The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-27

Insiders, as is Suspected, and il Sinks
Four and a Quarter Per Cent-Indust-
rails Generally Down on the Day-St.
Paul Stock Strong and Other Changers
Rejoice With It--Idea That Something
Must be Done fo- the Financial Situa-
tion is PreyaIent-Week's Review.
New York, Jan. e6.-The leading features
OF today's speculation on the Stock Ex-
change was the renewal OF liquidation in
Lead common. These shares were heavily
pressed for sale, IL is believed, by insiders,
who are in a position to know the COM
pany's affairs. The character of the sell
ing Therefore caused more credence 10 be
given 10 the rumor that the common
stock was to be taken of the list OF
dividend payers At the opening the
! shares were y per cent lower and
further sharp decline OF Il. per cent took
place. II the later dealings = recovery
| OF :: per cent took place, OF which Il Per
/ cent had been lost at the close. making the
decline on the day a. per cent. Lead
preferred, declined steadily throughout
the day in sympathy with the common
and is down 2ss Per cent from the final
sales OF yesterday. So lar as is known
there is nothing in the condition OF the
company TO account for this depression
in the value OF the shares, but the street
accepted the selling as indicative of the
views OF those acquainted with the true
situation of affairs. Chicago Gas opened
= per cent lower and then advanced ! per
cent in the covering OF short contracts, a
report being current that a settlement
I betweetn the opposing interests in the
company has been affected. The higher
! long and a decline of per cent was re-
/ corded on free selling, the last being the
/ lowest price OF the day. AoSt OF the other
/ industrials are down on the days trans
actions. including Cotton Oil preferred.
/ IL per cent: same common, q per cent:
Leather preferred and Consolidated Gas.
l per cent, ana Tobacco, = per cent. Dis
! filling lost g per cent. but made fuli
I rally at the close. General Electric re-
3 ceded Is per cent, recovering 4 per cent.
London was a small seller Of ST. Paul al
/ the opening, but without depressing the
stock, which was held firmly on the re-
ported increase of $l.s0S in the December
net earnings. The other Changers were
strong in sympathy and at the close Bur
! lington was up l. per cent, and North
west = per cent, while ST. Paul and Rock
/ Island are unchanged. Most of the rail-
end of the day from yesterdays final
| sales Some few shares show gains OF a
! small fraction and Pullman is per cent
| higher. Speculation was generally heavy
| in tone, except within the last half hour.
/ when q covering movement set In. Nhicn
was due to 4 belief that immediate action
would be taken by President Cleveland
with view to restore confidence III the
| financial situation which had about resc
| ed a point when such a step is regarded
| as absolutely necessary. And on thls
| point Of view the market was firm.
| The week just closed has been disastrous
| to the vaule of railway and industrial
| share. and the low point or the month
was reached in sixty-six of the stocks
| traded in, while some shares sold below
/ the bottom figure of last year: The con-
/ tinued heavy shipments OF golc was one
/ Of the most depressing influences or the
/ market, involving as II Old, serious 9e-
| crease in the treasury gold reserve, and a
/ heavy draw on the gold coin in the vaults
| of the treasury available for the rCdefnp-
! ton of gold certificates. Liquidation was
| plainly discerrible in the shares OF the
! receivership roads and in several OF the
| low priced stocks. Heavy blocks OF Lead
! common were thrown on the market,
] leading to a belief in current rumors
! that the payment of dividnds on tnai
/ stock would be discontinued and talk that
the forthcoming annual statement would
/ be unfavorable. The net loss on the week
] is S1@ per cent, which is within y per cent
of the lowest. Lead preferred also shared
/ in the weakness and made a decline OF
! 5Ss per cent. Northern Pacific preferred
| on a reiteration OF the statements that
| an assessment would be levied on the
shares. sold down 21s per cent W.t hiea
| common touched 27s per cent, the lowest
| price ever registered. The Cordage shares
while less animated, continued on their
!
| of the common at IA per cent; preferred
at per cent, and guaranteed at l'@4 per
! cent the prices of the two first named
being the lowest yet recorded. Union
Pacific attained an advance OF y per cent
| in the early part of the week, put toWaru
! the close. liquidation of long accounts
caused q decline of IL per cent to Sc per
cent. the closing price eng I. per cent
| below last Saturday. Missouri PaCific
was subjected to drive which carried the
| shares down from 233s per cent TO = per
cent the lastp rice made being Zlts per
| cent Sugar was marked up rs per cent,
| TO 9O7s per cent. on Monday on the an
| trust by the supreme court, but reacted 10
| Sg1s per cent, recovering in the mai deal
ing and closed unchanged on the week.
| The Changers eased off early in the week.
but when the senate reported the pooiins
bill without amendment there was a
sharp rally A subsequent announcement
to the effect that the bill would De SUD
iected to vigorous attack by those sen
a tors desiring amendments to II brought
about 4 reaction which was party re-
covered in the final trading on buying
induced by St Paurs favora Die December
statement. The losses on tns W. ~, al Z
ls612s per cent the latter in Rock Island.
The bond market was generally ne2Ey
during the two hours OF business. Inc
2 gareCate sales were Si5l.JQ0.
TIE speculation in the bond market
during the week has been heavy and the
general trend Of prices downW,aT1. me
aggregate sales were $5,lZ3.rJJ. The main
fasturs of the trading was the Reading
:esllce some sales of which We're regis
fered a. the lowest evr made. There
we're also some noteworthy declines IN
some of the usually inactive mortgages
and final prices are generally al hDeral
recession from the previous SATURDAY