Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-21
FINANCE AND TRADE
Dizziness Characterised the Days
Operations in Wall Street.
REPORT ON ATCHISON DETERMINATION
Decline Of the Industrial
Stocks.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star.
NEW YORK. June 21.-Prices were gen
orally steady at the opening Of today's
STOCK market. but sold Of on moderate
uaolng later in the day. London bought a
rev stocks. principally Erie. but was rot
a factor In the local business Dulluess
was the only incentive TO lower prices and
proved valuable substitute for more leyit-
innate arguments Denver and Rio Crsnde
preferred opened Of l per cent ana lost
per cent additional on a small volume of
business. Missouri Pacihc was freely sold
by the professional element for a loss Of
l-2 per cent. St Paul and Nashville each
lost 1-2 per cent, and the balance Of the
list made no important changes.
The publication of Atchison's plan Of re-
Organization was taken for a signal for re-
nsNod selling. resulting IN a decline of "a
per cent. The action Of the ctock was
81 mewhat OF a disappointment as many
purchases have recently been made on the
belief that the reorgRniza ton scheme had
been discounted. and that a rally would
follow Its announcement. The plan pro-
vtdes for foreclosure under either the gen
erai mortgage VI second mortgage bonds
according to advice of counsel and the
creation OF a new company free of all the
present company's obligations except where
sueh onlgatlons are given priority over the
mortgage foreclosed. The room Is beartsh
on tie stock. even at these prices and be-
iieves that the difference between PREVAIL
ing quotations and zero will give the mar
GIN OF profit derived from short sales This
argument Is based on the precedent estab-
lished by Richmond Terminal which .old
DOWN slightly under the amount OF a.,
nsI assessment similar argument is
USED py the bears against the remainsne
so.caiied bankrupt stocks
me ihoustrials were only fairly sct,va
sugar ana Chicago Gas monopoliztns the
outH OF the business. The FIRST mentioned
SOLO down ga per cent on sales .ttributed
~ the room to realizing. At the reductton
ar,i, some Inclination TO buy appar-
ehtiy Tor inside account
Chicago Gas declined / ga mar cs,, ,-.....
lack OF pool support There 10 no abs re-
Heht OF QUIZ sentiment as applied 20 fhis
property, but many holders OF long s,ocl
nave become impatient at the DELAY On an
nouncing the time Of paying the NEXT o,ys-
oeno ana the source OF distribution. Else
Were the industrial stocks were dun ana
steady without special feature
The market for sterling and continental
piiis opened nrm at unchanged rstet Two
million gold has been engaged for SATURDAY
and further engagements are expectsd -
tore the hour OF sailing. There are no in
oications OF Improvement In the suppiy M
pnls ana IL Is Impossible 10 estimate tust
when the outflow will cease Slightly easier
money rates abroad would cancel the nres
ent narrow margin of profit 20 the expor,
ing houses and result IN q discoutinusnce
OF the movement
Prices rallied somewhat during the last
nour, put the volume Of business ana The
changed The result OF the day,. trsaSnr
was IN favor OF the bear element Which
turned the lack of aKgressiyeness ON ths
part OF the bulls 20 good Account