The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-03
GOES OFF LIMPING
STOCK MARKET HAslLITTLE SPIRIT
FOB THE NEW YEAR
Reading Reorganization Plan Failing to
Achieve, Communicates a Chilly Feeling
to the Market-American Securities
Weak on London Markets and Gold
Shipments Helps the Weakening
Changers Suffer Notably in the Railway
List-Coal Stocks Heary-Erie is Low
Spirited Over Inability to Organize.


New York, Jan. 1.-The var 1895
opened on the stock exchange with an
unsettled tone and very light volume
of business. The failure of the Read
ing reorganization plan was a rroni-
nent factor in restricting the dealings
as well as in creating the general de-
preston which took possession of the
| market in the early dealings. London
was small seller Of Reading and Hi
nois Central, and American securities
were weak on the London stock ex-
change. AS the day advanced and the
engagement of s., 200, 600 gold for ship
ment tomorrow was announced, the
weakness increased and the selling was
in greater volume. There were occaS-
ional feeble rallies. extending to part
Of the list, but the trend OF prices was
downward and the market closed weak,
prices, except in few instances, being
below the closing sales Of Monday. In
the railway list, the depression was
great in the granger group. Large
blocks of these stocks were offered for
sale; ruinors had it that the liquida-
tons was for inside interests and that
it was due to decreased earnings which
would be made apparent in the Decem-
Der statement. Chicago, Burlington
and Quincy declined rs per cent, with
final recovery of Il per cent; st. Paul
sold down rs per cent, closing at the
lowest point Northwest fell off is
per cent recovering u per cent in the
closing sales. Rock Island receded q
per cent and regained q per cent. st.
Paul and Omaha made advances of q
per cent in the morning and lost L per
cent in the afternoon. ST. Paul and
Omaha preferred declined l per cent on
the sale Of hundred share lot
In the coalers, New Jersey Central
and Reading were heavy and declined
each l per cent, the last being the low
est price made in both cases. The pres
sure to sell Reading was by no means
great and under the circumstances the
shares showed remarkable SteadineSs.
The other more important losses in the
railway department were: Manhattan,
y per cent; Louisville and New AL
bany, Is per cent; New York, Chicago
and st. Louis seconds preferred, l per
cent; Erie preferred. "a per cent, and
Erie common, per cent Erie was de-
pressed by vague and u1confirmed
rumor that the reorganization scheme
had been definitely abandoned. Of the
industrial stocks Sugar was most &C
tive and weakest. The bears ham,
mered the shares continuously, cauS-
ing break Of 2as per cent, of which
only Is was regained at the close.
Chicago Gas is down IL per cent. Con-
solidated Gas and Rubber preferred l
per cent, Rubber common e per cent
and Tobacco q per cent Advances
were esta blished of rs per cent in Bal
timore and Ohio, ~ per cent in Con-
solidation Coal of Maryland, / per cent
in Leather preferred and Edison Elec-
trio Of New York, and u per cent in
Lake Shore.
There was a firm tone to the trading
in the bond market during the morn
ing but in the later dealings there were
some recessions induced by the heavi-
ness Of the share speculation. The
dealings were moderate and aggregat-
ed $3.50. $50, out of which Southern fives
were traded in to the extent of STAG, 900
and Atchison tours $121, coo.