The Washington times., 1894-10-28
STILL HAMMERING COALERS
Speculation Entirely Centered in This
Glass of Shares.
BEARS PRESSING IT VERY HARD
Depression in This Line Quickly Commune
Gated to Other Stocks, Causing Decline in
Prices from Fairly Steady Opening
Bank Statement Unfavorable.

NEW YORK, Oct 27.-Interest in speculation
almost entirely in the coal shares, which were
subjected to heavy pressure in continuation
of the bear campaign against this group
The selling in New Jersey Central was heav-
lest, but Delaware and Lackawanna made the
greatest decline, while Reading was compar-
atively well held. Board room talk was very
bearish indeed on New Jersey Central, the
decrease in earnings compared with last year
being pointed out as a reason for bringing the
stock down to lower level.
There was little or no support OF the coal
ers except Reading, which. it is claimed,
| would even gain somewhat by general coal
war. The decline In the shares began right
| at the opening and continued. Near the close
| Delaware and Lackawanna had lost 616; Del
aware and Hudson, % and New Jersey Gen.
| tral, 4%. Reading advanced "a lost the I'M
! proyement, and rallied Is. Recoyeries we're
made in the final dealings of IA in Lacka-
! wanna, in Delaware aud Hudson, and "a in
| New Jersey Central. limiting the losses on the
| day to 5. IA, and as per cent, respectively.
The general market opened dull and fairly
steady but the depression in the coalers was
! quickly communicated TO the rest of the list
| and prices sagged of. Northwest was raided
| by the shorts and gave way 155 per cent,
| closing within Is of the lowest. The break in
Northwest was accompanied by rumors that
a scaling OF the dividend rate would have to
be made owing to decreased earnings, which
| were. however, semi-off1cially denied. The
movement in the other grangers was trifing
loss OF g being made IN each from yester-
| days closing Louisville and Nashville was
sold by London and the room traders, and
declined l d without rally. C. G. G. and st.
Louis, st. Paul, Minneapolis, and Manitoba,
and Pittsburg, c. C. and St. Louis show losses
of per cent. each; Hooking Coal "a, and
the general list 7sas, except some half dozen
stocks which made gains OF 1sa15 per cent
The bank statement was regarded as unfa-
Vorable, as rejecting congested money mar
ket andla contraction of business, and the
share speculation was somewhat weakened
thereby, and closed heavy.
The past week has been one OF the dullest
in the history OF the Stock Exchange, the
total transactions for the six days being only
623, ,080 shares, which amount OF business Is
but equal to an average days work under
normal conditions. In the first half OF the
week speculation was stagnant, but for the
past two days bear demonstration against
the coal stocks has impaired interest TO the
| trading, with very few exceptions the stocks
dealt in showing losses on the week, the coal
ers leading the decline as follows:
New Jersey Central, 1055; Delaware and
Lackawanna, 81; Delaware and Hudson, 75s ;
United States Express, 10l4; Metropolitan
Traction, 81: Evansville and Terre Haute, 4;
Consolidated Gas. 3JS; Wheeling and Lake
Erie preferred, 81; Northwest and Iowa Cen
trail preferred, 8; Cotton Oil. 25s; Louisville
and New Albany preferred, ~; Tennessee
Coal, 2; Manhattan, st. Paul, II. and NJ, and
Erie Telegraph, 2.
Advances-Laclede Gas preferred and To-
bacco preferred, per cent.