The Wichita daily eagle., 1894-12-11
WEEK OPENS WEAK
MARKET DEPRESSED BY TONE OF
LONDON EXCHANGE
Heavy Sales of Erie stock on Unfav-
orable News From Both Sides the
Water-Sugar Stock Heavily Trad
ed in-Coalers Heavy, Closing
Generally With Losses.

New York, Dec. 10,-The week ope ned
in the Stock exchange with a weak tone TO
speculation, being depressed by the heavi-
ness of the American securities on the
Stock exchange. There was a.so active
selling here for tie foreign account OF a
majority of the international s2ecialties.
A report that Drexel, Morgan & Co. of
this city and J. s. Morgan g. Co. of Lon
don would issue simultaneously a state
menr declaring that the Erie reorganizs-
ton plan would be abandoned and that "A
stock assessment would be levied, Induced
sales of the common stock in an unusually
large amount. causing a decline of per
cent. while the preferred on sales of only
400 shares declined ~ per cent compared
with the last previous sale whicI was
made on November Is Sugar was heavily
traded in, but the movement in the stock
was in the hands of the same clique which
controlled last weeks great speculation
IN the shares. AT the opening decline of
q per cent was made. followed by an ad-
vance or rs per cent, a reaction of per
cent, and gain of IL per cent TO IS per
cent shortly before noon, that being the
top price for tue day. During the after
noon tie fluctuations We're frequent and
shortly before the close tie stock touched
90% per cent, the low figure of the
morning. closing at recovery of
y per cent. Compared with Sat
urday the shares are down & per cent,
and from the best Of the day 25s per cent
The coal shares We're heavy Oh sales be-
lieved 10y many to be in liquidation of long
stock for the account of Insiders of the
group, all closing at the lowest, except
New Jersey Central. which rallied 5s per
cent In the final trading on small cover
iDgs. In the grangers the trading was
light except as to ST. Paul, of which Lon
don Was a seller and the fluctuations were
cOufined within fractional limits, save in
Northwest, which moved within n range
of | per cent. The tendency of the stocks
was downward and the sales show lo>s-s S
from Saturday OF e Der cent in St. Paul
and q per cent in Rock Island.
Burlington standing unchanged. The
general market was somewhat Irregular
but was weak in the main aud closed 1s5p
Is per cent lower than on Saturday. the
latter Lake Shore. Some few of the
specialties show gains in the day, iDclud-
ing Consolidated Gas per cent ST. Paul
preferred Ia per c-ut; La Clede Gas per
cens; 90 common 3 per cent; Rubber pre-
ferred per cent and National Starch
per cent. The market closed about steady
The total sales OF stock were 2S2 is2 shares
including American Sugar 13S 0O0, Bur
lingtOn 4 500; Chicago Gas q 1900; Erie
u 600: NV J-rsey Central g. 500; North
vest 3. 200; Reading $500; Rock Island
800; 81. Paul Is. 400; Wheeling and Lake
Erie ). 500
The bend market was slightly easier
during the day for the more active issues,
but few material changes were made
either way IN the active securities. A fair
amount of business was transacted with
AtchisOn firsts and SOuthern fives figuring
for Sl6o,OO0 each out Of total Of $l,3Sl,-
0l0