Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-09
NEW YORK STOCKS.
The Market Strong, but There Was Lack
in the Demand for Stocks Owing to Pur-
chasers Not Apparently Having
Money to Carry Them Over.

The Market Strong, but There Was Lack
in the Demand for Stocks Owing to Pur-
chasers Not Apparently Having
Money to Garry Them Over.
NEW YORK Dec. S.-The stock market to.
day was again active and irregular but on the
whole weak and while the movements show no
uniformity the majority of the final changes
are losses. The market. however, was decidedly
strong at both ends of the day and the temper
was such as to show that, with any real induce
ment to buy. coupled with q reasonable assur-
ance that the money to carry them will be
forthcoming, there would be good and
extensive demand for all good stocks The
offer of the Secretary of the Treasury to
take S., COO of the per cents was a most in
fuential factor in the situation this morning.
The hint that the Sl7, 900 of fractional cur
rency might be made available also had a de-
cidedly good effect. London prices were
higher and altogether the outlook was far
different from that of Saturday afternoon, and
there was rush to cover shorts in the early
dealings which. on comparatively limited
offerings, soon brought the list up above Sat
urday's prices from / to 81 per cent, Rock
Island. Missouri Pacific and the Grangers gen.
pective relief to the monetary situation, how
ever, was of immediate avail, and money on
call became very dear, finally reaching pre-
MUM of 4 per cent per day for use in addition
to the legal interest.
At the prices also there appeared a DISPOSE
ton to liquIdate long accounts and the bears
Immediately became aggressive and hammered
the list all along the line. All the leading
stocks soon had lost all of the early improve
ment and.a as the pressure was kept up without
interruption, the losses from the highest figures
extended to 81 per cent in Missouri Pacific
The downward movement was accelerated bv
tho announcement of the failure of a large hat
house up town, while the old rumors about
United States Cabinet officer being in financial
straits rnhaShad aud 20 IL
again. The fear of the contiaued announce
ment of failures in the mercantile community
has become one of the great restraining forces
IN the stock market, and every fresh one
serves for the time TO depress stocks in general
although 1t may not be known that the firm
Is at all interested in securities.
The weakness of the Gould stocks was
pointed out while the attack upon Reading
which +orced its price off TO 2GlIc was made
the occasion of revival of the old story abont
the liquidation of the holdings of the pool.
There was undoubtedly great deal of liuuida.
tion of long accounts, but there is no eyidence
to show that they are anything but those of the
professional traders of the street. A fresh issne
of 81 900. 600 ClearIngHouse certificates was also
used against the market. The tIghtness in the
money market passed away toward delivery
hour and it became known that 81 600 OGO cold
had been ordered from London, which again
set the shorts to covering. and prices moved IN
RAPIDLY in some stocks in the final dealings
The improvement. however, was insufficient
to wipe out the losses of the day except in a
lew STOCKS. Among the latter the stocks which
led the early advance were most conspicuous
and GONE of them closed with material rain
on Saturdays prices. The market was active
and strong at the close, but most stocks are left
below SATURDAYS figures. The advances of
note comprise Union Pacific. l3l: Rock Island
and Northern Pacific, preferred. IL per cent
each, and Burlington and Quincy, per cent.
while the losses include Sugar, So, the Wheel
ing and Luke Erie stocks each D.: Jersey Cen
tral, %; Silver Certificates. Is; Colorado Coal
and Missouri Pacific, each lIs; Reading u,
and Lake Shore, per cent
Railroad bonds we're more active than usual
of late. and were weak throughout the entire
day. Out of a total days business of 81 744 OOO
Atchison incomes furnished S22S 900 and Kansas
and Texas fours 100000. The active issues
were all conspicuousiy weak, and there was no
recovery. as in stocks. that all bonds are left
at the lowest point of the day. Erie seconds
lost . at SO; Kansas and Texas seconds az at "a.
Reading tours at 751a, the trsts 25z at ~; the
seconds at 80. the thirds 81 at ~. and wa
bash firsts 2 at 93 Government bonds have
been dull but firm. State bonds have been
entirely neglected.
The following table shows the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH Inv
WHITNEY STEPHENSON, oldest Pittsburg mem
bers of New York stock Exchange, 81 Fourth
avenue: