Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-05
BEARS ON TOP.
sfringency In Money Gives Them Chance
TO Do Some Hnmmering-Cotton OIL
and Sugar Trust Let CO.
-Hsaxx ns.u linaa.

and Sugar Trust Let CO.
Heavy Dealings.
NEW YORK. October Again the money
question with the weakness in the trusts were
the great influences which dictated the course
of the stock market to-day. Before the OPEN
ing of business at the Stock Exchange IL was
known that S5000O0 more gold had been or
dered for export by to-morrow's steamers; ana
1t being Friday, when all loans on call noio
over until Monday, which induces many instl-
tutions to keep of the market considerable
sums Of money, the money market was
stringent and 10 per cent was paid for accom-
modations. This created bearish feeli7g
among the traders, and with the bears tney
made violent attack upon the trusts as llKeiy
to be most vulnerable.
Cotton Oil was paid most attention to at first,
and there was still great deal of discrimina-
tiUn against those shares. Large amounts OIL
long stock came out to help along the drop.
There was absolutely NO support to any OF
these stocks and Cotton Oil was sufferer
from assertions that the price OF their com
modify must come down. The extreme decline
In 1t reached 5 per cent, but later sugar came
along with drop of over per cent.
Considerable pressure was brought to bear
upon many stocks in The regular list, but only
in Atchison was there any real impression
made and it declined only ~ though it touched
the lowest price in the his ory OF the company.
In CD0 AFTERNOON some OF Lue speCidilco ylciuCu'
and Louisville and Nashville went OF ~,
Manitoba 2 and Delaware and Hudson, Pull
man and some others became prominent for
weakness. Chicago Gas was also attacked at
this time and drop of per cent was scored IN
it, though the greater portion OF this was re-
covered as most OF the sales in it were short
contracts.
Stock ceased to come out toward the middle
of the afternoon, and the shorts went In TO
cover, coy,er which caused smart smart rally, lily,
cent and Cotton Oil nearly as much.
with the others in proportion. Burlington con-
tinued to display most marked strength and
led the stocks of the regular list, though Man
haitian was especially strong n the last hour
and fully recovered Its early loss. Money also
eased off toward the close, and from IL per
cent it declined to and closed at 4. The close
was quiet and firm with the stocks of the regu-
lar list within small fractions of last nights
prices and the trusts materially higher than
their lowest figures.
The magnitude of the trading in the trusts
may be gathered from the fact that while the
total transactions in listed were N6904 shares,
the transactions in unlisted stocks footed up
l90, 400, of which Cotton Oil contributed 1000.
Sugar rs $50 and Lead q, ,0l3- In the first hour,
however the trading in the trusts was about
5000 shares more than the business in railIo
stocks. The general list tonight is irregularly
changed for small fractions generally and the
only marked changes were declines of AZ in
Sugar, 2A in Cotton Oil and u in Manitoba.
The activity and weakness In the share list
seemed to have no appreciable effect upon
bonds and they were still dull. with little or no
feature to-day. though the tone OF the market
was generally rather heavy. The sales reached
S706 600.
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
bers of New York Stock Exchange, 81 Fourth ave-
nue..