Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-03-27
Financial and Stock Markets.
EVENING REPORT.


Money 3@6 per cent, closing offered at 8
per cent. Prime mercantile paper 5@6 per
cent. Sterling exchange, bankers bills steady
at s4.S611sS; DO. ex. demand, $4.S9H.
Governments-Strong and higher.
Bonds-Railread bonds dull but higher.
State Securities-Inactlve except Virginia.
Stocks-The stock market was strong and
1s@1A per cent. higher, Manhattan Elevated
and Illinois Central leading in the advance.
The general list, in the early trade, fell off 1s@
ID per cent, after which the market became
strong and sold up 1924 per cent, East Ten.
nessee, Virginia q Georgia preferred, Della
ware, Lackawanna & Western, Western Union
Telegraph, New Jersey Central, Denver & Rio
Grande aud Texas Pacific being most con.
spicuous in the upward movement. In the
early part Of the afternoon reaction OF ]s01
per cent. took place, the latter for New Jersey
Central, while Ontario & Western sold up LIZ
OH per cent. and Colorado Coal 3 to 81 per
cent. In the late trade there was an advance
of 1s@1]5 per cent, in which Indiana, Bloom
ington d Western, Delaware, Lackawanna &
Western, Denver e. Rio Grande, Missouri,
Kansas & Texas and East Tennessee, Virginia
& Georgia preferred were prominent, but Ii
the final dealings Colorado Coal reacted i p
per cent, while Houston & Texas Central
closed at an advance of 81 PER cent. The
general market closed In the main fraction
lower, although prices were 4 to355s per cent
higher than yesterdays prices. There is
good foreign demand for Ontario & Western
and strong party behind it here. There is Q
rumOr on the street that Frank Work and
others have taken an interest in Hannibal 8
st. Joe. 1t is evident there is some important
move in progress and negotiations of rome
kind going on. ALI parties are reticent, how.
ever. Vice President Duff was interviewed TO-
day, but refused to say anything except that
Mr.. Work had entire charge of the matter.
The Euening Post says: The week closed
on Wall street on an extremely easy money
market, with money offered for thirty days Al
4 per cent. and for six months at 5 per cent
With foreign exchange dull and with the qucs
tion of gold exports next week dependent on
more securities between here and the foreign
markets, with United States bonds at The
highest prices yet made, at least for fours, and
with the stock market strong both as to
prices and tone. the large speculative capital
ISIS VINO Two weeks ago rescued IL lrOm utter
Generalization have since been large buyers oil
stocks and continue to buy as if the sole thing
contemplated was restoration of steadiness
to the general market. In the aggregate 8
large amount Of the better class of stocks has
been taken during the week by domestic in
vestors. Spectators who believe the recent
depression was carried to an extreme have also
been buyers and the foreign markets continue
| to take our stocks The upward course o.
prices is proof that the buying and selling has
exceeded the supply for sale. The selling
which has taken place has been, first, by trad
ers to realize protte; second, by outsiders who
bought stock during the great depression ani
get out as prices rise, but generally to buy
back at higher prices, and third, by profes
sional spectators who are s'bearish'' in theil
feeling. This latter class has probably solo
more than one-half of all the stock sold, al
though from time to time buying back wher
the market looks strongest.