Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-02-06
BANK STATEMENT

The banks now hold s6,s2s,9 IN excess OF
| legal requirements.
Governments quiet and unchanged.
Bonds-In the railroad bond market Texas
& Pacific income land grant seyens advanced
to S4H from IS and later fell to $50; Lake
Erie & Western income advanced to 81 from rs
and then fell to SOY; Peoria, Decatur & Evans
Wills frsts, Evansville division, advanced to Sc
from Is, and 90 income to 50 from 80. Wa.
bash, St. Louis & Pacific, st. Louis division.
firsts declined to 1895 from 11315; Mobile
Ohio second debenture to SO from SLY; Mis-
souri,, Kansas & Texas seconds to 5OA from 50
and later recovered to S1ll, and Chesapeake
Ohio currency skies, which declined to 81
from So.
State securities moderately active.
Stocks-The stock market was irregular and
unsettled in the early dealings and at the first
board the general list declined 4@2aa per cent,
the latter in Western Union Telegraph. To-
ward noon speculation became strong and
prices rose 4@34 per cent, Lake Erie &
Western, Peoria, Decatur & Evansville and
Western Union Telegraph leading in the i'm
provement. During the afternoon the market
tluctuated with much fever but with a narrow
range. In the late dealings Northern Pacific
advanced 211S per cent. and Oregon Navigation
81 per cent, while the general list reacted Is
ok per cent, the latter in Chicago, Milwau-
kee & St. Paul.
The Express, reviewing the week, says the
railway and miscellaneous speculation was
heavy and lower in the week, prices having de-
clned 1@6 per cent. under a heavy selling
movement. Subsequently there was a marked
change in the condition of affairs and an adj
vance of 1@7 per cent. took place, the settle
ment of the consolidation of the telegraph
companies having very favorable influence on
the market for time. The improvement was
lost near. the close in some instances, the prin-
cipal weakness having been in granger, trunk
line and telegraph shares. Alton & Terre Haute
preferred and Oregon Navigation were marked
exceptions to the general list; the former fell
off from 1851 to 1895, rose to 140 and closed
at reaction of 5 per cent, while Oregon Navi-
III. There we're also exceptions to the gen.
eral market in the low-priced shares, notably
Lake Erie 81 Western, Peoria, Decatur & Evans
vile, Ohio Central and Northern Pacific.
Elevated railroad shares were prominent in the
dealings at intervals during the week and were
strong and higher. A noticeable feature of
the week was the large dealings in low-priced
shares, which continued to attract much spec
ulative interest. Publication is made here to-
day that the New York, Chicago & St. Louis
railroad company has been organized, with a
capital of SIG, 900 900, of which $13,000, 900
has been taken by syndicate which has de-
posted 10 per cent of the subscription in
cash. It is proposed to build line from
Cleveland to Chicago, and also to extend the
line from Fort Wayne junction to st. Louis.
The company has purchased ffty-six miles of
the Wabash canal, which gives it right of
way in Fort Wayne twenty feet broad. The
line from Cleveland 10 Chicago is to be
completed this year and to st. Louis by July,
1882. Regarding the extension OF the new
road eastward nothing has been decided upon.
The capitalists interested in this new project
are prominently identified with the Lake Erie
& Western, Ohio Central and Peoria, Decatur
& Evansville companies Mr.. French, auditor
of railroad accounts, maintains that the
Northern Pacific railroad company has r ght
to mortgage its increased lands; that according
to decision of the attorney general all lands
granted are the property of the company un-
less Congress should, by special act, declare
them forfeited. Three hundred and seven
thousand tive hundred and twenty-five shares
of Western Union telegraph stock voted in