The Washington times., 1894-04-24
coxEY AND WALL STREET.
The CommOnweal Is Rcckoned an Unse-
Ting Influence in Financial Circles.


The Commonweal Is Reckoned an Unset.
Ting Influence in Financial Circles.
New YORK, April 23.-The week opened on
the stock exchange with heavy tone to the
share speculation and prices declined heavily
during the first hour and a half Of business.
The depression was increased by the weak
ness OF the London market for American
securities, and the arbitrage houses were
sellers of St. Paul, Atchison, Union Pacific,
and other of the foreign specialties. The
room traders were nearly all on the short
side of the market and the professional bears
put out some heavy lines The labor question
and the increase OF the great army of unem-
ployed arc being used as unsettling influences
on the street. and even in some conservative
circles the march on Washington is beginning
to assume serious aspect, in view of the
excuse which it offers to professional agirators
to create n disturbance OF the relations
between labor and capital.
Sensational dispatches have been sent
abroad regarding the situation. to which are
mainly due the weakness of our securities in
the London market and selling of the foreign
account in the market The Industrials were
most freely sold during the morning and gave
way most readily. Sugar leading. with a break
of 21S under sales made by operators who had
recently been bulls with stock. General
Electric was also freely offered in behalf it is
said. OF the pool which had brought about
the recent advance, and which thought the
time had come to liquidate the decline in this
stock, reach per cent. with subsequent re-
covery Of 49, and u final reaction of II.
New Jersey Central lost ia. American
Tobacco. Union Pacific, Wheeling, and
Lake Erie preferred 1sS. Chicago Gas,
Louisville and New Albany, and Cordage u,
st. Paul Is, and Atchison and Sugar pre-
ferred per cent. Chicago Gas. which later
lost an additional IS was sold on Chicago
orders. presumably to realize profits. as there
were no unfavorable advices touching the
stock.
Between II and 12 o'clock the downward
movement was checked by, purchases to cover
short contracts and by buying for the long
account. induced by the lower range Of values,
The purchasing movement while not very
strong was steady throughout the early after
noon. and recoveries were made not exceeding
a fraction. except in the case of Cordage.
which rallied per cent. The higher figures
were maintained until after delivery hour.
when renewal of the selling caused re-
action, in which most of the early improve
ment was lost and still lower figures were
touched in many instances, Northern Pacific
making a total decline of II aid additional
declines being recorded of q in American
Tobacco and 1S(d3S in other shares Of the
active list
Sugar recovered l. 4 of the morning decline,
losing 4 in the final sales. the decline of the
day being 11s; the preferred is down per
cent. The other chief declines on the day are
American Tobacco and New York and New
Haven, 2; General Electric. IL: New Jersey
Central and Delaware, Lackawanna and West
ern. 13S; Louisville and Nashville. ~ Lead
and Northern Pacific preferred, =: Chicago
Gas, Manhattan. Lake Erie. and Western pre-
ferred. 13S; Union Pacific. Wheeling. and
Lake Erie preferred. II. and st. Paul and
National Starch first preferred, per cent.
Some few shares recorded an advance on the
days transactions, notably st. Paul and Dn-
luth and United States Leather preferred, ] per
cent, and Interior Conduit preferred, ~.