The Washington times., 1894-12-20
SELLERS PLENTIFUL
And PRICES TUMBLIHG
Volume Of Business Heavier Than on
the Preceding Day.
BUT SPECULATION MAS DULL
DistiIIinq Mas Hammered kithou t an
Impression Being Made.
Evident That the Whisky Trust Was Brac-
ing Up the shares-sugar Was the Live
lest Stock in the Whole List-Reports
Were Circulated That Strong Efforts for
Ad Yalorem Duties Would Be Made.

New YORK, Dec. i9.-Although the volume
OF business on the stock exchange to-day was
somewhat heavier than on yesterday. the
speculation was nevertheless dull. The tone
of The market was heavy during the greater
part of tine day. Occasional rallies took place,
owing 10 the coverings OF short contracts at
the lower figures, but the selling was lar IN
excess OF the buying, and, except in few in
stances, the closing prices show losses on the
day ranging from Is TO rs Per cent. the
heaviest loss being in sugar.
Il was thought that the publication Of the
statement Of the Distilling and Cattle Feed
ing Company directors would precipitste
lot Of the truck stock upon the market, but
there Was no great pressure to sell the shares.
At the opening the bears hammered the stock
down l per cent. TO s1s, but it was well sup
ported by insiders, and the strong buying
frightened the shorts into covert ng with the
result that q per cent of the loss was quickly
recovered. Before noon another slight DEM
onstration was made against the shares,
which depressed them but Ss per cent, at
noon the sales up to that hour having been
$500 shares. Only 700 shares additional
were sold during the afternoon, the iuctua-
tions being within q, and the last
sale was g above the lowest of
closing. The trading in the stock made it
very evident that the managers of the trust
had decided to stand under the stock and
break the force of their disclosures of the un-
favorable state of the companys finances.
Sugar was the most active of The entire lis
and was sold freely. it is believed, for the ac-
count of the clique which controls the Eoye-
ment of the stock reports being put in circu-
lation that strong efforts would be made at
Washington to put an ad valorem tarih on
sugar The shares declined gradually through
out the day, and closed at the lowest point
touched and Is below last night hguresi the
preferred lost = per cent.
The Grangers show depreciation in value
on the days transactions OF 5sas4 Per cent.
St. Paul was the only one Of the group IN
which the trading was at all heavy, selling in
the stock be ng based on rumors that the
statement of net earnings for November will
be uufayOrable. The shares OF the Read NJ
road Y ere depressed by liquidation on the
part of holders who are dissatisfied with the
plan of reorganization and there was selling,
Too on rumors that the Ilan will be with
drawn. A decline of 1}s took place, Of which
y recovered in the final sales.
Chicago Gas was il good buying in the first
hour. and this together with the scarcity of
the stock in the lOaa market. caused ad-
vance Of Is per cent. from the opening, which
was at a decline of - Liquidating sales
brought aaout = reaction Of ! per cent. oil
which Il was recovered. making net gain OF
15fper cent RUmors tEat an understanding
had been reached between the ConSolIdated
and East River Gas Companies caused an ad-
vance OF ~ per cent. in Consolidated Gas.
Northwest preferred rose l per ceat-. and IS
the only other stock~which gained over q
on the day. A decline. was recorded in Amer
leah Tobacco OF 81 per cent. with a su Sc
qpeut reeoye of per cent. Green Bay is
down ~: New Jersey Central l5s. and Lead
and Laeede Gas /. The market closed weak.