Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-08-04
Financial and stock Markets
MORNING REPORT.

mdHitOod. OulCdRO N NOTInWestern common
and preferred, however, opened 1 per cent.
lower. In the early dealings there was a frac-
tional reaction in the general list, but the
market subsequently, became buoyant and
prices sold up Il TO 8 per cent, the latter for
Chicago, Milwaukee & st. Paul preferred and
Illinois Central, while Chicago & Northwest
ern common sold down per cent, recovered
per cent, reacted per cent, rallied Il per
cent. and again fell of 1 per cent, and pre-
ferred advanced 81 per cent, declined 4 per
cent. and recovered 1 per cent. Rochester Il
Pittsburgh was exceptionally weak aud de.
clined a per cent. At IL O'Clock there was
general reaction of 1s@N per cent.
AFTERNOON REPORT.
Money per cent. Prime mercantile
paper 596 per cent. Bar silver. $1.l3X
9l.l4. Sterling exchange steady; $4.S515 long,
s4.SSH sight.
Goyernments-Unchang
State securities-Inactive.
Bonds-Railroad bonds generally fraction
higher; Texas Pacific land grants, however,
were Q per cent. lower.
Stocks-After IL O'Clock the market con.
tinued active and after fractional advance in
some shares prices fell off 149lX per cent. /,
Rochester 81 Pittsburgh, New Jersey Central,
Chicago s. Northwestern and Wabash, st.
Louis 81 Pacific being most conspicuous in the
were Chicago, Rock Island & Pacific, which
advanced a per cent, Oregon Transcontin-
entail and New York Central At noon, al
though somewhat irregular, the general tone
was weak.
EVENING REPORT.
Money 1885, per cent. Prime mercantile
paper 5G6 per cent. Sterling exchange,
bankers bills steady at $4.S5H; do. ex. de-
mand, SASSY.
Governments "a per cent. higher for ex-
tended fives, e per cent. lower for fours cou-
pom, and unchanged for extended skies, four
and halls and fours registered.
Bonds-Railroad bonds irregular on mod
crate volume of business.
State Securities
Stocks-The stock market opened 1@2 per
cent. higher than the close yesterday for St..
Paul & Manitoba, per cent. higher for Chi
cago Il Alton, and 1s@5s per cent. for The re-
mainder of the list, except for Chicago 81
Northwestern, which opened 2 per cent. lower
but recovered. Immediately after the opening
Chicago 81 Northwestern declined 5 per cent f,
st. Paul 81 Manitoba per cent. and the gen.
eral list 1s@ss per cent. The market then
began to advance and by 1870 prices had risen
5per cent. for Chicago & Northwestern, 81
per cent. for preferred, 3 per cent. for Chicago,
Milwaukee Il st. Paul preferred, 8 per cent.
for Illinois Central. "a per cent. for Chicago,
Rock Island & Pacific, TX per cent. for Chi
cago & Alton, Ia per cent. for Chicago, Bur-
lington & Quincy, ~ per cent. for Michigan
Central, IL per cent. for New York Central,
Ia per cent. for st. Paul & Omaha, l 4 per
cent. for do. preferred, IL per cent for Ore
gon Transcontinental, per cent. for Union
Pacific, per cent. for Denver Il Rio Grande,
and 1s@% per cent. for the remainder OF the
list. About noon there was decline in prices,
followed by recovery and rather strong mar
ket. Early in the last hour there was declIne,
however, OF ~ per cent for st. Paul g. Man.
itoba and 1s9% per cent. for the remainder of
the list, the latter for Michigan Central. In
the last half hour the whole list became
strong, but III the last five minutes a small
part OF the advance was lost. The market, at
the close, was irregular. Speculation con.
tinues bullish. There is neither official con-
frmation nor denial OF the reports concerning
coming stock dividends TO shareholders of
the Chicago q Northwestern Railway COM
pany On this subject the Ercning Post says:
"Undoubtedly many millions of dollars have
been diverted, in years past, from the dividend
fund to construction expenses. and stock
dividend would rest on the claim that stock
holders are entitled to some representative for
the money SO diverted. Seine branch roads
tuow moderately profitablel were Improbable
for several years after their acquisition, and
money was diverted from the treasury of the
compasy merely to operate them. Capitalize
ton of this money would simply be the cap
italizition OF business losses. AS TO the wis
dom of increasing capitalization, the tenor of
conservative opinion Is that it would be well
to wait until, at least, the company could
carry the present rate of dividend and interest
obligations over, say one year. OF bad busl-
ness" The Commercial Bulletin remarks:
"There is nothing new respecting the rumored
forthcoming stock dividend on Chicago 81
Northwestern. The officers of the company,
excepting Mr.. Keep, know nothing of it.
Keeps lips are sealed by Vanderbilt, who, with
his sons, w. l.. Scott, Foster, Dewey and a
few Others own, it is said, five-eighths to
three-fourths of the stock" The Telegram
selling movement IN stocks, but it is admitted
that putting down prices, in the present state
of public temper, is laborious and expensive
work. Keene's brokers were large sellers.
Deserters from the pool are reported to be in
creaslng daily. The late decline in Rochester
g. Pittsburgh stocks resulted from an impress
sion that the company will dispose of its
ceeds to purchase in bonds. A report was cir
culated, late in the afternoon, that Keene was
heavily short of Western Union Telegraph.
The Graphic says: "The loss of the Lake
Shore road by the collision at South Bend will
probably reach $aOO, OO0." Approximate earn
ings of the Denver & Rio Grande railway the
fourth week OF July, sl56,s94; since the LIST of
January. $s,647,4oO.
The transactions aggregated 4S5, GOO shares;
5000 Delaware, Lackawanna & Western;
10000 Denver & Rio Grande; II 600 Erie;
"a ,O00 Lake Shore; 5000 Louisville s. Nash
vile; 1000 Michigan Central; IL 200 Chicago
& Northwestern; 10000 New Jersey Central;
$1,000 New York Central; $1,000 Northern Pa
ciic; $4,000 Chicago, Milwaukee, st. Paul;
IS, 900 St. Paul & Omaha; 16, 900 Texas Pacific;
81 900 Union Pacific: 10000 Wabash, st. Louis
& Pacific; 1000 Western Union Telegl n;
5000 Illinois Central; 5000 Chicago, Bur-
lington & Quincy; 5000 New York, Chicago
& st. Louis; 5000 Oregon & Transcontlnen.
al; 5000 Rochester q Pittsburgh; $4,000