Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-28

StocktThe net result of the forenoon's bust
ness in the stock market was a frac-
tional decline in the general list
from last nights closing prices. At the opening
prices were 3S@9<. per cent lower than last
night, but were stronger during the next Is min
utes. From II 80 to II the market was heavy,
the special feature being Delaware, Lacka-
wanna & Western, which declined 1% to
127H. During the next half hour the market
was comparatively steady. The general result of
the hour and half following showed little change
in prices, though the tendency was to lower
range. In the last hour the market was stronger
and net result was an advance of Il to ~ per
cent and on many stocks the highest prices of
the day were made. The most active were Denver
Bio Grand, Delaware, Lackawanna & Western
Milwaukee b st. Paul, Western Union and
Union Pacific, all of which were strong. In final
dealings the Mutual Union Telegraph advanced
to Is from 1914.
The Post speaking Of the condition Of the
stock market says: It continues to see-saw in
q state Of uncertainty. There is no we'll defined
tendency neither direction. To-day has shown
q stronger market than Yesterday,
but not sufficiently 90 to indicate
any important changes in the general
situation. The season Of tight money has passed
and there is no further cause for apprehension
on that score. But the money question has cut
no figure in the fluctuations of the stock market
for the month. The general complaint among
the brokers is there is no buying by the outside
public. All the trading is of that dabbling kind
which is done for advances or declines of few
fractions of cents and signifies nothing. As re-
CARDS any general tendency of prices Of stocks,
the readiness with which good railway loans are
negotiated shows there is plenty of capital for
such investment and it is presumable that there
is also plenty that would seek more speculative
investment in stocks if the present feeling
of distrust of the management was removed.
The Pest also, referring to the courts and the
Western Union Telegraph company, says: Ths
granting of an injunction by the court today
against the payment of dividend on Sl5,525
$40 additional capital stock issued to original
holders OF Western Union Telegraph stock at the
time of Consolidation with the American Union
and Atlantic l. Pacific Telegraph companies, does
not seem to affect the market prices of present
stock. Upon the same subject the Mail and Er-
press says: The question arises as to how the
court can restrain the payment of dividend
which has already been paid, or how illegally is
sued stock can be singled out for refusal to
transfer. In other words, it thought iajunctions
amount to little except SO far as they add to ex-
listing complications.
The Manhattan Elevated Railway directors in
structed counsel to draw up papers for the pur-
pose of Withdrawing Metropolitan option for
exchanging their holdings for Maahattan second
preferred stock. This step is taken to relieve
the Manhattan mpaly from responsibility of
property damages along the line of the Metropol-
itan road.
The Pests Boston special says: To-
day is a lively one in this market,
caused by very large sales of Atchison,
which are the heaviest yet recorded in the time
This security opened at IS, sold down to 84115s,
and rallied to 84X. The reason for these heavy
sales is the issue of 81 800 900 new bonds. Other
securities are also slightly weaker, with consid-
cradle selling in few specialties, while the gen
eral list is neglected. The bank officers of New
York discussed for an hour to-day the question
of taxation of banks by the city, and decided to
leave the individual bank to determine for itself
whether to pay the taxes demanded. A Washington
special says Representative Holman, who leads
the opposition in the house against the Pacific
railroads, regards the prospects of bills fog
fe.ting to the government the unearned land
grants to Pacific roads as not very hattering for
the session.
The transactions aggregated $4,000 shares:
5000 Canada Southern; 1900 Central Pacific;
5000 Delaware, Lackawanna & Western; 81, 900
Denver 4 Bio Grande; 10000 Erie; 1850 Mis-
souri,, Kansas & Texas; $500 Lake Shore; ZOO
Louisville & Nashville; 5000 Michigan Central;
5000 Missouri Pacific; 5000 Chicago North
western; $500 New Jersey Central; $4,000 New
York Central; 5000 Northern Pa
cifc; 1900 Pacific Mail; $4,000
Reading; $1,000 st. Paul; 5000 Chicago, st.
Paul, Minneapolis Il Omaha; 1000 Texas Pacific;
81, 900 Union Pacific; 10000 Wabash, st. Louis
& Pacific; Is, 600 Western Union Telegraph; 1000
Norfolk & Western preferred; 1900 Chicago,
Burlington Quincy.
MINING STOCKS. s.
Mining stocks fairly active and irreg ular;
Sierra Grande sold ex-dividend at 440@
425, closing at $50; Chrysolite advanced from
40 to $50, and Little Chief from 40 to 43; Ma
vajo sold 800 and 1916; Horn Silver 600; Standard
Consolidated 700; and Bodie 225. Sales for the
day, $3.50 shares.