Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-09
Weakness in Chicago Gas Aids in q
Decline.
SALE OF THE new ENGLAND ROAD
Activity in Southern Railway
Stock.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, July 9.-Opening prices
were fractionally improved this morning,
but were decidedly lacking in stability,
further weakness in Chicago Gas facili-
tating pessimistic operations in all parts
of the list The stock named is almost
wholly unsupported, and is, consequently,
used by the bears to promote reactionary
movements elsewhere. 1t is understood that
while. dividends have not been abandoned
for any definite period, none will be paid
during the life of the injunction which so
seriously hampers the disbursement.
Local prejudices private, legal and leg,s-
lative have defeated every attempt to de-
velop this property and the struggle for
control will be less hasty than heretofore
in consequences.
The New England railroad was sold at
public sale this morning under foreclosure
proceedings FOR $3,V0.ao0. The property
was bought in by representative of the
reorganiz ton committee and definite in
formation relative to the future manage
ment of the properly may shortly be eX-
pected.
The stock as usual, was marked UP on
the purchase Of a few hundred shares, but
yielded sharply on any attempt at realiz-
ing.
Southern railway preferred was in good
demand in tie early trading. advancing to
Al Is, the highest point get recorded. Me-
sotiations looking to the sale of a large
block of this stock in London were sue
cessfully completed during the day. The
recent confident feeling among the inside
interests In the property was largely based
on this prospect, but the ful significance
of the transaction has not been reflected
in the price of the stock.
This company Is doing 4 profitable and
steadily increasing business, and is in posi-
ton to take advantage Of any improve
meat IN general trade conditions. Present
prices are satisfactory to those intrusted
with the care of the stock market position.
but any activity is likely to be in the di-
rect:oa of higher prices.
The granger shares were all weak, IN
sympathy with the general character Of
the market at al points of activity, but
trading IN them was largely professional
Sugar sold down 2 per cent on a good vol
ume of business In which long stock fig
ured prominently. Trade conditions are
unchanged. yesterdays prices for the re-
fined product prevailing under strong de-
mand.
The market for foreign exchange was
somewhat easier in Tone concessions of IA
per cent being reached.
The sales of bonds and stocks in London
during the last few days will have a de-
cided influence for good on this market
and will materially aid the syndicate banks
in supplying the demand for foreign ac-
commodations. The repeated attempts to
Influence stock values by reviving rumors
of probable gold exports failed principally
because the real leaders of speculation were
advised OF the relief from the sources re-
Gently disclosed
The market has begun to reflect the pro-
fessional narrowness incident to m.dsum-
mer, and is therefore liable to sudden at
tacks from the room, but actual conditions
do not Justify any material setback in
values. Concessions from now on should
turned to profitable account during the fall
trading.