Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-18
NEW YORK STOCKS.
For the First Time in Two Months the
Market is Decidedly Strong, With an
Upward Tendency-Money is
Still Growing Easier

NEW YORK. October 1.-THE stock market
! to-day was moderately active, as usual, but the
| tone displayed was in marked contrast to that
of the past two months, being decidedly strong
| and at times buoyant, with a conspicuous lack
| of pressure to sell, and it became evident at
the close of the day that liquidation had been
changed from the long to the short account.
| The buying in most of the active stocks was
| excellent. Boston took its favorltes literally,
| and London, which was inclined to sell in the
early morning. turned buyer later in the day.
The news of the day. especially that from the
Northwest. was very favorable in its tenor.
and the. decrease in the earnings of st. Paul
| for the second week in October was SO slight
| that it attracted little or no attention. There
| was great deal of talk over the revived rumors
| of the transfer of the control of the Reading
to other influential parties, and that stock be-
came again active and strong after long
period of neglect. There appeared to be con.
| siderable marketing of both Lackawanua and
Chicago Gas. although the points as distributed
to the street were all to buy.
Each, however, closed at near TO the opening
figure. The opening of the market was quiet
hut strong Notwithstanding the lower prices for
London and the selling of London favorites;
and while there was no excitement of any kind
prices moved up steadily during the forenoon,
and ma erial gains were scored in many Of the
leading stocks. the general list as usual being
however, the sudden rush to buy Reading and
st. Paul caused quite marked increase in the
activity, and the dealings betrayed more. and
especially in Reading, st. Paul and North
American. The bears were on the full run all
the afternoon, ana the upward movement met
with no check from the opening to the close.
and the slight concessions made from time TO
time, and especially in the last hour were al
most wholly from the realiZations of profits by
the room trading element There are some
apprehensions about the bank statement to-
hnr r1ri 1ly fha f1f
those who are interested in a lower range of
values and the confident buying of to-day in-
dicates that those who are in position to
Judge have no fear of further coseness of the
money market. The most pronounced move
ments were in the speciallies and Manhattan,
with gain of per cent. Citizens Gas. of
Brooklyn, and some others of like caIiber,
scorek gains FROM to 4 per cent. The close
was active and strong at or about the highest
prices of the day. The final changes are
e Sort ana
Pc Burlington and Louisville and Nashville
l54c, Northern Pacific preferred2 2 ST. Paul and
Sugar l1a, Northwestern, Pacific Mail and
Reading each lsss Missouri Pacific and Union
Pacific Il AtchIson, Rock Island, C., c., G. and
St Louis. and Wheeling and Lake Erie each l
per cent, and Others fractional amounts.
Railroad bonds were quiet, but sympathized
closely with the movements in stocks and dis
played firm to strong tone throughout the
day. although the sales of all issues reached
only $3.50 QUO. Almost all the active issues
scored material gains, and the close was strong
Government bonds have been dull and firm
State bonds have been dull and barely steady
The Post says: Money is steadily growing
easier in London, and this morning was down
to per cent, for the first time in some weeks
The market for Americans was consequently
stronger there to-day, and the result was higher
prices here throughout the forenoon. This
market however, continues narrow, because
merchants and capitalists for the present
employing their money in active trade and new
enterprises. This leaves London the most i'm
N "a
the already established dividend securities
But the increasing supply of money, both here
and in London, Shows that this demand is likely
to increase. and result in higher prices for
securities. 1t is The great activity of money,
rather than the rates. which still makes some
spectators umid about loading up with stocks.
Unusually large sums are being moved fIom
one bank to another.
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, Oldest Piitsburg mem-
bers of New York stock Exchange, 81 Fourth
avenues: s,.1