The Washington times., 1894-04-12
AN NINTENSELYDULL MARKET
Fluctuations Were Extremely Narrow
Ranging in Fractions Only.
LONDON BUYS But SCANTILY
A Raid Upon Chicago Gas Promptly Checked,
but Is Followed by slump-Poor Reports
on St. Paul and Atchison-Effect of Gold
Exports on Speculation.

New YORK, April 1.-THE speculation to-
day was intensely dull and absolutely devoid
OF interest. Chicago Gas was the only stock
shares, and in only four others, ST. Paul.
Sugar, Missouri Pacific, and American To-
bacco, did the sales exceed 5000 shares.
The fluctuations were extremely narrow,
and In but few instances did the changes on
the day range above fractions. London was
in the market as small buyer of St. Paul
and some of the low-priced arbitrage special
ties, and helped sustain prices in the day
when slight bear raid threatened values.
But considering the dullness and the lack
OF buyers the market was firmly held, and
resisted the occasional pressure put upon it
by the shorts. News affecting the specula-
ton was meager outside of the returns Of rail-
encouraging character.
The st. Paul earnings for the first week in
April showed n heavier decrease than was an
tioilated. but made no impression on the
stock, which moved within a range Of y per
cent, gaining Is on the day.
The Atchison February statement showed
that less business was done than during the
previous month. u large decrease in net earn
in.s, while the shares actually advanced "a
and were held firmly at 10 ali day.
raid was made on Chicago Gas in the
opening dealings based on fresh rUmors OF the
announcement OF an unfavorable decision in
the quo wGrranto case, and after an advance
OF a the shares We're sold X. The stock
offered being readily absorbed checked the
downward movement and brought about an
advance OF !. of which was lost at the
close. Sugar declined q and then began TO
move upward. making Il gain of Is, but
reaching : in the lima! dealings.
The purchasing movement in American To-
hacco. which is believed to be for an inside
pool, was continued and resulted in an appre-
citation IN value Of 81 per cent. the last being
the best price OF the day. Cleveland and
PittsDurS sold at 15i, against $50. the previous
sale. Lead preferred moved IL. Houston
and Texas ami Laclede Gas per cent.
while the preferred receded p, and New Jer-
sey lost per cent.
The rest CT the market moved within mar
row groove. but was generally firm and
closed despite the prevailing duiiness fairly
firm. Delaware and Hudson advanced u
per cent. on the day. the moving influence
being the belief that the attempt of the
minority Of the board Of managers to secure
suihcient proxies to change the control of the
company is u failure.
The policy Of the minority to manipulate
the issues Of the new stock so as to manuiact-
ure dividend at the expense OF the cor:-
pGny streasury is not meeting with encourage
Dent and the very publicity given TO their
scheme by the publication OF circulars solicit
Ing proxies seems certain to encompass its
defeat by creating Il public opinion against
the project as being unwise and unsafe
lnancierirg. espe. tally at time when rail-
road corporations T. general are strengthen
ing themselves and building vi against pos
si5e reverses instead of weakening their re-
serves.
II is estimated tina. small shipment Of gold
will be made TO France on Saturday. bat the
talk OF gold exports does not affect the stock
speculation. inasuuoh as the foreign exchange
market is not favorable to any large transac-
tions of this nature.