Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-21
HAMMERING READING
The Price of the Stock Soon Forced
Down by the Bears.
NO OFFICIAL STATEMENT FORTHCOMING
Criminal Proceedings Against
Banker Rockafellow.
OTHER TELEGRAPHIC NEWS.
ANIMATED. But NOT EXCITED.


ANIMATED. But NOT EXCITED.
n Let-Down In the Dealing. I'm Reading
on the STOCK Exchange.
NEw YORK. Feb 2I-1he stock exchange. 90
usual. presented animated scene this morn
ing. but those who expected any tremendous
excitement or panic on account OF the Reading
developments were disappointed.
When the hammer fell at 10 O'Clock the bulk
Of the crowd on the floor was closely pressed
around the Reading board and operations be-
gan at once with an uproar that caused the un-
initiated in the visitors galleries to think the
bottom had dropped out Of Wall street But
the throng of traders was not as great as that of
yesterday nor were operations nearly 80 heavy.
Reading opened at a slight advance over
y yesterdays closing. viz. per cent to 81.
The hammering which began as .oon as voices
could be lifted aud hands upraised quickly nulli-
fed the improvement. and in less than three
! minutes the unlucky stock went down 60 2ssk
! In ten minutes the Reading crowd melted
away TO about thirty operators. who maintained
the war with vigor. The transactions in the
trst hfteen minutes reached 5000 shares. lees
tnan half the number sold in the same time
7 Yesterday, which was 1876 400 This 10 q fair iu-
dication of today's excitement rs compared
with that Of yesterday.
Considerable activity was shown around the
| New England board. That stock followed
Readings dropping tendency and fell away
| fror. 4Ols TO Ssis a. Transactions in the stock
however. were not heavy
The visitors galleries crowded with per-
sons eager TO zee something. Old stock
change frequenters said there more ex-
ciisment In the galleries than on the
noor. Although the excitement over Read
ing in the exchanges seems practically over,
tne Reading developments continue TO be the
absorbing topic of discussion in Wall street
circles. The announcement was made by Presi-
dent Parsons that no large blocks IL New Eng
land had changed hands
| EFFECT ON LEHIGH VALLEY.
There was considerable talk as TO the possible
effect on Lehigh Valley. This was quieted by
Vice President Garrett, who urged that the
| Lehigh Valley lease would not be affected an
any way by the Reading rereivership.
Heading. he said. Twill be in q better posi-
tion 10 meet it's obligations than before because
1t viii be operated under the protection of the
/ court"
The only official statement about Reading
that has been made public in Wall street comes
from A. j. Antelo. one Of the Reading board
Of managers, who states positively that
Readings floating debt is only 90. 600 oo0
or this one-hslf. he saws, is due TO
Speyer Co.. the bankers Of this CITY.
who made that advance upon the security % =
deposit OF collateral trust De. The remain
/ ing Fo.VVV.VVV Que TO fhladelphln
capitalists, who also hold deposits as
security. Mr.. Antelo attributes the Reading
crisis to attacks on the companys credit by
rumor. He says that Reading will recupsrats
and be stronger than ever, being backed by
| richer and more influential men than before
He thinks a year the extreme limit for the road
1 to be in the receivers hands.
BROKERS sKYLaRKISa.
NEw YORK, Feb. 21, las p.m.-The excite
ment even in the Reading crowd at the stock
exchange. where brokers now are standing
round talking and skylarking with each other
seems to have completely died away and orders
| TO buy or sell 100 shares can now be executed
! without trouble.
Mr.. PLArT's pESIALs.
Ex-senator Platt, who has just returned from
Philadelphia, said that he made the application
FOR q areceivership to protect the interests both
Of the Reading and the United States Express
He is an intimate friend Of Mr.. Mcleod. and
| says the receivership is friendly one and that
the results will be eminenay satisfactory to
both the stock and bondholders Of the COM
psny.
He also adds that neither Mr.. J. Pierepout
Morgan nor the Nanderbilts had anything to do
with it,
Notwithstanding denials, however, o large
portion OF Wall street still attributes the turn
over in Reading TO the Morgan Vanderbilt
Interest and positive assertions are made
4
troll at least of New England They are ..id 10
have picked up the greater mart of the lO5. .O0o
shares Of New England suppo,ed 10 have been
dropped BY the Philadeiphia syndicate.
Mr. parsons /, h. .lso ga b.s ..-.,s ,-;.,
the New Haven interest TO turn over bis entir.
holdings of New England as soon as the MOI
gan-yanderbilt interest has been enablsd to
| buy in enough stock 10 give them control
THE PHILADELPHIA MARKET STILL EXCITED.
rhiLApfLfhiA' req. 2l.-heading developed
! little strength at the opening OF the stock
market this morning. the first ouotation beiny
Is I-ls q g.ip Of I-,e ov.r v.s,.ra.,,. -,
figure II then rose 70 ISL hnt rs.c,,a,, ,,,,s
lowed which semi !, down a. Ia "a 60
fractional Io.sas AMI oa;ns =, - 1a,.s ..s
latter f,gnre at M. .ao o'cIocl WIG
Altbonch the air ~ nys,e-v .r--or,a;,,, A..
Ra.dinc,s tronblas r. -. ...oI,. %
hv the annoin,ment Of ,hs ran.!,a.s ~ .....'-i
10 sell Continued 'e pressure
Iebicb VALLEY on.,.a ., 40 .;x,<
tbe clos;ng n,ios ,as,a,Sa. 80 ""
n,e. Il h.d drrnry.d he,. S.s IN rev MIN
tinned until AZ M 90 !, ,onohaS e1ie Is % eon
., .ose 70 no In Inc excitement IN the market con-
tne headings receivers give out the promised
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