The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-09-26

NEW YORK. Sept. 25-The speculative
judgment on the Reading reorganization,
was evidenced by the course Of the stock
aud bonds in today's mar ket is decidedly
unfavorable. The plan has been fruit
full subject of discussion on the street to-
day and while opinions differ as 10 its mer-
its. there is a pretty general opinion that
it will become operative in view OF the
fact that IL is favored by tie receivers, and
il Is claimed By the Olcott-Esrle interests
that il will not be opposed by the Drexel-
Morgan party. This latter claim is not
generally accepted as being based OIL posi-
tive grounds.
AT the opening OF business on the Stock
Exchange this morning the stock of Read
lug was offered for sale in round amounts,
houses with Philadelphia connections
being the heaviest sellers. and the Result
was break of ] "a per cent TO 1S5s per cent
in the first quarter of an hour. The de-
cline attracted buyers whose purchases
caused rally TO l9lt per cent in the next
fifteen minutes. after which very little
trading was done in the shares and the
price was held unchanged up to midday.
Early in the afternoon a further rally to
1885 per cent was made, followed by re-
newed selling aud a return to the low
point of the morning. Only one sale of
the stock was effected during the last
hour, which was at a recovery of Is per
cent, leaving the net loss on the day a
per cent.
An attack was made on Burlington at
the opening by bear clique which. it is
said, had determined To open the stock
below IS per cent. OF the other grangers.
St Paul was sold moderately by London,
but buying by the shorts more than coun-
terbalanced the sales. the shares tiuctuat-
ing within the narrow range of e per cent,
aud making a gain of u per c-uL OF. yester-
days closing figures. Rock Island ros- -
per ceut on the closing of short contract.
lost the improvement under bear raid,
but in the latter dealings regaiped the
loss, the last sale being at the best. \
drive was made on Distilling in vague
western rumors that some new unfavOr-
able disclosures were impending, which
sent the stock down Is per cent. Cou-
firmation of the reports being lacking the
shares rallied 81 per cent in the AFTERNOON
with final reaction of Is per cent. De-
spite the fact that for once rumor had
nothing against Chicago Gas, the. traders
sold IL down on the plea that insiders had
heavy selling orders giving out In the
stock aud after opening ut an advance OF
Is per cent, the price was lowered l3k per
ceut to 691s per cent. During the "A ter
noon the buying and selling were pretty
evenly balanced, the last sale being =
per cent above the lowest aud q per
cent below the closing of yes erday
Sugar opened per cent lower but
quickly came into good demand for no
known reason and rose l3S per cent, but
gradually lost all but - per cent. The
preferred declined l per cent Little. if
any effect was made on the stock by the
announcement Of the proposed shutting
down for a term of the trust refineries.
Iu the active shares Alton and Terre
Haute advanced per cent and Rome
Wa;ertown aud Ogdensburg 4 per cent.
while Tobacco preferred declined IL per
cent, aud Oregon Navigation. Lake Erie
AID Western preferred aud Cotton Oil
advanced / per ceut. National Starch
first preferred and Toledo aud Ann Arbor
are up per cent The rest OF the shares
traded in changed but fractionally and
I.er- dealt III but lightly. The tone Of
speculation at the close was rather heavy
The bond market was comparatively
quiet. the sales aggregaiihg only SS45 500
but the trading was strong. except for
Reading issues, which were unfayorably
affected by the publication of the proposed
plan of reorganization. The declines on
be day in these securities are: General Is
q per cent; do first preferred, ] * per cen,
aud DO seconds y per cent. Losses were
recorded in Richmond and DanvIlie equip
ment 5s of per cent; Pennsylvania a.,
/ = per cent; union Pacific gold o., Nortn-
cru Terminal firsts aud 81. Paul Consols,
per cent Most o: the active issues trad
ed in recorded advances. including: To-
ledo and Aun ArbOr frsts, ~ per cent: do
Grand Trunk tirsts. l per GEM, Denver and
Rio Grande equipment IS. 80 per cent;
Milwaukee and Northern frsts of 1913.
main line Pacific Of Missouri seconds and
St Paul Terminal firsts, , PER cent; ". &.
NJ and Montana Central Is | per cent