Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-24
FAVORABLE NEWS
Causes n Little Boom In Wall Street.
Hooking Valley and the Sugar Trust
Recover some of Their Losses

Other strong Fentures.
NEW YORK, July 23-The stock market to-
day during the first and last hours displayed
more animation with more decided tone than
1t has done for weeks, and under the influence
of more favorable news and good buying for
both sides of the account material advances
were scored in all portions of the list The for
eigners we're again buyers in this market, and
the amount of their purchases is stated at 40,-
600 shares, while the covering of shorts was on
liberal scale.
The bears for the time being were doing little
and the absence of the usual offerings of stock
set some of the smaller traders and bears to
covering their shorts, which had the effect of
opening the market up from Is to q per cent
while in the early dealings considerable of a
squirt was made, almost everything moving up
fractionally further. Atchison was the only
marked exception, and it retired u per cent
The movement was explained by the fact that
some of the shorts wished to get back their
lines of the stock at lower figures and rumors
that the company would be compelled to pay
about $4,000 for damages in Chicago helped
sbs bong the eOr5 TO get 1t do"n Jn0 stocks o. o.
Louis early became the strong feature. and the
common especially moved up over per cent.
In the general list, however, Missouri Pacific,
Union Pacific, Northern Pacific preferred, and
the Chesapeake and Ohio stocks were allsre-
markably strong and the latter later in the day
became feature. The report was that Drexel,
I.
ton 100, 900 shares of the stock, and the in
ference was that 1t was for the Vanderbilts,
who would then have control of another
through line from the Atlantic seaboard to the
west. After the first demand was satisfied the
market became intensely dull and prices, as
usual, sagged off slowly and many stocks re-
tired to the neghbofhood Of the morning
figures.
The buying began again toward delivery
hour and a sharp upward movement was made,
which again reached all portions of the list and
Burlington crossed par and special movements
were made in many stocks The most marked
were in Sugar Trust and Hooking Valley the
latter being due to the circulation of a report
that committee was to be formed to keep the
road out of the receivers hands.
The market finally closed with afsirly active
business and strong and the best prices of the
day. The entire list Is higher. Cleveland,
Columbus, Cincinnati and st. Louis rose 2N
Sugar ~ Hooking Valley 81, Rock Island lsSS,
Chesapeak and Ohio first preferred 2 North
ern Pacific preferred 1ss, Union Pacific IL,
New England, Northern Pacific and Reading
~ each, Chesapeake and Ohio, Burlington and
Quincy, Louisville and Nashville Lake Shore
Missouri Pacific and Wheeling and Lake Ere
per cent each, and others fractional amounts
Railway bonds were firmer in sympathy with
shares, but the market was dull, the sales only
reaching 98S, 600, Reading contributing 149 600.
The feature of the day was the Hooking VAL
ley, which rose 2ss.
The followine table SHOWS the prices of active
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.: