Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-26
ACTIVE AND STRONG.
Railroad Shares Hold All of the Recent
Gains and Little More-News
Entirely Favorable TO the
Rull side


New YORK. October 25-The stock market
was more active and decidedly strong to-day,
and at the close all the active stocks were
materially higher than they were last evening.
The news of the day was almost entirely OF a
favorable character, and the disposition upon
the street was to regard the new traffic agree
ment between the Union Pacific and North
weste IN in a more favorable light, which slim
ulated buying of both of those stocks, and
Union Pacific especially. The bullish feeling
extended to the other Granger stocks, and for
the first time in some weeks that group of
shares was strong throughout, Rock Island
being specially conspicuous in the upward
movement. The buying was done by commits
sion houses, who advised buying for the first
time since the monetary stringency became a
factor in the stock market, aided by Chicago
and London in the afternoon. The shorts COW
cred freely on the earlier condition of money
AID helped theAupward movement to great
extent.
London was seller of Union Pacific to a
limited extent in the early dealings, and this
had. as on yesterday, the effect of checking
the natural upward tendency of the market,
but the offerings were easily absorbed, and
rumors of Vanderbilt's buying of The stocks
soon started it upon the up track. All the
Vanderbilt stocks were strong, and Lake Shore
in particular, though none Of them made any
marked advance. The coal stocks were also
strong, and Lackawanna late in the day took
OF the day. while Reading was the only slug
gard. The Gould stocks, with the single ex-
ception of Missouri Pacific. were rather back
ward, but many Of the specialties made sharp
gains, Denver. Texas and Fort Worth being
the most prominent example among the stocks.
The trusts were prominent in dealings, and
sugar was weak on losses of the trust, and
probable further fall in the price Of its pro-
duct, together with the new opposition. Cot
ton Oil, on the contrary, was strong, the point
to not be short of it being freely circulated,
in Do Qnd ha a
tion that the reduction in the capital would
result in scarcity of stock caused some buy
ing. Sugar recovered on the report that no
decision in the North river case would be
handed down to-day.
The heavy earnings reported and the prom
ising success of the Atchison plan aided in
creating bullish feeling and in the prevailing
ease in money the favorable general situation
was paid more attention to. First prices this
morning were quite irregular and the market
met in the early dealings some selling for Lon
don and Chicago account, which resulted in
slight depression which was helped along by
the weakness in sugar retiDeries. The market
was dull but soon developed both activity and
strength and before the end of the first hour
the list was on the upward move. This became
more pronounced toward noon when sugar re-
covered. and sharp advances in Union Pacific
and Denver, Texas and Fit Worth took place,
which were followed by similar movements in
Cotton Oil. Richmond and West Point, the
Coal stocks and specialtles. There was some
realizing toward the close and a fractional con-
CeSSlOn was maQe IrOIn the Desb III RureS, Dub LnS
close while quiet was firm to strong. The final
changes are in the direction of higher prices.
Cotton Oil is up ~; Lackawanna, 2; Chicago
Gas and Denver, Texas and FIT. Worth, IL;
Rock Island, IA; Tennessee Coal, 15s: North
western, ~; Missouri Pacific, ~; Atchison,
Jersey Central, Northern Pacific preferred, st.
Paul and Union Pacific each 1 per cent.
Railroad bonds were both more active and
stronger, ard firm tone existed throughout
the day, resulting in material advances among
the active issues. The total sales of the day
reached 81, 900, but to that amount Ft.
Worth and Denver firsts contributed Sl3S COO
Erie seconds S4l0, 900 and Chesapeake and Ohio
s. Sll2, 600 There was considerable animation
in the Kansas and Texas issues still and the 70
made marked advance.
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON, Oldest Plttsburg mem-
bers of New YORK Stock Exchange, 81 Fourth ave-
nue.: