New-York tribune., 1895-09-12
LOSING PRICES OF CHICAGO STOCKS.
ON THE STOCK EXCHANGE.
Wednesday, September l1-r

Wednesday. September lip. m.
It was generally believed at the opening OF
business that the bond syndicate would make
gold deposit at the Sub Treasury IN the course
Of the day. and shortly before O'Clock S3,oOooVV
gold was turned over TO the Treasury's account
bv the managers of the syndicate. The stock
market seemed In general to be moving In the
early hours on this expected action by the syn
dicate and there was a notable lack Of the un-
easiness which has been apparent In the last
two days over the Treasury situation, but
toward noon the bear element succeeded In bring
ing about heavy liquidation. and declines aver
aging from to per cent were recorded When
the announcement OF the syndicate's deposit was
made a rally set in and closing prices were SUD-
stantially above the lowest Of the day. though in
most stocks under yesterdays hnal quotations.
The influence of the foreign exchange situation
upon the stock market during the few days when
gold Withdrawals have been made with no de-
posits by the syndicate, has been pronounced
and the course of prices during that time has
only to be consulted to make this statement
emphatic The market for most stocks has
steadily declined in that period. but only small
holders have displayed fright at the SITUATION
and heavy interests have taken little notice or
current quotations. Some pond Issue ,aih Was Vas
heard to-day and many people believe that the
Administra ton will be forced TO increase the
country's funded debt again before the winter.
There was considerable liquidation by London
and selling for speculative accounts. ana the
Granger shares were prominent In such move
ments. St Paul. Burlington and Rock Island SUI.
fering net declines, which In the case or ST Paul
and Rock Island over ! per cent. Inc
lower estimates made by the Government crop
report probably exerted some influence on these
shares The directors Of st. Paul declared a
sem-annual dividend OF per cent on the COM
mon stock and 31 per cent on the preferred TO-
day and an unofficial statement was made by
one director to the effect that the crop outlook
and the general Improvement In Industrial con-
ditions in the West would pat the company on a
8 per cent basis next year. OF the chief active
stocks Erie and Manhattan Railway were the
only ones TO show gains from yesterdays last
ing from Y to 10. per cent. The heaviest de-
clnes were confined to the stocks which nave
recently been accumulated by speculative pools.
4 member Of the syndicate said to-day that lis
managers were satisfied with the general stua-
tion throughout the country and that they were
confident that conditions would soon change 10 an
extent sufficient to bring enough bills into the
exchange market to make lower rates possible
and 10 end the gold-export movement The table
~ EXPORTS for the last week, published in Tne
Tribune this morning. showed an Increase over
the previous week of 81. .40s.0i9. and an increase
over the same week last year OF $SO66sl. but de-
crease from the corresponding week In 1888 OF w.
2l6l5s The outlook Is certainly better. and the
EXPORT movement Of this country's cereals ought
soon 10 reach proportions large enough 10 make
q material difference In the foreign exchange
market To-day's Withdrawals OF gold for export
were 81 100 OO0 and the gold reserve. with this
item and the 33 900 900 syndicate deposit consid-
cred now stands at 500 4607 IT, 1t Is understood
that the syndicate secured part OF the goin de'
posted this afternoon from city banks. and II Is
believed that there will be more forthcoming as
coon az Saturdays Withdrawals have been deter
mined upon. 1t Is interesting TO note In cohhec-