Daily globe., 1881-05-14
Eastern and European Markets.

NEW YORK, May 13.-Money 3@4 per
cent. Prime mercantile paper 4@4H per
cent. Sterling exchange, bankers bills strong
at $4.S51S. SighG exchange on New York
$4.S7K.
Dry goods imports for the week, 81, ,400,0 900.
Governments strong and 3s@M per cent.
higher.
Bonds-Railroad bonds strong and active.
State securities in light demand.
Stocks-The stock market opened at an ad-
vance of 4 to 1 \ per cent, the latter for
Erie preferred. Alton & Terre Haute common
and Oregon Navigation were exceptions, the
former showing decline Of 3 per cent. and
the latter 2 per cent. In the early dealings
speculation took an upward turn and an ad-
vance was recorded, which was followed by a
partial reaction at the first board. Toward
noon the market again became strong and
prices rose steadily throughout the afternoon
up to the second call, when the improvement
from last night ranged from u to IA per cent,
the latter in Hannibal & st. Joe common.
Chicago, Rock Island g. Pacific, Lake Erie &
Western, trunk line properties, st. Louis q
San Francisco, coal shares and Chesapeake q
Ohio issues were also prominent therein.
Subsequently Hannibal & st. Joe reacted per
cent and recovered per cent, but the general
list closed strong. Alton & Terre Haue com.
mon declined 53s per cent. and preferred per
cent on the days transactions.
The Commercial Bulletin says The effect
of Secretary WINDOWS circular calling for 5
per cent. bonds was to advance United States
| 3/I13/ n 1 r,ar panf lS
brought up to 1l75s and AIS TO 1164, the
highest prices ever paid. The circular also
stimulated free buying of investment securi-
ties and had a Strengthening effect on spectl-
lative shares. The present rise in foreign ex-
changes, as well as the recent one, is due to
exceptional causes. One is that SS,G00,00O
has been RENTED. We believe the last bills
have been brought to London to the holders
thereof, of the old Atlantic, Ohio d Mississippi
railroad, this company having been reorgan-
lied under the name OF the Norfolk q Western
railroad. Another exceptional reason for the
recent advance is the sale here for foreign ac-
count of large amounts of 5 per cent. bonds,
which, within six days, is estimated at Sl0,-
100000. those bonds have been sold here for
foreign account, but this, it is to be presumed,
will stop now that the treasury has appointed
London agency at which foreign holders OF
IS can extend at SO per cent. 1t is knswn
that the 3x per cent. bonds are regarded with
favor in London, and that London is buying
American railroad securities. We have, since
January 1st, imported about S6,000,000 more
gold than a year ago, SO that at the worst we
could afford TO lose few millions. In Lon
don all American securities were very steady.
The transactions aggregated $4,000 shares;
Alton & Terre Haute 3 $500; Canada Southern
5,400; Chesapeake & Ohio $500; Cleveland,
Columbus, Cincinnati & Indianapolis $500;
Chicago, Columbus & Indiana Central 5000;
Central Pacific 81 600; Delaware, Lackawanna
s. Western $4,000; Delaware & Hudson s, 400;
Denver g. Rio Grande 1900; Erie 81 900; Han
nibal & St. Joe "A 1000; st. Louis & Iron Noun
tain S,700; Indiana, Bloomington & Western
2,6OO Missouri, Kansas & Texas 11,000;
Lake Shore $4,000; Louisville & Nash
vile 5,40O; Michigan Central 100; Mobile &
Ohio 1900; Memphis & Charleston 1880;
Chicago q Northwestern 5000; Nashville,
Chattanooga & St. Louis 1900; New Jersey
Central l3 800; New York Central IA 900; North
ern Pacific $4,000; Ohio q Mississippi 1850;
Ontario & Western 5000; Ohio Central 800;
Pacific Mail 1000; Peoria, Decatur & Evans
vile 1000; Chicago, Milwaukee d ST. Paul
10, 900; st. Paul & Omaha I 900; Texas Pacific
5000; Toledo, Delphos & Burlington 2,2O0;
Union Pacific 33, 600; Wabash, st. Louis & Pa
cifc $4,000; Western Union Telegraph 12.0O0;
Chicago, Rock Island & Pacific 1000; Lake
Erieu& Western {, 1000. Tl