
is in Paris conducting the operation. 1t is ru-
mored that prominent Wall street opei ators
will this week enter the cotton market, which
is to be manipulated for high prices. The
gross earnings of thirty-eight railroads in
crease S3S ZOO, 900 for 1880. The earnings of
Denver & Rio Grande increase $422, 900 the first
week in January; Burlington, Cedar Rapids &
Northern earnings the fourth week in Decem-
Der show gain of 1880; Peoria, Decatur &
Evansville traffic the last ten days in December
increased S6,225; Lake Erie & Western earn.
ings for the month of December show gain
of s2S,765.
LONDON, Jan. 10.