Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-09
NEW YORK STOCKS.
Prices Take Downward Move-Bears Pay
Particular Attention to Reading-Im-
portant Final Changes Prove
LOsses=Weak Tome.

Particular Attention to Reading-Im-
portant Final Changes Prove
Losses-Weak Tone.
NEW YORK, November 6-To-day's stock
market was merely an annex to that Of yester-
day. and weakness was still the great character
istic of the Dealings prices being still lower this
evening. Advices from London were rather
more favorable this morning, and the recent
movements in the railroad world looking to-
ward better and more harmonious state Of
affairs received more attention, and the disposi-
tion was to look for any improvement in prices,
providing the bank statement should give any
assurance that squeeze In money rate would
not compel the throwing overheard of purchases
within areasonable time. The general expecta-
tion was that the statement would show either
an improvement or only q. slight change. and
the traders were disposed to cover their shorts
in the early trading with the help OF some buy
ing for foreign account The opening under
these circumstances was made at prices which
were from u to "a per cent better than last
evenings figures, but Notwithstanding the
buying the pressure to sell was still heavy, and
.declines in the Grangers and some others were
very material in the first half hours trading
Illinois Central dropped 2 per cent, st. Paul
and Chicago Gas II, Lackswanna like
amount Western Union 1sss Sugar and Louis
pressure was then abated. and comparative
dullness was accomplished by considerable of
reaction in the list when stagnation in prices
succeeded.
The bank statement when issued showed a
reduction in the surplus reserve of about
s., ,500, 600, and there was Immediately another
rush to sell for both sides of the account and
another sharp break followed in which partic-
ular attention was paid by the bears to Read
ing, Cleveland, Cincinnati. Chicago and st.
Louis, and St Paul preferred. each dropping
away about per cent, while losses Of l per
cent. and under were numerous The pressure
showed no abatement up to the close, although
some stocks had not lost all of the reaction
from the lowest prices of the first hour.
Others, however. reached still lower figures
than were touched yesterday and the close
was active and weak at or about the lowest
prices of the day. As compared with last
NortSenn
and New York Central, each ~; st. Paul. and
Louisville and Nashville, each IL; Illinois
Central and Burlington and Quincy. each per
cent and others fractional amounts, while
Pullman is ~ higher and Pacific Mail per
cent.
Railroad bonds showed the same quiet busi-
ness usual of late and the sales of all issues
reached only s6S0OOO with no special feature of
interest in the trading. The weak tone of yes
terday was continued, however, and all the i'm
portant final changes were losses. Government
bonds have been dull and steady. State bonds
have been dull and without feature. The ex-
ports of specie from the port of New York
during the week amounted TO o,9lU Oh Wnlch
81, 9l0 was in gold and $1,000 silver The i'm.
ports of specie during the week amounted TO
sll207 of which s75.0S7 was in gold and S36, $50
silver.
The Post says of to-day's bank statement that
the decrease of deposits does not show any cor
responding decrease of loans, such as might be
expected, and as the disappearance OF the spe-
{ Gle cannot be accounted for by any movement
of money to the interior to Europe, it is sug-
gestive of the possibility that trust companies
capitalists or others have put money away and
locked it up in vaults because they are uneasy.
There is no doubt that the active business OF
the interior has retained much larger amount
of specie in circulation throughout the coun
try this year than ever before, and that it will
not come back here, but this does not account
for the decrease of specie in the banks this
week.
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
aVenuet