New-York tribune., 1886-01-12
JLOSIYG PRICES or PHILA DELPHfI STOCKS
Reporied BIZ COLLLs e LEVY. No 10 Ne,c-sk
MONDAY, Jan. 1l-P. VI.

MONDAY, Jan. 11-P NJ
The stock market to-day opened under cloud The
Baltimore ard Ohio Railroad announced cut on passen-
rates from NewYOrk to the West aud Southwest Of
So 1t necessary to understand that the situation is
changed particle from what It has been for two
months Passengers all the time could travel from New
York to Chicago by purchasing tickets over the Penn
sylvanla to Wasbngton. and there buying tickets
the Baltimore and OHIO To Chicago, and thereby save
81 50 on the regular rates from New-York;
so that tha cut amounts only to 80 20 and cOmpels
a circutous route. The trouble lies between
the Baltimore andOhio and the Pennsylvania railroads
tile Pennsylvania maintains the privilege OF taking
passengers at Washington for the West and carrying
back through Harrisburg at the rates the
Baltimore aud Ohio charges by its direct short lines
The fight, therefore, is really between the two COM
panes. The sensational manner Of the Baltimore and
Ohios announcement this morning may be explained
ON me theory that the company upon purely business
considerations had decided hat 1t better for 1t to
mako It's fight for status in the New-York
business than TO do 1t after its own
lines had reached terminus upon
New York Harbor We have lot doubt that the stua
ton will be recognized aud accepted by tbs other trunk
lines without any unnecessary delay Nevertheless, It
the threatening or another railroad war whlch l-
sent prices on from saturdays closing something De-
tween and L per cent The announcement 0t the cut
from operating; but II did more than tat 1t frightened
real holders into sciug ami encouraged operators
OF " bctrish" prOcuNlty 10 put OUT
free lines II is noticeable. however. that
during the first hour the lowest prices for stocks were
made. subsequent transactions were made Mt huctu-
ang figures always above the lowest prices OF the first
sterling exchange to-day little sitter and the
bugaboO OF gold exports during this week was used to
the market. While tine conditions or the foreign
money markets are such that they more want our
gold than they want wheat. itts OF nerest 10 Sc
what effect OF the export OF 2500OOOO gold would
be upUn our bank II during the next few
weeks should export S15.0OOO0O god and II should
al be drawn from the deposits Of the associated
banks of Newlork and the loans should
remain unchanged from what they were last
saturday, the surplus reserve siil remaining would
amount To $4,000. 900; and that without taxing into
account tue aocretOns OF money which usually come 10
IN banks during the first Two months 0f the year.
Hence that The prospects OF gold exports at the
present present errOrs to the money market.
The business stocks for the day amounted To 2s7.997
shares The dea nss principally I'm st. Paul. Lake
Western. aud Central and Hudson After the early de-
cno there sharp recOveries 10 pretty near the
opening figures but In the late dealings another depres-
left the closing figures on an average at least half
way the bes aud the lowest prices OF the day
1hc market closed dul.
state bonds were inactive and steady. South Carolina
non-fuudabes sold at y aud Brown consOls at 1872
Virginia IA deferred were Il higher at l24 or city
bank stocks Commerce sold 40 at l65
Government bonds dull and steady, with the bids
for tho IS oil L per cent Annexed are the closing quo
tauOns: