Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-01-20
Eastern and European Markets.

per cent, closing at 8 per cent Prime mer-
camille paper $685. per cent. Sterling ex-
change, bankers bills steady at 9S5s. Sight
exchange on New York 9919.
Dry goods imports for the week, Sc, $50, 600.
Governments quiet, but generally firm.
Bonds-In the railroad bond market 1ndi-
ana, Delaware q Springfield second incomes
advanced to 60 from IS and then fell to SO;
Rome, Watertown & Ogdensburg firsts ad-
vanced to 95 from 92s4; New York Central &
Hudson River coupon firsts to 1874 from 1881;
do seconds to LIZ from no; Oregon naviga-
ton firsts to 10S from 107; st. Louis d Iron
Mountain first preferred incomes to 961a from
95; Lake Erie s. Western incomes to 904 from
SO, closing 80; st. Louis & Iron Mountain
second preferred incomes to 81 from SO, clos
ing at S61a; Ohio Central incomes to 621a from
81 and then fell to e. Chesapeake & Ohio cur
rency Is declined to so from 50, closing at 1875
Wabash, st. Louis & Pacific general mortgage
IS to II from SO; Chicago, Columbus & 1ndi-
ana Central incomes to 7215 from "a, and then
recovered to 731a, closing at %; Mobile & Ohio
new mortgage Is to 100 from 10.
State securities dull
SlOckS-lHc SlOCh SIIOuS
and 114@21a per cent. higher, the latter for the
American Union Telegraph. Subsequently
prices reached 15@11s per cent, but at first
| board speculation assumed strong tone, and
| under brisk purchases, advances ranging from
| 1S@5 per cent. were recorded, in which st. Paul
& Omaha preferred, Union Pacific, Hannibal q
| st. joe Pacific Mail and Delaware & Hudson
wara Ynocf nromipapt This VOC followed nv
a reaction of 4@24 per cent, but during the
afternoon the market again took an upward
| turn, and under heavy purchases az advance
OF 14@4a5 per cent took place, Union Pacific,
the telegraph shares, the Changers, Chicago,
| st. Louis & New Orleans and trunk line
stocks leading the upward movement. The
highest prices of the day were generally cur
rent in final sales, market closing strong amid
! much excitement. The directors of the Hanni-
bal & st. Joe railroad to-day resolved to submit
proposition to their stockholders to issue q
| consolidated bond of $S,000,000 on their 306
| miles of road to take up all outstanding issues.
The bond will bear 6 per cent. interest and run
| thirty years This will result IN saving of
| $4,000 in interest yearly, and the income of
the land department will soon be applicable to
dividend. Both the common and preferred
stock were very active and strong on this
action. The sharp rise in st. Paul s. Omaha
preferred shares and the sympathetic advance in
common stock is due to large earnings and
prospect of the road being eventually absorbed
into the Chicago d Northwestern system, The
latest rumor in regard to the Chicago & Alton
is that the company will declare a bond divi-
dend of probably 50 per cent. The Chicago,
Rock Island q Pacific earnings for the first
eight months of the fiscal year of the COM
pany were at the rate of over IL per cent. per
annnm, and movement is on foot for increas-
ing the dividends. The active demand for coal
and. the improved demand for pig iron end
nails, in connection with the scarcity of coal
in the West, are causes at work in advancing
anthracite coal shares. But in case of the
Delaware, Lackawanna & Western, reports
about the Buffalo construction of the extension
are quite potent. The continued upward
movement in the Illinois Central is due to the
well-authenticated reports of the increase of
dividends in the future. The Western Pacific
preferred shares will soon be placed on bond
on the Stock Exchange, and the floating sup
ply of stock here is being gradually picked up
for transmission abroad. Some of the low
priced stocks like Cedar Falls g. Minnesota,
Rome, Watertown & Ogdensburg, Pittsburg,
Titusvillc & Buffalo, Marietta & Cincinnati
and Keokuk & Des Mones came to the front
and were conspicuous in the dealings. The
advance in the Union Pacific to the highest
point ever attained, grew out of the pres
ence here of some of the Eastern directors and
the reports that the scheme of increasing the
capital stock and paying off the government
bonds and making scrip dividends is likely to
go through.
The activity and demand in Western Union,
Atlantic & Pacific, and American Union Tele-
graph shares was caused by reports that a con-
soidation scheme would receive favorable con-
sideration at the directors meeting of theWest.
ern Union Telegraph company. The news of the
ratification did not reach the street until after
the close of business, and the following action
taken by the Union Pacific directors, and was
not known when the Exchange closed AT
the meeting of the directors of the Union Paci-
fic railroad company to-day it was unani-
mously agreed to increase the capital stock
by s1O,000,000, to be offered to stock holders of
record of February 6, at par, in proportion of
one share of new to five of old. This stock is
issued for the purpose of providing money for
extensions and for increasing the facilities re-
quired by the growing business of the road.
Under the plans of the consolidation of three
telegraph companies, s15,0u0,0O0 in scrip is to
be divided among the Western Union share
holders. The plan is to be submitted to a
meeting of stockholders February 10.
The New York Ercming Post says: High as
prices of stocks are, and they are far beyond
the calculations a year ago of the most san |
guine, the disposition to-day is as eager as we
have ii at any time in the last twenty years |
Union Pacific advanced to 1925 and Central
Pacific to 96. There is a good deal of buying |
OF the latter by small investors, who take from |
ten to 100 shares. st. Paul 81 Omaha preferred |
advanced to 1o6 and common 70 Oh Pre- |
ferred is paying dividends at |
the rate of per cent. per
annum, and it Is expected that in time this
viii be in Chicago & Northwestern, the man