Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-22
STOCKS LET GO.
Tight Money Gives the Bear Crowd n
Chance to Get in Their Work
Trusts and Changers the
princinal SufferePs.

| NEW YORK, October 21.-The stock market
was more active but decidedly weak to-day, and
the declines were very material, reaching all
portions of the list, although Trusts and Grang-
ers are the principal sufferers. A variety of
| causes contributed to this end. though the per-
| sistent attacks of the bears under cover of the
| high rates for money, were most etfectual In
| bringing about the downward movement. To
aid them this morning there were not only
decided opposition to the Sugar Trust by
Spreckels, but the publication of the statistics
of the coal trade for the expired portion of the
year and the late decreases in the earnings of
the Grangers.
New cuts in rates by the Burlington and
| Northern and some opposition to the Atchison
| plan which has developed in London were also
unfavorable factors. The opening Of the mar
| ket-was tame and heavy, and the bears imme-
diately began the attack, paying special atten-
ton to Sugar, Cotton Oil. Lackawanna, Rock
| Island and Chicago Gas The traders lent their
| influence to the bears, and there was undoubt-
| edv considerable long stock dislodged, while
the uncovering of several stop orders accel-
| Grated the drop.
The pressure upon the coal stocks was es-
peclally severe toward noon, but later the at
| tention was transferred to National Lead and
| Missouri Pacific. Among the specialties, how
| ever, Tennessee Coal, Manitoba, Delaware and
Hudson and Jersey Central we're most tconspicu-
Gus for the declines established. There was
later some opposition offered to the decline by
| covering of shorts put out earlier In the day.
| and money also eased up. dropping TO 6per
| cent against IL during the early demand. The
| improvement, however, was of small proper
| tions and the market, while becoming some
| what Quieter, made no rally of importance ex-
cept in Jersey Central, which here covered
about all of the loss.
The market closed quiet but heavy, at some-
thing better than the lowest prices. The entire
active list is materially lower this evening The
most important declines were Sugar x, Della
ware and Hudson 234. Manitoba 2115, Lead and
Cotton each 21s Cleveland Columbus, Clncin-
natl and st. Louis and Burlington each lE
Lackawanna ~, Transcontinental 15s. Mis-
souri, Pacific preferred and Lake Erie and
| Western preferred ~ each, Missouri Pacific
| 1%, Northwestern and Lake Shore each N
| Reading st. Paul and Chesapeake and Ohio
seconds preferred each 11S Rock Island and
Union Pacific each per cent and the others
fractional amounts.
The Posts financial article says: 1.-THE whole
stock market was active, weak and lower
throughout the forenoon, and this time it was
not the money market which caused selling
but the realization of the fact that the most
important grants of stocks, the Ooalers and the
Grangers, do not afford as iattering prospects
in the matter of earnings as they did some
stocks were attacked by bears or not. It is
quite certain that they were widely held and
by the uncovering of stop orders all went down
easily, carrying the rest of the market with
them.
Railroad bonds were dull as usual, the sales
of all issues aggregating $780, 900.
The following table SHOWS tine prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
bers Of New ork Stock Exchange, 81 Fourth ave-
nue.: