Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-14
Eastern and European Markets.

New YORK, Jan. 13.->Money easy at sac
per cent, closing at 8 per cent. Prime mer-
camille paper 5@515 per cent. Sterling ex.
change, bankers bills steady at 9SM. Sight
exchange on New York 993s.
Governments steady for 6s and IS, and SO
= per cent. higher fora rs and As.
Bonds-1n the railroad bond market
Chicago, Milwaukee 81 st. Paul firsts, Iowa &
Dakota division extension, advanced to 1925
from 1.21 Minneapolis & st. Louis frsts, to
LIS from lib; st. Louis & Iron Mountain sec
ond preferred income, to 791S from 1874; Chi
cago, Columbus & Indiana Central income
to 72115 from 70 and later declining to NJ;
Erie first nortgage extended rs, to 1885 from
1.26.
State securities quiet
Stocks-At the opening of Stock, Exchange
the great feature was the unusual activity and
buoyancy in telegraph shares. In early deal
ings business was enormous and attended
with great excitement. Western Union Tele-
graph opened at LOO and rose to 1.1415; Amer
lean Union Telegraph opened at So, declined to
a. and rallied to 95; Atlantic & Pacific Tele
graph rose from 1914 to 1917. Immediately
after the reaction of this further adj
vancement, values, we're more definite in the
shape of reports about the consolidation.
and there was sympathetic rise in American
District Telegraph. After the second board
| the activity in telegraph shares subsidized some
what and there was decline to 1.101a for
Western Union Telegraph and 921S for Ameri-
can Union Telegraph and ..4Sl1g for Atlantic &
Pacific Telegraph. The general list was fav-
orably affected by the buoyancy in telegraph
stock and the section of the House of Repre-
sentatives on the funding bill. The feature
early in the day was Chicago, Milwaukee, st.
Paul, which rose to 1.19I for common and
1.27 for preferred on largely increased dealings,
especially in common stock. Later on, Union
Pacific was the most prominent stock and adj
vanced to 1.161 amid enormous dealings and
great excitement. 1t was freely reported that
Vanderbilt was large buyer and that the deal
in Western Union Telegraph had some bearing
indirectly on Union Pacific Central Pacific
followed with increased activity and rose to
973s, and OH considerable buying for foreign
account philadelphia & Reading advanced
per cent. Late in the afternoon rather free
selling movement caused q reaction of a to Z
per cent. from the highest figures of the day,
the latter in American Union Telegraph;
Western Union Telegraph selling OFF, per cent,
Atlantic g. Pacific Telegraph 81 per cent,
Philadelphia & Reading II per cent. and
Chicago, Milwaukee & st. Paul ~ per cent.
| The volume of business was extremely large,
especially in telegraph Stock Chicago, Mil
waukee & st. Paul, Erie, Wabash, st. Louis &
Pacific, Union Pacific, Ontario & Western and
Reading. At a meeting of the directors
of the American Exchange, in Europe Qimited)
held to-day, it was resolved that an interim
dividend of 3 per cent, being at the rate of 6
per cent. per annum for the first half of the
year, be paid out of the net profits of the first
six months working A resolution was also
adopted authorizing S150,000 additional CAPT
tai. The directors of the Great Western In
surance declared semi-annual dividend of
per cent.
| The Evening Post says: No great specula
tive movement in Wall street ever caught so
many professional Spectators in trap as the
present speculation in Western Union Tele-
graph. Profits have been made by compari-
| lively few, chiefly by.Gould, who is credited
| with devsing the scheme, and Mr.. Vanderbilt,
| his close ally in this, if not in other matters.
| The losers have been many and the .amonnt
lost has been large in every instance, the adj
| vance from so to 1.1414 having been so rapid.
1t is not strange that the c1rsng among the
specializing fraternity is loud and deep.
The transactions aggregated $4,000 shares,
of which 10000 were American Union Telc-
graph; 11,00O Atlantic 81 Pacific Telegraph;
1880 Canada Southern; $4,000 Central Pacific;
$4,000 Delaware, Lackwanna d Western;
5000 Delaware & Hudson; 5000 Denver
& Rio Grande; $4,000 Erie; 10000 Hannibal
e. st. Joe: 500 st. Louis 81 Iron Mountain;
200 Missouri, Kansas s. Texas; $1,000 Lake
Shore; 1900 Louisville & Nashville; 1900
Michigan Central; 10000 Chicago & North
western; 1900 Nashville, Chattanooga & St.
Louis; 5000 New Jersey Central; 5000 New
York Central; 5000 Northern Pacific; 12,OOO
Ohio & Mississippi; $4,000 Ontario & West
ern; 5000 Pacific Mall $4,000 Philadelphia &
Reading; $1,000 Chicago, Milwaukee g. st.
Paul; 1900 St Paul e. Omaha; $4,000 Union
Pacific; 1900 Wabash, st. Louis & Pacific;
81, 900 Western Union; 1900 Alton & Terre
Haute; 5000 Chicago, st. Louis &c New Or
leans and 1905 Ohio Central.