Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-01
.S., gSn5sa avenue. Member. New YORK stock n1-
THE TRUSTS ATTACKED.
Cotton Oil Knocked silly by Batch Of
DisaEreeabIe Rumors-Lead Holds
Its Own, bur Sugar Takes
Ouffa Tumhla

NEW YORK, October 81-The stock market
to-day was quiet for the regular list, but active
Tor the trusts, and. while the former presented
firm front, decided weakness prevailed among
the latter Cotton Oil was the great feature of
the day, and, while the traders were the princi-
pal sellers early in the day, well-knOwn firm
began to sell and was followed by others, which
gave the room the impression that some large
interest was unloading. and there was a rush to
sell from all portions of the room. and the mar
ket was taken away from would-be sellers be-
fore their offers could be heard.
considerable excitement attended the deal
ings in the stock, and for time there was little
else traded in, while various rumors sprang
into existence, chief among which was one that
the annual report to be issned soon would show
about 81 600 900 less earned during the past
year than generally expected. Others related
70 trouble in the matter of tho corporation
scheme, selling by large interest, and the
forcing of a large block of the stock upon the
market by tight money, but whilc many Of
these were contradicted, others were left with
out an answer.
The stock opened at Az against Al n last
evening, and was forced off by the sales of the
traders to about 40 from which it had slight
recovery. The real selling of the day then be-
gan and its price was soon dropped to 381s, but
dropped to 361z, the lowest of the year. The
oen1als OF the rumors made themselves felt at
this point but the selling seemed to have ex-
hausted itself and ia material rally occurred,
a.
at 81. OF the other trusts Lead was quiet and
comparatively well held, but Sugar weakened
close.
Among the listed stocks there was no move
ment OF Importance except the sharp advance
OF nearly per cent in Tennessee Coal in the
forenoon and smaller gains in Denver, Texas
and TT. Worth, and a decline in Lake Erie and
Western preferred The trading in the regu-
lar list was confined almost entirely to the
traders, ana the fluctuations with the few eX-
ceptions noted we're for the smallest fractions,
and while there was general upward tendency
exhibited it was held in check by the weakness
in the trusts
The close was generally dull but firm at close
TO the opening prices. For the first time in
many months the transactions in listed stocks
fell below those in the unlisted department,
and while the former aggregated only l4o .4OS
shares the latter reached IA, ,304 of which Cot
regular list only four or five reached five
figures Advances are IN a majority this even
ing but the final gain of per cent in Ten
nessee coal is the only one of importance,
while Cotton Oil is down 81 and Sugar IL.
The railroad bond market was quiet to dull
to-day, the sales of all issues reaching only
Sl,O7200O of which the Gulf, Colorado and
Santa Fe IS furnished S142, 900. The market
was without general feature.
The Posts financial article says: The move
ments of the prices Of the various groups of
stocks in the last week are worth considering
as clear index Of the market to-day. 1t is a
noticeable fact that Notwithstanding all the
rumors and telegraphic reports from Chicago
intended, or at least expected, to influence the
prices of the Granger stocks, they are almost
unchanged, and at II o'clock to-day North
western, Burlington, Rock Island. st. Paul and
Atchison were none of them over M away from
their prices at II o'clock on Thursday, the oath,
but Missouri Pacific, Union Pacific, Northern
Pacific preferred, Lake Shore and Canada
Southern were all from 1z01sk higher, Michi-
gan Central ~ higher and Denver, Texas and
Fort Worth 81 higher. On the other hand,
Jersey Central, Lackawanna and Delaware and
Hudson were all from 1z@1 per cent lower, and
Reading 1ss lower.
The circumstances which are causing the
different tendencies OF prices of the different
groups are entirely separate and distinct from
the question of the money market, which is no
longer an important factor in the stock market.
that new experiment is about to be tried in
the practical consolidation of the operation of
heretofore antagonlstic lines, and in view of
this SPECULATION in the Granger stocks waits
for the results. The Vanderbilt Eastern lines,
however, will unquestiOnably be benefited, and
as they are all doing remarkably well anyhow,
Europe invests in them. Those who profess to
know something of the character of the con-
tract made between the Union Pacific and the
Northwestern understand that it will result in
the operation of the two systems in the same
manner as the New York Central and the Lake
Shore are operated. This is the Joint use of
rolling stock Except locomotives) for through
freight and passenger trains without transfers,
the entire length OF the lines of both COM
panies. This is in fact operating as one system,
except for the local business which is In no
way affected.
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH bY
WHITNEY STEPHENSON, oldest PittsburR mem-
oers OF New YORK Stock Exchange, 81 Fourth ave-