New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-05
THE BEARS ATTACKED.
WALL, STREET HOPING FOR THE DEFEAT
OF THE WILSON BILL
LARGE COVERING or SHORTS-NEW BULL Pulls
ENCoURAGED-soME OF THE MORE

LARGE COVERING; OF sHORTS-NEw BULL POOLS
| ENCoURAGED-sOME OF THE MORE
HOPEFUL TALK HEARD.
The Wall Street markets become stronger as the
chances of defeating the Wilson tarn Dill app"T-
emily increase. Sentiment was more hopei" yes
terday because of the encouragement feit py ihany
| operators that the weight OF the odious '"c"''e
tax will carry down to ruin the whole revenue
programme Of the ,mocratic party NJ "as"hs
IN, eve know the worst in the Wilson bill.
was the burden of the utterances OF many "Pe'"
lators. land anv change must be toward reduc-
ton by amendment OF its power or evil oI~'a
tors ignored the condition OF the National Treas
urv and tho unfayorabe weekly returns received
from many railroads reporting gross earnings
and bought stocks on the theory that the tar1n
smashers" might themselves get smashed
Foreign houses gave the stock market niue
support but there rumors OF new DUH
pools formed In Western Union Telegraph ana
other stocks where the short interest has peen
excessive The bears covered Literally. ana the
reduction OF the short interest was rejected III
the diminished demand to borrow STOCKS oe'-
eral commission houses of standing chahseu INC
tone OF their market letters to customers anu
began advising purchases Tor the P,esen' W.,
the reactions Considerable bull machinery was
put in motion To help manufacture ENCOURAGING
sentiment. Rumors were started 10 the el"c,
that the Western railroad managers were con-
templating another "Gentlemen's Agreement 10
maintain rates. The probable success vi the pan
for recognizing the Erie was urged as Il puII
factor. Friends Of the Atchisoh, tne C, 'o,
Pacific and other insolvent roads declared 'hh'
there was no danger OF assessments upon 'he
stock and satisfaction was expressed al reports
that certain financial liquidation IN the orree'
had been suspended postponed. second wee.
President Green Of the Pennsylvania Railroad
quoted as saying that sheht l'',p'o one,
mcnt in business was noticeable. mainly IN coal
and iron. which were In better demand ana
moving more freely. President Roswell Miller.
of the Chicago, milwaukee, and 81 faul. was
quoted ms follows: Business has reached r,''ofh'
and | think there ATE indications OF the begin.
ming Of Improvement. The outlook for ST faul
IS satisfactory. December was bad. but look
for better figures from now on. ana esp-'ialIS III
the spring months
tho transactions exceeded 10000 shares Ai'er
an advanc. e. g. the price closed per cent
higher al 5C7.. Chicago. Burlington ana quincy
I'LL tn. cnect of a reduced short interest. and
af,cr touching 1914, ended only :. per cent better
al III Rock Island rose from 62A. 10 HN.h
6iia and Chicago and Northwestern rose from
asi. 10 99iau9s. Western Union Tei"graph wAs
dealt I'm 10 the extent 81 nearly $1,000 shares. and
after selling At S5'., The final price showed
net gain Of 1i- per cent - so. The coal
stocks were unusually strong with I"lawarr
md Hudson s.Uing at i22ai35.. fil3s. Phia-
delphia AMI Reading rose over yer cent on III"
announcemnt that the Spey"r loan had been ex-
tended for three months. with a deposit 81 t'''-
0Up additional collateral Win Inc bhhkrtH
Louisville and Nashville rose from 49,. 20 IA.
and closed at ;ias N.w-York and New-Enx
land advanced from 81 to H. and ended ~ l0ls
The Industrial shares we're Irregular Amer
team Sugar Rrhnins sold from -. 10 IN but
rallied 10 7si,m7Si.. against 1Nh "Wednesday
night. Distilling and Cattle Feeding went
from o2GelT To- 81. i22i. Chicago Gas rose
from Glf. to G2isNG2i. General Electric WAS
almost lcmprailzcl On decline To- 81 but II
rallied - 3iii ami closed 81 g.
'rb. oul- prominent railway stock showing
weakness was Northern Pacific preferred. which
f.li from lNi, "Wednesday 20 ltNrl''-. Fhilt-
d-lphir ga.~ selling orders freely h"ntish
feeling is said Z, have been drvripIs'd by The
internal conflict hDf...en d." company Girec-
,,r. ,,I .u. receivers Tn recent statement
o- General .;Aulger Kendrck 10 me effect That
l. ,id not tre now net earnings for the nscal
year jo end next juno could be- over At'o'.o"-.
tll,. be- .l,a ;n- lIrEr sums "s' lalti"f a. re-
qfiirrG for tine urprov .ncnt "i thc property has
discouraged r,i.- So. Ehu.icr-. D' 80 iisfa"t1n
HIS also n,.r arplsot over ID" ihct ma "ilE
two out nf iW.niy--.ycn branch lines haf" been
abb. 10 ,arn anything above fixed charges