Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-02
GOOD GENERALSHIP
Prevents Bad Slump in Railroad share
as a Consequence of the Jump in
the Rates for Money

NEW YORK, October 1.-The stock market
maintained about the same volume of business
to-day in the regular list, but the unlisted de-
partment was much less active, while the weak
stocks of the past few days were more quiet
and moved within comparatively narrow limits.
and the range Of prices in most stocks was ex-
tremely small. There were few features of in
terest in the transactions but considering the
high rates exacted for money the market was
remarkably well held and shows conclusively
that strong hands are in possession of the stocks
in this market. Money on call to-day loaned as
low as and as high as 1S but there was de-
cidedly easier feeling at the close of the busi-
ness. The dealings to-day were smaller outside
Of those of the professional element. and while
London houses were sellers to limited extent.
Chicago people were doing almost nothing and
the traders were beariSh for turn. There was
no pressure to sell in any portion of the list and
while the traders did SOME hammering they
brought out very little stock, though there was
again some liquidation induced by the scarcity
OF money and the engagement of $500, 900 gold
for export had for time depressing effect
upon prices.
Atchison was still the central figure in the
market, and although the covering of shorts in
the stock has been very heavy during the past
few days, the short interest is still of respect
able proportions, and to-day the stock was sold
on the advances, and showed evidences of sup
port on the declines. It is said that large
speculative interest has begun to buy it for
turn, but the principal reason for the steadier
tone to-day was the payment Of the October in
terest. The coal stocks were not SO strong, and
Jersey, after selling up to 131, settled back to
1271 on the marketing of block of stock. The
Grangers were attacked upon the report of the
Burlington for August, which was not SO favor
able as had been expected. Manhattan was the
one positively strong feature of the day. and it
rose to 1861 and closed at los on what appeared
as manipulation. Pullman was also specially
strong on western buying, and the remarkably
good statement of the Louisville and Nashville
did much to support that stock. The export of
to the street, and no explanation was to be had
at the banking house which ordered it. and the
effect upon the market was depressing in the
extreme.
The opening prices were generally lower, the
declines from last evenings prices extending
to q per cent and while the first few minutes
saw a declining tendency in prices led by
Atchison, full and decided recovery took
place. with Manhattan leading the upward
movement. The reactionary tendency ap-
noon all the early gains were lost. the Changers
being the special point of attack and Man
haitian dropped per cent. Toward the close.a
better feeling existed as money gave signs of
though still at small fractions below the OPEN
ing prices The list is generally lower tonight,
but there are no important declines, while
Manhattan rose ~ and Pullman 2 per cent.
The trading in railroad bonds was still
smaller than the limited business of the past
few days, reaching only 5000, 900. The market
was steady to firm as usual, and the changes in
quotations were confined to the same narrow
limits. Iron Mountain, Arkansas rs, rose to
1861.
The following table SHOWS the prices OF active
stocks on the New York Stock Excnange yester-
day. Corrected daily for THE DISPATCH by
bers of New York Stock Exchange, 81 Fourth ave-
nue.: -