Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-03-19

ap6dAe " OHlO CURRENCY bikes W 10 AIOm IVA ,
Missouri, Kansas & Texas general mortgage
skies to so from Is, do. seconds to 65 from
62]z and receded to 6S11Ss, and New Jersey Cen
trail consols to 1874 from III.
State Securities-Dull; Tennessees lower.
Stocks-share speculation opened strong
and 1S@l1s per cent. higher, Chesapeake &
Ohio and St. Louis & San Francisco first pre-
ferred being most prominent in the advance.
Nashville, Chattanooga & st. Louis and Rich
mond & Danville, however. each open ~ per
cent. lower. In the early trade. after decline
Of SON per cent, an advance Of A@14 per
cent. was recorded, in which st. Paul q Oma-
ha common, Michigan Central, Denver q Rio
Grande, Alton & Terre Haute common, On
tario s. Western and Western Union Tele-
graph were conspicuous. In the early part OF
the afternoon the general list fell off 1s@12
per cent, New Jersey Central, Denver & Rio
Grande, Philadelphia s. Reading, Louisville &
Nashville and Missouri Pacific leading, while
Lake Erie & Western sold up X per cent,
st. Paul & Manitoba II per cent, Nashville,
Chattanooga & St. Louis ~ per cent. and
Colorado Coal 10 per cent. This was succeed
ed by an advance of H@1a per cent. in Pc
oria, Decatur & Evansville, Michigan Central,
Nashville, Chattanooga & St. Louis, Texas
Pacific and St. Paul & Omaha preferred, but
In the late dealings general decline OF SO
IL per cent. took place in Delaware, Lacka-
wana & Western, New Jersey Central and Wa
bash, st. Louis & Pacific preferred. In the
final dealings Texas Pacific recovered Per
cent, st. Paul s. Omaha common e per cent.
and Peoria, Decatur & Evansville per cent.
The market closed irregular but in the main
weak, although prices were generally higher
than yesterdays close.
The transactions aggregated $50, 900 shares:
Central Pacific 10000; Delaware, Lackawanna
& Western go, 900; Denver s. Rio Grande Ia ,
600; Delaware & Hudson IL 600; Hannibal &
st. Joe preferred LOO; Missouri, Kansas &
Texas 1900; Lake Shore $4,000; Louisville &
Nashville 10000; Lake Erie & Western $1,000;
Michigan Central IL 900; Memphis q Charles
ton 1900; Missouri Pacific 10000; Chicago &
North western 1000; Northern Pacific 10000;
Pacific Mail 5000; Peoria, Decatur Evans
vile 5000; Philadelphia & Reading 5000;
Chicago, Milwaukee & st. Paul $4,000; st.
Paul & Omaha Sc, 600; Texas Pacific "a, 900;
Union Pacific 1000; Wabash, st. Louis 4
Pacific $4,000; Western Union Telegraph 49,
600; st. Paul Il Manitoba 1000.
The Ereming Post says: The failure OF E.
A. Desmorts was this afternoon announced
and the stocks of Denver & Rio Grande, New
Jersey Central, Erie and Missouri Pacific were
bought in under the rule for his account:
Desmorts was not large trader, but is one OF
the ssbears'' who failed to cover when the up
ward reaction began. The large bears who
have not covered are strong in cash and can
stand heavy losses. 1t is worthy Of remark
that while the heavy decline OF the last nine
months forced no failures on the bull side, the
first important upward reaction brings fail:
ures of "bears'' To those who understand
the ways of Wall street speculation this is not
strange, for while cash is the main part OF the
"bull'' stock in trade, that of the bears con-
ssts of what may be dignifed as courage to
sell other peoples property and the power to
make holders of stocks SO sick of their hold
ings that they Will sacrifice them. mem
Der OF the Stock Exchange can do more on
the bear side of the market with S25, 600 cash
than he could on the bull side with 100000.