Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-17
SOME DEEP CUTS
In the Northwest Cause Tumble in Rail-
road Shareholder Disturbing In.
nuences Favor the Benrs--Lower

An the Northwest Cause Tumble in Rail-
road Shareholder Disturbing In
huences Favor the Benrs--Lower
Prices scored all Over the List.
NEW YORK, September l6-The stock mar
Aes Today was weak and declining from open
.ns 70 close, and tonight everything is lower,
though the important concessions are not
epeclally numerous. The action of the other
%. raul lines in meeting promptly the cut by
VIC Onlcago, Burlington aid Northern to-
se'her with the assertions from Chicago that
sne cuts would 60 farther, created q decidedly
pearlsn feeling among the professional ele-
ineht, and in the absence of buying for long
account, vigorous efforts were made to get the
,is' down. The selling apparently began IN
LONDON. as the figures from the center were
materially lower this morning. though there
was no selling of Importance for foreign ac-
count In this market. First prices here were
from q to q per cent lower than Saturdays
ciosing figures, and the pressure upon the
urangers was pretty severe in the early trading.
ihe impression made upon the prices of those
SHARES, however, was in no cases measured by
more than fraction. There was considerable
strength in Louisville and Nashville and New
england. the prospects of an early completion
OF The connection with the Norfolk and West
ern helping the former. The impression made
upon the general list was fractional only in the
forenoon, but later the closing of the Northern
racine books this evening led to selling of that
STOCK and material decline followed. while
sales for cash at a small advance on the regu-
lar way. A rumor was circulated that Sugar
trust had bonded indebtedness of $l6O00,000
ahead of the stock and this led to sharp drop
OF 5per cent in that, though most of the loss
ord TIN onf1
mental, while not active. was weak in sympathy
with Northern Pacific, and is one of the few
stocks showing material decline this evening.
The later decline was sympathized In by the
general list to a greater extent than the earlier
one and the weakness became more pro-
nounced as the day wore along. Norfolk and
western was a marked exception to the rule,
being helped by the same influence which ad-
Vanced Louisville and Nashville. New En-
gland was advanced on rumors that the meet
ing OF the New Haven to-day would result in
some scheme by which New England would be
gamer.
There was further manipulation of Phoenix
mining and it rose from 65 to n and fell back
to the opening price. The close was quiet and
weak generally at the lowest prices of the day.
Ihe entire list is lower, but the losses are gen.
orally fractional, while Oregon Transcontinental
lost III, Canada Southern and Northern
Pacific preferred ~ each, and Sugar Trust
Railroad bonds were duller than they have
been for many days, the sale of all issues ag-
gregating only S645000, while the trading was
devoid of special feature of any kind. No de-
cIded tone marked the dealings and the final
changes in most cases are Insignificant
The following table shows the prices or active
stocks on the New York Stock Exchange yester-
day Corrected daily for THE DISPATCH by
nlh cfrrrr
berS of New York Stock Exchange, 81 Fourth ave-
nue.: