Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-17

New YORK, Jan. 15.-Money easy at sac
per cent, closing at per cent. Prime mer-
camille paper 5@6 per cent. Sterling ex-
change, bankers bills dull at 9ST. Sight
exchange on New York 9915.
BANK STATEMENT.
The following is the weekly statement of
the New York associated banks:
Loans, decrease. Observation-Disclosures ,215,9 900
specie, increase. OBSERVATION-DISCLOSURES. 3,5l3,6OO
Legal tender, increase. ............ 1,560,7OO
Deposits, increase. 6,509, 100
Circulation, decrease. ............. 1900
Reserve, increase. ......:........ 3,735, 025
The banks now hold sS,054, 400 In excess of
legal requirements.
Governments steady for 6s and IS, and
weak and so Il per cent. lower for rs and
Is. ~
Bonds-Railroad bonds active and irregular.
In the railroad bond market to-day
Minneapolis & st. Louis frsts advanced
to 100 from lis; st. Louis G. Iron Mountain
second preferred income to So from S611S; do
first preferred income 9719 from 961l; do
Cairo & Fulton first to 111% from 11OI;
Texas & Pacific income land grant rs TO n
from 76; Chicago, Columbus & Indiana
Central income to "a from IS; Chicago, Mil
waukee & St. Paul, Iowa & Dakota Division,
to 125 from 1914; Cleveland, Columbus, Cia-
cinnati g. indianapolis consols to 121 from
100; Texas Pacific frsts, Rio Grande Division,
to 100 from 1914, and Lehigh d Wilkesbarre
consos to 1899 from 1O9,' and Mobile & Ohio
second dcbentures declined to A from 81, and
later recovered to So Panama railroad has
declared quarterly dividend of 5 per cent. pay
able February 1; transfers to be closed from
| January 20 to February 20.
State securities dull and nominal
Stocks-At the opening of Stock Exchange
| the market was strong for the railroad list;
advanced 4@11a per cent, but subsequently
| reached 4@14 per cent. At first board a
strong tone prevailed and prices advanced
steadily. The improvement ranged from d
| to AZ per cent, the latter in st. Louis & Iron
Mountain, Hannibal & st. Joe, Union Pacific,
Alton & Terre Haute, st. Paul & Omaha, Ohio
& Mississippi, and Chicago, Burlington &
| Quincy, were also prominent in improvement.
In late dealing sales, to realize profit, caused
reaction sf a to per cent, which was par
| TALLY recovered at the close. Canada Southern
became weak on Vanderbilt's denial that the
New York Central company had leased that
road, and closed at S41s. Philadelphia
| & Reading, which opened at adj
vance of per cent. dropped II per cent to
80, recovered to Ga, and closed at 62 bid
Telegraph stocks were less active than usual
Western Union Telegraph advanced 90 per
cent. in the forenoon, and declined SIS per
cent, recovered 2 and reacted Is per cent
American Union Telegraph declined ~ per
cent. on days business, and Atlantic g. Pacific
| Telegraph II per cent.
The Evening Express says: A late special
| from London states that 10000 shares of the
Philadelphia & Reading were bought in for
cash in open Market after close of boards, at
prices considerably higher than those pre-
viously current. The stock is said to be
scarce at London, and these purchases were for
short account. The same newspaper says the
events of the week in financial circles were of
most unprecedented Importance, embracing as
they did the most gigantic speculative opera
tions ever known in history of stock exchange,
whose volume of business reached enormous
proportions. The monetary situation was
characterized by ease and with re-
LuTn HOW OF currency from
the interior and semi-annual disbursements.
The supply of capital seeking employment has
been large. The rates for call loans on railway
and miscellaneous collaterais were sac per
cent, and at intervals lower figures prevailed
Government bond dealers were more readily
supplied at 3@4 per cent, while prime mer-
camille paper was discounted at 50512 per cent
Foreign exchanges were lower early in the
week, but subsequently bankers bills were adj
vanced from 9S3s to 9S5s' for sixty days, and
from 991s to 991a for demand The latter were
strengthened by an advance in the Bank of
England discount rate to 81 per cent. There
were no arrivals of gold from Europe reported
from the assay Office for the week yesterday
The total arrivals since August 9, 1880, were
S65, us, 600, of which IS, 1886, 900 was American
coin, and S5S, $4,000 foreign and bars. The
total arrivals for the corresponding period in
1S79-S0, were S73,415,150 Payments by
assay offices on this account were 81, 100000
for the week. and S59,8S9,0 900 since August
I'd. Goyernment bonds, on an increased bust
ness, exhibited great strength and there was
sharp advance in As and AIS on the action of
the House of Representatives, which voted
that the rate of interest on any further issues
of bonds by the government be 8 per cent
The As and .419s were in small supply,
and this had a tendency to stimulate
the upward movement. In railroad bonds an
enormous business was done, and large orders
from investors and SPECTATORS resulted in
further general advance in prices. The great |
est Improvement was in Chicago, Columbus d |
Indiana Central and st. Louis d Iron Mountain |
income assures, which rose to 1917 per cent |
After these the interest conferred chiefly in |
Erie, Kansas d Texas, Texas Pacific, New |
Jersey Central Champaign, Havana q West |
ern, Chicago & Northwestern, and Chicago, |
Milwaukee d st. Paul bonds. Railway and /
speculation was active and an !
advance at most throughout the week There
were various causes at work to produce the
activity and buoyancy which char
acterizcd dealings from the opening almost to
the very close of the week. The overshadow-
ing features of course have been negotiations
for the consolidation of telegraph companies.
When il became known that these negotiations
had been practically concluded the widest ex-