The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-09-26
New Yorx Markets.

NEW YORK, Sept. 25-The speculative 1udg-
menG the Reading reorganization plan as
evidenced by the course of the stock and bonds
In to-day's market is decidedly unfavorable. The
plan has been fruitful subject OF discussion on
the to-day, and while opinions differ as to
It's merits, there is pretty general opinion il will
become operative in view OF the fact that It is
favored by the receivers, and it is claimed by the
ocott-Earle interests that 1t Will not be opposed
By the Drexel-Morgsn party. 1hs latter claim is
not generally accepted as being based on positive
grounds.
AT the opening of business on the Stock Ex-
change this morning the stock OF Reading was
offered for sale in round amounts. houses with
Philadelphia connections being the heaviest sell
ers, ana the result was break Of 1a to 1875 In
the first quarter Of an hour.
The decline attracted buyers. whose purchases
fifteen minutes, after which very little trading
was done in the shares and the price was held un-
changed up to midday Early In the afternoon
further rally to 1893 was made. followed by
newed selling and q return TO the low point of the
morning. Only one sale or the stock was effected
during the last hour which was at recovery of
3s, leaving the net loss on the day IA per cent.
attack made on Burlington at the opening
by bear Clique. which 1t s said, determined 70
open the stock below 70. or the other grangers
st. Paul sold 10 oderately by London, bnt buy
ing by the shorts more than cOuuterbalanced the
sales. the shares fuctuating within the narrow
range Of 20 per cent and making gain Of d on
yesterdays closing
Rock Island rose Ga the closing on the short
contracts, lost the Improvement under bear raids
hut in the later dealings regained the loss tie
Disabling vague Western rumors that some new
unfavorable disclosures were impending which
sent the stock down l1s per cent. Confirmation
OF the reports being lacking. the shares rallied %
per cent IN the afternoon with fin reduction OF
rs Despite the fact that for rumor had
nothing against Chicago Gas, the traders sold n
down on the plea that Insiders had heavy selling
orders, and after opening at advance of 30
the price was lowered 1873. co 691A During the
afternoon the buying and selling were pretty
evenly balanced. the last rates being ss above the
lowest and 6s below the closing OF yesterday
Sugar opened lower. but quickly came IN good
demand Tor no known reason and rose 1919 per
cent, but gradually lost all but 3s. The preferren
declined per cent, little IL any efoct being made
on the STOCK by the announcing emit OF the pro-
fneries.
Among the active shares Alton and Terro Haute
advanced per cent and Rome, WATERFOWL and
OgdeRsburg & per cent, while tobacco preferred
and WssterD preferred and Cotton Oil l per cent
National starch first preferred. and Toledo and
Ann ArbOT, are up cent. The rest of the shares
traded in changed but fractionally and were dealt
but lightly. The tone OF speculation at the
close rather heavy.
The bond market WAS comparatively quiet, the
sales aggreg aing only $845, 500. but the trading
was strong. except for Reading issues, which were
unfavorably affected by the publication OF the
proposed plan OF Reorganization. The declines on
~ do first preferred. ! %, aud do seconds. ia.
Losses were recorded In richmond and Danvilie
Equipment fyes OF per cent: PennsylvanIa
4Ia's, IN: Pacific Gold skies, Northern
Terminal firsts and 81 EPaul Consol. l. Most OF
the active issues traded In recorded advances
cent: do. Grand Trunks frsts /: Denver and Rio
Grand Equipment fyes. 81a Milwaukee and
Northern irsts of 9, 13; main line Pacific OF
Missouri seconds and ST Paul Terminal frsts, 2;