The morning call., 1894-05-03


NEW YORK, May Emancipation OF large gold
shipments by to-moIrow's and Saturdays steam
ers had depressing influence on the stock ex-
change market to-day The action of the old
bondholders committee IN Reading. looking to a
foreclosure of the general mortgage aud the for
nation Of new committee for the same purpose
was another disturbing element Of the speculative
situation, Inssmuch as 1t postponed indefinitely
the reorganization Of the company and may posi-
bly, result in the disintegraton of the Reading
system. A q unsettling factor was the uncertainty
which prevails as to whether the Erie reorganiza-
tion plan is TO be modified. conferences being III
progress between the respective counsel for the
Hartman committee, which opposes the plan
and for the Drexei-Morgan committee, which pre-
pared it The bulk of the dealings wa $ ia the in
dustTials and of these sugar. Lead, On icags Cas-
Distilling General Electric, Tobacco an d Cordage
lead in the transactions IN the order named
nile Of the railroad list. Reading, Chicago, Bur
lInguon and Quincy, St. Paul and Missouri Pacific
were the only stocks which showed any degree of
activity. At he opening fairly firm tone pre-
vailed generally Sugar being al exception, open
ing fYe-eighths lower and quickly losing ad-
ditional three-four tbs The rest OF the market
became heavy in sympathy and a general break
took place. ranging M one and one-half the
latter in CordAge preferred. do common. Louis
Vile and Nashville, Reading and Northern Pacific
preferred. being aso prominent In the decline The
lower Agures induced a covering OF short
tracts in the induStrIas. causing these shares to
take upward turn, but bringing no improve
named stocks advanced fracttOnaily. Tut the rise
was checked by attacks on Lead and General Elec
trIc. the bulls in which were endeavoring TO
Iquidate out the strength displayed by this
group of stock Lead sold down per cent and
General Electric fell off "a in the face of report
that it had won important patent suit winch
would ordinarily have been good for substantial
advance. The denial OF reports In circulation for
the past few days that dividend on Lead would
be declared on Saturday helps TO depr that
stock, The market was dull and without impor-
tant feature during the middle of the afternoon
AFTER delivery hours sugar, which had been
steadily gaining since morning, came in TO heavy
demand and rose sharply 10 1851 an advance OF
2Ib from the lowest point touched IN the early
dealings, closing within IS of the top figure, and
I per cent higher on the DAY. the preferred also
In the Improvement TO greater or less extent,
and the market closed strong, but IN the main
prices were below yesterday.
The bond market was weak during the greater
part OF the day, 80 80
shares Including American Tobacco, 300; Amer
lean Sugar 4O, 400; Burlington, 1900; Chicago
$500. Missouri Pacific, $500: National Lead, So
700; National Cordsge, 32OO; Reading zo'fVO;
st. Paul. 300.
Government bonds firm.
State bonds dull.
Petroleum steady. Pennsylvania oil sales none;
May option sales none. Closed 80 BID Lima OIL
NEW YORK.. May 2.-The Post says: A curious
factor IN the trading in Industrals was the lnIl,
that there might be "hiUch" in the Senatorial
programme for the trusts. 100,
-.
whether it would IJok well to cut public inquire
IS dummies of the trade combinations. No names
were mentioned and, even n the reports nad gOou
foundation, which is uncertain. Wall street sus-
poets from old experience that some oil the gentie-
men in question have no regard for appearances.
But the rumor to-day really confirmed lurking
doubt TN the minds OF SPECTATORS as TO the gen
eral upshot OF this lobbying performance and on
this score encouraged selling Of the stocks.
GRAIN MERCHANDISE
Wbeat-May. 60IAc.
FIour-Steady.
HopS-Dul.
Pigron-Quier; American sll 50@sl3.
Copper-Easy.
Iead-Quiet.
Tin Firm: straits $40: plates dull.
SpeIter-Steady; domestic So ~ asked
was inactive all day with trading local and closed
steady at s. to 10 points net decline. Sales 800
bags Including: May, SIS 3O@sl5 40; June,
SIb 3EOSl5 so: July. SO 20; August, $l5i Sep
tember ga 7o@Sl4 70; December. $l4 ~, spot
coffpe-Rto nominal; 40 z. $751;. Mud. quiet;
Cordoya leMI9L4c; reported sales OF l5O0 bags
Rio No spot at $1615. Warehouse deliveries
10 urope during April. $1,000 bags: and santos
Shipments TO Europe $4,000; BIO shipments 10
the United States during april 2,5oD, ana SNIP
meuts to the United States. 24,OOO hlo marKet
ouIet: quotations, nominal; none gwen, ex-
change SOD: receipts 5000 bags: STOCK IOo:oou
bags Santos-Market quiet; good average ian,
tos $4,000: receipts, 1000 bag; stochs, 5o,ooV
Havre MAI ket-May, 12f lower: other mouths "a
lower; sales 5000 bags: market du9l; holuay
Hamburg-Market quiet; October "A pig lower:
other months unchanged: market quioI noiioA'
Tomorrow.