The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-12-20
WANTING TO SELL
WITH FEW EXCEPTIONS SHARES
CLOSE WITH LOSSES
Sellers utrunber Buyers Generally
and sngar Stock Suffers Particu-
larly-Exre cted Panic in Distilling
Stock Fails TO Pan Out-Graug gers
share Losses-Reading Depressed.

New York, Dec. 1?-Although the
volume Of business in the stock ex-
change was somewhat heavier than
yesterday, the share speculation was
nevertheless dull The tone Of the mar
ket was heavy during the greater part
of the day. Occasional rallies took
place owing TO the covering Of short
contracts at the lower figures. but the
selling was far in excess OF the buying
and except in a few instances the clos
ing prices show losses on the day rang
ing from 3 TO * per cent. the heaviest
loss being in Sugar. 1t was thought
that the publication OF the statement OF
the Distilling and Cattle Feeding COM
pany directors would precipitate lot
OF the trust stock upon the market,
but there was no great pressure to sell
At the closing the bears hammered tie
stock down l per cent, 10 SIS per cent,
but il was we'll supported by insiders
and the strong buying frightened the
shorts into covering with the result
that q per cent of the loss was quickly
recovered. Before noon another slight
demonstration was made against the
shares which depressed them but =
per cent. At noon the sales up 10 that
hour Were $500 shares. Only 200 shares
additional were sold during the after
noon, the fluctuations being within L
pc cent and the last sale was = per cent
above the lowest of the day and y per
cent below yesterdays closing. The
trading in the stock made il very evil
dent that the managers OF the trust
had decided to stand under the stock
and break the force OF their disclosures
of the unfavorable state OF the COM
pany's finances Sugar was the most
active of the entire list and was
sold freely, il is believed for
the account of the clique which
controls the movement of the stock,
reports being put in circulation that
strong efforts would he made at Wash
irgton to put an al valorem tariff or
sugar. The shares declined gradually
throughout the day and closed at the
lowest point touched and rs per cent
below last nights figures. The pre-
ferred lost = per cent. The Changers
show a depreciation in value on the
days transactions of SsMr4 per cent
st. Paul was the only one of the group
in which the trading was at all heavy.
The selling in that stock was based on
Iumors that the statement of net earn
ings for November will be unfavora-
bic. The shares of the Reading road
were depressed by liquidation on the
part of holders who are dissatisfied
with the plan of reorganization. y
decline of IS per cent took place. o.
which II per cent was recovered in the
final sales. Chicago Gas was in good
buying during the first hour and this.
together with the scarcity Of the stock
in the loan market. caused an advance
of 11a per cent at the opening, which
was decline OF IL per cent. Liquidat-
ing sales brought about reaction OF
per cent, of which Il per cent was re-
covered. making a net gain of Il per
cent. Northwest preferred rose j per
cent and is the only other stock which
gained over Y per cent on the day. a
decline was recorded in American To-
bacco Of 3Iz per cent. with a subse-
Quent recovery of per cent. New
Jersey Central is down is per cent.
Lead and Laclede Gas l per cent each.
The market closed weak.
The bond market betrayed weakness
during the entire day. The volume Of
business was large and aggregated
81, 63l 500. of which $4,000 was of st.
Louis and San Francisco consol tours.
$50. 900 of Chicago and Northern Pa
cifc first trust receipts. $4,000 Of
Southern fives, S114. 900 of Reading sec
ond incomes, s1O2. 900 of Reading defer
red incomes. and SOL, 900 of Kansas and
Texas seconds.