Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-03
NEW YORK STOCKS.
Market Irregular, but Prices at Close Usually
Somewhat Higher-Drop in Railroad
Bonds-Lackawanna Shares
Up Several Points.

Up Several Points.
NEw YORK, Dec. 2-The stock market to-
day was very active in spots. While the gen.
eral list was quiet and dull, and while there
were frequent changes in the temper of the
speculation, the tone IN the main. especially in
the afternoon, was strong, and among the
actiGe stocks material advances were scored.
The market is again chiefly under the influence
of the monetary situation, and money brokers
claim that it will be useless to look for any
amount Of time money until after January !, as
institutions are not willing to enter into any
new engagements toward the close of the year.
To-day the sellers of yesterday were running
in their shorts, frightened first by the attitude
of I,ondon, which showed disposition to buy
stocks, and later by the suddenness with which
prices were advanced upon them late in the
day. The movement toward higher figures at
that time was sharp and decisive. and most of
thU improvement recorded for the day was es-
tablished at that time. The market at the OPEN
I'M! was still irregular, but most stocks showed
some advance over last evenings figures, but
the short sellers were inclined to continue the
tactics of yesterday, and the early trading re-
suited in lowering prices small fractions.
This, however, was soon stopped when the
buying orders from the other side were exc
ctlted, and everything on the active list moved
MP materially, with Lackawanna, Burlington
Rock Island and New England to the van.
Upon the cessation of the buying for foreign
accounts. however, there was another recession
in which the bears brought special pressure to
bear upon the Northern Pacific. and the pre-
ferred retired about per cent before the at
tack eliminated. The remainder of the list
sympathized closely with this drop, and prices
were generally brought below those of the
opening again. The concessions, however
brought in buying orders and the list was again
started upon the up tack shortly after noon,
and in ST. Paul, Lackawanna, Union Pacific and
Atchison were specially active and strong.
In Lackawanna. in which the bears showed
price reached AZ per cent, while the others
rose from to 3 per cent, Northern Pacific pre-
ferred regaining all the loss and something in
addition. Reading and Louisville were also
prominent in the late rise, but the general list
and the unlisted stocks were quite dull. The
after delivery hour, and partial recession fol-
lowed OUT, the market closing quiet and firm
at close to the highest prices
The active list Is almost invariably higher
wanna, 81; Wheeling and Lake Erie preferred,
21s; Jersey Central, 21a; Union Pacific, 2ls; ST
Paul, "a; Chicago Gas, 2; Rock Island TX:
Atchison. Missouri Pacific, Southern. 255:
Louisville and Nashville and Reading, N. and
C., c., e. & st. l., lH.
Railroad bonds were comparatively quiet to-
day, the transactions in all issues reaching only
sl62S.0oO with no special animation in any of
the usually active bonds. Among the most
marked changes; New York. Susquehanna and
Western funding hves lost ~, at 953l; Reading
seconds 2, at 3614; Manitoba. Dakota, skies 2 at
LIS; Iron Mountain firsts rose 2 to IO4J%; Nor
folk and Western fives "a, 10 9514; Peoria, De-
catur and Evansville seconds 21& to Co.
stocks on the New York stock Exchange yesterc
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHENSON, oldest Pittsburg mem
bers of New York Stock Exchange, 81 Fourth
avenue: