Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-25
Chicago Gas Alone Advanced on
Today's Market.
UNION PACIFIC LED TEE DECLINE
Which Was General Throughout
the Entire List.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October 25-Cuban diisi-
culties. extensively enlarged. and Union
| Pacific complications combined IN produc-
ing an extremely feverish stock market
! this morning. In addition to local factors
| OF this character, all London securities
were weak in sympathy with The stiffening
! money rates at that center.
The Bank of England was borrower of
money in the open market. thereby empha-
| sizing the hardening tendency in interest
rates. Early cables reflected concessions
extending to a full point in the American
department, and brought some selling or
ders TO this side.
Opening prices here were substantially
lower and attracted a considerable volume
of liquidating orders. Declines varying
from to per cent prevailed in all de-
partments at the close of the noon hour
Heavy sales of Union Pacific were a fea-
tire OF the trading, rumors of a postpone
ment of the sale and the dissolution of the
REORGANIZATION syndicate adding impetus to
the decline.
Later in the day the syndicate was re-
ported to have agreed upon a complete
granting of the governments claim in order
to insure the sale at the original date.
This announcement. however, was followed
by continued selling, and the subsequent
When 1t is considered that many of the
most conservative interests in the street
have all along regarded the common stock
of this company as an overrated COM
modify. its easy decline, i'm the face Of
obstacles. is not remarkable If the sale
should finally prevail on the date announc-
ed the short interest created today would
undoubtedly furnish the background for a
sharp rise.
American sugar w.ss depressed under
liberal safes, but at the decline the sup
port noticeably better than at other
points in the industrial list with the eN-
ception of Chicago gas. The buying of
the latter was superior to the selling
throughout the day. a gain of Ia per cent
being recorded in the face of a weak mar
ket.
The consolidation Of the various rival gas
companies is said TO be in the same uncer-
tain condition at the close OF the week.
There is evidently something approaching
an understanding on this point, otherwise
the buying today would have been left 20
less consequential interests.
The granger shares were sold in the gen.
eral movement but the decline in this
group was deliberate and without any in
dication of a general lack of confidence. The
situation is not, however, encouraging .
| higher prices in the immediate future
Earnings could scarcely be better, but with
so much doubtful election material at hand
the full force of these arguments must be
| pcstpor ed.
Congress is already having its work
marked out by the guessing element, and
| however ridiculous the conclusions may be,
| they are likely to have their effect in the
present narrow market. The market rallied
momentarily during delivery hour, but i'm
mediatcly yielded to new selling i'm watch
Union Pacific WAS particularly conspicuous