Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-13

in rates entirely disappeared. to the disappoint-
ment of the bears and the railroad list was dull
within narrow limits and almost barren of fea-
ture.
The bears resumed their hammering at the
outset OF business, but the advices from the
West gave completely different complexion
to the state of affairs in that region, and instead
Of a sweeping reduction Of rates as reported a
threat to do 50. and the permission given by
Chairman Faithorn to the Chicago, Burlington
and Northern to meet cut on one class of
freight comprised the damage done to rates.
Private wires from Chicago, however, continued
to pour out rumors and reports throughout the
day as has been usual of late, but little or no
crecence was accorded them unless corrobor-
ated in some other way.
Rock Island. st. Paul and Missouri Pacific
came In for their share of hammering but the
enects were not at all commensurate with the
efforts put forth, and a more healthy feeling
perVading the street, covering of shorts became
the order OF the day. There was little demand
for stocks other than this however, and dull
ness and stagnation were the ruling features
throughout.
The sensation of the day was furnished Dy
Sugar Refineries, and the bears had expected
that, in view of the decision making the injunc-
tion perpetual, there must be a further
break to-day, and in fact the opening price was
~ per cent below last nights close. The
friends Of the Trust claimed, however, that the
decision merely left things as they were, and
did not interfere with the working of the
Trust nor restrict the payment of dividends.
The clique took the stock in hand, and its price
was soon run up above last nights and later in
the day further advanced. The highest price
was reached shortly before 2 P. NJ, 64s6, which
was 616 per cent better than its first sale.
Some reaction from this was made in the last
hour, but very material improvement is seen
as the result of the days transactions. The
other Trusts followed, all showing marked
strength except Lead and are the only stocks
that showed marked advances for the day. The
Tad 49,
toward the close, which was rather heavy and
generally at but slight changes from last
nights figures. A majority of the list is higher,
however, and Sugar is up 8S Cotton Oil lss,
and Chicago Gas N
Railroad bonds were fairly active the sales
OF all issues reaching Sl,5200O0, but several
active issues served to run up the totals, and
Wisconsin Central incomes which were spe-
clally weak throughout, furnished S253, 900; the
Texas Pacific seconds, Sl54.000, and the Kansas
and Texas 5s Sill, 900. The general list was
inclined to weakness in the early morning. but
rallied with the share list, and from that time
out was strong and more active. Advances are
IN majority tonight, and while Wisconsin
Central incomes are down 2Ss and Milwaukee.
Lake Shore and Western tirsts %, Minneapolis
and st. Louis rs rose to IS.
The Post says: Aside from the unfavorable
condition of the coal trade the prospects of
the LacKawanna are improving very greatly by
the increase of business derived from its new
western connections to Minneapolis via De-
trolt, ManitOwoc and Ludington the new line
west of Lake Michigan being formed by part
of the Winons and Green Bay and part of the
st. Paul, Minneapolis and Omaha. Since Feb
ruary the amount Of eastward freight taken
by this line-which before that did not take
Anyway be estimated by the fact that -four
alone has been 5000 barrels per day.
1t has been explained TO us to-day by bank
officers that the explanation of the large in
crease of over $S,000, 900 in the bank loans last
week was that as soon as the affairs of the
Sixth National were made known the uptown
banks, and especially the smaller ones, bor-
rowed money of the downtown banks, and
drew out the cash in order TO be prepared to
meet any run of their depositors or any other
emergency. The lowest prices TO-DAY were
made in the first few minutes of business, and
though there we're some hesitation and uncer-
tainty in the course Of the market for an hour
after IL o'clock, the best prices of the day were
made in the last half hour, and the great ma
jority of stocks closing higher than last night.
The following table shows the prices OF active
stocks on the New York Stock Excnange yester-
day. Corrected daily for THE DIsPATCE by
WHITNEY 4 STEPHENSON, Oldest PIttsburR mem
bers of New YORK Stock Exchange. 81 Fourth ave-
nue.;