Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-29
. WITHOUT A SCAR.
After Passing Through Three Months of
Financial Storms the New York
Stock Market Shows a Strong
Erouf-pouyr Avort~I

Fronf-Pnuic Averted.
NEW YORK. August 28.-The stock market
to-day exhibited a strong tone, and material re-
coveries were made Of the losses of Yesterday,
though In but few stocks are there final changes
of importance. The news of the day was al
most uniformly Of an encouraging nature, es-
specially in that relation ia the strikes, though
money was little dearer, and the impression
that it will work for the remainder of the week
acted as a restricting element on purchases.
Tomorrow is expected to see higher sales not
only on account of the approaching quarterly
settlements, but also because of the fact that
owing to the rule which makes all loans run
until Monday, there are usually considerable
amounts held off the market to provide for
possible contingencies of Saturday. After the
payments of the quarterly interest and diyi-
dends it is expected that there will be no
further trouble for some time. The Bank of
England rate of discount renamed unchanged
this morning. London operators bought more
freely in this market this morning and gave an
impetus to the early trading which otherwise
the market would have lacked, and, while the
purchases for the long account by domestic
operators were small, the desire to cover over
stricted business. The news of the practical
failure of the stock yards strike in Chicago
made Rock Island q favorite, and it displayed
list outside of the few specialties which are
advanced by circumstances peculiar to them
selves
Sugar refineries, after an early decline. was
rather sharply advanced. but the rest of the
unlisted departments were practically dead.
Notwithstanding the efforts to boom lead.
Silver was stronger but dull, and in the after
noon New England made one of its sharp ad-
vances on an increased business without ap-
parently affecting the remainder OF the list in
any way. Hooking Valley came to the front
with sharp advance said to be based upon
the good showing of the earnings. Louisville
and Nashville was the favorite of the foreign
ers and displayed a stubborn strength which
carried it up materially before the close of the
day. There was heavy covering IN Rock
Island. but renewed sales for the short ac-
count late in the day neutralized most Of the
improvement. Union Pacific which was sold
day when there was certainty that the failures
there would not result in any stock coming
upon the market. The traders realized on the
advance of the day in the last hour, but
the selling failed to cause material reaction,
and the close was steady at n shade under the
best prices, while the undertone was still firm.
The whole active list is higher. and Hooking
Valley is up l4; Burlington and Quincy, ~;
Chicago Gas, Louisville and Nashville, South
ern Pacific and Union Pacific each ~. and
Oregon Transcontinental receipts per cent.
played steady to firm tone, although there
were no marked movements in the list Gov
ernment bonds have been duh and neavy. state
bonds have been dull and featureless.
The Post says: All this considered, the stock
market continues to present q remarkably
strong front, Notwithstanding its extreme mar
rowness. Now that matters seem to be assum-
ing little better aspect 1t Is worth while to
remember that the stock market mas passed