Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-04
COMMERCIAL NEWS.
A break In the Eastern Markets Blooming
in the Morning and Flat In the Afternoon
Wheat OF Two Cents From the Highest
Point of the Day, and stocks OF One to
Six Points.

Corn--No 2, old, 39c; new, 36c; May, Ouy-
ing, 40c; selling 41c.
Oats-No. 3, white, 2s14c; No. 2, mixed,
buying, CSC, selling. 2Sysc; No. 3, mixed, buy
ing 26c, selling PIE; No. 2, May, 2Hc. No
bids for No. 2, white. Sale one car, No. 3,
mixed, 26c. a-1s-,f
Barley-No. Q, zoe; No. 3, extra, GOc; No. 5,
55c.
Rye-No. 3, Csc,
Ground Feed-Buying, $500; selling,
$1,000.
Corn Meal-Buying, $145O; selling, $3.50.
Bran-Buying, $3.50.
Baled Hay-Buying, $11.OO; selling, $1,000.
Hogs-Live, LBS; dressed, 500
A New York dispatch of last evening says
The dry goods market continues very quiet
but prices are generally steady and unchanged.
Cotton goods quiet and firm. Shirting prints
doing we'll but other calicosl quiet. South
bridge shirtings quoted at sac by agents.
Wooden goods dull and steady. . slE
Eastern and European Markets.
NEW YORK, Jan. 3.-Money easy at sac
per cent. Prime mercantile paper 5@6 per
new system at 9S7s for 60 days, and 9959s for
demand, and under the old method at $4.S11s@
1875 respectively. Actual business was
effected at 1-32@1-16 per cent. Off these rates.
Governments weak. In the railroad bond
market Boston, Hartford & Erie frsts ad
vanced to 81 from 511s, and later declined;
Louisville & Nashville general mortgage skies
advanced to los from 103, and then declined to
104; Chicago, Milwaukee & St. Paul, Iowa q
Minnesota division firsts, advanced to 100 from
los; Chesapeake q Ohio currency skies ad-
vanced to SO from 81; Chicago, Columbus &
Indiana Central trust certificates assented sup
Elementary declined IA per cent. to 1854, and
later recovered to 10Y, and Missouri, Kansas IL
Texas seconds declined to 1874 from 1875, and
recovered to 764. State securities dull.
Stocks The stock market opened generally
firm and in some cases slight advance in
prices was recorded, but speculation soon took
a downward turn and shortly after II NJ. prices
had declined A@3A per cent, the trunk line
shares leading in the downward movement
During the afternoon the market became
strong and under the leadership of Western
Union Telegraph prices advanced 14@61 per
cent, Chicago, Burlington & Quincy, Michi-
gan Central - New Jersey Central, New York
Central and Denver e. Rio Grande being promi-
nent in the advance. In the late dealings spec
ulation became weak and under heavy sales a
decline ranging from 1s@6 per cent. took
place, Lake Shore New York Central, Chicago
& Northwestern, Pacific Mail, Union Pacific,
Western Union Telegraph, Chicago, Milwau-
kec d. st. Paul, Nashville, Chattanooga 81 st.
Louis, Ohio Central and Missouri, Kansas e.
Texas leading in the downward movement. In
the final sales there was a recovery of 114@1&
per cent. in some instances
The Posts third edition says special fea-
turc of the stock market has been Western
Union Telegraph, which has advanced to S63s
from 50 when we last wrote. The rise is ac-
companied by rumors of a settlement with the
American Union Telegraph company, but this
cannot be verified, and the indications are that
it is simply bear panic in stock, the short in
terest having been very large and having been
started into covering this morning by pur-
chases of over $4,000 shares at advancing
figures. American District Telegraph has ad-
vanced ~ per cent. to Sc, and American Union
Telegraph Is per cent. to r. The remainder
of the stock market has been strong and ad-
yanced 14@114 per cent, the latter in Chicago,
York Central and Denver e. Rio Grande have
advanced ~ per cent, New Jersey Central 13s
per cent, and Hannibal s, st. Joe "a per cent.
Some of the banks and money lenders begin
the new year by insisting upon wider margins
on loans, as much as 50 per cent. being re-
qtlired on some stocks, that is, they viii only
lend money up to 80 per cent. of the market
price of some stocks.
The Graphic says: The market to-day has
been irregular, feyerish and finally weak to the
verge of panicky. 1t is rumored that very
powerful syndicate, after selling their long
stocks, have gone short of the market. 1t is a
time for caution and realization. Where there
are profits ultimately the market will rise to
higher figures, but it is questionable whether
at present prices stocks are a purchase. The
rise in Western Union Telegraph was undoubt
edly engineered to sell the balance of the mar
ket Amountpaid in clearing house by ex-
changes alone, since Jan. 1, 1880, is $3S, 1884,
240,57S, and balances paid during same time,
81, Sol 100000 The largest transactions ever
known before in single year were those of
1869, when third of the exchanges were
probably due to speculation. In gold ex-
changes, there were $37, 407 ,02S,9S7 and bal
ances 81, 120,31S, 30S For the first time that
record has been exceeded. The largest trans
actions ever made in any year through the
London clearing house were e6,013, $4,000
in the year 1874, equal to about $4,000, 1885,
900 Hence the payments made in the clear
ing house in 1880 arc the largest ever made
during any year in any establishment on
earth. The exchanges at all other cities in
this country during the year will
not be far from S12,265, 100000. One
theory in the break in Vanderbilt
premium stocks was that the largest holders
had been selling their stocks to buy Western
Union Telegraph, but this is only one of the
countless rumors, none of which could be
traced beyond the Wall street stock exchange
One of the various rumOrs afoat concerning
Western Union Telegraph was that this line
was about to absorb its rival. This, like
other reports couldn't be verified Boston peo-
pie say Vanderbilt is buying Atchison, Topeka
IL Santa Fe stock. 1t is rumored that
Pullman palace car stock will be
doubled up. The privileges which expired
on stocks Friday, the end of the year, are esti-
4 n<n