Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-28
NEW YORK STOCKS.
TIE General List Quiet to DuIl-Pacihc Mall
Becomes a Shining Mark for Bears
Remarkably Favorable Bank stute.


Becomes a Shining Mark for Bears
Remarkably Favorable Bank stute.
ment-short Interest Large.
NEW YORK. September 1.-THE stock mar
ket to-day was quiet to dull for the general
list, but the continuance of the bear pressure
upon few of the leading stocks created
activity in these shares and gave tone to the
entire list. The market displayed marked
lack Of support from the earlier dealings, and
the bears, Notwithstanding the fact that very
favorable bank statement was expected, In
creased their sales Of short stocks as the time
wore along ana the last prices are at, or near,
the lowest of the day.
The pressure was most prominent upon
Atchison, Pacific Mail and Sugar, and each of
these short stocks scored material losses in the
short session. The President of the Pacific
Mail was quoted as saying that there waslistle
hope of the passage Of the subsidy bill in the
present session of Congress, and the stock be-
came shining mark for the operations Of the
BEARS and it was forced of from ~ 10 40 and
closed at Al.
Sugar was sold on the compromise Of the
sugar tariff, which is looked upon as not favor
able enough to the refners, and large amounts
of the stock changed hands OF constantly de-
clining figures. Atchison was pressed for sale
and steadily declined, with no Developments,
but plenty Of talk Of business troubles in Bos-
ton.
The general list opened heavy, though first
prices were generally slightly higher and sym
pathized closely with the weakness in the lead
ing shares, and, while there were frequent
slight rallies. most of the lis. closed of small
fractions from last nights prices. The loss in
Sugar was Il IN Atchison ~ and in Pacific
Mail IL.
Railroad bonds were very quiet and showed
little feature but the tone was heavy with only
slight changes, even among the leading issues.
Government bonds have been dull and frmer.
State bonds have been dull and steady. The
exports of specie last week amounted to Sl4, 900.
all gold. The imports of specie during the
week amounted to $685. 825 OF which S153,280
was in gold. and s45, 545 silver.
The Post says: This market IS narrow, ana the
most active Spectators have got themselves SO
much involved on the short side that they are
obliged to do all they can to prevent the rise.
some time soon; the short interest is so large
that any attempts to cover it would make a
sharp upward movement in prices.
The bank statement was remarkably favor
able one in every respect and shows that the
banks have recovered from their expanded
condition, as will be seen by the fact tnat the
average of the total loans for the past week was
equal to only 96.A per cent of the deposits,
whereas on last weeks statement they were
equal to 1OO35 per cent. and the previous week
l02H per cent. 1t must, moreover, be borne in
mind that the present statement is made on
rising averages, and that the real condition Of
the banks to-day is much easier than is shown
by the statement.
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
bers Of New York Stock Exchange, 81 Fourth
avenue: