The Washington times., 1894-03-31
LONDON BRACED THE BOARD
Foreign Buyers Again in the Field and
Investing Heavily.
INFLUENCE OF THE VETO SPENT
New Bull Pool on Chicago Gas Sends That
Stock Up-Louisville and Nashville Makes
Gain of S-s-Market Closed Strong at
the Best Figures.

| New York, March 30.-Wall street. There
were evidences at the opening of the stock
exchange this morning that the local traders
were awaiting lead of some kind before en-
| tering upon the market to any great extent,
| and during the first hour of business the
trading was very light.
Although fairly firm at the opening. the
market sagged off at once on selling by the
bears, who were encouraged by the apathy
! displayed by the London houses yesterday,
by the appearance of but few buying orders
for the foreign account at the opening and
by belief that the influence Of the Bland bill
veto had spent itself. Before noon. however,
it was developed that London was again in
the market as buyer and that offerings of
stocks were readily accepted. By degrees
the pressure to sell was removed, and in the
afternoon the early sellers became buyers. re-
sulting in an advance, which continued to
the close, the final sales being made mt prices
Il per cent. higher than the closing sales of
yesterday.
Chicago Gas led the upward movement
on heavy purchases said to be for the account
OF a new bull pool organized by insiders.
Reports were also circulated that the at
torney general of Illinois had reached con-
clusion against the institution OF quo war
ranto proceedings. Despite the fact that this
story was merely rumor. the character Of the
buying in the stock carried with it a convic-
ton that there was something favorable TO
Chicago Gas known to inside interests of the
company
1t was claimed also that goodly amour
of the purchases were made TO cover n Chi
cago short interest. Cotton Oil common and
preferred rose l and 2 per cent. respectively.
on favorable trade prospects. Lead preferred
FOR Il bull pool formed, it Is said, on the i'm
proved condition of the trade, which puts the
company again on n profit-naking basis.
A more favorable February report than was
expected put Norfolk and Western common
up Is aud the preferred 4. Sugar, which
receded q per cent. in the early dealings on
small sales OF long stock, became strong dur
ing the afternoon on the covering of short
sales made yesterday, and advanced 2k per
cent. closing within Is of the highest point
touched. Sugar preferred advanced Is per
cent.
Louisville and Nashville made a gain of 1sS.
mainly or London buying, induced by the
acquisition by that company OF the Chesa-
peake. Ohio and Southwestern road The
GranSers recorded an improvement OF ata1
per cent. the latter st. Paul, in which the
foreign buying was heaviest. Burlington and
Quincy opened 4 higher aad then on Boston
selling broke Is per cent. ralying during
the afternoon on strong buying, touching
s295. an advance of from the low point of
the morning, OF which Is was lost at the
close.
st. Paul advanced per cent. on purchases
based on reports 10 the effect that the net earn
ings for the current year up to date show gains
on the same period last year. Atchison opened
i higher and then declined = on Boston SELL
ing, induced by reports that a foreclosure of
the general mortgage would be required
under any practical reorganization plan.
London bought moderately OF the shares and
room traders followed suit, causinga recovery
of "a per cent.
Among the other leading advances on
the Gays transactions were rs in
Consolidated Gas and Lake Erie and
Western and Union Pacific and l in
Oregon Improvement C. C. and st. L.. Amer
lean Tobacco. and Lake Erie and Western
preferred. National Cordage on sale OF 200
shares broke % per cent. On sales of 5000
shares TO liquidate an old account Chesapeake
and Ohio. which had advanced q at the open
ing. sold down 4 per cent. but when these
selling orders were out of the way. the stock
recovered Is per cent, closing even on the
day.
The market closed strong at or near the
best figures touched.