Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-30
NEW YORK STOCKS,
The Sharp Rally in Sugar Refineries Booms
the General Market Until an Attack
on the Burlington Takes the
I1f of


NEW YORK, October 29.-The stock market
to-day showed no material change in its gen.
eral characteristics from those of the past few
days, and there was the same professional
trading, the apparent willingness of the large
holders of stocks to let them take care of them
selves and the same disregard in its movements
of the influences which should legitimately
tend to the enhancement of values. The gen.
eral list, as usual, was dull and comparatively
stagnant, while the efforts of the operators for
a decline we're directly applied to few stocks,
which proved specially vulnerable. and in those
shares material losses were suffered.
Again the talsity of the stories of financial
difficulties IN London were disproved by the
passing off of the settlements without failure
of any kind, although it vas stated that assist
ance had to be accorded in some cases. Lon
don, however, was not a factor in any way in
this market, and the opera gi0ns for London ac-
count were few and confir cd to arbitrage oper-
ations almost entirely On the other hand,
Boston was a heavy seller, and the stocks in
which it is most interested were most specially
weak.
The announcement of the decrease in the net
earnings of the Burlington for September was
followed by sharp attack upon that and the
other Grangers. which brought prices down to
the lowest of the day, and in many cases to the
lowest seen in months. Sugar Refineries, after
sharp upward movement in the forenoon,
which seemingly had the effect of postponing
the attack upon the general list until the alter
noon, remained dull and featureless, but was
held at the best prices for the remainder OF the
day. Chicago Gas fell away in the forenoon
about per cent, but the announcement of the
decision from Chicago that the company had
ne right to buy or to hold the stocks of the
other companies was received with apparent
indifference, and the stock recovered all of its
loss with the remainder 0f the list st. Paul
was one of the weak stocks, and showed less
recuperative power than the rest of the Grang-
ers notwithstanding the favorable news from
the West The latter however, was of some
influence upon Union Pacific, which was well
held in the forenoon, and later displayed con.
siderable strength.
The opening was made at irregular changes
from last nights figures, and the early trading
developed continuance OF the depression OF
rled the list along with it, and but little further
weakness was seen during the forenoon. The
raid upon the Grangers after II o'clock, how
ever, took the vim out OF the market, and the
lowest prices of the day all along the line were
reached at about p. NJ. and when the pressure
was removed dullness and stagnatlon were the
features until the last hour, when covering of
shorts again moved prices up and in most cases
the final figures are only slightly below those of
the opening, the close being firm at the i'm
provement: St. Paul touching 551a. closing at
56aS, a loss of ". and Northern Pacific pre-
ferred is of per cent. The remainder of the
changes are generally small losses, though
Sugar and Union Pacific both are fractionally
higher. Railroad bonds were more active, but
out OF the Sl,3Tl,V ,V0U OF business, 1eXaS racine
seconds furnished s27O, ,O00 The latter were weak
throughout and the general market displayed a
heavy tone, though while there are q majority
of losses the final changes are still generally
for Insignificant amounts.
Government bonds have been dull and steady.
State bonds have been dull and without
feature.
The Post says: Money was tight in Boston
to-day, aud for that as well as for other reasons
Boston was seller of stocks. The selling eX-
tended also to the copper stocks and the local
securities. The announcement that the IS, OO0.-
000 of Oregon and Transcontlnental bonds, due
on Saturday, November !, would be paid upon
presentation on Friday, the 3lst, did a great
deal to relieve apprehensions of pinch in
money on Friday for loans to 60 over till the
next Monday. because if the money had been
held over until Saturday (Which is not refused
to any extent), it would have withdrawn that
large amount from the market from Friday
until Monday. There are however, various in
dications that money will soon be much easier
in this market. The return of currency from
the interior has certainly begun. and we hear
of one bank Fourth National), which, in the
last two days has received 81 00O. 600 from the
interior.
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON, Oldest Pittsburg mem-
bers of New York stock Exchange, 81 Fourth
avenue: