The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-05-30
FINANCE AND COMMERCE.
New York Stock Market.

New York Stock Market.
New YORK, May 29.-The stock mar
ket opened mparatively firm and
leading shares made fractional advances
on the final quotations OF yesterday,
while consolidating Jumped two points,
but the bears soon started on ano Their
raid to catch stop orders and in a short
time some stocks scored Material losses
General Electric was the principal
sufferer, declining from 6715 to G44 on
large sales. Distillers about the same
time broke a1S to 16 Reading was sub
sequently pressed for sale aud fell five
points to 1865. This. together with drop
of to s per cent. in bonds, added TO the
weakness of tho general marke', an |
during the afternoon Chicago Gas. Lack-
ewanna, Louisville and Nashville and
Western Union yielded to 23s per cent,
and Jersey Central dropped az to 1CGl4 {.
The heavy pressure to sell Reading was
due to tho disappointment felt concern
Ing the readjustment plan. moro par.
tcularly in the tying up of ock in
rating the trust for series of years.
The rumors of tho probable heavy
gold shipments by Thursdays steamers
aided tho decline in general list. 1t
was noticeable, however, that the efforts
OF the bears in the cases of the Rock
souri, Pacific, Burlington and Quinc "
Lake Shore and Atchison met with
comparatively little success. Near the
close the General Electric bounded up
3]6; Cordage, common, *; preferred,
0, and Sugar Is per cent. There was a.
sharp borrowing demand for stocks
throughout General Electric at one
time commanded Is tor use and later
lent at l-32 Sales: Listed, 3O5 ,0oo
enlisted, 10000 Sub-treasury balances:
Coin, $50, 50l 900; currency, SIS, 474 900
Chicago Markets.
CHICAGO, May 29.-Wheat to. day sold
at, with one exception, the lowest point
il thirty years. The single exception
was in 1887 during reaction from in
fatioD caused by tho running of a
corner by Harper, the bank manager Of
Cincinnati; grC at receipts with littlo
outlet for the wheat, fine weather,
weaker cables, financial tightness and
heavy load of wheat carried here all
acted as depressing influences. The
cash prico broke below 20 cents early
and decided many wagers made on such
figures. Then on the shaky feeling
May touched 6sl4, q price reached but
once before since war times. Liquda-
ton WAS on stupendous scale. Stop.
loss orders were pouring all day and
margins wero wiped out almost every
moment, causing large lots to be thrown
on inc market and short sellers were
encouraged to operate with increased
freedom.
Corn was easisr, butsmall st: cks made
sellers careful, and the days decline
w1s only Is CENTS on Jul5, but MAY
dropped l cent. The feature Of the day
was the taking in of many of the large
short lines Of July and putting on
pa!s OF September Oats were unsettled.
PRICES declined 14@1M early. After the
decline there was better feeling and
prices reacted to tho opening figures,
the market closing steady for July and
September, with %@% lower for May
and June. Charlie Wright played with
pork, sending the price off 81 on liehs
business. Few spectators were caught
or stop orders, and Wright got the pork
and then rallied the price 80 cents in a
few minutes. Lard and ribs closed re-
spectively is cents and 20 cents Lower
tcan Saturday.