Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-23
IN WALL STREET TO-DAY.
Reading Maintained Its Position ~ the
Most Active Stock.

Most Active stock.
New YoRx, Feb. 2s.-The stock market
showed the legitimate effects Of the recent dis
turbance this morning in a growing indispo
sition to trade until affairs have
become more settled and the con.
condition is more fully understood
Only four stocks were traded in to any ex-
tent, but, as rule, a firm temper was
displayed. Considerable liquidation was done,
but the traders, who are now believed
to hold larger proportion Of the float
ing stock than at any time for some
weeks past. are working for a rally, and sup
Piled an element OF strength in the market
which successfully resisted the pressure to sell
after the first onslaught. The switchmen's
strike was a depressing influence and its effect
was seen principally in the grangers.
opening prices were in almost all cases lower
than those of Tuesday afternoon. while st. Paul
was down l at us. Northern Pacific preferred
u at 43& and Reading IA at %. Lond On
houses bought fair amount Of Reading, which
yielded only after the opening. and soon raj
lied to 20, and was maintained at about that
price for the rest of the hour.
The pressure was most severe against sugar,
which. after opening unchanged at 1913, steadily
declined to 1907. Aside from these stocks
only St. Paul and Burlington were at all largely
traded IN. and the latter. after fractional loss
at the opening, declined Is. Western Union
was strong spot, but its advance was only
fractional
The general list was heavy in sympathy with
the leaders, but aside from Tennessee coal,
which retired from "a to S21s, the movements
were fractional. At IL O'Clock the market was
only fairly active and heavy.
There was an increased pressure to sell sugar
after IL O'Clock and another lack of support,
which resulted in further material decline in
prices. 1t retired to 11S after OPEN
ing at 1873 The rest Of the
market felt the effect of this move
ment. though railroad shares. including even
England was the only marked exception to this
rule. the disbelief in the New Haven control
tending to induce sales By the traders.
The industrials, however, we're more affected
and cordage showed a loss from the opening of
rs per cent, and lead at 4014 was down to ~.
New England retired to 3s1A rs per cent lower
than its best figure. Lead preferred lost 2 per
cent. but other changes were insignificant.
Reading still maintained its Leadership in
activity among the railroad stocks, but after
retiring to 2s14 it showed disposition to rally.
The market at noon was active and heavy, at
close to the lowest prices.
Sales of listed stock to noon zig. 500 shares.
unlisted, 81, 800.
Money on call. 3a4 per cent. Prime mercan-
tile paper, 5a6]4. Sterling exchange is quiet
and irmer for demand. with actual bus mess in
bankers bills at 4S6a4S614 for sixty days, 4SS
for demand, posted rates, 487a48915
The clearing house statement for the day is
as follows: Exchanges, S1S3, $40, 1855; balances,
5.77l,396 The subtreasury was debtor at the
clearing honse today S7l2,O18. Government
bonds have been dull and steady. Southern
state bonds have been neglected. Railroad
bonds have been fairly active and generally
steady. Bar silver, S35s.
There are still no commercial bills on the
market and a complete ABSORPTION of offerings.
combined with higher discount rates in Lon
don, have served to strengthen the demand
rate for sterling. Any increase in the demand
will be likely to cause an outgo Of gold. but
there are no indications of a shipment at pres
ent and some OF the best informed bankers say
that they do not think any will be made.
FINANCIAL AND COMMERCIAL.