The evening world., 1893-10-26
ANOTHER JUMP IN CORDAGE.
The Stock Rose IA Points on
Reorganization Rumors
Morris and Essex and American Coal
Also Bounded Up.

Those who a short time ago were be
Hitting the probable effect OF the I'M
conditional repeal of the Sherman Silver
law on the markets for securities have
found themselves ~grievously mistaken.
They have been beaten. horse. foot and
dra eoo and are still wallowing In a
sea of uncertainty, while the puIls are
reaping a golden harvest.
The dealings during the first hour OF
business this morning were character
lied by greater activity and buoyancy
than for a very long time. They were
also better distributed. showing that In
terest In the current speculation Is
spreading.
has been too rapid went short, but
their offerings were readily absorbed.
and after each sortie by the pears
prices went higher than before. u
long sterling was reduced from ASl IL
to l.S. Later the rate was put PACK
to 49, IL, while demand bills were raised
that a small shipment OF gold from
London to New York is expected to-day:
The Bank of England rate or aisco The
remained ]unchansed at ,bo 4" bpo fTk ' SHOWS an
Increase in bullion OF tSil35. us ProPorr
tion of reserve TO liabilities Is l6.S5, per
cent. against $3.50 ner cent. last week.
The activity in the stock market was
unabated after y o'clock, but there was
a disposition to turn paper prohts into
cash, and after some further advances a
general reaction ensuei.
When the bears saw that their op-
ponents were realizing they jumped on
the leading shares, ana accoruihsiS d
fresh short Interest was ~create1; n m 6Tno
don was credited with sales OF lo''Vo
Money was easy at l IL IA . per cent.
on call, and at 4 IA t on time,
The S~ub-Treasury had IA debit balance
Mt the Cle aring-House to-day of $6iO,NO,
which was liquidated in gold. ,
The Clearinghouse Committee retired
$4,000 loan certificates reducing me
sum OF $780, 900 has been called for can
collation. tomorrow.
All claims against s. C. Doyan. whose
suspension was announced on the Con-
solicited Exchange yesterday, were set
tied in full this morning.
The western and eastern coal sales
agents decided at their meeting to-day
to make no change in coal prices for
November delivery. The output for the
month will be the same as the CORE
spending month last year, which was
S.50O,000 tons.
Stocks reacted IL to 2l-2 per cent, in
the late dealings. There were continued
realizations, and many of the smaller
traders were frightened out of their
holdings.
The reaction was quite natural, in
view OF the recent sharp rise. No news
Of an unfavorable character developed
that would account for the setback.
Near the close New England rose sud
denly from So IL to s. IL m reports of a
deal with the Lehigh Valley. and the
rest of the list rallied L. to liz per
cent.
Among the specialties, National Cord
age preierred Jumped IA points to ti on
the ak of progress on the ~reorEaniza-
ton scheme. Morris & Essex rose & H.,
to las, American Coal 10, to o., Ameri.
can District Telegraph 4 to a. Rub.
r Der common 31-t to 81 "a, and pre-
tered s, 10 IS.
The gross earnings OF the Louisville
e. Nashville for the third week OF OCto
Der were 1891. 765, a decrease of 81 $50.
The sales of stocks were ibS,W0 shares
In the unlisted department 3i.lOO share
OF Sugar and $500 Lead were traded in.