Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-17
IN WALL STREET TODAY.
Bears Carry Out Their Program and Pric
Are Forced Down.

Bears Garry Out Their Program and Prices
Are Forced Down.
NEW YORK. Feb. 1.-THE stock market this
morning was very active, especially for the in
dustrials, which were also weak and feverish,
while the general market was comparatively
quiet within the usual narrow limits.
The advices from Washington state that the
issue of bonds had been left to the discretion
of Secretary Foster. although somewhat modi-
fed by the denial of the recorded utterances of
Mr.. Carlisle, rather disconnected the bears and
stimulate a better feeling, especially in rail-
road stocks, and there was marked indisposi-
ton on the part of the advocates of lower
prices to increase their short lines in reputable
railroad shares.
They. ne. ertheless, carried out their prear-
ranged program and attacked the industrials
vigorously, and especially sugar. from which
support had been withdrawn. giving color to
the general impression that the pool has liqui-
dated, and upon cordage, in which they we're
aided by runIor that the pool had disagreed
as to the amount of stock to be accumulated.
These two stocks therefore yielded sharply
cordage dropping quickly from 81 to 6235. and
after a partial rally to "a again retired Sugar
opened at 1874 and on very large transactions
steadily declined to 12l. Other industrial
shares declined from to IL per cent
General electric was the only exception with
an advance from l07 TO l09 Among railroad
gram. and heavy blocks Of stock were sold with
the effect Of depressing it from 46s4 to Az.
New England followed in sympathy, although
its extreme loss was only fraction.
Manhattan after opening up at l61 retired to
159, but recovered nearly the entire loss. Lon
don buying Of st. Paul, Louisville and a few
other stocks was feature of the opening and
first prices we're generally slightly higher
among railroad shares than those of last night
1t was impossible to maintain prices in the face
Of the heavy decline noted but concessions
were small. At IL O'Clock the market was still
active and heavy at close to the lowest figures.
The pressure to sell in the stock market was
somewhat modified after IL o'clock and among
the leading industrials the lowest prices of the
first hour were surpassed. More attention,
however, was given to Reading. and the trans
actions in that stock still continued on an enor-
nous scale, large blocks changing hands at
steadily declining prices.
There was undoubtedly considerable liquida-
ton. but the MAJ ority of the selling attrib-
uted to bearisn operations, and Mr.. keene WAS
said to lave given out large selling orders. The
stock retired to 42H after opening at 46sz.
Among the industrials only Chicago gas was
noted for further weakness but after retiring
t. S11E it rallied somewhat.
The railroad list was without special feature.
except a decline In Manhattan to 1851. At
noon the market was active and feverish at
close to the lowest figures. Sales of listed
STOCKS TO noon, 5Zo, lOV shares; unlisted, ,ZOO
shares.
Money on call easy at 211la3 per cent Prime
mercantile paper, Sac. Sterling exchange is
quiet and firm with actual business in bankers
bills at 4S61 za4S6$4 for sixty day bills and
4s014a4SS$I for demand. Posted rates, 4s711 ga
1897.
The clearing house statement for today is as
follows: Exchanges, SI31 ,179.S4S; balances,
s5,066,655. The subtreasury was debtor at the
clearing house today $s0l, 459. Government
bonds dull and steady.
Southern state bonds neglected. Railroad
bonds active and easier. with special weakness
in Readings Bar silver, S41s.
THE RAID ON READING.
The heavy selling of Reading in the stock
market today has attracted great deal of at
tention, while its sources remains a mystery
AS far as ascertained only 81 500 900 in gold
will go out tomorrow, LaZard Freres being the
shippers. Estimates for Tuesday, however, are
made as high as 81. 500. 900.
Handy Harmon will ship 200, 900 ounces Of
silver j. and W. Seligman q Company, so. 600
ounces, and Nesslage. Colgate Il Company,
80, 900 Mexican dollars on the steamship Gallia
sailing tO,pnrrnw