The evening world. [volume] (New York, N.Y.) 1887-1931, 1893-12-01
THE WORLD: FRIDAY EVENING, DECEMBER |, 1893
BIG ORDERS FROM LONDON.
They Help the Bulls to Keep q
Grip on the Market,
Erie Defaults Its Second Mortgage
BoDds Interest.

BoDdS Interest.
Euls on the Stock Exchange this B
morning were much encouraged 10y the
fact that following the completion It tine
iortuighty settlement ON tn" London
/ f.Xchaugc IN" Foreigners sent liberal or.
d"rs for American securities. The Lon |
don market was quoted strong this .
morning with quotations considerably
ahuv" the parity Of our closing ON
Wednesday.
TIA" bulls seem II have a tight grip on
certain stocks. They are able - secure
all the money they want ON favorable
terms. AMI for thus reason are willing to-
~ ahead despite un;aNorabc develop
mnu's here and there.
. The outside Investment inquiry for
rilt-cdc" securities affords material aid
to the hun movement Chicago Gas
AMI Western Union were specially
strong
Those who are putting M the former
Sttl assert confidently that the divt-
dnuls tn he declared next week viii
he in cash instead of scrip.
The fact that the rusmastcr-Gcncral In
his annual report ma lc no rcfcr"nr" to
a postal system, started M "A demand
for Western Union. which rose IS. tn
n rs; Chicago gas advanced 81, to o.
pistilcrs' | -. to - Ia; Denver n Rio
Granie preferred -, to 3i3N; st Paul
49, to Gi IS, burlington j-N, to ST -,
Rock Island la, To = is, Atchison y,
to- 20 IS; General Electric Is, to Il IS,
/ and Union Pacific -. To u Us. Sugar
was heavy, and declined > as To 81 IS,
brokers said that tn" selling orders
hal been traced To insiders. and tina, tn"
latter were evidently bent upon further
depressing the price.
Tn" Reading receivers deposited on
Tuesday with tn" SpcN"r syndirat" tn"
tends the loan t" Jan. =. At that time
II deposit Of $25ooN more collateral will
extend tn" loan for thro" NOR" months;
The Erie railroad Company to-day de
faultcd un the interest du" ON its second
consolidated mortgage bonds. This has
been expected for som" time.
/ Speculation mt the stock Exchange
uuiotrl down as the day advanced. m"
professionals wcr" moving at cross pur-
poses. Sugar and Burlington wer" heavy;
while Western Union. Chicago Gas and
Union Pacific met with effective support
T The last mentioned was influenced by
the strong names composing tn" .."or-
gani"ation Committee recently hr.
81 pointed.
Moderate purchases were made for for
: eigr account. Sugar was a drag upon
i the whole market and led al other
: stocks in point of activity. National
lead was weak and dropped a points
, on light transactions.
/ Mo- cy ruled easy, at l and - per
, cent. on call and large amounts Were"
offered that could not h" employed.
{ Foreign exchange was firm No change
wa made in tn" posted rates ate, n which
quotations were higher.
The supply of bills was small while
Their" was a good inquiry, from remit
ters who are settling up their accounts
in consequence of the cNtrem" cas-" III
money here. bankers long sterling sold
at AZ - a i.S3 81 and demand at iSd II
! Lad"nburg, Tnnman & GO. will ship
, H6a.CDJ gold to Hayt on the steamship
Prince William Ill. sailing tomorrow,
Tn" loan reported to have been made
N July Ivy the Louisville 4 Nashville"
road against 22.oto shares of stock with
an option ON the same at 6' du" Fob. l..
has been paid 10y the Company. The
stock has been turned into the treasury
and no part of the 1850 shares of Treas
ury holdings has been disposed of,
pledged or undcrwrittrn.
After spell Of dulness the stock mar
ket developed great strength near tn"
close, and some. shares sold at thr
features were Union Pacific, Atchison.
Western Union and Distillcrs There
, was considerable buying in anticipation
of a further large increase in the bank
The sales Of stock were 2GS.loo shares.
In III" unlisted d"Partmyn, 7,.WI shares
1t is officially stated that IA" reported
hig deal 10y which Richmond ~ panvllle
secures control # charlotte, columbia
Il Augusta ha; no practical signifrancy
what"ver. ana IL formal transfer Of
property as Il legal technically which
has no practical value in altering present
. cnm,li'ions These roads nave been con
,r5il"i by Richmond 4 Danville for
years;
prcNcl, Morgan s. Go. have purchascd
for cash for foreign account $i7op,0oo
~ Z
abroad next week. These bonds w""" re-
served at III" time Of purchas" for ~"
r, tir" the bonds Of the latter company
maturing in 1874, Tn" bonds were held
hy the Initnd states Trust Company.
RI" -. Louis, Alton 4 T"rrG H hnin'
hcr 1890, for $lo""o,ooo Of per cent. 100
year gold bonds. OF the $o""1,ooo re
, cnivrd >25o.nn arc in sinking fund for a
loan and s6,7oo.oOO were reserved for
bonds maturing in 1921.
with tn" balanc" Of the bonds and in
other ways there have been retired about
81 .&nO 0D3 preferred stock and n number
Of bonds in the CUmpanN's treasury.
Receiver r. Elery Anderson, Of the
! Union rArin'. said this morning II
costing IL" aouuintm"nt 81 Frederic 4;
Coudort as a Government director to fill
the vacancy caused by Don n. l n"kim,
for 50 doing are simply that both Mr.
. Dome and | ar" Government directors
+ and receivers, and this appointment would
. make u NOR" in accord.
"Nr have been informed by Messrs
Russell So" and George j. Gould, trus-
, t,os Of tn" kanSH" Pacific consolidated
mortgage, that th"y are willing I" use
, funds in their possession g. nay Nov"m-
Der interest on tn" Kansas Pacific bonds
~. "Whil' "" hay" mad" Application to
+, IN" Court in omaha for permission to
b pav interest due Nov. /, We io not "x-
Get 10 have a reply for two or thr"n
. DAVIS OF course, the court win grant