Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-25
MARKETS BY WIRE.
Financial Troubles in Eastern Cities De-
press the Opening Prices Only-A
Decline Caused by the Great
Pittsburg Failure.


,,.o r, -, -. -,
SniSAeo-tne Hhanoiai trouoies VI tne
Eastern cities were again used to depress
prices here but were effective in that direction
for onIv n short time The reooverv WAS sharp
ond tho ,yhaot r,.rta+ closed a, on advance
~ a"u 'no "no"S 'N@,A ooeu ~ Au
upon saturdays CLOSING ngufes Oh i1ac. Noih
gained l24c, and oats 5sc.
The wheat market opened with buyers at
about SATURDAYS closing prices and the first
too, Iaco ,e fror, 9, nosI 60 e1 oo7L
-'ooA P.aeo a. ioin VI WA " g WIS
ior Nay ueh'ery, Will Possipiy SAFE OF IVY ~
u OL There was less tran the usual commo-
tion during the first tive minutes of the session,
and at the end of that time prices beoan tn dis
H., .e.aa., e. ,ro.1o,, TL..a -. ,,a-,,
Piay d 'ehue"Sy W Weee" was ,e.'
L''ie ueinanu anu very nhiteo ueailne. anu IN
the December future the trades which took
place were at discount of about per cent
from tho more remote delivery Public and
nrivo+o coh,ooro,ns ,notod the Euronoop mar.
p~.o 0@oies iann' eno'eu ~ opoan p'A. n.A.
kets nrm' ana there was no disturbing eiemeh's
In financial affairs when the session COM
menced. The announcement of the failure OF
a stock brokerage firm at New York was made
and nm the haeIs of tho New York assionment
~"u on 'Ao neei' ot .no t,o" " n:..-1'.---,
canne the reporIeu trouble oi nlsours con-
cern, one OF the members OF when was Dank
president. This news caused q sudden collapse
of abont Ic per busheI, May selling down to
qg7Zc ,rbers ,yas a oood demand at the de-
cIiSe nartIv from shorts and nartly from in
veetorPs 20" anJ tbis yas foI,owed NV a HARDENING
of nricas ;ndicat;ya of raturnin0 confidenoe
The visihIe SnnnIv fionres we're as usual the
suiiect of considerah hje snecnlation mn to the
tirno NJ ttoir raceint ,he resnIt sboIUino an
increase of Qua mn bushels was near enouSb to
the nreconceivaL ideas of the crowd m fail in
affec,ino, tbe ,oo-1at Tho recoverv in n,icas
was not yorv ranid mill after NAV WHEAT nav.
ing sold as low as 9gJSc had worked back to
81 ms bnt II disnIa ved an airy bnoyancv after
that noiut had been passed which all the wheat
filed nnon the market nv the shorts vas power-
less tn resist The shorts LATER in the Session
o.ve mn thei, attemnts at hoIdino nrices down
and became the most vigorous sunnorters of the
market during the last half of the session, A
recovery of 2% cents from tine lowest price of
the day was brought about IN the last halt hour
of trading. accomnanied bv considerable ex-
citement and ENORMOUS trading. Those who
had sold early on the failures. already resolved
to call in the advance. Partridge was reported,
in the vernacular of the pit, to have been run
inn at an early stage of the davis proceedings.
Ream. Cudahay and few others were reported
as falling into line with the advance later. The
renorted advance OF 2 cents in the price of
cash wheat at Mlnneapolis and the decrease in
the country elevators were the moving causes
of the advance. Nav advanced to SI O25S and
December sold up to e5s5c.
There was a reckoninS with the snort sellers
of corn as the result of to.day's trading. and as
is sufficiently suggested. by an advance Of
nearly PIC at one time over SATURDAYS closing
prices. The small stocks iu store have made
nlay uuon. and the bulIs used il to its utmost
comnass The nrincinaI strength of the markets
here came from the local sneculatiye Situation.
The crowd here was short yery heavily. and
Hntchinson had hrs hooks filled with their con-
tracts Partridpe was nrobabIy the heaviest