Daily globe., 1881-01-15
Eastern and European Markets.

New YoKK, Jan. 14.-Money easy at 5@6
camille paper 5@5H per cent. Sterling ex-
change, bankers bills strong at 9s7s. Sight
exchange on New York 991s.
Governments steady for Is and 5s, and "a
per cent. lower for ~ and As.
Bonds-In the railroad bond market
bonds were: st. Louis & Iron Mountain in
comes, of which first preferred was advanced
from 96s4 per cent. to SO, and.ater declined to
9615; and seconds preferred to
S754, later falling to S6; Ohio & Mississippi
seconds advanced to LIS from 1.21; Cleveland,
Columbus, Cincinnati & Indianapolis consols
to LEO from LII; Rome, Watertown & Og-
densburg firsts, to S61s from $685. Chicago,
Milwaukee & st. Paul firsts, Iowa and
Dakota extensions to 1.241s from 1.2211ss; Kan
sas Il Texas seconds to 70 from 7715;
Chicago, Columbus & Indiana Central in
comes to 1874 from M; Erie seconds,
new consolidation, to 1.O1A from 1OO5S; and
Lehigh & Wilkesbarre consols assented to
100 from 1.071l.
State securities dull
Stocks-At the opening of Stock Exchange
the market was strong in early dealings and
prices advanced a to N pcy cent. but subse-
quently declined n TO 234 per cent, telegraph
shares showing most depression. First board
speculation assuned a strong tone, and the
railroad list advanced sharply during the
afternoon. Improvement ranged from u to
1874 per cent. the latter in Canada
Southern, heavy, purchases of which were
| odo hat bo Sc, {~ I,o
by the New York Central, and its stock guaran-
teed 9 per cent annual dividend. The story of
| the lease is improbable. The rumor may have
grown out of the fact that a new traffic
arrangement has just been made between the
roads, which is more favorable for the Canada
Southern than the old contract Philadelphia
| d Reading rose per cent; Chicago, Milwau-
kee d st. Paul, 3s5 per cent; Union Pacific,
| 2% per cent; st. Louis Il Iron Mountain, 80
In late dealings realizing sales caused re-
| action of from a to 21s per cent, the latter in
| Canada Southern, which was subsequently
partially recovered. Telegraph shares were
feverish in the afternoon and closed at de-
cline of 23s and 81 per cent. from the highest
point in reports of some hitch, and in ne
gotiatons. The Express, referring to these
rumors, says there are undoubtedly among
the details to be arranged some important
questions, such as the valuation of assets, out
standing contracts of one of the companies,
and other things, which will require more or
less consideration and discussion before their
final adjustment. The old maxim, that his
tory repeats itself, will be again cxemplifed in
spite of bitches in this consolidation business,
or, at least, there are street rumors of such
trifing impediments. The matter of fact is,
that the grandness of the scheme affords such
a wide field for intermediate fluctuations, and
the process, so called of milking the
street, rendered by it feasible, it is probably
to be expected that the matter will be arranged
with that haste which the public knew, or the
bull side of telegraph speculation naturally |
deserved.
The Graphic says: The buying of Union |
Pacific is confident and strong, Wabash, st |
Louis & Pacific shows strong and steady buy |
ng, and Chicago, milwaukee, d St Paul appears |
o have thoroughly frightened short interest. |
Hannibal & st. 10 is being bought up for
considerable rise, and Erie continues to be well |
supported. Unless all signs fail all those stocks
arc bound toward higher figures. There is a
considerable belief in another upward move
ment in Erie common this week and it is
claimed that Jay Gould is in it. They talk SIS |
and it is reported that the Wabash,St Louis &
Pacific railway has just concluded important
freight contracts with the Erie road for a term
of years, and the Erie company is to have the
benefit of all the Wabash, st. Louis & Pacific
traffic over the Great Western railway of Can
ada There has been large buying of Wabash
common Gin this market, within that time
part for foreign account It is said that Pine
street banker yesterday bought 800 sh Tres for
London, and prominent man-American
banker had been buying largely for Europe for
len DAYS past. Mr.. Gould is said to have
bought about 10000 shares of Wabash, st.
Louis & Pacific yesterday. Dispatches were
received to-day that stringent bill had been
in the Minnesota legislature against !
he railroads 1t has been known here for
some time that such bill would be brought |
orward, and those cognizant of the fact sold
fully expecting to buy at lower fig
Tres upon the introduction of the measure
They arc the same parties who depressed wheat ,
ast year by heavy sales. The general express 1
ion among the representatives Of Western l
oads here is that their companies are disposed l
o be as favorable to the farmers as their obi
cations to stock and bondholders will allow
The dispatches had no material effect upon
granger shares. Chesapeake & Ohio gained ,
39, coo in December, and S723, 900 for the year
$50 The earnings for 1880 were derived frcm
he operation of the same number of miles of !
oad and from the same sources of traffic as in !,
$40, and exhibit mainly an increase in the /
peal business of the road in transportation of L