Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-09

monetary situation was the most important
factor in this improvement, and to-day most of
the business done was at 6@7 per cent, though
loans were made as high as in the forenoon
and as low as toward the close. The strength
of the trusts was the feature of early trading.
and later there was heavy drive at the
Grangers, which for a time gave the bears the
complete control of the market. After this
was over. however, the whole face of the mar
ket underwent marked change for the better,
and sharp rallies were in order all over the list,
the covering of shorts being on q large scale
anu the buying for the long account was stlmu-
lated to considerable extent. The London
market was all higher for Americans this morn
ing but the opening here was very Irregular,
and while Northern Pacific was up u Jersey
central vas down per cent.
The trusts early showed considerable
strength, but there was yet a severe pressure
upon .Atchison and the grangers, in which the
coal stocks sympathized, and Jersey Central
made material decline in the early dealings
The full force was brought to bear upon the
Grangers after IL o'clock, and Burlington and
feorla especially felt the attack severely. The
attack upon this stock had the appearance OF
cr1ve to buy upon, and while considerable long
stock came out on the decline there is reason to
pelieve that the heavy lots aimed at, which
nave been accumulated upon the late issue,
were not forthcoming.
The talk of the issue of a large amount of in
come to come ahead of the stock helped to keep
the flow of long stock going. When the press
/
before noon portion of the loss had been re-
gained. The demand from the shorts made an
active and strong market for the time being.
and operators for a rise, who have held aloof
1or some time back, were again encouraged to
again take hold, though their purchases were
made with caution. Chicago turned up as a
buyer of stocks. and this was accepted as evil
dence that the speculative clique at the center
mad changed its position upon the market.
In the upward movement there were some very
sharp advances made among the specialties,
and San Francisco preferred, which had sold
down to SO from 59X last evening, recovered to
o.. Manitoba also continued its recovery and
Oil displayed the most positive strength, and
followed by Sugar material advances were made
before the close of business.
Burlington did not quite recover its loss OF
last nights price. The upward movement con-
tinued throughout the afternoon, and while
there was some taking of profits which carried
some stocks down slightly below the best fig
ures, the market closed quiet and strong at or
near the highest prices of the day. The final
changes are somewhat irregular, but advances
are in majority, and while Canada Pacific lost
"a, San Francisco preferred gained 5, Cotton
On 81, Sugar 25a, Tennessee Coal IL, Northern
Pacific preferred IL, Big Four IL, Missouri
Pacific l per cent, and others fractional
amounts.
Railroad bonds were dull as usual, and pre-
sented weak front generally, though the deal
ings were devoid of feature of interest The
business done amounted to only S7SS, ,O00 and
was without important movement among the
active stocks.
The following table SHOWS tie prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON, Oldest Pittsburg mem
bers Of New York Stock Exchange, 81 Fourth ave-
nue.: