Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-05-06
Eastern and European Markets.


cent. Sterling exchange, bankers bills
81. S4sal. SighG exchange on New York
$4SeM.
Governments strong and generally shade
higher.
Bonds-Railroad bonds irregular In mode
rate volume of business.
State securities in light request.
Stocks-The stock market opened strong
and higher and prices advanced steadily during
the morning up to the second board, when the
improvement in prices ranged from X to
per cent, the latter in Hannibal g. st. Joe com
mon. Hannibal & st. Joe preferred, Chicago
Milwaukee q st. Paul, New Jersey Central
Delaware, Lackawanna & Western, Chicago 4
Alton, st. Louis & Iron Mountain, Nashville
Chattanooga & st. Louis, Louisville & Nash
vile, Union Pacific, Texas Pacific and Mem
phis & Charleston were also prominent there
in. In the late dealings there was decline OF
II to IN per cent, in which Hannibal & St.
Joe common and preferred, Delaware, Lacka'
wanna s. Western, New Jersey Central, Michi-
gan Central and Chicago, Milwaukee & st.
Paul were most conspicuous, but in the final
sales the market became firmer and closed at a
fractional recovery. Missouri Pacific sold up
6% per cent. to 1867 and closed at los.
The Post says: Stock speculation has NOT
been SO active and booming for many months
as it is now. An enormous 'short" interest
had been formed in the market. The covering
of this stock or beginning to cover it started
prices upward, and the advance had hardly got
well under way before the public began buy
ing, and outsiders are now competing for
stock in the market with those who had sold
stocks short, and who are therefore at present
compulsory BUYERS This is the situation al
the moment, and, with the outlook for money,
stranger things have happened than raging,
wild speculation during the next two or three
months, the same, Of course, TO be accom-
panied with the usual reaction. When the
British consols are selling at 102 and up tn
116, which in both cases Is good deal on az .
count Of very easy money, IL must be admitted
that these important conditions are favorable
for speculation, and yet prices are very high,
and Influences are also at work in the way Of
building rural railroads, which the fullness Of
time, perhaps year hence, cannot fail to effect
seriously some OF the properties whose shares
are prominent in the present speculations. The
bulls in the market insist that there will lie
higher prices. Paying stocks are very scarce,
and small orders to buy them at current prices
frequently find the market bare. Chicago 4
Alton advanced per cent. yesterday on an or
der to buy 100 shares.
The transactions aggregated $4,000 shares;
Alton Il Terre Hautc $500; Cleveland, Colurn-
bus, Cincinnati 81 Indianapolis 800; Chicago,
Columbus & Indiana Central 800, Canada
Southern 5000; Chesapeake & Ohio 2,GdU;
Delaware & Hudson 5000; Denver Il Rio
Grande 5000; Erie $1,000; Houston & Texas
Central 1000; Hannibal & st. ice $4,000; st.
Louis & Iron Mountain 3 eco; Missouri, Kan
sas s. Texas $4,000; Lake Shore $4,000; Louis
vile & Nashville 2l,000; Michigan Central
S,7O0; Mobile s. Ohio $1,000; Memphis &
Charleston 1000; Chicago s. Northwestern
$4,000; Nashville, Chattanooga & St. Louis
II 900; New Jersey Central q, coo; New York
Central 1000; Northern Pacific 1000; Ohio Z
Mississippi 5000; Ontario & Western $500;
Ohio Central 1000; Pacific Mail 1s, 900; Peoria,
Decatur & Evansville 5000; Philadelphia
s. Reading 5000; Chicago, Milwaukee s St.
Paul 43 600; St. Paul & Omaha COCO; Texas
Pacific $500; Union Pacific %, 900; Wabash,
St. Louis & Pacific 5000; Western Union Tel
egraph $1,000; Lake Erie & Western 1900;
Indiana. Bloomington g. Western 1900; Cen
fra1 Pacific g S00