Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-03
STOCKS BULLISH
In Spite of Tight Money, but They Give Way
a Trife on Reports of Heavy Ship
ments of Coda Firm CIose.


NEW YORK, October 2-The bullish feeling
in the stock market was quite pronounced this
morning. Notwithstanding the condition of the
money market, the shipment of gold and Lon
don figures coming higher. and the foreign
houses being liberal purchasers. the confidence
in the immediate future found expression in
higher opening figures, and on q moderate
business further advances in the early
dealings. The improvement in the OPEN
ing prices over last evenings figures extended
to e per cent, though Wheeling and Lake
Erie preferred was exceptional with a loss
of T per cent, at 7O54. The dealings were
rather restricted, however and Atchison, Read
ing, Louisville and Nashville and St Paul
with Sugar refneries monopolized the greater
portion of the business done.
The bullish feeling was most pronounced in
Atchison and it rose per cent in the first half
hour, with the rest of the list following. 1t
was then announced that another half million
gold had been ordered for export by the Bel
monts, and the buying was checked. 1t was
asserted that the amount to go out would
be made up to s., 100000, and though there was
no means of verifying the story. 1t made a very
bad impression upon the room, and a reaction
was in order, which, while there was no pressure
TO sell soon carried prices down to below the
opening figures
The money market ruled tight at from to
1O per cenr, but there was plenty of funds at the
rates. Dizziness became the leading feature in
the market, and prices remained stagnant
until the afternoon. when an attack was made
upon New England by the BEARS which re-
tires that stock to 49, loss of 13s per cent from
lts opening figure. Manhattan dropped per
cent on the gold shipment some stop orders
being uncovered, but when these had been ex-
ecuted the recovery was rapid, though all the
loss was not regained. Manitoba was srrong
throughout, and the story that 1t is getting into
the hands of an English syndi cate obtained
some believers.
The money market eased off materially in the
last hour, and rates went down to per cent, at
which it closed, and the buying showed itself
again with the result of developing strong
tone once more, and prices again crept up
ward There was no special feeture however,
and the close was quiet and firm at close TO
the opening figures. The list is generally
slightly higher this evening, while Sugar is up
"a, Manitoba 2, Canada Pacific ~, and Pull
man u.
Railroad bonds were somewhat more ami
mated to-day. and the sales went up to S87S-
600, out of which $l02, 900 were in Nickel
however, and the final changes are about
equally divided between gains and losses. Be.
side the bonds mentioned, the Fort Worth and
Denver lists, the Louisville Southern lists, and
the Chesapeake and Ohio IS were prominent in
the trading Among the advances Delaware
and H udson, Pennsylvania dividend coupons
rose to lA and South Carolina lists Ok to l01
Ohio, Indiana and Western lists lost 2N at BOZ. |
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DIsP1TCH by
bers of New York Stock Exchange, 81 Fourth ave-
nue.: