Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-15
SOME IMPROVEMENT.
Railroad Shares Feverish and Unsettled
Though Final Prices Show Fra ction-
al Gains Over saturday-Bonds
To,o huf Hoo-v
More Active, but Heavy.


NEW YORK, October A-The stock market
was exceptionally feverish, unsettled and, in
portions, weak to-day, though the general run
of railroad stocks were well supported and a
few displayed undoubted strength. The indus
trial stocks were the weak spot in the market,
and they served to check the advancing ten
dency which was shown in the regular list
whenever the pressure was lifted for a time.
The favorable bank statement of Saturday,
with the higher figures from London this morn
ing, and the foreign buying made the opening
of the market strong and moderately active,
first prices showing advances over Saturday IS
closing figures of from e to Is per cent
Atchison early became the strong point in
the market, and while the buying was chiefly
on the expectation that the plan of reorganiza-
ton to be gwen out tomorrow would be one of
positive value, and acceptable to the security
holders of the company the August statement
showing an increase of over $685. 900 in net
earnings was undoubtedly of great influence in
making the advance. A few other stocks
showed positive strength, among which Jersey
Central and Cleveland. Columbus, Cincinnati
and st Louis were most prominent, the last
named being bought by insiders with consider
able talk of a dividend.
The trusts resumed their old time prom1-
nence in the market, and were raided vigorous
ly throughout the entire day, and while nj ost
of the buying had the appearance of coming
from insiders, there did not seem to be any
real support in the market. There was still no
decision in the North River Refinery case,
though it was held up as bugbear to the hold
ers and would-be buyers of Sugar. The stock
was knocked off from 50 last Saturday to 1871,
and rallied slightly but another raid sent the
price down to 7614, and it closed weak at 761f.
Cotton Oil had an appearance Of strength at
the opening but the stock was raided with
Sugar and while there appeared to be scaled
buying orders they werenot of sufficient mag
nitude to sJop the decline. and it dropped from
43 to 391z, recovering to 40H.
The Coal stocks, with the exception of Jersey
Central were rather weak, and Lackawanna
was subjected to considerable pressure, as was
also Missouri Pacific, but the impression made
upon them was slight. Manitoba and Canada
Pacific upon a story of an alliance between
them, were qnite strong. though very dull,
while the Chesapeake ana Ohios were strong in
a moderate volume of business for those shares.
The market continued feverish and unsettled
the entire day, and finally closed rather heavy,
though the final prices are fractionally higher
than those of Saturday in all but few in
stances. Atchison is up 2H, Jersey Central
and Cleveland, Columbus, Cincinnati and st.
Louis IL, while Sugar is down 81 and Cotton
Oil 2l.
Railroad bonds were shade more active to-
day. but the general tone of the market was
rather heavy. The sales Of all issues reached
5000 900.
The Following table SHOWS the prices OF active.