Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-08-24
Eastern and European Markets.


New YORK, Aug. 23.-Money at
4@6 per cent, closing at 4 per cent. Prime
mercantile paper 1906 per cent. Sterling
exchange, bankers bills weak at $4.sO1s
Sight exchange on New York, 81 SO.
Governments quiet and generally firm.
Bonds Railroad bonds irregular on 2 mod
crate volume of business.
State securities inactive.
Stocks-The stock market opened strong
and higher and In the early dealings prices
advanced Il to 234 per cent, Missouri Pacific,
Louisville & Nashville, Union Pacific, Denver
& Rio Grande, Chicago & Northwestern and
St. Paul s. Omaha preferred leading in the up
ward movement. The advance was followed
by reaction of a to TX per cent. and later
by another advance of X to 2s6 per cent.
During the afternoon speculation was some
what feverish. A reaction of n to 21s per
cent took place at the second board, which
was followed by rally of e to 13s per cent,
but in the final dealings the market again be-
came weak and prices fell off u to 2 per cent,
Missouri, Kansas & Texas, Missouri Pacific,
Texas Pacific, Denver & Rio Grande, Union
Pacific, Central Pacific, Wabash, St. Louis &
Pacific, Illinois Central, Michigan Central,
New Jersey Central, Delaware, Lackawanna &
Western and Western Union Telegraph being
most prominent in the decline. Oregon Navi
cation opened at an advance of 4 per cent,
reacted Az per cent. and rallied ~ per cent.
The Commercial Bulletin says: The an
nouncement that the treasury will prepay
without rebate all of the unlimited registered
5 per cent. bonds on presentation, turned the
whole course of speculation at the Stock EX-
change this morning; at least it started the
short interest into covering and this caused
rapid advance in prices ranging from n to 5
per cent, but after good part of the short
interest had been covered the stock market
in the afternoon became heavy and part of the
rise was lost, the market then having been
subjected to the other influences which of late
have depressed it, tO-wit, the critical condition
of the President and the railroad war. The
effect of the new treasury order on the money
market was to make it easy, as the prospect of
an addition within the next few weeks of
1925, 10000 to $3.50, 900 of each stock of money
outside the treasury should do. Foreign eX-
change was reduced so far as the rates for
sterling by some of the bankers are concerned,
but really the money market was steadier than
yesterday, although still at rates which JUS
tify gold imports.
The Express says: In the last half-hour of
business there were various unfavOrable ru-
mors afloat on the street in regard to the con-
dition of the President, one being to the
enecG mat ne mas falied TO recognize MS vile
since yesterday; another that the contraction
of his jaws is becoming so serious as to iu-
terfere with the introduction of food and still
another that he does not recognize his medical
attendants. These rumors could not be veri-
fed but nevertheless they exercised marked
influence on the stock market and caused a
sharp change from bull to bear.
he transactions aggregated $500 shares;
Canada Southern 2,4OO; Central Pacific
1900; Chicago, Columbus & Indiana Central
1900; Delaware, Lackawanna & Western
$4,000; Delaware & Hudson 1900; Denver &
Rio Grande $1,000; Erie 1,'00; Hannibal &
st. Joe 1000: Missouri, Kansas & Texas
1900; Lake Shore % 600; Louisville & Nash
vile 10000; Lake Erie & Western 1900;
Michigan Central $1,000; Missouri Pacific
1000; Chicago & Northwestern 10000; New
Jersey Central 10000; New York Central
$500; Northern Pacific $4,000; Ohio & Mis-
sissippi $500; Ontario & Western 1900;
Ohio Central 1900; Pacific Mail $500;
Peoria, Decatur IS & Evansville $4,000;
Philadelphia C Reading $500; Chi
cago, Milwaukee & st. Paul $4,000;
st. Paul & Omaha $500; Texas Pacific $500;
Union Pacific 26,00O; Wabash, st. Louis &
Pacific $4,000; Western Union Telegraph
81 900; Illinois Central 1000; New York Ele-
waited 1900.