Evening star., 1895-01-14
Liberal Sales Of Chicago Gas Force
Prices Down.
A DECLINE ALSO IN SUGAR TRUST
CoaIers Conspicuous Features in
the Regular List.
MARKET REPORTS
spec,al Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. January 14.-Activity dur
ing the first. hour of speculation centered
largely in Chicago Gas, liberal sales OF
which forced the price down II per cent
from a weak opening. The closing Of the
books for the dividend, while used as an
excuse for the depression, was a subordi-
nate influence only, internal complications
in the matter Of today's elections being di-
rectly responsible for the action Of the
stock. AS later developments proved,
the question of voting certain proxies in
the interest Of the new management called
forth such violent opposition from the
friends of the old board. who quoted the
opinion of Attorney General Malowney in
support of their position, that final action
was postponed.
The absence Of a quorum resulted in the
adjournment of several of the meetings of
the, individual companies composing the
trust. Early knowledge Of the probable
ceedings caused selling for the accounts Of
both factions. with the result above men,
toned. Authorities on the situation are
confident that the new interest will finally
triumph, and that last weeks best prices
will be eclipsed before the month is out.
About the no on hour some covering of
early sales was instrumental In restoring !
per cent Of the mornings loss. The scar
Gates the presence of a large-sized short in
terest yet to be liquidated.
Sugar sold down IA per cent on selling
by the trading element based on the con-
tinued Withholding of the Supreme Court
decision in the antitrust case. Buying
orders later In the day marked up the
price 1-2 per cent above initial figures.
General Electric gained some strength
from the absence of an expected decision
in an important action affecting the lives
of some Of the companys best patents.
In the regular list the coalers were again
conspicuous features, Delaware and Hud-
son selling up l per cent, Lackawanna 2
per cent and Jersey Central 1-2 per cent
en- fair volume of business. The i'm
pending negotiations in the interest of
unity and the establishment Of a working
basis for the present year. The grangers
were all improved from IL to "a per cent
tions, which originated from the necessi-
ties Of the short interest. Action on the
pooling bill Is awaited with considerable
interest by the street. as the next spurt
be based on the fate of this measure. At
present opinions are somewhat conflicting
as to the probable result OF the vote In the
Senate.
The exchange market ruled firm, with
rates somewhat higher than those quoted
last week. The supply of bills continues
small the absence Of drawings against
gold shipments being conspicuous fea-
ture Of this market. No gold was taken for
export tomorrow, but surface conditions
point to probable outflow during the
week of upward of s2OO0.OO0. Bankers do
not consider shipments to London likely
for the present. although rumors Of such
possibility have beeq in circulation for
several days past.
The trading of the last hour was dull,
around the best prices of the day. There
were no new developments, the absence of
any pressure to sell and the room being
disinclined to further increase the short
interest gave the market an encouraging
tone of strength,