The Washington times., 1894-10-02
WHISKY And SUGAR WEAKER
They Lead the Industrial Group in
Declining Market.
FLUCTUATION In CHICAGO GAS
The Announcement of the Regular Dividend
Was Discounted by Rumors of Offerings
from the inside and the Close Was
Lower-Grangers Heavy-Easterns Weak

New YORK, Oct. 1.-The stock market
opened irregular and very quickly developed
weakness in the entire list on pronounced
selling movement. The pressure to sell was
heaviest in Sugar considerable long stock
being thrown on the market and the bears
putting out new lines Of shorts. There is a
belief that the Sugar clique looks with not
unfriendly eye on this liquidating process.
Certain it is the market receives no support
from this quarter. In the opening dealings a
break of 1% per cent. took place, followed by
a recovery of Is, and for a short time the i'm
provement was maintained, but during the
afternoon renewed sales sent prices again
downward, the decline continuing to he
close. The last sale was at the lowest Of the
day, and showed loss OF 235 from the final
sale of Saturday; the preferred stock receded
-, to 921s, which is 5as per cent. above the
common stock.
Dstilling sought still lower level to-da Y.
touching IL, a decline OF l i per cent. from
Saturday. Rumor was busy with the arairs
OF the company, all last weeks stories being
renewed and a new one circulated to the ef-
feet that the directors had failed in an effort
TO borrow 5500.000 to pay of rebate vouchers
WHICH HGl nlhtureU. Inc SHOTL interest De-
gan 10 cover ut the lower figures made by the
shares. and IA recovery OF IA per cent. ensued,
of which Il had been lost at the close.
Chicago Gas opened 5s Der cent. higher on
continuation of Saturdays covering of
shorts but the advance was promptly checked
by heavy offerings of the stocks and steady
decline took place which continued to the
close. the last sale being l9+ per cent. below
the best OF the morning and Is lower than
last yVa1L-fE clQsiDfr The heavinasS Nf fhA
shares in view of the announcement Of the de-
claration of the regular = per cent. dividend
in cash is accounted for by the assumption
that insiders supplied the bulk OF the stock
placed on the market.
The other less active ihdustrials participated
in depression manifested by the leaders OF
the gronp. declines being established at the
close OF IA in Leather preferred IL Lead
preferred, l = DO. common; y Cotton Oil.
do preferred; Tocacco common and preferred,
aud Laclede Gas and 81 in Cordage.
In the railway list the grangers were most
active, but were not subjected TO very heavy
selling pressure, although the bears made
occasional drives against them. The tuctUa-
tion In the shares were only fractional except
in Burlington and Quincy, which declined l
per cent. with a final rally OF g. st. Paul
lost y. Northwest preferred i. and Rock Isl
and q ou the day, and Northwest common
gained IS Western Union was depressed by
/ liquidation OF bull pool which was taken
| advantage Of 10y prominent bear operator
to raid the stock. A decline OF ~ resulted.
OF which only Is had been recovered at the
close. Atchison fell of Is per cent, to 3, on
Boston selling. but recovered $E
The other more important declines on the
day are New Jersey Central, 80 on sales Of
200 shares: Pittsburg c. c. and ST. Louis pre-
ferred. II, and New England, Manhattan,
Lake Shore, Lackawanna and Adams Ex-
/ press. per cent. The market at the close
! was weak in tone.