The Washington times., 1894-05-25
DR.. PARKER. lII4 @ Street N. W.
STOCK MARKET UNSETTLED.
The Bear Sentiment Was Uppermost and
the Shorts Had q Tired Day.

| The Bear Sentiment Was Uppermost and
the Shorts Had a Tired Day.
NEW YORK, May a4-The improvement in
| speculative values made yesterday was in Q
| great measure lost to-day, and the stock mar.
| ket was unsettled and to some extent bearish
There was little left Of that confidence in the
| immediate future and in tho bettermont Of the
! situation as regards the great railwaJ proper
| ties which was SO prominent Il feature of yes
terday's speculation. Ono favorable condition
was the slight rise in the sterling mcrEet, watch
| led TO the belief that gold exports on Saturday
would be less .han had been anticipated and
would not exceed SS,0c0p00, but TINS was not
much, Il any, of a factor in the stock market.
The things which did affect the share spocnla-
tion were the publication OF railroad reports
showing continued decreased earnings. the an
nouncenent that the coal stftko was stiIl lar
from ended, the apparent uncertainty rs 10 the
prospects OF the tar bill, and the fact that rail-
road managers in session In Chicago had not
arrived at any basis Of settlement ON the ques-
ton of rates 1t was day en- which the Dear
sentiment WIS upperInost, and the shorts took
advantage Of the pervading gloom 10 hammer
the market In the hope Of bringing ont long
stock. Evidences were not wanting OF liqu!da-
tion in some Of tho leading properties, notably
Sugar, in which some Washington accounts were
closed out. Burlington and Quincy was also
sold by Boston houses, and St Paul by Chicago.
In New York Central the transactions wore
unusually large, the selling being mainly by the
bears, but during the afternoon orders 10 sell
were received from London in quite considera-
Bile amounts. The sales were accompanied by
renewal Of the old rurnors TO the eject that the
financial condition OF the company would ne
cessitate reduction in the dividend rate sellers
sixties if this STOCK YVES again put out at l4ttl7
below the regular rate. III tie morning London
was IN the market as buyer OF st Faul, Louis
Vile, and Nashville and OF small amounts OF
New York Central, and later in the day sold
both New York Central and ST. Paul The
market opened firm at u fractional advance on
yesterdays quotations, Reading. which was ls
lower being the only exception. For fully three
quarters of an hour the trond Of prices was up
ward except for sugar which, after the opening
rise, reacted fraction. but quickly rallied and
established a higher level Missouri Pacific be-
ing also prominent in the adrance Before II
O'Clock Sugar lost the entire gain, carrying the
rest OF the market down a fraction, including
New York Central
The speculation was heavy until near noon,
when a fractional recovery took place in the gen.
eral list and rise of : per cent in American
Tobacco, the greater part OF which was..subse-
quently lost. Soon after midday the buying
movement spent its force, ana the market again
took a downward course, the declining tendency
continuing until near o'clock, when another
recovery of a fraction occurred, promptly fol-
lowed by reaction
In the early part of the last hclf hour sharp
upward turn was made, in which the cordage
nent
Some shares did not participate in this ad-
vance, and Wheeling and Lake Erie preferred
broke ga, with a partial recovery, and a lew
other stocks recorded losses OF n fraction. Sugar
was very erratic in its movements al day, open-
ing at I03l4, receding TO l024, advancing to
1914, then after numerous intermediate fuctua-
tions breaking to 100, closing II above the lowest
point touched at a decline OF 21s On the day; the
preferred stock rose u and declined 1$s.
The other more important losses on the day
are: La Clede Gas preferred, 13i; Hooking VAL
ley, 15s: Illinois Central, III: Lake Shore, lIA
New York Central, So. Paul and Omaha, and
kanawha and Michigan, per cent The
Grangers are down ssss4, except Northwest,
which is unchanged.