Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-23


Ind, B. & West. 500 MINIS & st. L.. 254
NJ. & c. LIST pfd.. Is do preferred. Is
do I'd prefd... Allegheny Cent. 15Z
B.. C.. Il. Il NJ. tn
tOfered.
EVENING REPORT.
Money 6@2S per cent, closing offered at per
cent. Prime mercantile paper 6@71S per cent.
Sterling exchange, bankers bills steady at
$4.7954; do. ex. demand, $4.84.
Governments Irregular, but generally "a per
cent lower. Commercial Bulletin: At the opening
the markets showed an improved tone on the in
formation that several of the large spectators
including keene, had met the previous evening
and decided upon purchasing stocks. 1t was
soon discovered, however, that gentleman was
selling, instead of buying, and the result was a
rush OF orders to part with stocks, which com
pleteiy demoralized the market, the disposition
to sell being further increased by the sales of
long stocks, particularly Michigan Central.
hOnds-fsailrOad bonds in the main higher
State Securities-Neglected
The day opened with great excitement on the
stock exchange, and dealings up to noon were on
a scale OF great magnitude and sales of stock up
to noon were 40O, geo shares, which is beyond all
precedent for two hours business. In early
transactions large supporting orders were in the
market, aud doperatorArushed in to cover
their purchases, leading to an advance of 1562A
per cent. on the closing quotations of yesterday.
This sharp rise was followed shortly before the
FIRST call by radical change in the temper of
speculation and the ''bears'' were soon in COM
pleie possession OF the market. Those who had
bad: hit stocks at the opening threw them over
board ana large teiesrlpllic orders were received
D t.r.r ell! nnth ba
AT different times during the morning the market
was greatly demora lied, aud haste to dispose
of SOCKS caused a decliue of 1@2 per cent. be-
tween the sales 10 many Instances. About noon
decided change for the better set in, and ices
recovered y o. per cent. There were free Dur
chase' to cover short contracts, AID also cousid-
cradle buylrg for Investment. Some bankers
received through cable, considerable orders for
stocks, especially for Wabash preferred.
Denver, Central Pacific and Louisville & Nash
Vile market continued to advance to the close
Of business aud not only was the early decline
fully recovered, but higher quotations than
those current at the close of yesterday were es.
tabilshed IN many instances. Transactions were
simply enormous and considerable excitement
prevailed. The advance from lowest point to-
day was a to 81 PEE cent, the latter in Canada
ion rose 21s per cent. to 81 Is per cent, North
ern Pacific 3 toz4 per cent, preferred, 25s to
81 per cent, Oregon Transcontinental 80 to
83$4 per cent, Michigan Central 3s4 to 97s< per
cent. New York Central to 1913 per cent,
Delaware, Lackawanna & Western to 1271S pc.
cent. New Jersey Genital so to 81 per cent,
Philadelphia & Read g so to sou per cent,
Missouri, Kansas & Texas 8 e 10 3lN per cent,
Texas Pacific 81 to 81 per cent. Missouri Pacific
43s to 1929 per cent, Union Pacific 2 to 1857
per cent, Louisville & Nashville, 81 to 51L
Pc cent, Denver d Rio Grands 81 to AZ per
cent, st. Paul, Minneapolis Omaha to 44s<
per cent, preferred ~ to 1929 per cent,
Chicago, Milwaukee & St. Paul, So to 1O3 per
cent, and Chicago Northwestern 81 to l343l.
These were the Leading features of the market
1t appears that several of the prominent specu-
lators including some of those VINO have re-
Gently been on the ''bear'' side of the account
were heavy buyers of stock this morning, wheo
sharp decli' forced great many weak hold
ers into selling. Whether these operators have
bought for turn with the view OF frightening
the short interest into covering, or whether they
have decided tc enter into prolonged move
meat on the ''bull'' side time will determine
Accompanying the advance of this afternoon
there were reports that upon the arrival of Off
Gals of the Northwestern roads, who are now on
their way to this city from the west, settlement
OF existing difficulties would be speedily ar
ranged. Among the specalties st. Paul, Min
neapolis Manitoba advanced to 141&. Fort
Worth & Denver to 39Z, Indiana Bloomington
q Western to 80, Richmond West Point termi-
nal to %. At one time during the day rumor
OF trouble in the Trunk Line pool was current,
but this was subsequently denied. Officers of
the Northern Pacific road, who were in consul
tation with the land syndicate, officially state
that the preferred stock to be given in payment
for land will be bought in open market-5O. 900
shares-and that a portion has been already
bought. When the full amount is obtained 81, 1000
shares will be Cancelled. The stockirm of Buttrick
Il Gilman, which suspended to-day, is expected
to resume within the time allowed by the rules
of exchange. The members of the firm refused,
this afternoon, to make public their reasons for
suspendng, but officer of the exchange ex-
pressed the opinion that they were loaded with
securities upon which it is difficult to borrow
and as margins are very great, were unable to
keep up with the market. No other firms will
be affected by the suspension, it is thought. The
afoit aid Express says Intense depression and
great shrinkage in values on the stock exchange
this morning, after heavy decline which had
previously taken place, naturally formed an all
absorbing topic of discussion IN financial circles
Beyond the railroad war in the Northwest. which
Is somewhat local III its character and confined
to few roads, there is really nothing in the gen.
eIal situation to warrant any such decline in
prices as has just taken plaza. 1t Is true that