Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-12
WALL STREET EXCITED.
A Big Day in the Stock Market-Bears
Make Raid, but Get Black Eye
Nearly Everything Higher.

New YORK, March Il.-This was the most
active day of the year in the stock market, and
after the first break the market continued
strong until the close, and the stocks of the
active list tonight are almost invariably higher.
The early advices from the other side we're not
reassuring, and the bears with the aid of Lon
don, Chicago, Boston and Philadelphia were
enabled to drive prices down in the early deal
ings, but the cable soon brought better news
from Europe and the scare was reported to be
over there both in Paris and London with a
much calmer feeling. The buying for the long
account then began, and the sellers OF the
early hour turned buyers, which soon induced
a free covering of shorts and upward move
ment which was inaugurated and lasted until
the final close of business.
Boston, Philadelphia, Chicago and London
we're large purchasers and all the prominent
stocks felt the stimulus, rising over point
from the lowest figures before noon. Reading
and St Paul were conspicuous for the pressure
brought against them in the first drive and
there were several large lots of the former sold
which were believed to be for the insiders, but
it was among the first to recover when the re-
action came. The announcement that the
roads west of the Mississippi river had per
fected an agreement to maintain rates which
stated as SO strong that no road could long re-
main out, was marked factor in the late trad
ing and the roads in that section of the
country became prominent for strength at the
close The news of the day other than that
from Llo QUIET SluC Was uOl VI bpCCLdl v
ance and there was marked absence of the
usual pessimistic advices from Chicago.
The market opened very active and decidedly
weak most stocks being from a to " per cent
lower than on Saturday evening: The Coal
stocks, Grangers and Union Pacific showed
most weakness in the early dealings, but in
none of these were the first decline supple
mented for more than fraction. Michigan
Central, however, dropped over a point. The
losses in the rest of the list were confined to
the smallest fractions, and by the end of the
first half hour the decline was checked and
prices rapidly recovered, most stocks showing a
gain over first prices by the end of the hour
The rise, however, continued without check
until nearly noon, with Lackawanna and
Chicago Gas most conspicuous in the rise.
Comparative dullness then overspread the list,
but prices slowly advanced without any special
feature until the close, which was active and
strong at the best prices. Pullman scored net
loss Of per cent but the rest OF the active list
is almost invariably higher. Burlington and
Quincy rose ~ Manhattan IL and Atchison
per cent
Railroad bonds were very quiet all the ami
nation impaired to the dealings being from the
activity in the Reading issues, and the second
incomes furnished $206, 900 to the days total OF
81, 95l, ,00O. The market, sympathized with the
weakness in the share list at first, and while
there was better tone later in the day, most OF
the improved changes this evening are in the
direction of lower figures.
The following table SHOWS the prices of active
stocks, on the New York Stock Exchange.
Corrected daily for THE DISPATCH by Whit
new d stephenson, members of New York
Stock Exchange, 81 Fourth avenue: