Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-05-06
Eastern and European Markets.

per cent. Prime mercantile paper 1905 per
cent. Sterling exchange, bankers bills
s4.649l. SghC exchange on New York
$4S6s4.
Governments strong and generally a shade
higher.
Bonds-Ralroad bonds irregular In mode
rate volume of business.
State securities in light request.
Stocks-The stock market opened Strong
and higher and prices advanced steadily during
the morning up to the second board, when the
improvement in prices ranged from 4 to 5
per cent, the latter in Hannibal & ST. Joe CON-
mon Hannibal & st. Joe preferred, Chicago,
Milwaukee 81 st. Paul, New Jersey Central,
Delaware, Lackaw anna & Western, Chicago &
Alton, st. Louis & Iron Mountain, Nashville,
Chattanooga g. st. Louis, Louisville 81 Nash
vile, Union Pacific, Texas Pacific and Mem
phis & Charleston were also prominent there
in. In the late dealings there was decline Of
Il to RI per cent, in which Hannibal & St.
Joe common and preferred, Delaware, Lacka-
wanna s. Western, New Jersey Central, Michi-
gan Central and Chicago, Milwaukee 81 st.
Paul were most conspicuous, but in the final
sales the market became firmer and closed at q
fractional recovery. Missouri Pacific sold up
61f Per cent. to 105 4 and closed at 105.
The Post says: Stock speculation has not
been so active and booming for many months
as 1t is now. An enormous 'shOrt" interest
had been formed in the market. The covering
of this stock or beginning to cover it started
prices upward, and the advance had hardly got
well under way before the public began buy
ing, and outsiders are now competing for
stock in the market with those who had sold
stocks short, and who are therefore at presen'
compulsory buyers. This is the situation 4,
the mnInsnt, and, With the outlook for money,
stranger things have happened than raging,
wild speculation during the next two or three
months, the same, Of course, 10 nc accom-
panied with the usual reaction. When the
British consols airs selling at 102 and up to
l16, which in both cases is a good deal on az.
count of very easy money, il must be admitted
that these important conditions are favorable
for speculation, and yet prices are very high,
and ietuences are also at work in the way Of
building rural railroads, which the fullness OF
time, perhaps year hence, cannot fail to effect
seriously some OF the properties whose shares
are prominent in the present Speculations. The
bulls in the market insist that there will lie
higher prices. Paying stocks are very scarce,
and small orders to buy them at current prices
frequently find the market bare. Chicago Il
Alton advanced per cent. yesterday on ali or
der to buy 100 shares.
The transactions aggregated $4,000 shares;
Alton IL Terre Hautc $500; Cleveland, Column
bus, Cincinnati Il Indianapolis 800; Chicago,
Columbus 81 Indiana Central 1,6p, Canada
Southern 5000; Chesapeake s Ohio 2,GU;
Delaware & Hudson 5000; Denver & Rio
Grande 5000; Erie $1,000; Houston & Texas
Central 2,000; Hannibal & st. ice $4,000; st.
Louis e. Iron Mountain ], eco; Missouri, Kan
sas & Texas 13,0OO Lake Shore $4,000; Louis
vile & Nashville 2l,O00; Michigan Central
S,7O0; Mobile s. Ohio 5000; Memphis Il
Charleston 1000; Chicago s. Northwestern
$4,000; Nashville, Chattanooga & St. Louis
II, 900; New Jersey Central 27,C00; New York
Central 1000; Northern Pacific 1000; Ohio &
Mississippi 5000; Ontario & Western $500;
Ohio Central 1000; Pacific Mail Is, 900; Peoria,
Decatur & Evansville 1900; Philadelphia
& Reading 5000; Chicago, Milwaukee s St.
Paul 5000; St. Paul & Omaha h 60 COCO; Texas
st. Louis & Pacific $4,000; Western Union Tel
egraph $4,000; Lake Erie & Western 1900;
Indiana, Bloomington e. Western 1880; Cen
t-aI Pacific 2 Snn