Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-02-20

showing an advance of from y to 81 per
cent, the latter being Philadelphia & Reading:
New Jersey Central, Northern Pacific, Union
Pacific and st. Joe being also conspicuous in
the improvement. Chattanooga st. Louis
& Nashville rose on the report of
a settlement with the lessees of the
road, the Louisville & Nashville company,
guaranteeing per cent. dividends to stock
not held by lessee. Marietta and Cincinnati
stocks has been admitted to the Boston stock
exchange. According to Washington adj
vices a movement was made to-day for refer
ence of the funding bill to conference COM
mittee of the two houses.
The Commercial says: The furry about the
8 per cent funding bill, which some Of
our wise banking people attempted to get up
this morning, has about passed over. There
is not the slightest doubt but that the gov
eminent will get all the money wanted to
pay bonds of 81 at per cent. The whole
$500, 100000 one year treasury notes could be
subscribed on New York stock exchange next
week if the notes were ready and offered at face
value This, with 5000, 600, 600 cash balance in
the treasury consta 1tly increasing, would set
tie all bonds without dollar of refunding,
and if we are not greatly deceived this will be
the policy of the new administration. There
if there is any sort of hesitation m ami
tested 10 exchange for per cents.
At the close Of the day the firm of 81.
W. Mason & Co. were announced as slls-
pended.
| Review of week at stock exchange: The
railway and miscellaneous speculation
was active and buoyant early in
the week. A great excitement char
acterized dealings, which were on an enormous
scales. The list advanced 1 to 20 per cent,
New jersey Central and Reading
leading the upward movement. After
these stocks, the most important advance was
in Southwestern shares, Northern Pacific,
Oregon Navigation and Pacific Mail. Toward
the close there was q marked change in the
temper of speculations, and prices declined
to per cent. from the highest point, while
still later partial recovery ensued. The early
advance in stocks was estimated in general
way by the prospects of the funding bill, while
there were numerous special causes at W Drk, for
instance, New Jersey Central advanced sharply
on the election of Gould and Dillon
to the directory, and talk about
improving and extending the road. Delaware,
Lackawanna & Western was run up on the
theory that it was to be brought into close con-
nections with Jersey Central, and other coal
stocks advanced in sympathy. Readingwas given
a sharp twist at first on the report that Gould
had obtained controlling interest land descend
ed on rumor that some large shorts were be-
ing squeezed. Some of the Southwestern
shares were advanced on favorable prospects
of approaching consolidation. The Northern
Pacific was run up rapidly on announcement
that parties in the interest of the Oregon Rail-
way Navigation company was buying up a con-
trolling interest, which also caused a
sharp rise in Oregon shares. Pacific Mail was
put up, it is supposed, on the presumption of
existing short interest and talk about large
earnings. Chattanooga and Rio Grande shares
rose largely on agitation of dividends. The
decline, late in the week, was due chiefly to
Misrepresentation regarding the operation of
the funding bill, although reports about Van
derbilt's illness, together with sales to realize
profits, had something to do with the reaction
In final dealings there was a marked recovery
from the lowest prices of the week, and
strong market generally on the better stand
ing of the funding bill. a Washington dis
patch stating there will be decided imitation
under its operation.
The Post says: The improved feeling in the
stock market this afternoon is due to the
Washington dispatch saying that the House
committee on ways and means propose to
take the tax off Of bank deposits and bank
note circulation. If this proves true and
the House and Sc nate approve it, it will do
much to neuturralize what is considered thu
demoralizing influence on the market, of the
refunding bill agreed upon.
The French Cable company has filed in the