The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-10-28
CENTERS IN COAL
CONTINUED PRESSURE ON BLACK
DIALOND STOCK.
Bear campaign Urged on With Vigor
and Heavy Losses Scored-General
Market Catches the Infection
Shorts Raid Northwest - Other

NEW YORK, Oct. 27.-Tnterest in specu-
iatlUn On the stock exchange today was
conferred almost entirely in the coal shares.
which were subjected to heavy pressure in
continuation of the bear campaign against
this group The selling in New Jersey
Central was heaviest, but d lawsre. Lack
awana and Western made the greatest de
cline. while Reading was Comparatively
well held. Board room traders were very
bearish Indeed on New jersey Central,
the decrease in earnings comp red with
last year being pointed out as a reason for
bringing the stock down to lower level
The decline in the shares began right
at the opening aud continued to
near the close. at which time Lackawanna
had lost 81 per Cent, Delaware and Ii I'D
son = per cent and New Jersey Central
~ PR cent Reading advanced = per
Cent, lost tue improvement aud rallied x
per cent. RecOveries were made in the
final dealings of y per cent in Ltckswanna
and Is per cent In New Jersey Central
leaving the losses on the day 81 per cent
and Al per cent respectively. Tue general
market opened dull and fairly steady. out
the depression in the coalers WAS quickly
commune ted to the Others of the list anu
prices sagged of. Northwest was ralded
by the shorts and gave way rs per cent,
closing within = per cent of tue lowest.
The break in Northwest was accompanied
by rumors that scaling of old
dividend rates would have To be made
owing 10 the decreased earnings, which
We're, however semi-officially denied. The
movement In the other grangers was tri-
fling, "a loss of - per cent being made ia
each, from yesterdays closing. Louisville
aud Nashville was sold by London and the
room traders, and declined II pers cent
without rally Hooking Coal declined
IL per cent and the general list 1SGX pr
ceut except some half dozen STOCKS which
made gains of 3E@15 per cent The bank
statement was regarded as unfavorable as
revealing congest-d money market aud a
contraction OF business and the share spec
ulatiOn was somewhat weakened thereby
and closed heavy,
The past week has been one or the dull
est in he history of the stock exchange
the total transactions for he week beins
l32, 900 shares, which amount of bust
ness is only equal to single
days work under normal conditions
ln the first half OF the past week
speculation was stagDsnt, but for the past
two days a bear demonstration against the
coal stocks has impaired interest 10 the
trading, with few exceptions the stocks
dealt In showing losses OH the week.
The bond market was generally firm ex-
cept in the full dealings when there were
fractional recsssions in sympathy with the
weakness In the share market. The trans
actions aggregated 500 0O0 As a result
of the trading fractional declines were es-
tablisbed in most of the issues dealt in,
while advances were made of l$t per cent
in Wisconsin Central and l per cent in
Alton and Terre Haute divisional bsnds.
The bond market during the week has
been In the main firm in contrast with
the share speculation, the trading being
fairly active. the total sales reaching the
sum of s., 1S9, 900 Prices at the close are
generally higher than those of the Satur.
day previous.