Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-08
NEW YORK STOCKS.
Market Again Panicl<y and Closes at Lowest
Figures of the Day-Gold Due From
Across the Water, but Not

F1Sures OF the Day-GOld Due From
Across the Water, but Not
Forthcoming.
NEW YORK, Dec 6.-The stock market to-
day was again pancky, and in the two hours of
business there were large transactions and de-
cided losses IN all the active stocks, although
the market retained its narrow character and
the general list was comparatively neglected.,
and only one of the active stocks. Illinois Cen
trail. showed any material movement during
the day, although many sold at prices much
lower than those of few days ago. The Lon
don market was strong, and advices from that
center reflected 4 confident and hopeful feel
ing, but the refusal of the Bank of England to
furnish gold bars for export to this country,
was an unfavorable factor here.
The fact that there should be gold ordered,
however, Is undoubtedly q most encouraging
item, and the outlook for the next week IS
already felt to be more cheerful, as it will be
impossible for the Bank of England to prevent
much longer the shipment of gold in large
amounts in settlement of the Indebtedness for
the exports already delivered in England. The
room, however. was very bearish. principally
upon the recent almost daily announcements of
mercantile failures here. In addition, the
trading element was inclined to discount to-
day bad bank statement. The latter fulfilled
their expectations to the letter, and the banks
are again over s., ,0O0 900 below the requirements
of the % per cent rule.
The opening therefore under these circum-
stances, not only showed none of last evenings
hrmness, but was made on large business at B
TO II per cent lower imam last night nGureS-
There was perfect rush of short sales in all
the leading stocks and undoubtedly large
blocks of long stocks came upon the market,
and the Gould stocks were pressed for sale with
especial vigor, and all the western roads SUI
fered severely.
After the frst drop there was a halt in the
downward movement, but the selling was soon
resumed upon the issue of the bank statement.
The selling again assumed the proportions of a
semi-panic. The traders covered to some ex-
tent in the last few minutes upon the heavy
selling, and succeeded in making slight rally
from the lowest prices in some cases. The
close. however was vet decidedly weak, with
most stocks at the lowest points of the day.
The talk on the street this evening was gen
orally Of bearish tenor, but the outlook is
really better than for some time. The ini-
portant losses for the day are as follows: Mis-
souri, Pacific. u; Union Pacific, S; Rock Island.
3zs; Northwestern. SO: Sugar, rs; Western
Union, ~; ST. Paul, 81; AtchisOn, Cnicago Gas.
Lackawanna. Northern Pacific preferred. 2ss:
Burlington, 20: Cleveland. Cincinnati. Chicago
and St. Louls, l%: Pacific Mail, ~; New Eng
land, 2: Lake Shore, rs, and others smaller
amounts. :-
Railroad bonds were comparatively out, theie
| sales of all issues reaching 1858 COZ. The bus-
| ness was better distributed than that in shares.
The market was weak but the important losses
are comparatively few. Evansville and Terre
yer firsts, 2 at 81; Long Island tives, at liz;
| Kansas and Texas frsts "a at 7013; Texas and
Pacific seconds, 234 at 2734; UEion Pacific, Den
| yer and Gulf firsts, 2 at Is.
The exports of specie for the port OF New
| York last week amounted to s2l2, 1856 of which
SIS SAT was in gold and 1885, lS9 in silver. OF the
| total imports. S29,T4 In gold and SlZ7.S04 in
silver went to Europe. and 46.773 in gold and
| S. 1856 in silver went to South America. The I'm
ports of specie for the week amounted to SlS8- :
| 4S7, of which S46,5i9 was in gold and sl4l, 93o
| in silver.
The following table shows the prices or active
| day. Corrected daily for THE DISPATCH by
WHITNEY g STEPHENSON, oldest Pittsburg mem
bers of New York Stock Exchange Fourth
avenue: