New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-12
WALL STREET DULL.
SPECULATIVE INTEREST IN A FEW
SPOTS.

WEAKNESS SHOWN IN ATCIIIsoN AND NORTHERN
PACIFIc-RELATIoN OF EARNINGs TO RE
ORGANIZATION PIANs-FoRE.GH EXCHANGE
STRONG BUT EXCITING 30 UNEAs1NEss.
The stock market was dull yesterday. but there
was a more general distribution OF business and
some centres OF interest attracted speculation m
usual activity was developed In Northern racine
preferred a decline in price from 1874 10 los"
AZ. The bonds were materially lower Inc Dear
traders are cautious In selling Northern racine
stock because of its low price and much curiosity
was excited By the decline Gossip ran that tne
basis Of earnings beginning to interfere win
more sanguine ideas Of Reorganization entertainer
some time ago. especially since many security
holders have been disappointed at the large sums
that Mr. Rouse. the receiver, and the general man
arer Of the company say will be necessary To be
used for the restoration OF the property TO good
condition Railroad men are not suTpriseu III 'ne
necessity for large expenditures In view Oh '''e -"
percentage Of gross earnings under which the road
was operated by the Willard management before
the appointment Of the receivers. Inc rePN III
court of the receivers Of the company TO the
charges made by the directors VINO seek a renewal
Of Mr.. cakes as receiver also indicates iha' 'he
new management may meet distractions III l'S
efforts 70 secure an effective control Of the property
The weakness in Atchison, Tor 'ka ana santa r.
! bonds, and the decline Of per cent In the STOCK
was explained by London selling. This may nave
been started by the heavy decrease In gross earn
ings reported for the last week in Deceihper' /.
was the heaviest decline shown In long time ana
fears were excited that there might be Impending
a change from the comparatively fair returns made
before the Atchison was compelled to confess us
insolvency Bankers regret the unfortunate charac
the difficulty in the Of all bankrupt raIToaus OK
arranging a basis OF reorganization upon "hlC" an
intelligent scheme may be founded. c,,.,.
The more active railway STOCKS, hNe Iil','Y
Milwaukee and 81. Paul, were not inaleIl"fE 49, .
81 PAM was sold for foreign account. whie me
shorts" were disposed to cover, but s"i'Wl
observers said that the selling OF cuIhcy ION
IA. to 49, ,u73t, was largely for bear account
weakest Granger stock was chicago i.p'h S'ni i
and Pacific which fell from 652 to bi's. LOUIS
Vile ana Nashville was only moderately dealt IN
and It was firm IN the morning. In tne al'eiH'"'
urobally in anticipation Of the formal pas "l
the dividend. it fcll from 49, TO lltn,E't ne
Industrial stocks were a Irregular AS usual tNier
closed At ST.. anu General Eleciric went ron
/ 9;l. 10 Sia.H3-i.. Western Union Telegraph ieH
! from Si5s 10 So. but rccoveri To -. -
/ The continued strength OF the foreign eNchhhS's
IS not exciting alarm as 10 possible ,NloI ol
! cold Rates must advance considerably h' fore
! that movement can be begun. and fuTtn'r az
| vance IL Is thought VIII simulat" oiirrlnfT ~
! bankers bills. The supply OF connH't.iIl pl'',
has fallen of lately. and ih'r" - q H''r'
/ Cnr rcnittauccs on account Of European sd!'. OF
! American securities. There has been revival, "i
talk about :he possibility OF Austria rrsumlHS mr.
| demands for gold TO effect ~" hntncl" i'1I-" ?
zation IF the dual empire. The "nl} nil''' on ."
his uoeeblftv is the slight incr'as" IN IN" ,''nfh
or g,ll IN fh. London market. Nothing j. posi-
lively known OF the intentions of Austria anu u t
no, expected that the foreign exchange miiK''S VIII
| show danger signals unless unwisc legislation on
! the National finances is attempted IN congress.