Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-08-01
EVENING REPORT

EVENING REPORT.
Money active and loaned up from 3116 10 s
per cent. per annum and down to 4 per cent,
closing at 5@6 per cent. Prime mercantile
paper 5I6 per cent. Sterling exchange,
bankers bills steady at s4.S515; do. ex. de-
mand, $4.SS1S.
ACKNOWLEDGEMENTS and in the main &
o. per cent lower.
Bonds-The largest transactions in railrOa
| bonds were in Texas & Pacific firsts, Rio
Grande division, at 9l@9l15; next in order
Erie second consols at 9S99S1, and next in
| Chicago, Milwaukee & st. Paul frsts, South
| ern Minnesota division, at 10S@10S1s. Sales
of other issues were small and it continued to
be difficult to fill round order for any of the
| choice issues of the old roads at anything like
| current quotations. Tomorrow is the last
| day when Boston, Hartford & Erie bonds can
| be lodged with the treasurer OF the New York
| & New England r .ilroad company, at Boston,
| for conversion into stock of the New York &
New England, which will have the privilege
| of subscribing at so per cent. to the 34,7OO
| shares of the company's stock recently bought
| from the state of Massachusetts, Stockholders
| on record August will then have until Au-
| gust Is in which to decide whether they will
take pro rata interest in state stock, but nc
others can share in the purchase.
State Securities-Without feature except fol-
Tennessee mixed, which are 30 per cent. lower
Stocks-The stock market opened rather
strong, but it soon became apparent that
active efforts were being made to bring about
| a downward reaction with the loss of as little
stock as possible. The result OF the fluctua-
| tions up to about l O'Clock was fractional
decline in active stocks ard larger one in
some of the specialties. The determination
of some leading spectators to force a down.
ward reaction in the stock market was fully
developed in the last hour, when, as a raid to
the movement, rates for call loans on stocks
were bid up from 8 to 81 to per cent, this
Notwithstanding that tomorrow the treasury
begins payment of $1S5, 100000 cash. The
stock market, in the last hour, was freely
| sold down, chiefly on short sales, and it was
| given out that the market was to be kept weak
| and unsettled for a day or two more. In thC
main it is to continue bull market; ther
such reaction as is promised will, in the long
run, work in favor of high prices. Among
those anxious for a reaction and working fol-
it, are the believers in higher prices early il
August. The lowest prices OF the day wer,
made about 2:40 o'clock, from which time
until the close there was fractional recovery
| The market closed strong.
The Euening Post says: "The public con-
| tiuue buyers of stocks and the situation, SO
far as relates to stocks, is as favorable for full
prices as it has yet BEEN"
The transactions aggregated $4,000 shares
1000 Central Pacific; $4,000 Delaware. Lacka
wanna & Western; $4,000 Denver & Rio
Grande; 10000 Erie; $4,000 Missouri, Kansa!
& Texas; 14,0G0 Lake Shore; $4,000 Louisville
s. Nashville; 5000 New Jersey Central; IA, 0Ot
Northern Pacific; 5000 Chicago, milwaukee,
& st. Paul; $4,000 st. Paul & Omaha; 1906
Texas Pacific; $4,000 Wabash, st. Louis
Pacific; 10000 Western Union Telegraph
5000 Oregon & Transcontinental; l4,O0(
Rochester & Pittsburgh.