Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-06-19

per cent. Sterling exchange, bankers Bills
firm at S4.S4L. SighG exchange on New
York Sassy.
The following is the weekly statement of
the New York associated banks:
Loans, decrease. ..................S 92S,SOO
specie, decrease. ................ I,SSl, oOO
Legal tenders, increase . 100000
Deposits, decrease. l,oo5,OUU
Circulation, increase. .......... 69,2OO
Reserve, decrease. ........ 796, 800
The banks now hold $s,0OS,4O0 in excess of
legal requirements.
Governments weak and lower for all issues
except extended Is and IS registered.
Bonds-In the railroad bond market Ohio
Central incomes advanced to 677s from 64A /;
Rome, Watertown & Ogdensburg frsts to
1861 from 1O4H; Chesapeake & Ohio currency
skies to 655s from 6411s: Mobile & Ohio first
debentures to 99H from 50; Ohio & Missis-
sippi firsts, Springfield division, to 1921 from
121. St. Louis & Iron Mountain and Cairo,
Arkansas & Texas firsts declined to 113 from
114A.
Stocks-The stock market was generally
firm at the opening, but in the early dealings
there was decline of Is to TX per cent. Be-
fore the first board, however, speculation be-
came strong and steady and by noon Houston
& Texas Central had advanced 10 per cent. and
the general list \ to 1 \ per cent. After mid
day weak tone prevailed and prices declined
Il to per cent, Houston & Texas Central,
Metropolitan Elevated and Canada Southern
leading, but during the afternoon the dealings
assumed strong tone and at the second call
prices showed an advance of a to Ak per
cent, the latter in Lake Erie s. Western. In
the late transactions the market became weak
er and the general list at the close showed a
reaction of Il to N per cent. Western I'M
ion Telegraph was notably strong and rose 3
per cent, do ex. certificate advancing 2% per
cent Central Pacific, Peoria, Decatur d Evans
vile, Ohio Central and Rochester & Pitts
burgh were very strong. The stocks showing
the most weakness were Elevated shares,
trunk lines and coal stocks. 1t was reported
on the street after 8 O'Clock that the courts
had removed the Injunction on the telegraph
consolidation. The events of the week IN fin
ancial circles have been important in some in
stances. The government bond market was
weak and lower the first half of the week on
large sales from abroad, but the decline
brought in large order for home investment
a marked improvement in prices and heavy
absorption of bonds by banks and individual
investors. The most active issues were eX-
tended IS and 4 per cents, which seem to be
the favorltes with investors at present. The
announcement from Washington that the ad-
ministration would not bring forward any
funding scheme on the assembling of Con-
gress, stimulated the demand for extended
bonds. State bonds quiet and feature less.
Railroad bonds fairly active, with speculation,
as rule, following the course of the share
list, opening strong, afterwards declining and
recovering in the late dealings, while invest
ment issues were strong throughout. The
great bulk of business and most notable fuc-
tuations were in Texas Pacific incomes, Erie
new seconds, Mobile & Ohio debentures, To-
ledo, Delphos & Burlington incomes, Ohio
Southern incomes and Boston, Hartford & Erie
firsts. The last named were exceptionally
weak throughout. The railroad and miscel-
laneous speculation opened strong and after
wards became buoyant with general and de-
cided advance in prices, the upward movement
being stimulated by the large increase in rail
road earnings reported for the first week of
June The movement was led by Southwest
ern stocks, the Pacific stocks, telegraph shares
and Elevated railroad properties. This con-
dition continued during the first half of the
week, but afterward reduction of rates by
the trunk lines, reports of trouble between
some of the leading companies and rumors of
damage to the crops led to free selling move
ment, under which there was sharp decline
in prices in which the entire list participated.
Frequent and vigorous assaults were made
against The markets by bears, which brought
out considerable amounts of long stocks from
timid holders. Towards the close, however,
there was decided change for the better and
the market was active and buoyant, with
sharp recovery from the lowest point of the
week.
The transactions aggregated 34S, 600 shares:
Canada Southern 81 900; Central Pacific IA, 600;
Chicago, Columbus & Indiana Central 1900;
Delaware, Lackawanna & Western II, 1000; Den
yer & Rio Grande 5000; Erie 16, 000 Hannibal
& St. Joe LOO; Missouri, Kansas & Texas
$4,000; Lake Shore 10000; Louisville & Nash
vile 1900; Lake Erie & Western 5000;
Michigan Central 1920; Memphis & Charles
ton 2,700: Missouri Pacific 1,700; Chicago &
Northwestern $500; New Jersey Central
$500; New York Central 5000; Northern
Pacific 1880; Ohio q Mississippi 1900; On
tario q Western 500; Ohio Central $4,000;
Pacific Mail 1880; Peoria, Decatur & Evans
vile 9,10O; Philadelphia & Reading 1900;
Chicago, Milwaukee 81 st. Paul 1900; st.
Paul Omaha $500; Texas Pacific $500;
Union Pacific 1900; Wabash, st. Louis & Pa
cifc $500; Western Union Telegraph 81 600;
Houston & Texas Central $500.