Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-23
ACTIVE. AND LOWER.
of values-Weakness Affects the Entire
Lisf-Heavy Failures and Rate. Cut.

Stocks Improve In Business, but at Loss
of Values-Weakness Affects the Entire
Lisi-Heavy Failures and Rate. CUT
ting the Disturbing Elements.
NEW YORK, August 22-The stock market
was more active to-day than at any time for
weeks. and at the same time displayed de-
cided weakness in tome which resulted in ma
terial losses all over the list scarcely any OF the
active stocks being less than per cent lower
than last evening. The influences which had
bearing upon the market this morning were
all OF an unfavorable nature. such as the recent
heavy failures. further cutting Of rates in the
west and Northwest. the utterances OF Chair
man Walker and Judge Cooley, the former ex-
pressing the situation as deplorable in the
Northwest, and general fear of tight money.
The traders made the most of the oppor-
tunity, and with the first sales Inaugurated
vigorous attack upon the list, the Grangers and
Coal stocks being the principal sufferers, and
the opening prices from u toT per cent lower
than last nights figures. The market, under
the pressure to sell, which included. without
doubt considerable long stock, yielded rapidly
In the early trading. and Jersey Central and
Cleveland, Columbus, Cincinnati and st. Louis
led the decline, which. however, died away
toward the end of the first hour, when dullness
followed and slight recoveries were made.
After noon the pressure was resumed with
force, and all the Grangers, Missouri Pacific,
Union Pacific, Cotton Oil and Sugar became
prominent for the weakness displayed; but
later they were all surpassed by the Chicago
and East Illinois preferred and Chesapeake and
ohio first preferred, which lost about 3 per
cent each. Lake Erie and Western preferred;
Lackawanna and Sugar Trust and afterward
ST. Paul and Missouri Pacific led the decline,
which reached its limits in the last hour only
when money had been run up TO per cent
Ihere was sharp reaction in the rates for
money, however, and they ran off to 81 per cent
at the close, which induced some buying prin-
cipally for the short account.
The outstanding short interest was largely in
dation of long accounts. The trading, however,
did not lose its professional character. The
close was fairly active and weak generally at
the lowest prices Of the day. The earnings Of
the Northwestern for last month served to re-
strict the decline in that stock but had no ap-
Preciable effect upon the remainder of the list.
The entire list 10 lower tonight. Chicago and
and Ohio ist preferred, 5; Lake Erie and West.
ern preferred, and Missouri Pacific. ~; Chicago
and East Illinois. Rock Island and Chicago Gas,
~; Sugar, 2; St. Paul and Cleveland, Columbus,
Cincinnati and st. Louis, 1E; New England, ~;
Burlington, Jersey Central, N Northwestern, Ore
gon Transcontinental, IL; Wheeling and Lake
Erie preferred. 1ss: Chesapeake and Ohio, Nor
preferred, and Wabash preferred. "; Lake
Shore, and Louisville and Nashville ~, and
Canada Southern, Lackawanna, Northern Pacif-
ic and Union Pacific, per cent.
Bonds responded to the furry in stocks by q
little more animation, the sales reaching SSH
000 but the weakness in stocks was not sympa-
thized in to any extent. though the firm tone
shown of late was missed and the important
final changes were smaller in number. Burling-
ton, Cedar Rapids lists lisr at 9s; Kentucky
Central As ~ at IS.
The following table SHOWS the prices OF .etivs
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHKNsoN. oldest Pittsburg mem
bers of New York Stock Exchange, 81 Fourth ave-
nue.: