Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-24
PLOTS To GUST MCLEOD.
Many kumors Floating In Wall Street
Make the Market JneaaY.

many Numors Floating In wall street
Make the Market Uneasy.
NEW YORK, Feb. 24-Ths feeling in
Wall stree. over night was very uneasy
and bearish talk found ready ciroula-
ton this morning, no matter what portion
Of the list it might apply to. The hquida-
ton in New England IL believed TO be
by no means complete. and hints that the
Reading will find the load in its crippled condi-
hon as hard a one to carry rs the Parsons man
agement found it. while the broad hints Of
measures to Dust Mr.. Mcleod from the receiver
ship had due effect
The Northern Pacific was threatened with q
receivership. and although insiders have been
most emphatic IN their denials of any possibility
OF such thing, liquidation still continues in
the stock
The opening Of the stock market Was at
tended by considerable excitement and heavy
transactions. The selling. however. vas largely
TOT the short account. while first prices showed
losses extending TO ! .. per cent. Western Union
leading. The subsequent pressure WAS princi-
pally among the industrials Reading WAS
stubbornly held and was comparatively quiet.
Western Union. with the rest OF the list re-
tired only a small fraction from it's opening
*, New England "a. Chicago gas
/ 2}s. distillers % and Northern Pacific
/ preferred per cent The decline
brought in some support and Northern Pacific
! preferred showed special strength. recovering
| all of its loss with something in addition.
Western Union and the grangers also displayed
considerable strength and were brought I'D be-
/ yond their first figures.
Among the industrials distillers also recov-
cred nearly all il lost but the rallies in the other
weak stocks were only partial. At III O'Clock
the market was still very live and firm at the
| rally.
The rally in the stock market was owing TO
the inability Of the shorts to resist the prices
established in the first hour but stock was sup
! Piled so freely that the demand soon Stacked
away. and as rule, prices went back among
the speculative shares to about the lowest
| prices of the first hour
The selling of sugar, however was on a larger
scale, and the belief that the ssles of the last
few days have been for the account Sf the pool
deprived that stock OF the support accorded to
the rest Of the list and further drop to ll3a
was established before the decline was checked.
New England was also again pressed for sale
and touched 81 against 81 last evening
The coal stocks, especially Lackawanna and
Delaware and Hudson, were particularly strong
and partially recovered from Yesterdays loss
Lackawanna rising Is. to IA, Delaware and
| Hudson, TO 126, and Jersey Central, 1 to lI9
| Railroad stocks were bought on q scale and
failed to respond to the late declines among the
leaders, and further improvement was made
toward noon, Burlington showing an advance
| OF per cent.
At noon the market was still active and gen.
orally firm at fractional advances over first
| prices.
Sales Of listed stocks to noon 2ss, 700 shares,
unlisted u.s. 400
mercantile paper, 5a61s Sterling exchange is
! quiet and firm, with actual business in bankers
bills at 4.S6a4 S6 for sixty days and 4. So. a
ASH for demand. Posted rates. 4 S7a4 S9lr
The clearing house statement for today is as
follows:
Excboro.s A,oe orc COZ h.,.. >c con
LOG. The subtreasury was debtor at the clearing
house today Ss04. POP. Government bonds have
been quiet and steady to firm. Southern state
bonds neglected. Railroad bonds active and
irregular. Bar silver, $685..
FALL IN NEW ENGLAND.
Today q story was circulated which, il true
accounts for the decline in New England. 1t
was to the effect that the same combination
which is reputed to have brought about the
| downfall of Reading fs again at work, intend
| ing to prevent the Heading people from taking
possession of New England at the stockholders'
meeting March IA.
President Clark and Vice President futile
! Of the New Haven road say. however, that no
one connected with their company has bought
single share Of the New England stock. They
add that the only reason they can give for the
resignation of President Parsons and the four
directors is that they have become tired Of
sustaining a road which has no future.
According to this story. while the Reading
people are in control vet. the property can be
acquired by the Vanderbilt interests through
. careful mauipulations.
New England was also very weak in Boston
and the preferred stock declined BY III O'Clock
no less than thirteen points from yesterday $
closing price. BY noon the preferred stock.
which is not dealt in at the New York stock ex-
change. was quoted at So This had depress-
| ing effect on the common stock
PHILADELPHIA, Pa, Feb. 4-Reading took
another drop at the opening of the stock
market this morning. 1t sold at Is l5-l6
against IA Lie, last nights close