The Washington times., 1894-10-23
STOCKS ARE DULL AND WEAK
The General List Moves Within Small
Margins and Declines.
BUT FEW EXCEPTIONS NOTICED
Manhattan Suffers Another Bear Raid on the
Basis That the Decreased Earnings of
Elevated Roads VIII Reduce the Divi-
deRds-A General Slump of l-8 to l-2.

New York, Oct. 22.-The share speculation
notable feature of the market being the con-
tinued weakness of Manhattan. The railway
list was well held until the last hour, with
the one exception noted The Industrials
moved irregularly in the early dealings, Chi
cago Gas being firm, General Electric weak,
Sugar slightly heavy, and Distilling steady.
Pacific Mail was in good demand during the
morning and sold up ~ per cent. on re-
newal of last weeks purchasing movement,
based on the announcement reported to have
been made by C. p Huntington that an agree
ment had practically been reached with the
Panama Railroad Company by which better
rates were to be given to Pacific Mail.
In the late afternoon reaction of 81 per
cent. took place, due to the taking of some of
the profits of the. recent advance. After
midday the trading became quieter even than
during the morning and prices moved within
very narrow limits. AS delivery hour ap-
preached the market became weak on bear
attack which was chiefly directed against
the Granger stocks, but which affected the
rest OF the active list to greater or lesser de-
gree.
The depression continued to the final SELL
ings aud the market closed weak at decline
on the day ranging from y to - in the
usually active shares, the latter in Rock Island
and Burlington and Quincy. rs in Northwest,
and d in st. Paul. Consolidated Gas, ST.
Paul, Minneapolis and Manitoba, and Pullman
each lost per cent. A prominent bear was a
heavy seller of Manhattan on the theory that
liquidation of the stock would be induced by
the decreased earnings of the elevated roads,
in anticipation OF reduced dividends The
stock was hammered down 3E per cent, to
1045s, with final rally Of x per cent. Evans
vile and Terre Haute broke per cent, to 45,
on sale OF 100 shares. Metropolitan Trac-
tion dropped 10 per cent. to II and recovered
to l254
Notification was given Of the passing of the
November dividend in United States Express.
following which 100 shares sold off 81 per
cent. TO 43, and toward the close another
hundred shares sold at Al, making the total
loss from the last preceding sale of 10J5 per
cent. President Platt, in u circular to direc-
tors, states that the railroad strike and busi-
ness depression had cut down the traffic so as
to bring the earnings down 10 a point which
did not permit of the earning of the dividend.
Some few shares recorded advances from
Saturday closing figures, including La Clede
Gas preferred, per cent; Lead preferred and
National Linseed, q: Michigan Central and
Minneapolis and ST. Louis, q, and Distilling,
4 per cent.
The bond market was strong throughout
the day and moderately active, most of the
issues traded in recording advances, The
principal changes on the day are:
Advances-St. Louis and San Francisco
consol As, per cent; Kgnawha and Michl-
gan lists, II; Virginia Midland generals and
Wabash DDS, II, and Chesapeake and Ohio
R. and A., I'd eonsols, and Burlington, Iowa
division, As, l.
Declnes-Union Pacific, Denver and Gull
lists, 3 per cent; Brooklyn Elevated lists, D.,
and Western Pacific lists and Wisconsin Cen
trail lists, l.