Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-02-15
IN WALL STREET TODAY.
Spectators Disappointed at the Refusal {
Sell Them Government Bonds

Spectators Disappointed at the Refusal to
Sell Them Government Bonds.
New YORK. Feb. 15.-The disappointment in
Wall street over the failure of the administra-
ton to authorize an issue Of bonds found ex-
precision this morning in bearish attack upon
stocks now recognized as particularly vulner-
able, including sugar and cordage among the
industrials and Reading and Manhattan among
the railroads.
The pressure upon sugar and cordage was
specially marked, but was well understood to
be entirely professional in its nature, and hav-
ing been anticipated was met by inside support
at the low prices. Opening figures all along
the line were fractionally lower than those Of
last night, but sugar bore the brunt of the pres
sure. and after an opening loss of 4 per cent
at 129$ was driven down to 1885.
Cordage a close second on a smaller
volume Of business and opening down at Il at
II retired to 69@s. Reading was sold heavily
for Philadelphia account.
The selling was accompanied by report that
the next statement would show considerable
decrease in earnings. and as in the industrials
some top orders were uncovered, though it's
decline was confined to fraction.
Manhattan opened at loss of 2 per cent at 156.
but rallied Immediately to 1853, recovering the
entire loss. The general market responded
feebly to these declines, holders see
ing no immediate cause for alarm,
and the selilng pressure was con-
fined to the professionals. Losses we're,
therefore, insignificant, though no rally of i'm
portance was seen. Sugar was again heavily
pressed for sale in the late dealings and further
retired to 1861, net loss Of 4 per cent. At IL
O'Clock the market was fairly active and heavy
to weak at the lowest prices.
The pressure upon the market continued
after IL o'clock, but further concessions
were without special Importance, except
in the industrlals and one or two
specalties. The indisposition to buy on
all sides, even though there is no selling
of long stock by investors. leaves the
market in the hands of the professionals and
traders who are working the situation for lower
prices. Support in sugar was apparently with
drawn and it reached 1861 and after a rally of
l per cent retired to near the lowest price,
The decline In distillers made further pro-
gress and it touched 81, against 3s14 last even
ing. Chicago gas sold at SO, after opening at
sos. and cordage retired from II to g.
Reading at 46ss showed loss OF l per cent
and Manhattan, after selling up to 1853.
declined l per cent. Buffalo, Roches-
ter and Pittsburg declined sharply from 50 to
80, but changes in the rest of the market
were insignificant and evident covering of the
shorts toward IL o'clock caused partial rally
over the whole list At noon the market was
active and firm at the Improvement
Sales to noon listed stocks 1873, 500 shares,
unlisted 60. 200.
Posted rates, 4S71 za4S91S.
The clearing house statement for today is as
follows: Exchanges, Sill ,458, 300; balances
81, ALI 12. The subtreasury was debtor at the
clearing house today $741.335 Government
bonds have been dull and steady. Southern
state bonds neglected. Railroad bonds fairly
active and steady Bar silver S3&