Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-01-05
Financial and Stock Markets.

cent. per annum, closing at 6 per cent. Prime
mercantile paper 6@7 per cent. Sterling
exchange, bankers bills steady at $4.S0X; on
demand, s4.S41a.
Governments-S Steady and unchanged except
for extended g., which were down X per cent
Bonds-Rallroad bonds active and higher,
Erie second consols being in demand.
Stocks-Share speculation opened at de-
cline of @1 per cent. from yesterdays clos
ing prices, Richmond & Danville leading
therein. In the early dealings a decline was
recorded in the general list running from e
to IL per cent, the latter for Louisville &
Nashville. Subsequently an advance of 1 to
OK per cent. took place, in which Louisville
& Nashville. Wabash, st. Louis & Pacific COM
mon, Denver & Rio Grande, Chicago, Milwau-
kee & st. Paul, Texas Pacific and Northern
Pacific preferred were most conspicuous. Be-
tween the first and second boards the market
fell off slightly, but recovered and made
fractional advance, Erie preferred, which sold
up1I per cent, being most conspicuous in
the advance. In the late dealings the market
made steady advance of to 2X per cent.
and closed strong. Those shares which were
prominent in the improvement were Denver
& Rio Grande, Northern. Pacific preferred,
Lake Shore, Texas Pacific, Louisville & Nash
vile, New York Central and Wabash, st. Louis
& Pacific preferred.
treasury was this morning a debtor at the
Clearing House in the large sum of $4,367,-
S33, and in addition 81 ,449 ,005 of bonds In
cluded in the 105th and 106th calls were pre-
sented for redemption to-day, SO that money is
coming out of the treasury so freely the loan
market will soon be out of reach of specu-
lative control, which yesterday established Is
of per cent. per day as the highest rate; and
to-day 1-16 of per cent, the highest rate to-
| day, was made early in the morning, and from
this rate dwindled to 1 81 of per cent. little
after O'Clock, and later fell to plain 6 pei
cent, which was the closing rate, the market
having been easy at the close. Share spec
| ulation at the opening was very weak, but it
soon became apparent that while small traders
we're shutting out short sales, large capitalists
and spectators were actively but quietly pick
| ing up stocks, and in the afternoon it leaked
out that the Vanderbilt family had been taking
up stocks like Lake Shore, Michigan Central
| and New York Central, and putting them
away in their strong boxes. This was nat
urally enough construed as meaning that they
| think the railroad war will not last forever.
| In this connection we hear that a prominent
manager of Vanderbilts Western roads is
| busy carrying on negotiations between Van
derbilt and other trunk line managers, but
| there have been so many slips between cup
and lip in this matter of ending the railroad
| war, that the public will do well to await the
official announcements before accepting as
| true even the most creditable reports or ap-
pearances. Another circumstance which set
good many old heads TO thinking was the de-
l fs yracf~ f To-
| to inspect the "Wabash, st. Louis g. Pacific
system" He has been known many times to
| change his position on the market while away
on such trips, they serving the double purpose
of putting him beyond the reach of inquisitive
| friends and giving him the pretext of think
| ing better of the situation for having seen the
greatness of the country. Whatever the true
| reasons for this turn the market may be classed
| as certainly very strong and not only recover
ed the early decline but closed X@1I per
| cent higher than yesterday.
The transactions aggregated $40 900 shares:
Canada Southern 1,60O; Central Pacific l 800;
Chicago, Columbus & Indiana Central 1,7O0;
| Delaware, Lackawanna & Western $4,000;
Delaware & Hudson 1900; Denver & Rio
Grande $4,000; Erie 10000; Hannibal & st.
Joe $4,000; Missouri, Kansas & Texas $500;
$4,000; Lake Erie & Western LOO; Michigan
Central 1000; Missouri Pacific 1900;
Chicago & Northwestern $500; New Jersey
Central $4,000; New York Central 10000;
Northern Pacific $4,000; Ohio & Mississippi
1900; Ontario & Western $500; Pacific
Mail 5000; Philadelphia & Read.
ing 7,7OO; Chicago, Milwaukee g. st. Paul
$4,000; St. Paul & Omaha 2,100; Texas Pc
ciic $1,000; Union Pacific $500; Wabash,
st. Louis & Pacific $4,000; Western Union
Telegraph $4,000; Chicago, Burlington &
Quincy 1900; Nashville, Chattanooga & St.
TOuis 000