The evening world., 1893-12-04
WEAK STOCKS ANNEXED.
Drop in Erie Rates Creates Un-
easiness in Wal Street.
President Porter Sees n Better
Future for the Changers.

There was a pronounced bcarish feel.
fact that prices came lower from London
and that the foreign houses had liberal
selling orders caused many Of the local
traders to change their tactics. and in
stead OF working to get prices up they
all stocks that were found to
be without effective support the notih-
cation ~ the Erie Of II reduction in rates
to the figures established by some of it's
competitors occasioncd some uneas.ness,
as It Is feared the troubles may spread
unless heroic measures are taken TO keep
rates strictly up to the official schedules.
Western Union. l rs 20 20 81: Burning
ton 4 Quincy. / to 70 7-S: Louisville &
Nashville, rs to. 81 7-s; Lake Shore, l to
st. Paul, rs to 65 il; New England. 81
to 3ol-2. aud Union Pacific. "a to 2l-2.
Distillers after selling down 5IS to &c Ia,
rose to q l-2.
Among the specialties, Wheeling G.
l:ake Erie preferred advanced 23-S to
~ is, and Louisville, New Albany e
Chicago preferred, 2 TO Il l-S. American
s. 81. '"e o. ana "ee''nea 10
President II. II. Porter. of the Chicago
d Eastern Illinois, says: II am not at
all alarmed about the future. ! win go
'.NN' 80 ~ i'''i iiiiN N'll,
Rock Island, 81 Paul, Eastern Illinois
ana all OF the Granger roads will make
out comparatively better next year than
they did last. Cross earnings Will not be
as lnrbe. but operating expenses will be
much lighter. so that the net results will
be a great deal better than laymen have
any idea Of"
The estimated gross earnings Of the
Rock Island for November are 81, $50, OOJ.
II decrease OF 4t,C02.
The posted rate for demand sterling
day bills remain nj i.Si IL.
business N exchange was, light at
mutation of bills over Sunday was be-
low the average.
on Money I TSs easy at / a IL per cent:
balance at the Clearing. House today OF
$4,000 which was liquidated in gold.
WITH the exception OF Chicago Gas and
one or two other stocks speculation con-
the, earnings of the st. Paul and the
probability that other roads will make
q poor showing led to more or less sell
Ing for both accounts. Chicago GAS was
the next dividend will be paid in cash.
Business az the stock Exchange was
dun this afternoon, operators having
devoted a good deal of their time to the
Presidents message. The Views ex-
pressed In favor of giving the Secretary
OF the Treasury greater powers in the
'h'At'i vi iSsulIlS bblilS dtlTtttel Nlllcn
attention.
The recommendations OF COMPTROLLER OF
thc currency Gckels were well received
n financial circles. A number OF the
lntted Stntes Treasury officials now in
business In this city were hearty In their
praises of Mr.. I5ckel's plan. and all
hoped for an early adoption OF his views
by Congress-.
some bank officials would go even
further than Mr.. Eckcls and would per-
nit banks to take out circulation M to
the amount OF their unlmpaired capital.
r. G. Benedict says tha. 1t has not
been Determined as yet whether to nay
tho Chicago Gas dividend In cash or
scrip. The matter will be decided at the
meeting In Chicago on Wednesday.
In regard to the rimor that the Union
Pacific Reorganization Committee had
formulated y plan for the settlement OF
the Government claim against that road.
Chairman Rrice says: "Such a statement
Ia ridiculous. az the Committee has not
finished it1 examination of the affairs of
the Company, and will not do so until
the end of the present week. IT ia likely
that II will he impossible to finish the
eSHniration bv that time"
Stocks closed firm at n rally of IL to ]
per cent from the lowest of the day.
Tn sales of stocks were 326. GA shares.
In the unlisted department 10000 shares
Of sugar and 900 Lead were traded In.