Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-06-18
Eastern and European Markets.

NEW YORK, June 17.-Money active at 3@6
per cent, closing at 4 per cent. Prime mer-
camille paper 1914 per cent. Sterling ex-
change, bankers bills steady at $4.84A.
SighC exchange on New York $4.S6A.
Dry goods imports for the week, 81 ,224, 900.
Governments quiet and generally steady.
Bonds-Rairoad bonds active and irregular.
State securities in light request.
Stocks-The stock market opened weak and
generally lower and in the early dealings prices
declined a to 80 per cent, Chicago, Milwau-
kee & St. Paul, Metropolitan Elevated, Mis-
souri, Pacific, Lake Shore, Texas Pacific and
Chicago & Northwestern leading in the down.
ward movement. Toward noon speculation
| assumed firmer tone and continued to ad-
vance throughout the afternoon up to the
close of business. In the final sales the ad-
vance from the lowest point ranged from d
to 8 per cent, Chicago, Milwaukee & st. Paul,
Delaware, Lackawanna & Western, Metropoll-
tan Elevated, Lake Erie & Western, Texas Pa
cifc, trunk line shares, Missouri Pacific and
Central Pacific leading. Peoria, Decatur &.
Evansville was notably strong and advanced
614 per cent. The consolidation of the Cen
trail Arizona and the Cascade Mining COM
panies is virtually assured, as a preliminary
vote on the 14th disclosed the fact that the
present management holds 10000 shares of
capital stock. The vigorous bear assault on
the entire list early in the morning was mater
tally aided in depressing prices by the passage
of the brokers' tax bill in the Assembly and
the renewal of reports of trouble among tine
trunk lines. The brokers' tax bill provides
for stamps on each contract instead Of month
ly reports of transactions. The bill now goes
| to the Senate for concurrence and if that body
should agree to it, then the the bankers and
brokers will appeal to the Governor for relief.
| The ErpreSS says there is naturally great op-
position 10 this bill in business circles, where
| it is looked upon as another effort to make
New York city pay the great bulk of taxation
| for the State. Before the end of the first hour
| it became apparent there was strong sustain
ing influence at work taking stock, and while
the market was fcverish at noon it nevertheless
| gained strength and in the afternoon was
steadily strong, closing at the highest prices
of the day. The upward movement was &C.
CELEBRATED by reports that the trunk line Off
cials had adjusted all their differences and also
by purchases on part of bears to- cover
short contracts. The temporary advance in
money to 6 per cent. to stockholders failed to
check the rising tendency of the market. The
only justification for the advance was the de-
cline in stocks this morning, caused by some
calling of money or for additional collateral,
| but for the most part the advance in the last
| hour was manipulated on the announcement
from Washington this morning that the ad-
ministration would not favor the funding
measure on the assembling of Congress, and
caused an active demand for coupon and ex-
| fa,I dad 70 Of hull VII houl
been some large transfers in Elevated stocks in
the name of Sage, but not in the names OF
other capitalists heretofore prominently men,
| toned in connection with the approaching
election 1t was stated on the street this after
noon that Gould, Dillon and others have de-
clned TO allow their names to be used as can.
didates for directors of the Metropolitan Ele.
waited or Manhattan Elevated road. Applica-
| tons for extension of IS in this country
amount to $40, 100000. The amount of for
eign applications is unknown.
| The Epening Post says: Not only have
prices of stocks advanced since We last wrote,
but there has been a decided gain of steadness
to the tone of the market. In fact, 1t begins
to look as if the decline had been designed fol
the purpose of buying stocks and that when a
sufficient amount had been obtained the trunk
| line troubles would suddenly cease.
| The transactions aggregated sos, 600 shares
Canada Southern 1900; Central Pacific $1,000
Chicago, Columbus & Indiana Central 1900
Delaware, Lackawanna & Western II 600; Della
ware & Hudson 2,40O; Denver q Rio Grande
$500; Erie $4,000; Hannibal & st. Joe 1000
Missouri, Kansas & Texas 1880; Lake Shore
Il, 900; Louisville & Nashville $500; Lake
Erie & Western $500; Michigan Central
$500; Memphis & Charleston 1,4OO; Mis-
souri, Pacific 1000; Chicago & Northwestern
| Il, OOO New Jersey Central 10000; New York
| Central 1O,O 600; Northern Pacific 5000; Ohio &
Mississippi 3,40O; Ontario & Western 5000;
Ohio Central 5000; Pacific Mail $500; Pc
oria, Decatur & Evansville %, 900; Philadelphia
& Reading 1000; Chicago, Milwaukee & St.
Paul $4,000; St. Paul & Omaha $4,000; Texas
Pacific 5000; Union Pacific $4,000; Wabash,
St. Louis & Pacific ~, 600; Western Union Tele-
graph $4,000; Metropolitan Elevated $500.