Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-26
NEW YORK STOCKS.
The Market Quiet in the General List
Washington Rumors Interpreted as
UnfavorabIe to fhe sugar

interests
New YORK, September 25.-The stock mar
ket to-day was very quiet in the general list,
Dut sugar was extremely active again, and
brought the total trading up to the average of
the past week. The tone of the dealings how
ever, was not strong, except In the early ones,
when small advances were scored in the rail-
road stocks. The Bank of England this morn
ing advanced its rate of discount from to
per cent, and London as rule was a seller to
moderate extent OF its specialties, though the
foreign operations in the aggregate were not
| large and had very little influence upon the
course of prices in our market, In fact the rate
of discount was so fully expected and dis
counted that it did not even create ripple on
the general bullish feeling which had taken
possession of the traders. and first prices were
generally from Is to "a per cent higher than
last evenings final figures.
The general opinion was that in view of the
shaping of affairs in the Southwest, Mr.. Gould
was preparing to inaugurate an upward move
ment in his stocks. and the market being re-
Heved OF the incubus of the pressure so marked
of late in the Grangers and Wizards the traders
are encouragedt to take the long side, at least for
turn, and the buying extended to almost
everything in the railroad list, though the i'm
provement was small in every case.
Rumors from Washington were interpreted
as unfavorable to the sugar interests, and there
was general selling movement inaugurated in
sugar refineries stock, which swelled the bus-
ness done in it to unusually large proportions
while its price yielded readily, dropping in all
about per cent. This quenched the bulish
ardor of the traders, and thew took the bear
side wherever selling orders were discovered,
with the result of wiping out the early gains in
the return list, in all except few stocks which
were known to have special support. more
determined attack was made upon the list in
the last hour accompanied by repoots of large
failures in Boston, and the stocks in which that
center is most interested furnished the special
n 10
by Union Pacific, and each of them yielded
over per cent. Under cover of this move
ment, however, there was good buying of sugar
refiners, and it recovered about half Of its early
loss
Silver certificates were again weak and
dropped away to 112H on light transactions.
The market closed active and weak at or about
the lowest prices of the day Notwithstanding a
slight rally in the leading shares in the last few
minutes trading. The final changes are almost
invariably losses of small fractions but sugar is
off ~, Atchison 1ss, and Union Pacific 1H per
cent.
Railroad bonds were again moderately active,
the sales of all issues reaching 81, ,3lS 900, and
while a firm to strong tone prevailed early in
the day the list sympathized with the share list
and declined in the afternoon. The attack
upon Atchison in the afternoon was preceded
by marked weakness in the bonds earlier in the
day. The final changes in the remainder of
the list were also generally Insignificant
Government bonds have been dull and steady.
State bonds have been dull and steady.
The Post says: "Now that the receipts of
grain, provisions and live stock at Chicago
have Increased to volume which is in excess
of this time last year, there is good ground for
the assumption that the eastward trunk lines
from Chicago will have larger earnings this
winter than last. The eastbound shipments
from Chicago are now very largely in excess of
this time last year, and an advance in rates for
grain and some other freight is expected next
week.
Money in open market in London to-day was
up to per cent, as against 31s few days ago.
and this had considerable effect to prevent a
further advance in the stock market. There
are no more apprehensions here about money,
put the stock market is so narrow that prices
move up and down on the trading of half
dozen individuals in the Stock Exchange room.
The following table shows the prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON, old Pittsburg mem
bers of New York Stock Exchange, 81 Fourth
avenue: