Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-11
Lower Figures All Along the Line
This Morning.
FALL IN PRICE OF RAILWAY STOCKS
Fresh Rumors Send Down Chi
cago Gas.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO Inc Evening Star.
NEW YORK, June ll.-Last weeks esti-
mate of values gave way this morning to a
sudden revolution in sentiment on the part
of the professional element and lower fig
ures We're substituted all along the line.
The volume of business was not improved.
and general speculative conditions are UNI
altered. The vagaries of such a narrow
market are scarcely worthy of serious con-
sideration, as the appearance of any ag-
gressive outside influence would immediate
ly overthrow professional supremacy and
improve values by extending the speculative
horizon. The slowly accommodating forces
outside of Wall street are decidedly in favor
of the bull position. and this fact. coupled
with the large short interest will soon
form the basis of another rally. The dull
ness and general disinterestedness was.
more than any legitimate factor, the cause
of today's reaction.
The decline in the railroad list was most
conspicuous in the case Of Burlington, whIch
sold down l Is per cent, presumably on
the uncovering of stop orders and moderate
short selling. ST. Paul was forced down 81
per cent and Rock Island lost l-2. Missouri
Pacific yielded to the views OF the pessi-
mistic element to the extent of a l per cent
curtail from initial figures. At other points
of activity smaller fractions represented the
extent of the decline.
The various reports of earnings reflected
large decreases for last month, and the
first week in June is not much of an i'm
provement in this particular. 1t is well to
remember, however, that the best part OF
the year, from the standpoint of railroad
officials, Is yet to come.
In the Industrial group there was also a
singular lack OF enterprise OF the part
OF the leaders. Sugar opened of is
per cent TO 10l and touched 100 IL before
the sellers were outnumbered and the direc-
ton of the price reversed. Under the reli-
able efforts of the iinside interests the price
was easily and quickly marked up to 102
and a moment later was permitted to settle
down reaceably around initial figures. The
recent efforts to withdraw this stock from
its prominent position and show the proper
amount of humility pending anal action on
the tariff bill have resulted in the loss of
considerable block of long stock. which in
order to get back. VIII necessitate 4 further
reduction in price In order 10 establish a
profitable basis for renewed purchases
Should precedent be adhered to, lower
prices will likely follow the closing of the
company's books for the PAYMENT of the
recently declared dividend.
Chicago Gas was sold down / Is per
cent on the republication in morning pa
per OF the gossip against the property from
the standpoint of the Attorney General.
Well Informed interests are confident that
TIE quo warranto proceedings will not in
terfere with the company's future. The
regular dividend is expected during the lat
ter part OF this or the first of next week
The balance of the industriais were dull ana
fairly steady.
The foreign eXch ange mark Il presente ed
TO rev features this morning. rates. con-
oitions and the volume of business beiusy
Unchanged from last week. The larger gold
exporting houses do not anlicinats any
heavy shipments during the week
Philadelphia houses were liberal buyers OF
Reading during the afternoon, and brokers
In rf,at s,r-.
recent buying came from that quarter AS
traiers sold the market pretty freely during
the morning. late attempts to cover strength
cred the entire list, and I'm some in
stances the days best prices were recorded
curing closing hour. Final trading was dun
and somewhat irregular