The evening world., 1893-10-31
BEARS FORCE PRICES DOWN.
No Boom in Stocks Followed
Repeal by the Senate.
All Clearing House Certificates to
BE Cancelled To- Morrow.

The repeal of the sherman Silver law
was vigorously discussed in Wall street
to-day, and the belief obtained that the
effect on the markets for securities
would he most favorable.
Some of the smaller shorts were par
ticularly nervous and paid higher prices
for stocks than those ruling at the close
o. the Exchange yesterday. ,
The greatest curiosity was manifested
as I! tn manner ia which thg news
that when the carly cables brought
materially lower prices brokers ana
spectators were disguised, is 10 put II
mildly.
The quotations from abroad, as usual,
were received long before the opening OF
our market, and Il break was set down
as almost certain.
markets say that there is no doubt that
the hears had "a wcll-laid plan to break
the force of the success of, the repeal
by knocking prices in London hoping
that this would dCmoraliZe holders here.
There was a tremendous rush to sell AZ
the start, and under the leadership of
Sugar. which broke 25,S to lOl L.. the
whole list yielded rapidly.
There was no let up in the pressure
for fully fifteen minutes, but then the
shorts began to cover and n rally OF l.
to . per cent. enSued.
This only served TO make the bears
still more aggressive, and under offer.
ings of round amounts prices wen
lower than ever mid considerable eX'
element.
\ member OF the Reading General
Mortgage Rondholders' Committee says
The interest on the 4 per cent. bonds
will not be paid until the earnings of the
road Justify such n step by receivers.
The business of the road Is improving
and viii show. greater Improvement
with the revival of business consequent
on the repeal of the Silver Purchasing
act ,
The observation-disclosures Loan Committee
cancelled $5l5,00O loan certificates to-
day. The fetal amount outstanding Is
The Clearing-H House Loan Committee
vii cancel all The loan certificates out.
standing $500 oM morrow, and will
then call "A meeting for next week and
ask to be discharged.
The Clearing Hous will issue n de.
tailed bank statement next Saturday. II
viii be the first detailed statement since
June II.
Receiver King. of the Erie Railroad
announced to-day that the interest OF
the First Lien is. amounting to $1,000
due NOV. |, will not be paid.
Provision has been made for the in,
t"rest due IN the same date on the
First Extension IS. Collateral Trust Is
Chicago u Erie 5s, and New York
Lake Erie Il Western Coal and Railway
Guaranteed G5.
Sales of stock up to noon were $40. OOC
shares, = much larger aggregate than
"T"i' -. 7S!'rItls Sp.Cuih'I oi
Iua,Lri IP"h ana at intervals was posi-
Ivy Huatc A., ,,oir no,, ,r,u,
rur,nTo p'a nsm nlr fgS'r pest TO priIs appu,
Win greater rGstatance and there were
Tbc !ifrntiih "iori - mr. mn, inns hr w l.
Cnnm,, '''In.'1,i p PuI mus ny w. f.
"'mo,. umr Nvli hnoWn op'rAtor' IN
~ T'',y"i'nu rriltC,S me Views OF tht
49, as " - Tn",s WIZ oi ours a!'
'NUr,,'''m 81 me IStu-Ll-tht-"n pears;
b, ~, saIiin, ~, H.'C,S vtIu"S Sn"NE
,."tn Tbosn va w 'dTmtlS I'et'e ~
,".,r, : n ~ ,l'' nay ulSpoSeh OF III,
,ir,,ii,, ,% CT p.'n praiS Mno nav
bnnvrnn'F .nhI "H', ,"I SnTbo interest, an
"ah' .pEi ii.p " purchasing nlaIket
va, u"'ih u irIClion mas peei
40 ~ Troadop No ""n T'Ir r pCtHnpS as la
W., rrantt ,TbGsn st"ctt thnH'S nt'iMg
that can and will protect them" ''
Money lent at l. a , per cent. on
w,
un,n Th,rn u.or, ea,.orn Lrn 49,
,i.,, - mi -. 60