The Washington times., 1894-10-05
BULL POOLS RULE THE DAY
Favorable September Reports Aid
Their Recent ManipulatiOnS.
WAR SCARE HAS NO EFFECT
Chicago Gas Taken in Hand By an Outside
Clique, Which Squeezed the Shorts
with Three Point Advancs-sugar and
Other Industrials Strong.

New YORK, Oct. 4.-The share speculation
to-day was characterized by marked strength
and a fair degree of activity. The improve
ment in the market was due in some measure
to the fact that the Anglo-French war scare
was proven to be baseless, and the more IA
vorabIe railroad reports for September, but
the main factor was demonstration Of bull
pools against the short interest.
Chicago Gas was the feature ofthe specula-
ton, and was taken in hand early by an out
side clique, which proceeded to squeeze the
shorts in the stock, the loaning rates having
been put up TO 1872 premium. Accompany
ing this movement was a report that an agree
ment had been entered into by the Chicago
Gas and Municipal Gas Companies for a d.
vision of territory. Under the covering which
followed, assisted by purchases for the long
account induced by the scarcity of the stock,
the price moved up sharply TO 723S, gain of
23S on the closing price OF yesterday. AT the
higher figures the bears made drive OH the
stock, which caused reaction OF per cent,
TO 7IaZ before noon. After midday the buy
ing was resumed, and became very heavy late
ia the afternoon sen1ing the stock up 10 1875,
the last being the highest price Oftne day, and
81 per cent above last nights closing
Sugar was forced to take second place in
the dealings An early advance Of q was
followed by a decline OF 5s per cent, the
trading at this time being very light. IL was
not until later in the morning tnat the shares
came into good buying demand, but the
strength of the market generally led 10
covering movement In Sugar, which resulted
in advancing the shares % per cent, TO
s5JS, with only final reaction OF 4.
Advances were established IN the other In
dustrials OF III in Tobacco, 15s in Lead, IL
in Starch second preferred. General Electric
u. and Distilling %. The latter stock sold
up ~ during the morning on sales induced
bv President Greenhut's statement that the
rebate svstem had been abolished and that
all rebate vouchers outstanding Will be paid
on maturity. During the afternoon the stock
received but lttls support, and sagged on rs
per cent,
In the railway list the grangers were most
active and the most notable event OF the trad
ing therein was a bear attack on Rock Island,
causing a break OF 4 from the opening price
which was x above yesterdays closing. The
stock was found 10 be without support al the
time and some stop orders We're uncovered
Burlington and Quincy, which opened =
higher receded = in sympathy and St Paul.
which made an early advance OF ., also fell
of 1z As there was no UntavOrable news In
these stocks the recovery was rapid. St. Paul
regained all but = OF the loss and Rock
Island all but y. while Burlington recovered
all the decline and made an advance Of Is ad-
dItional There was a strong UUying move
ment during the last hour and the market
closed strong and at or near the best figures
of the day.
The advances above a fraction are: New
Jersey Central and Ohio Southern, l per
| cent; New England. II, and st. Paul, Min
neapolis and Manitoba g. per cent. Alton
and Terre Haute declined l per cent, and a
few other shares a small fraction