Waterbury evening Democrat., 1893-02-22
READING CYCLONE OVER
Wall Street Strewn With
 Wrecks of inanciers.
THE GREAT COMBINE NOT BROKEN

The Lehish Holds to Its Agreement
 Reading still Has Enough New England
 Stock to. Keep Parsons President-The
 Day in the New York Exchange-Denlings
 Small as Compared With Yesterday.
 NEW YORK, Feb. 22.-Lame ducks were plentiful in the neighborhood of the Stock Exchange yesterday, and Wall street was strewn with the wrecks of em- bryo financiers who had been caught and worstcd in the Reading cyclone. But the clouds had rolled by. and, while the waves of excitement continued above highwater mark, business on Change was carried forward ill a more rational man her than it had been during the two previ ous days.
 The tension, which had been marked feature, WaS relaxed, and, with the strain removed, there came steadier feeling, and, except for few minutes early in the day, there was an absence of downward surSes, which formed the fea- ture of Mondays dealing.
 Although there WAS, naturally enough, a nervous feeling ill the minds of the brokers and operators, it was evident that the trouble, 50 for as Reading Was con cerncd, had abated. Statements made by Receiver McLeod and Director Antello that the Reading company had coal enough on hand to meet all obligations had d tranquil effect and Reading opened ar 80, advanced point, and then under pressure Of stop orders fell back to 2S I-S slowly recovering to 50 34.
 The throng of leaders was not as great as that of Monday, nor were opera tions nearly so heavy.
 Reading opened at slight advance over closing, VIZ: per cent. to 3l.
 The hanmering, which began as soon as vuicrs could be lifted and hands up raised, quickly nulltied the improve ment, and ill less than three minutes the Inlucky stock went down to 2S 7-S.
 In d few minutes the Reading crowd melted away to about thirty operators, who maintained the war with vigor.
 The transactions ill the first fifteen minutes reached S6, zoo shares less than half the number sold in the same time Monday, which Was 196, 100.
 This is a fair indication of the excite ment as compared with that of Monday.
 Considerable activity was shown around the New England board. That stock followed Readings dropping ten dency and fell away from 40 1-2 to 3S 1-3. Transactions in the stock, however, were not heavy
 Orders to buy or sell 100 shares can now be executed without trouble. EX-Senator Platt who has just returned from Phila- delphia, said that he made the applica- tion for receivership to protect the in terests both of the Reading and the United States Express.
 He is an intimate friend of MT. Mcleod, and says the receivership is friendly one, and that the results will be emi- nant1v S0tiS t,,rN n hpth Ina Stncl- nI1 T bond holders of the company. Among those who are informed on the subject it is generally believed that the outcome of the present receiVership will be another reorganization of the com pany's finances upon basis that would relieve the corporation of the preference i mort gages, which, in their present shape are regarded as an incubus of too heavy , a character for the company to carry at present.
 This is the policy, it is understood that DreXel & Co. will insist on adopt ing, as it is now well assured that that firm has again come to the relief of the bankrupt company, and that the eX Chief Justice stands in the receivership as the representative of the banking con = ceru.
 It is also understood that the Reading | lease of the Lehigh Valley will not be dis | turbed, and that the directors for the latter corporation have made official | recognition of the receivership. There was a rumor that President Par sons of the New York and New England | was about to withdraw from that corpor- l ation, owing to New England stock having been lost by tine Reading. New York and New England was vita necessity for the Reading in it's fight | against the New York, New Haven ant | Hartford. The rumor was soon proved false, as it was found that the Reading party held between 10000 and 125, 0Ot | shares.