St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-11
FINANCIAL.
New York.

6l4,UIU: balances, SI.o9i ,OSU. MohOS vi
call easy. ranging from to per cent,
last loan 2, closed offered at 2%: Prime
paper 5(06%. Sterling tx
change active and strong at s4.S5 for
sixty-day bills and S4.S7 for demand.
The strong temper of the market at the
close Yesterday was not carried over
until this morning, as London prices
were lower and the opening OF their
market was slightly lower in sympathy.
The silver legislation still continues to
be the most important subject OF inter
est in Wall street, and the general feel
ing is that something will be done at
this session, although the bears try to
make all the uncertainty possible upon
the point. The disposition on all sides
to await definite action by the senate be-
fore entering new ventures, and the
market has sunk into the regular mid
summer dizziness for the time being, al
though as rule there is no lack of at
tendance at the board. Dizziness usually
involves attacks by the trading element,
and the selling to-day was principally
by that class of operators, though they
do not let declines go far and cover up
quickly upon any sign OF renewed
strength in the market. The market
showed great lack of interest to-day.
Only in the Wizards, the trusts and o.,
c., G. & st. L.. Richmond d west Point,
Lackawanna and few Speclaltles was
there any life shown. The early de-
preston disappeared Immediately with
the opening sales and strong tone
marked dealings in the early morning
with Chicago Gas as the only marked
exception. Sugar was again moved up,
the advance being accompanied by re-
neWed rumors concerning the breaking
of the Spreckles monopoly on the IA
cific coast, and later when the price was.
let off there were rumorS of decision
i'm the sugar case by the court OF APP
peals, The fluctuations. however, were
evidently the results of manipulation
pure and simple that they had no effect
for good or evil upon the regular list.
Rumors of proposed lease of the Mis-
souri, Pacific by parties in the interest
of Atchison attracted some attention,
but had no apparent effect upon the
stock of either company. Oregon Trans
continental and Northern Pacific
preferred were the features of
the regular list. both being
active and strong. Reading also
came into prominence late IN the Gay,
but the movements with those OF klcn-
mond & West Point were not specially
lmpOIIdllG. uG HlSl pllOCo oeo"iAANN1
during the forenoon invited some re-
alizations with hammering by the
traders, and the late dealings developed
a weaker tone, with material reactions
in some of the leading stocks. The
close was fairly steady and generally at
small fractions better than the opening
prices. The final changes are Irregular,
but generally in the direction of higher
figures, though in all but a few cases for
small fractions only. Sugar is up 81
per cent, but Chicago Gas is Off rs.
Railroad bonds were shade more act
i've, the sales aggregating $l,454, 900;
but the activity in Reading
Is. which contributed $4,000
to the total. was the only
special feature of the day. The same
firm tone existed, but the changes i'll
quotations were still upon the same
| limited scale. The advance includes
Indianapolis & Decatur lists. to 81:
| Government bonds have been dull and
steady. State bonds have been dull and
without feature The Post says: much
| interest is felt in the street in regard to
the sale by the city OF Baltimore OF Its
| Baltimore d Ohio stock, and especially
with regard to who or what corporation
| is likely to come into control of the rail-
road. Most persons have thought that
the purchase of the block of stock from
the city of Baltimore was made in the
interest OF either the Richmond
Terminal company or the North
ern Pacific. We have, however,
the most trustworthy lnfOrma-
ton that neither of these cor
porations is interested in the purchase.
| but. on the contrary. that the Garrett
interest formed the nucleus of syndi
cate which has bought the stock OF the
city of Baltimore for the purpose OF
maintaining the independence of the
Baltimore & Ohio, instead of allowing
it to fall into the hands OF, and thereby
become subservient to the Interests
of, any other corporation. rms does
not by any means indicate that the Bal
timore q Ohio will ever again assume
that aggressive attitude of seven OF
eight years ago by which it antagonizeo
all the trunk lines, and also all the eX
press companies Autobiography lines
and persisted in this policy under the
Garrett management until the surplus
earnings over fixed charges diminished
from 81, $50, 1854 in in 1880, or about 1519
per cent on its $15,O0O.OO0 of stock
down to $36,259, or next to moth
ing. on the. stock In the veal
1887. when the Garrett interest was tenn
porarily in the hands of Ives and Stay
nor for sale, and found no purchaser
On the contrary, the syndicate will bt
governed largely by the policy of thu
bankers who helped the Baltimore &
Ohio out of lis difficulties three year,
ago. This policy has already resulted
in restoring the earning capacity of TIN
property, and it is believed by thos'
who have excellent opportunities TO
knowing what its business is, that tn
earnings over fixed charges are nov
equal to fully 10 per cent on the stock
1t is this which has induced the forma
ton of the syndicate to hold and pre-
tect the property against any scheme
of consolidation with or annexation t
any other corporation" The total sale
of stocks to-day were 261,617 shares. in
Guiding: Atchison, 5000; Delaware