Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-14
THE BEARS ON TOP.
The Stock Market Depressed-The Read
Ing DecisioR and Its EGecIs-WheeI.
ing and Lake Erie Strength.
ened = Business Only

MO0eF0kes
NEW YORK, January 12-The stock msrke,
was quiet to-day, with the usual prepondeIance
of few stocks, in the amount of business done,
and general sagging tendency carried prices
down fractionally in the general list while
stocks we're again positively weak and in some
of them material losses were scored. Reading
and its affairs were the great center of interest,
and the dissatisfaction over the course of affairs
was shown in the pressure of long stock for
sale in the early dealings The decision deny
ing the injunction against the voting trust was
known shortly after the opening of the
board, but seemed 10 have no material in
duence upon the course of the stock, as it leaves
things just as they are, and is regarded as a
substantial victory for the Corbin party The
to cut the market away from the long sellers,
and large blocks of it changed hands in the
first hour, resulting in decline Of " per cent.
The other COalers sympathized closely with
Reading and Jersey Central, and Delaware and
Hudson SOLD at materially lower prices than
last week, the former at its lowest price show
ing loss of per cent Lackswanna was
active, but was still well supported, though it
sagged off with the others and closed with a
loss of over per cent.
There was little of interest In the rest of the
list. though New England displayed consider
able strength in the face of the early declines
as did also the Wheeling and Lake Erie stocks
and Sugar refineries The last named, in fact.
was the only really strong stock in the market,
anu bCanQs alone CnlS evening In showing q
material improvement. Kansas and Texas was
weak throughout, but rallied slightly toward
the close, when covering of shorts caused a
slight rally in the general list. and the Coal
stocks, especially Jersey Central, rose consider
ably above the lowest figure. There was some
favorable news received, chief of which was
the arrangement of the differences between
the Central and Union Pacifcs. but the other
items were of small importance Money was
subjected to a little furry. and the rate on call
went up to IL per cent though that figure was
not held, and loans were made as low as 4 per
cent afterward- The market closed quiet and
firm on the rally.
Railroad bonds showed moderate volume of
business and the Kansas and Texas issues, as
well as the Reading bonds, were conspicuous
for huctuation and weakness. Out of the total
of 81, ,614, 900 the Kansas and Texas sevens sold
SlS4,000 the skies $4,000 and the Reading
hrsts Sl5S, ,0O0 None of these bonds however
scored any material loss, and the tone of the
rest of the list was decidedly firm for the active
issues, many of which are materially higher,
Minneapolis and st. Louis equipments skies
rose 81.
Governments have been dull and steady
States bonds were entirely neglected.
The following taOIe SHOWS the prices OF active
stocks on the New York Stock ExcnanRe yester-
day. Corrected daily for THE DIsPATCH bY
WHITNEY 4 STEPHENeON, oldest Pittsburg menu
bers Of New YORK Stock Exchange. o. Fourth ave-
uue: