Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-05
NEW YORK STOCKS.
Comparative Activity In the Mnrket-Bears
Make nm Effort to Shake Out Long
stocks-Fhe Cry of a Bad
Bank Statement.

NEW YORK, October 4.-The stock market
to-day was comparatively active, but the &C.
tivity was of the usual sort made entirely by
the operations for decline and the weakness
was most pronounced, approaching nearly to
complete Generalization, and the losses in.
Cured during the short session Of only two
hours compare favorably with those of any full
day of recent date. TIE bears made what
would seem to be one final effort to shake out
long stocks, and no doubt but that considerable
liquidation was accomplished in all petitions of
the list with the single exception of Lacka-
wanna, which was the only stock which re-
ceived any support whatever. The cry was "a
bad bank statement" and after the issue or
the statement, which was made unusually
early, the most determined drive of the day
was made and in the downward movement,
ceptibly accelerated.
The opening was made at lower figures, the
losses from last nights prices extending gen.
orally to u per cent. but Kansas and Texas xas
exceptional, with a loss of lI per cent. The
downward movement went but little farther
for the time being. the trading element start
ing in to cover, but the movement lacked vim
and later all those stocks were thrown over and
the bears crowded the market with an avalanche
of short stocks which broke the market badly
especially in the grangers, Southwesterns and
the stocks of the Pacific roads. There was no
cessation OF the pressure. which lasted right to
the close, and. although there was slight re-
action IN the final dealings, the close was active
and weak, practically at the lowest figures.
The excessive weakness in the prices of rail-
road stocks continues to be out of keeping with
the actual values as shown by the earnings re-
ported. Those for the month of September
just In show, as compared with the correspond
ing month of last year, great improvements,
and the gain in Colorado Midland being % per
cent. Norfolk ana Western 81, while the in
creases for the fourth week of September are:
st. Paul. 9A; Iowa Central A, and Wheeling
and Lake Erie, 40. The final losses for to-day
are: st. Paul. 21s; Wheeling and Lake Erie pre-
ferred, ~; Union Pacific, IA; Wabash pre-
ferred, "a; Missouri Pacific, e; Louisville and
Nashville. Rock Island and Burlington and
Quincy. ~; Northern Pacific preferred, N;
North American, Wheeling and Lake Erie and
Western Union, l per cent each.
Railroad bonds were moderately active, and
while the tone of the market was heavy, there
was no sympathy with the Generalization which
marked the dealings in stocks. The final changes
of importance are few, rs usual, and on q busI.
ness of S42l. 600 Reading second incomes lost
"a at 449a. Government bonds have been dull
and steady. State bonds have been dull and
barely steady.
Tue exports of specie from the port of New
ork last week amounted to S312 1875, of, which
SS5, 9S6 was in gold and $226 l50 silver The i'm
ports OF specie during the week amounted to
Sll739S. of which S2 lS9 was in gold and SOC. .204
silver.
The Post says; Disbursement of over $4,000
by the United States Treasury in the month
Of September have pat the question Of money.