New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-30
CLOSING PRICES OF PHILADELPHIA STOCKS
LOSING PRICES OF CHICAGO STOCKS.
ON THE STOCK EXCHANGE.

Tuesday, October 29-p. m.
Large dealings In stocks confined to
few Issues in which declines were forced by
speculative liquidation. The rest Of the list de-
veloped little activity, and prices were unfavor-
ably influenced by the declines In the leaders.
With the exception Of Philadelphia and Reading.
the chief business Of the day in the indus
trial shares. but transactions in Reading were
the heaviest on the list. amounting to more than
10000 shares. The stock broke "a per cent on
liquidation, induced by reports Of the forth
coming reorganization plan, which. according to
current rumor. will provide an exceptionally
heavy assessment The junior securities may be
compelled to submit to very severe penalties,
and IT was reported to-day that foreclosure pro-
ceedngs would be the next step in the reor-
ganzation, and that the announcement OF the
plan merely awaited the foreclosure decree. The
break In Reading had an unfavorable influence
upon the rest Of the anthracite list Jersey Cen
trial. however, being the only one to suffer to
any extent. The reasons put forth to-day FOR
decline in Reading included foreign selling, dis
agreement among the reorganizers. foreclosure
proceedings and a heavy assessment but none
Of them appear to be Of sufficient weight to
cause any uneasness about the company. and
the assessment report Ia the only one worthy OF
any particular attention. Even this should not
Il
stock. for 1t has been known for a long time that
a heavy assessment would be made, and. more
over, the success Of the reorganization depends
upon such course. The main trouble with the
stock to-day came from what might be called
moderate decentralization caused by the efforts
of the industrial manipulators to shake prices
The strength Of the foreign exchange market
and the fear Of gold exports make the time pro-
pitious for decline. and the opportunity Is
being taken advantage Of although with dis
appointing results IN the standard shares
Gas Distilling and Cattle Feeding. General Elec-
trio and United States Leather furnished the
bulk Of trading, and losses in them ran from to
3 per cent. while all manner Of rumors were put
forth by the bears to help the downward move
ment along American Tobacco was not favor
ably looked upon account OF the supposed loss
OF revenue incurred by its fght with the plug
tobacco manufacturers. The greatest loss In the
day was suffered by Erie Telegraph and Tele-
phone. which on small sale. broke IL points
No one appeared 10 want the stock. and In the
absence Of supporting orders the price was
marked as low possible. but subsequent small
buying orders restored good part OF the early
loss The stock acted like freak and apparently
was endeavOrng to Guido the record breaking In
dustrias Ike Sugar Gas and Tobacco. although,
as the company Is considered an investment
property In a hourishing condition. there was no
reasonable excuse for the violent decline.
The report of the Chicago Burlington and
Quincy for September may have caused some dis
appointment in not showing an Increase as large
as that OF st. Paul but. nevertheless. It's showing
was favorable, the Increase In net earnings being
over 1864 900. All the Changers were lower and
the general railway list down fractionally.
| The declines In the standard shares were not
easily brought about, and final prices showed the
| industrial shares and the Reading the only SUI
| ferers Foreign exchange is creeping dangerously
near the gold shipping point. but ii is believed
| that there is enough exchange on hand 10 meet
| requirements. and that like last week and the
week before II is being held for top figures. The
| demand Is not heavy The value Of exports Of
merchandise for last week reported to-day
showed falling Off Of over q 900 600 and I'm cot
| ton the exports were less by about 100000.
Closing prices Of the principal active stocks,