The evening world., 1893-09-28
SHORTS BADLY. PUNISHED.
The Stock Market Goes Up on
Washington Advices.
Lackawanna scarce ana Command
ing High Prices.

With the exception of General Electric,
which fell off 3-S to 80 "a, the stock
market opened strong, with an improv-
ing tendency.
Inc bulls were encouraged by IL sharp
advance in Americans at London and by
the light offerings of stocks here. The
leading features were New England.
Sugar, Chicago Gas and the Changers.
New England rose ] IL To :. - l'l'r-
linston and Quincy 49, to M'->. AmG'.
to 50, Western Union ~ tr ~ -, North
west "a to % IL. Distillets rs to . -;
Rock Island 5-S TO ~ ~, Louisville and
Nashville 81 to 81. Northern Pacific pre-
fcrred to - IL, and Union Pacific 81 20
20 "a.
New England is strengthened by the
statements of insiders that the Company
viii succeed in putting through its
scheme for an entrance into this city.
The weakness of General Electric il
due to the talk about impending TCSig-
nations by two or three leading directors
ard various rumorS about a reorganiza-
ton OF the Company. Nothing definite.
however, is known in regard to the mat
ter.
The Bank of England rate is un-
changed IL per cent.
The upward movement in the stock
market made more rapid progress. as
the day advanced, and severe punish
ment was meted out to the shorts:
LackaWanna' fer instance; which Closed
a. v 49, 60 ~ ''''F
one broker bid li5, then ,li6 and sc, on
up to 149, where "A couple of hundred
were secured: Later there were tran
The stock has been scarce for some
. time. and there is a latent short IN.
terest which cannot be covered except
on the terms dictated by holders.
The Changers. induStrials and West
ern tnion made sharp advances.
The sharp change in the temp%r OF
ton advices that the Senate will repeal
the Sherman law at an early day. Tres
idcnt Cleveland's letter to Coy. North
en-. of Georgia, also had stimulating
1t is STATED, ttet rogotiatioms have
hacn ,roop"ncd for a traffc arrtnTc-
Iieaoo.. D) Ann Arb"r ( North Michir&1,
The statement 'ha tho former has on
troll OF the latter is denied.
Tho steamship ori"aba, from %ltavana,
b., usht 59.o@p Mexican silver dollars TO
Muller. Schall g. CO. and losrNN Mexican
, dollars to .Jamcs T.. Wood in transit TO
London.
Foreign exchange is firm. but business
is limited and the demand is less active
thar Yesterday. Bankers 6o-day bills sold
at ts5 II 49, - and demand a. As! a
49, -. Rates are not up to the shipping
point and the chances ar" that no gold
will 10 shipped this week.
Stocks continued to advance on the
belief that the sherman law viii he ~"
. pcalod at an carly day. Tho bulls hold
control Of tn" market and maintained
tho rise TO the end.
Mr.. j. b. DunOnt. who has been a
member Of the Governing Committee oi
tho stock Exchange for the last sever
years. was forced to suspend mn
by tn" extraordinary break in Evans.
willie & Tore IIautc last july and in con.
. sequence rendered his resignation.
ON Sept. II MIR. Dumont va, rein
stated In membership by IN" r.Nmttcc
on Admissions. and yesteria , meet.
ing Of the Governing Commit, vas re.
elected a membe to fill tie vacancy
caused by his own resignation.
Sir Henry Tyler. President of the
Grand Trunk Railway. said to-day thai
1 Russell Sage exercises no control over
the Grand Trunk Railroad. and tina
americans have no connection whatever
with the road.
h Clearing House Loan Committee
.ycantelled 81 400, 900 in loan certificates to.
!. day. Total amount outstanding s26, 255,,
An additional $500, ONo certificates ba,
also been called for tomorrow, makins
a total Of 1860. 900.
There was AN increased demand rol
commercial paper, and some of tho city
banks were in the market as buyers
Prime names sold at 6 a \ per cent. The
currency movement still favors this cen
tire. and an increase in the bank re
serves Is looked for on SATURDAY..
The sales Of stocks were 1911 800 shares
silver certificates. 5000 ounces. In tn.
unlisted department 81, 400 shares OF
sugar and 1850 Lead Were trade in.