Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-29
NEW YORK STOCKS.
Sugar Refineries Still the Leader In a Dull
Market, With Union Pacific Not Far
Behind - Silver Certificates
Show Much Strength


NEW YORK, October 2S-There was very lit.
tie doing in the stock market to-day ou tside of
the few leaders, but the transactions in them,
while not as large as usual of late. rolled up a
respectable volume of business at almost stead.
lily declining prices. Sugar was again the
leader, and, while there was a disposition to
await developments on the part of the majority
of holders, the traders again took advantage
of such situation to hammer the stock down.
There was no let up on the stock from opening
to close and while the decline resulting was
not SO large as last week. it amounted to over
4 per cent at the lowest point. and served to
give dropping tendency to the general list
The street was full Of the story that the
Union Pacific was the aggressor in the new
difficulty in the West. The fact that the Presi-
dent and the General Traffic Manager were to
meet the officials of the other Granger roads to
Fl x up the existing difficulties was entirely ig-
nored as was all other news, which was gener-
ally of a favorable nature. The stock was
knocked OF ~ per cent, however, and on the
way down the evidences of a heavy covering
of shorts accumulated The stock. in com
mon with the rest of the active shares, how
ever, displayed no recuperative power and the
ual prices in all are close to the highest of the
day.
The old Granger stocks, with Louisville and
Chicago Gas, were prominent in the dealings,
but only the last named sympathized with the
0oWnWatu movement TO any marked extent.
There were few stroug spots in the list, but
they were all in the inactive specialties. The
market was extremely dull after the bulk of
the hammerlng was over, and closed heavy at
about the lowest prices rpachnd.
The strength in Silver Certificates was ore of
the sustaining influences late in the day, and
they closed per cent nIgber. The final
changes In the regular list are all for small
fractions and with few exceptions are all in
the direction of lower figures, while Sugar is
down "a and Union Pacific pa.
The IaIroad bond market was dull. the sales
OF all issues reaching only $4,000 and the
m l"rity of the b. n Is traded in showed a
he IVY tone. with the usual slight changes. The
los es were more numerous than usual of late
no ever, and Union Pacific As lost at II;
Wisconcin Central incomes, 2 al Az. Gov
eminent bonds have been dull hut firm; State
bonds have been dull and without feature.
The Post. speaking of the speculation in
Sugar Trust, says: The street is still full of
rumors about a statement that will soon be
made by the trustees, showing that the plant is
worth S25000 900 and the quick assets Sli 600 OCO
or S36000.00O III all, being 70 per cent of the
capital OF $50,000000 But as there is no author
ity whatever given for any of these figures, and
on the other hand it was the common under
standing months ago that the certificates were
issued to the owners of the various refineries
which went into the Trust at the rate of So 50
for 81 of the estimated value of the refnerie,
which would make the total estipia ated value
of the plant say l6,OOOOOO or $1,000. OOQ The
difference between sl6,000000 and s36 0O0 900 is
SO great that without any knowledge of which
is the nearest to correct, It is absurd that any.
body should deal in it especially when there
do not tell.
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
WHITNEY & STEPHENSON. oldest Plttsburg MEM
bers Of New York Stock Exchange, 81 Fourth
avenue: