St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-15
FINANCIAL.
New York.

sl35 423, 49s; balances, 1889, 55i. Money
on call easy, ranging from . 10 z per cent !;
last loan 2; closed offered at 2. Prime mer-
dull but heavy at S4.S1A for sixty-day bills
and $4.S6 for demand. The stock market
to-day was dull with moderate business in
a few stocks only, and while irregular was
weak during the greater portion of the day
and declines are the rule this evening. The
furry in money yesterday encouraged some
manipulation this morning. but it met with
no success. and the best rate obtained was
per cent, while after the abandonment of the
efforts TO get higher rates it sank
back to as low as 3 The Reading
excitement was entirely stilled and relieved
from this incubus the market showed
marked inclination to rally, and the open-
ing figures were generally from Is to l2 per
cent better than last evenings figures. and
the room being generally in favor Of rally,
further fractional gains were scored in the
first few minutes trading. The bears. how
ever. had no intention OF permitting any such
movement, and, casting around for Vulner-
able spot Atchison was hit upon, as there
was some selling for Boston account in the
stock. Rumors in regard TO the voting trust
were circulated, hut, owing 10 the Reading
episode. voting trusts are not in favor at
present in Wall street, and both the success
and probable failure OF the plan were made
excuses for selling the stock down. Its
extreme decline was per cent and the
list. which was something of a sensation
after a long period of stagnation to which it
has been subjected. The success in AtchIson
encouraged further pressure upon the
coal stocks and considerable liquida-
tong was induced among the smaller
bulls, who are tired of waiting
for an advance. The opinion of Chairman
Walker in regard 10 the Union Pacific North
western alliance became known toward the
close and resulted in selling Union Pacific
q fraction az ,isatn
the remainder of the LIST. The liquidation in
Wisconsin Central mace further progress and
that stock was'moderately weak throughout
the day. The market was devoid of
other feature and was subject TO al
ternate periods of weakness and stagna-
ton. the general drift of prices being almost
steadily i'll the downward direction after the
frs. rally. The unlisted department was as
sugar was moderately active, and Illinois
Coal and Coke continued 10 creep up, and
passed %. The final changes are declines
in all but few eases. and Atchison showed
loss of la and Lackawanna l per cent, but
the others are fractional amounts only. Rail
road bonds were quiet and the leading issues
sank back into d secondary position in the
market, while the Kansas and Texas issues
came to the front. and. after material de
cline, rallied handsomely in the IS and
rs, while the 5s closed at the lowest price
of the day. Out OF the total of
81, 100000 the Gs contributed 1920, o
and the rs 100000. The general list was
barren of feature ana displayed little change
being steady throughout the day. Oregon
Navigation lists rose to Il3. Kansas Pacific
IS of 1876 2 20 l00l2. The Post says: The
speculation in the Wisconsin Central COM
mon stock (l2. 600 O00) has been based on
the prospective profits of the contract made
in May with the Northern Pacific for its opera
ton, by which the Northern Pacific was to re-
celve 80 per cent OF the gross earnings for its
operation, and the Wisconsin Central 10 re-
fri11 1f
charges. The operation under the contracts
is said to show Il surplus of 500, 90 over
other fixed charges, applicable to payment
of interest on the income bonds, of
So.566,0U0 have been issued and listed
on the stock exchange. The total interest on
the amount outstanding would be S32S,3 ~,
and if the surplus for the five months over
other charges is correctly given, it would be
al the rate of $3.50, QUO for the year. AS the
operating expenses are stated as having been
only 75l2 per cent for the five months, and
are likely to be less vthan the stipulated o.
per cent for the year, the Northern Pacific
will receive, according to the contract, one
half of the difference below the 80 per cent
The probability that the interest on the in
comes will be more than earned, and the
fact that the Northern Pacific would have its
half of the difference between 80
operating expenses IS guarantee fund.
has probably given rise TO the rumor
that the Northern Pacific would issue a
lower rate of interest security in exchange
for the Wisconsin Central incomes. Gov
eminent bonds have been dull and steady
State bonds have been duh and featureless.
The total sales of stocks to-day were I3s, 42l
shares, intending: Atchison, 10, 40; Della
ware, Lackawanna & Western, "a. 26O; Kan
sas & Texas, 1888; Missouri Pacific 500;
New Jersey Central, 9, 725; Northern Pacific
preferred, $500; New England, $3.50;
Reading, 5000; Richmond & West Point,
d.. n. ~ r-ga.a