The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-05-03
rnE new roRk nAHxErs.


NEW Yonx. Nay 1-AnticipaSion At
large gold shipments by tomorrow's ana
casurday's stsamers had Depressing In
uuencs on the stock exchange market to-
Day. The action Of the old bondholdsrs'
committee In Reading. locking 70 fore
closure OF the general mortgage and the
formation Of new committee for the same
purpose Was another disturbing sismsnt Of
the speculative element, inasmueh - Is
postponed indefinitely the reorgsnis ation
OF the company. aud may possibly result
IN the disintegration Of the Reading sys-
tenn. An unssttiing factor was the uncsr-
tainty which prevails - 20 whether the
Erie reorganization plan 10 to b modified,
conferences being in progress between re-
preventative counsel for the Harrimau
COMMITTEES. which opposes the plan. and
the Drsxei- Morgan COMMITTEES. which pre-
pared II. The bulk Of dealings vas in in
dustriais. and Of thsss Sugar, Lead, Chi
cago Gas. Distiliing. General Electric.
Tobacco and Cordags lead in the transac-
tons in the order named. while Of the rail-
way list, Reading. Chicago, Burlington Il
Quincy, Sc. Paul and Missouri Pacific were
the only stocks which showed any sctiv-
ity. At the opening fairly arm tone pre-
vailed generally. 6agar being % sxcep-
ton. opening Is lower and quickly losing
IN additional 4. The rest Of the market
became heavy IN sympathy. and . general
break took place, ranging up to III the
latter In Cordags preferred, do COM
mon. Louisville & Nashvills, Read
Ing and Northern Pacific preferred
being also prominsnt In the de-
cline. Tho lower figures induced . COW
sring Of short contracts In industrials.
causing these tharss 70 take IN upward
turn. but bringing no improvement IN the
railway list. Altar midday the last named
stocks advanced fraotionslly. but the rise
was checked by attacks on Lead and Gen.
erai Electric, the bulls In which were au-
dsavoring TO liquidats the strength
displayed by this group Of stocks. Lsad
sold down per cent and General Electric
fell OF a In the face Of report that IL
won IN important patent suit, which
would ordinarily have been good for sub
stantial advance. The denial OF reports in
circulation for the past few days that =
dividend on Lead would BE- declared Satur.
day helps 20 deprcss that stock. The mar
ket was dull and without feature during
the middle of the afternoon. but after the
delivery hour, Sugar. which had been
steadily gaining since morning, came into
heavy demand and rose sharply to 1854. IN
advance Of 2tt from the lowest point
touched in the early dealings. closing
within y Of the top figure and per. cent.
higher on the day, preferred also gaining
! per cent The rest Of the market shared
In the improvement in greater or lesser ex-
tent and the market closed strong, but In
the main prices were below yesterday.
The bond market vss weak during the
greater part Of the day.
Government bonds-Firm-
state bonds-Duli.
Pstroieum-Stsady; Pennsylvania oil
saiss. mono: May option sales. none;
closed, $50 bid. Lima Oil sales, none.
FINANCIAL.
Mouey-On cali. easy at 1 per cent !:
last loan. per cent; closed 1 per cent.
Sterling exchange firm. with actual
business in bankers bills ut SAssA0
4. 50 for demand. and "a. 81. GAS, \ for sixty
days. Posted rates. $s.S6AtA S95s CONNER
cial bills. 81 So set4.ecs4.
Silver cerGiilcates--64165c.