The daily morning journal and courier., 1895-06-29
Et1ranc9a1.
The Early Trading on the Exchange Was


 The Early Trading on the Exchange Was
 Characterised by Firmness.
 New York, June 2S.-The early trad ing at the stock exchange was charac- terized by great f1rmness, commission houses having been in the receipt of good orders to buy the railway list gen. orally, the agreement reached by the trunk line presidents to restore rates July 8 and the advance in the prices of anthracite coal having made a mum Der of bulls. London was also a buyer of American securities and this contrib uted in no small degree to the rise of AD2% per cent. which took place in the first hour of trading. The agreement arrived at by the trunk line presidents yesterday, according to those in a posi- tion to know, will have a far-reaching influence on American railway securi- ties generally, and more especially in Europe. Just before o'clock a tremen- dous selling movement started in the in- dustrials, and these issues broke from 1 to 7ss per cent. Tobacco dropped 79s to 1O7, Tobacco preferred to 113, Sugar 5% to 1O62s, Chicago Gas 4 to 62, Lead 31l to 311s, Rubber 1z to STA Rubber pre- ferred 11s to 91ss, Distillers 2 to 19ss, General Electric 29s to 34as, Burlington and Quincy 22s to 83, and the general list anywhere from II to 194 per cent
 The slump was attributed to liquida- tions by an ex-member of the stock ex- change, who has taken quite a promi- nent part in the recent bull movement in Sugar. The operator in question ab- solutely denied the truth of the reports and as matter of fact he honored puts" on Sugar at 1161a which expired in the last hour of business. Rubber was sold on the publication of the no- tice by the governor of the exchange that the stock will be stricken from the list unless the company complies with the rules of the exchange and files a re- port Of it's condition. The company, it is said, Is preparing a statement and will hand it in shortly.
 While the industrlals were in a state of demoralization, rumors were rife of shipments of gold. The strength of the sterling exchange rather lent color to the rumnr. It can be statel or tXcol- lent authority that the powers which have controlled the gold and sterling exchange markets since the beginning of the year have no intention of per- hitting an efllux of the yellow metal at this time,
 In the afternoon when the unfavora- ble rumors referred to failed 10 ma terlallze, the market recovered and prices moved up | to 53s per cent, the industrals leading. New England was exceptionally weak att this lne and dropped to 46, a loss of per cent. Lat CT the stock rallied ta=471s Nd new reasons were assigned for the break in the stock It is quite generally bellev- ed that New Haven interests control the property and that the price of the stock will settle back to the thirtles be- fore long.
 The market closed firm in tone Net losses In the general list ranged from M to 5s per cent. The indus trials how ever, lost 101% per cent, On the other hand, Northwest and Louisville and Nashville gained 4 and Tennessee Coal and Iron 21s per cent.
 The bond market was easier in tone. Sales footed up 1490,000
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 46 Broadway. New York and IS Center street, New Haven: