New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-15
READING AND SUGAR BREAK
A LOCAL STOCK EXCHANGE FURRY.
DISAPPOINTMENT OVER TIE READING REPORT
rrn,crroS ~ ro.I. PRICES.

DISAPPOINTMENT OYER TIE hEhDiN" iH'i0"A
REDUCTION IN COAL PRICES.
The general railroad news of yesterday had little
effect upon Wall Street The report OF the receivers
OF the Philadelphia and Reading Railroad ana 'ne
action OF the sales agents OF the anthracite companies
had an unfavOrable influence upon the STOCKS Oh 'ne
coal carving roads The monetary situation opera'eo
10 embarrass many OF the holders OF Industrial sIocRs
There WAS q sensation at the stock Exchange On
account OF the break In American sugar ccruh'a'e''
The price steadily declined from the start uhder
Maudating sales. and the final net loss was nearly
per cent The severe drop was not accompanied
by the usual disturbing street rumors. The pre-
d,ctons of Monday that some OF the preferred s'ocA'
holders intended attack the legality OF the dstri
hu,on OF the extra dividend OF 10 per cent on the
common stock have not been borne out. The broKers
who usually protect the stock were not acuNc !"
the market but the heavy decline In the absence
OF unavorablc news was generally credited TO realizing
sales Most of the industrial shares closed 'o~er'
and General Electric not an exception. Inc
hears renewed their assault upon General Eeculc'
and Notwithstanding the denial OF the extravagam
losses by Hoods reported against the Edison plant at
schenectady the price fell more than per cent
The other sharp losses OF the day at the STOCK
Exchange confined TO New-iork ana New rhe
land and the coal shares. The general market was
weakened in the last hour by the RAPID dechhe III
American Sugar. but the pressure OF hquuauoh ""'
directed only against special properties.
The monetary situation is said by bank omcers 10
he unchanged The high rates for money are de'
morallzing the foreign exchange marhe's' 80 "'
there are now prospects OF goid eApoFI 'he"e'
ruents to embarrass the gold reserve OF the Nao'i
Treasury But the city banks are forced 10 curtain
loans daily In order to maintain safe reserve ana
this action Is beginning affect seriously the heeo
,on Of commercial paper. A Wall street dealer ID
commercial paper said yesterday that Tor several ys
such dlculty in placing it had not been eAperc"'eu'
TIC heavy demand for -ncy IRON 'he o1' oi''o"
corresnondents of the New-York City banks has MOI
apparently been the purpose of securing money 10
facilitate commercial credits. The financial insu'n-
lions OF the country East and West appear 10 De
concerning themselves solely With the purpose Vi
strengthening their resources. Call loans yes
terday ruled strong at TO 10 per cent
The reduction in coal prices decided upon Wy inc
so,ss agopts Of re anthracite coal producing COM
panies is said u be the usual spring 'ducuo"
II 1, hailed la circles otherwise Interested as lhe S'
indication of the complete collapse OF the combination
TO extort extravagant prices for coal. Inc coa'
dealers profess believe that this first open ac'h
In nrces is only natural TO the season and confidence
,s EXPRESSED that TIE receivers OF the Reading hoau
will not attempt to slaughter the coal hmrhet W
forced sales OF coal. But the consumer Is '"pi','
and the shylccks who exact cNua''s'.'
prices from those persons WHO guy
their fuel by TIE pail are trcmohhe
In t3ir BOOTS AT lnc pi'sp''' VI AV''H
for extor,ion. The sales agents OF TIE prouechS
companies yesterday reduced prices Tor crate co"i
10 cents a ton from the March schedule anu o'nei
reductions were so cents ton on ces' w ''"'' '
stove and 80 cents on chestnut Inc reuuo"'n 10
nh. first which has been made since last september
&C tho priccs al that time were about the same as
bv the current schedule. No action VIII DC TAKEN
ON Western coal prices until late In the moh'i.
Following is table giving the prices free on ooaro
at tide-water Of TIE frccburnng anthracite Goals 'o
the dates mentioned: