Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-07-02
Eastern and European Markets.


closing at 8 per cent. Prime mercantile paper
3@41S per cent. Sterling exchange, bankers
bills steady at $4.S4. sighG exchange on New
York $4.S6.
Dry goods imports for the week, 81 1896, 900.
Governments firm and x to per cent.
higher for extended 6s and As.
Bonds-Railroad bonds fairly active.
State securities in light request.
Stocks-The stock market opened at an ad-
vance of e to per cent, but in the early
dealings there was reaction of Is to e per
cent. At the first board speculation became
firm and under good buying prices took an
upward turn and continued to advance with
out important interruption throughout the
entire afternoon and up to the close of bust
ness, when the Improvement ranged from X
to 311s per cent, the latter in St. Paul & Man.
itoba. Houston & Texas Central, granger
stocks, Union Pacific, coal shares and Western
Union Telegraph were also prominent in the
advance. Oregon Navigation was weak and
declined g. per cent. on the days transactions.
The Evening Post says: If trunk lines
have really been settled and Vanderbilt is to
withdraw the pressure from the market and
cooperate with other leading spectators who
are bulls, an exciting market is TO be expected.
In any event investment securities are sure
to receive the support of purchasers. To re-
invest in July incomes, total of not less
than five millions during the last two weeks
of short interest has been worked in the mar
ket, as shown by the rates at which stocks
tend. A large number of calls on Western
Union Telegraph expired yesterday and there
is no longer any motive on the part of lead
ing Spectator who makes business of sell
ing privileges to depress the market.
The Express says: The Panama Canal di-
rectors have ratified the purchase of the Pan
anna railroad and the transfer of the latter to
the former will soon take place, William A.
Patton and Hy j. Mcdonald have been admit
ted to partnership in the banking firm of
Lonsberr! & Hogin. Mr.. Patton was until
yesterday publisher, and Mr.. Mcdonald for
many years financial editor of the World.
Both gentlemen have had large experience in
financial affairs and are favorably known in
the business community.
The Graphic says: 1t is reported that an
official announcement will be made tomorrow
of the details of rights to accrue to Union
Pacific stockholders for the purpose of build
ing the Oregon extension to Baker City. 1t is
proposed to issue $12,0oO,0OO of per cent.
bonds and an equal amount of Oregon extern
sion stock, half of which is to be retained in
the Union Pacific treasury. The Union Pacific
books will be opened tomorrow at the West
ern Union Telegraph building and closed July
16. Stockholders of record will be entitled TO
subscribe for every one hundred shares and
1900 bonds with bonus of so per cent, or
10 shares of Oregon extension stock.
The transactions aggregated 3O3, 600 shares:
Canada Southern 5000; Central Pacific Is, 0O0
Chicago, Columbus & Indiana Central LOO;
Delaware, Lackawanna & Western $4,000; Erie
$4,000; Hannibal q st. ice 1000; Missouri,
Kansas & Texas 5000; Lake Shore Il, 000
Lake Erie & Western 10000; Michigan Central
5000; Manhattan Elevated 5000; Memphis
& Charleston $4,000; Missouri Pacific 5000;
Chicago & Northwestern $4,000; New
Jersey Central $500; New York Central 8, 900;
Northern Pacific $500; Ohio & Mississippi
1000; Ontario s. Western 2,COO; Ohio Cen
trail 1900; Pacific Mail 400; Philadelphia &
Reading 1000; Chicago, Milwaukee &
St. Paul 300; st. Paul & Omaha $500; Tex
as Pacific 1000; Union Pacific sc, 900; Wabash,
St. Louis & Pacific $4,000; Western Union
Telegraph $4,000; Metropolitan Elevated $780,
Houston & Texas Central 1880; Sutro Tun-
al A