Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-25
NEW YORK STOCKS.
Market Weak in the Morning, but Strong at
the Close-Drop in Sugar-Railroad
Bonds Sympathize With
the Share Market.


NEW YoKK, November 24.-The stock mar
ket to-day was very active, and while inclined
to weakness at first became decidedly strong
later in the day, and almost everything traded
in among the active stocks is materially higher
than on Saturday. As yet the monetary situa-
tion in Wall street is not quite satisfactory as
there is no time money in sight, and brokers
are still very cautious about buying stocks on
margins, to carry which they must be depend
ent upon call loans. This phase of the situa-
tion gives the bears encouragement in
the face of the recent developments, and keeps
them aggressive to a marked degree. Conf
dence in a general Improvement. however, con-
tinues strong. especially in the stocks which
have best withstood the late severe depression,
such as Missouri Pacific. Union Pacific, st.
Paul, Wheeling and Lake Erie, and some
others.
There was a feeling upon the street this
morning that reaction was due from the large
advances of the last few days. and the bears
and traders were prepared to take advantage
of the hesitation among buyers, and the open
ing of the market was very ragged. although
there were some marked gains such as lA in
jersey Central and u in Canada Southern. The
pressure TO sell from this element did induce
some realizations by long holders on the ad-
vances, and the selling humor was increased by
the announcement of the suspension of Ed
ward Brandon. an old member of the Exchange
and man of general popularity: The bears
made strenuous efforts to show that it was
bull failure and the sales of his securities
which he was carrying gave the market Set
back.
priced stocks which have been hard to borrow
upon lately and thus hard to carry and the
Nickel Plates and Oregon improvement, which
have been dull and dropping, composed the
under the rule The Nickel Plate first pre-
ferred sold down from 81 to so, and the second
preferred from q to 2l11, and the Oregon I'm
provement from lSh TO l3A, while other stocks
sold materially under the market. The bears
again concentrated their forces upon Rock
Island and forced that of from 81 to 6415 the
rest of the list yielding from Il to II per cent.
The concessions, however, again brought INTO
the market good buying. and Tor the remainder
of the day there was extensive purchases by
those in whom the feeling prevails that the i'm
pending advances in rates in the West will lead
to larger investment buying of many securities.
The buying was also by some Of the strongest
parties in the street.
face of the element opposed to them, and the
course of prices for the remainder of the day
was steadily upward, and the gains from the
lowest prices were from to per cent, St. Paul
and Rock Island leading the way. The Gran
gers were most prominent in the rise. but the
whole list followed and while Rock Island
again ran of over per cent Just before the
tanned. The leading stocks are Still in urgent
demand in the loan crowd. Burlington leading
at premium Of l-l6. Illinois Central and New
York Central l-32, and many others fat.
Money at one time was above per cent rul-
ing extremely easy throughout the day. The
close was active and strong at about the
best figures. The trusts were very quiet,
but the decision against the trustees
rendered Sugar quite weak, and it shows a loss
for the day of 1I per cent The list however,
is almost invariably higher, and Atchison is up
3SS; ST. Paul, 27S; Southern Pacthc and Bur
lington eacl 2L; Missouri PACING, 20; Union
Pacific. 2: Louisville and Nashville, ~; North
western and Northern Pacific preferred, each
lsS: Reading ~; North American, per cent
and others fractional amounts.
Railroad bonds were fairly active and moved
in close sympathy with the share list, being
weak in the forenoon, but rallying sharply
later in the day The sales OF all issues reached
81, ,94S 0OO The majority of the list are higher
tonight, however, and among the important
gains may be mentioned Denver aud Rio
Grande IS. to 80; New York and Northern
seconds, 2% to 45; Northern Pacific and Mon
tana irsts, 2 to l02; Texas Pacific seconds, 3H
to S7lL: Pittsburg and Western frsts, ~ to n.
The Post saws: There is plenty of money
offered in call loans on the Stock Exchange at
and per cent this forenoon. AS it Is quite
plain that while the New York banks in the
Clearing House Association are borrowing
about S. 600 600 of each other on Clearing House
certificates at per cent. they are not likely to
be the lenders of call money on the stock EX-
change at 4 and 5 per cent. 1t leaves no doubt
that the money now offered on STOCK Exchange
Is a new influx of capital from outside the city.
AT least S. 600 900 or 81, 600 900 have come from
San Francisco in the last week by transfer
through the United States Treasury
As mentioned last week, also in connection