The herald., 1897-04-14
ON CHANGE
What Was Done Yesterday on Wall
Street

NEW YORK, April 13.-The stock mar
ket today showed dullness and apathy
through the early hours Of trading though
there were indications of firmness in the
general list. The center of interest in the
market all day was Reading. the sales of
trust receipts aggregating 1900 shares and
all the securities of the company being ac-
lively dealt In at declines. The numerous
liquidation in Reading was attributed to
the sale of stock acquired by the UNDER
writing syndicate on account of non-pay-
ment of assessments, which was unloaded
in large blocks, 1000 share lots appearing
quite frequently in the transactions. In
spite of these heavy offerings. the decline
ceased with loss of Ia and rally set in
on the stock The support accorded the
stock was credited to a leading interest in
anthracite coal. Under this buying the
price rose'two points to 1875, with only a
slight reaction at the close. Though the
early selling acted as a check on the mar
ket by discouraging dealings, the general
| market and even the fellow properties in
the anthracite group wer not at first affect
ed in price by Readings weakness. There
was good inquiry for New Jersey Central,
apparently on feeling that the stock had
been oversold, and the prices advanced.
There was a reaction in the coalers later
induced by the persistent selling in Read
ing. Susquehanna & Western preferred
losing 11a; Chicago Gas yielding sharp
fraction and some stocks in the general
lSI also showing some SliSHt LOSSES. 4 ell
nessee Coal & Iron was another stock that
suffered from depression in the early deal
ings losing ~ on fears Of the companys
business being hurt by the low price of
Lake Superior ores. But by midday the
first symptoms of a rally manifested them
selves In the improved tone of the coalers,
under the influences of the news of Mr..
Little's favorable report on the condition
of the Lehigh Valley. in connection with
the sale of the bonds of the company
which will result in bringing the control
into closer harmony with the other coalers.
Other influences gathered to assist the
rally. The completion of the profit taking
in Chicago Gas was followed by renewed
buying of the stock and an upward jump
on very large transactions. There was
lull in the activity before the close but no
important reaction In prices. Chicago Gas
gained until II over the low level, and
sugar, General Electric, Leather prefer
red and Rubber preferred from l to 2N.
Burlington led the grangers with an ad-
vance of TX. New York Central rose IL;
Omaha, 1ss, and G. &C. & ST. L.. rs. or
the coalers. New Jersey Central advanced
rs; Reading, q ditto first preferred, 21s;
Lackawanna, /; Delaware & Hudson 1%,
and Susquehanna r. Western, tx; Tennes-
see Coal & Iron. Consolidated Gas. West
crn Union and Brooklyn Union all rose
over point and fractional gains were gen.
eral throughout the list. The closing was
strong and showed net gains for the most
part
The bond market displayed an improved
tone and slight gains were generally regis
tered in the principal issues. Business was
fairly moderate and a more extensive va
riety of mortgages were dealt in, with some
of the gilt-edged lines moving up sharply
bonds lacked feature but held firm on deal
ingS of SlS500