St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-12
FINANCIAL.
New York:


Special to the Globe.
NEW YORK, Jan. 1.-THE controlling
factor in the stock market to-day was the
announcement that the Baltimore d Ohio
had cut passenger rates to leading Western
points. 1t was stated that this move had
been made by Garrett to force a recognition
of the claims of the Baltimore & Ohio bv
the trunk line pool. Everybody expected a
sharp break in the stocks, and the opening
verified expectations. About everything on
the list opened off 150% of a point and
sold down more during the first hour. Erie
seconds declining 9 points. The Wander
bits and Changers were weak, but appar-
emily supported on the decline. The coal
stocks and Gould specialtes were strong
after the opening. In spite of the general
downward tendency of the market, there
was more talk of an advance of Erie, but
well-infOrmed traders gave it as their
had realized. Northwestern earnings
for the first week in January de-
creased $4,000, and ST. Paul for
the same period increased $40, S62. The
outlook for the second week. however, was
considered very unfaVorable owing TO the
recent storm. which greatly interfered with
traffic. The tendency of prices toward the
close was downward. st. Paul and North
western were about the weakest stocks on
the list. The temper of the markets an
peared to be feverish, but traders generally
do not care to sell short. What few selling
orders came on the market were mostly of
realizing character. ST. Louis d San Fran
cisco earnings for the first week of January
decreased 81, 600. About all the news of
the day was of bearish character, and in
Al.
market was taken by conservative operators
to indicate that while there might be tenn
porary reactions the bulls were still in con-
troll and that values would slowly improve
The days business was on the whole good,
but closing prices were generally near the
lowest point reached in several days.
BANK OF MINNESOTA.
Paid Up Capital $500, 900; Surplus $50, 900.
WIN. DAWSON. Pres. RoBT. A. SMITH V Pres
ALBERT scHEFFER, Cashier.
GILFILLAN BLOCK. ST. PAUL. MINI
NEW YORK, Jan. 1l.-Government bonds
were very dull and steady. State bonds were
dull and about steady. Railway bonds were
moderately active, with sales of 81. 1885, 600.
The greatest activity was in Erie I'd consols,
Canada Southern DDS, Texas & Pacific Rios.
Nickel Plate lists. Denver a. Rio Grande
Western LIST and the Atlantic & Pacific issues.
Closing figures show irregular changes. but
generally higher. A combination of adverse
reports tended to depress stocks The most
effective was the announced cut in west
bound passenger rates of the Baltimore &
Ohio railroad, and later it was learned the
company, in addition to the pub
lished cut was Offering COM
mission of 81 10 agents OF scalpers.
for placing its tickets. The light movement
Of freight, both east and west and the condi-
ton of the coal trade, also had their effect
Prices were p TO a lower than the closing
figures of Saturday. and before the end of the
first hour there was further decline of as
much more, but by that time the decline was
checked, and a rally followed, so that at noon
prices generally did not differ from the open
ing figures The market continued quiet, but
strong, until after O'Clock, but during the
last hour, and especially during the latter
part of the hour, il yielded fractions. and
closed irregular. The Vanderbilts, the Grang-
s4rs E~iA . aA Huntsville & Nashville suffarAs