Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-12
BUSY BEARS
Again Try Their Tactics on Railroad
Shares, but With Small success-
The Money Scare Made to
Ia D0uhIe DutY.


Do Double Duty.
NEW YORK, November 1.-THE stock mar
ket was feverish and irregular on very moder-
ate volume of business to-day. and while stocks
as rule were well held the bears attacked
some spots with such vigor as to force a
material decline. The unfavorable bank state
ment Of Saturday had its full effect this morn
ing and the fear of tight money did induce
some throwing over of long stocks by weak and
timid holders, but the passive resistance to the
pressure brought by the bears forced them to
desist after only small results were accom-
plisned. The foreign operations to-day were
Insignificant, but there was good buying for
Boston account especially in Atchison, though
the market for the most part was local affair
to-day.
The early drive was made against Lacka-
wanna, presumably with the intention Of dis
lodging some Reading, but the attempt was a
failure and attention was turned to the Grang-
ers, and st. Paul in particular felt the pressure
severely. There were numerous rumors set
afoat in regard to the stock, and the story of
the accumulation of floating debt Of 8, 600, 900
was most prominent among them. Missouri
Fac1hc was also later made the object Of raid
which was more successful than the one upon
81 Paul, the effect of which was combatted by
which were the largest for that week in the
history Of the company. The market, however,
was not without its strong spots, and Atchison
early showed remarkable strength, while Jer-
Sey central for the first time in many days raj
lied materially from its late depression. Among
the specialties Manitoba was conspicuous with
rise of over 2 per cent, followed BY Hooking
Valley and Ontario and Western.
The trusts were again strong, though they
were quiet to dull. and failed to retain all of
aOYonna n1ada n
nessee Coal was especially weak in the first
hour, but recovered most Of the loss later in
the day. There was an attempt to work again
th9 money scare, and money did work little
closer, though most of the business was done
at about the legal rate. The opening under
the influence of the bank statement was heavy,
and was followed by further fractional losses
all over the list. A smart rally followed, but
the list was inclined to droop all the forenoon,
Notwithstanding the strength in the trusts and
speclalties. Dizziness became the most promi-
nent feature of the market in the afternoon,
but St Paul and Missouri Pacific were raided
to some purpose, while the general list showed
Q tendency to recover the slight losses Of the
forenoon. Another raid was made about de-
livery hour, and considerable impression was
made upon prices but the market closed fairly
steady, generally at small fractions from the
opening prices. The only changes of import
ance tonight are advances of 21S in Manitoba
and u in Jersey Central, and decline Of ~
in Missouri Pacific.
Railroad bonds were again active with gen.
orally firm tone. There were few features of
special interest. The Gulf of Colorado and
Santa Fe issues were strong, though their
final changes were Insignificant, and the firsts
contributed S23S,0OO to the days total of 81 943,-
600. The Reading first incomes were also
active. with $4,000, and the Chesapeake and
Ohio fves contributed S106 900. The final fig-
ures generally show slight advances.
The following table SHOWS the prices or active
stocks on the New York Stock EIcnange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHENSON. Oldest Pittsburg mem-
bers Of New YORK Stock Exchange. 81 Fourth ave-
nue.: