Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-12-01


Financial and Stock Markets.
NEW YORK, Nov. S0-Money per
cent. per annum and 1-S2 per cent. per diem.,
closing at per cent. Prime mercantile
paper 6@7 per cent. Sterling exchange,
bankers bills firm at $4.S0x; on demand,
81 SAX.
Governments-strong and H@A per cent.
higher except for extended &c, which are 4
per cent lower.
Bonds-Railrosd bonds irregular on a mod
crate volume of business.
State Securities-Dull ana generally nom-
inal.
stocks-The stock market was irregular at
the opening but generally weak and X0K
per cent. lower and in the early dealings prices
recorded further decline Of x@X Per cent.
in the general list and X per cent. in Erie
preferred. The downward tendency, however,
broke at the frst board AMI under the leader
ship Of Nashville, Chattanooga & ct. Louis
and Louisville & Nashville an advance was
recorded ranging from n tt 81 per cent, the
latter in Chicago & Chicago,
Milwaukee 4 St. Paul, Lake Shore, Michigan
Central and New York Central being also
prominent in the improvement. The top
figures were reached ct the second call. In
the flal dealings speculation became weak
and rather feverish, the closing quotations
showing decline Of < to III per cent. from
the highest point, Nashville, Chattanooga &
st. Louis, Louisville & Nashville, Michigan
Central and Denver & Rio Grande being most
conspicuous therein. Th. feature Of the rail
road bond market was again Boston, Hartford
& Erie firsts, which advanced to 1914 from "a
and closed at 20. One week from to-day,
December g. it is expected the new scheme
will be developed. It is learned, IN general
way, the new Board will contain representatives
of the Elevated railroads, of Erie, Delaware &
Hudson, Delaware, Lackawanna q Western,
New Jersey Central a1d possibly Penn sylvania
Central. The road is to be furnished at Fish.
kill, on the Hudson, with good part Of the
coal tonnage which now goes to New Eng
land by water; that new line 10 to be built
from Danbury, Conn, to the terminus of the
Second Avenue Elevated railroad up town, in
this city, which will seek passenger travel to
Boston and that the road will be double tracked
from Danbury to Boston, the money for which
purpose has already been raised. This, In
outline, Is the scheme which caused the heavy
buying of the bonds, which are sxchangeable
for the stock Of the reorganised New York &
New England road. The hackers Of the
scheme are influential in the matter Of money
aud control of business. In the stock market
the money stringency acted against an advance,
bat reports OF settlement of the trunk line
war not only sustained prices but carried them
above yesterdays prices. In some stocks in
which the short interest was large, like Louis
vile & Nashville, there was sharp rise. The
feeling of the street is much more bullish
than it was. There was talk to-day Of an
early meeting of the directors of the Chicago
s. Northwestern railway, when, it was said,
the dividend on common stock will be raised
to per cent, making per cent. for the year,
so that the road would be clear for higher
dividends on preferred stock. Unoficially, 1t
is given out that the earnings Of this company
for four months amount to 92-l0 per cent.
on both stocks for the year. The notice of an
increase in the stock OF the Denver & Rio
Grande railroad rather weakened the market
for those shares. The dealings, as q rule,
were on fairly large scale.
The transactions aggregated SOC, 900 shares:
Delaware, LackawanDa q Western 5000;
Denver & Rio Grande SO 900; Erie 5000; Mis-
souri,, Kansas & Texas 2,700; Lake Shore
81, 900; Louisville & Nashville 81, 900; Mchi-
gan central 1900; Memphis & Charleston
1000; Missouri Pacific 1000; Central
Pacific 5000; Chicago & Northwestern
16, 900; New Jersey Central 1900; New York
central 5000; Pacific Mail 2,6OO;
Chicago, Milwaukee & st. Paul 10000;
st. Paul & Omaha 1000; Texas Pacific
1900; Union Pacific II 900; Wabash, st. Louis
& Pacific $4,000; Western Union Telegraph
$4,000; Robinson Mining 400.
MORNING QUOTATIONS.