Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-31
NEW YORK STOCKS.
Stock Market Generally Waiting the Out
come of the Sugar Trust Litigation
Before Resuming gActivity-Some
SpeciaIfies Propipant

Specialties Prominent.
NEW YORK, October S0.-The stock marke
to-day was again in the main waiting one The
principal object of interest being the argumen
on the suit for the appointment of a receiver
for the Sugar Trust and while there was nc
lack of activity in the Granger stocks the gen
eral market was duh and without feature. The
market was nothing in the main but an effor
to cover shorts. but there was little success at
tending the attempts. The London market
was materially lower this morning. Our open
ing was made at from 1s to Il per cent lowel
than our last nights prices. while Louisville
anu Nashville was down "A.
The bears ignored the lower London market
however. and went In to cover with vigor un.
known of late. and duling the continuance OF
these operations which consumed the entire
forenoon prices in the active stocks, which
comprised the Grangers. Union Pacific, Louis
vile and Nashville, Atchison, Lackawanna,
Sugar Refneries and Chicago Gas, moved up
sharply at times.
There was said to have been news from
private sources of a favorable nature regarding
the Western railroad situation, and advances
of from n to ~ per cent were scored In the
railroad stocks, while Sugar was lifted to 69sS,
against 671z last evening. The news from the
arguments before the court in tile afternoon.
however. created bad effect, and Sugar was
ratified off to 6o7a. and thewhole railroad list
followed, the early gains being entirely wiped
out in most cases. Chicago Gas was the
one exception TO the rule, and 1t
stands alone in closing with material gain for
the day. Late in the day the news that the de-
cision was reserved. but that a modification
permitted the publication of the reorganization
plan created q favorable effect, and that plan
being regarded as favorable, there was a
material rally in the last hour in Sugar. The
railroad list failed to respond, however and
the close was rather heavy at the close at
opening figures.
One OF the features of the day was the
manipulation in Illinois Central upon the issue
of the report of earnings for the past three
months. showing a loss in net. 1t was ham.
mered down to 971a and. considering the limited
business done in the stock the offerings of
seller go days options were unusually numerous
at about per cent below the market. 1t closed
at IS, a loss Of ~ per cent for the day. The
strong spot in the specialties was Canada
Pacific. which, however, had been opened off
2 per cent, and recovered only half the loss
The final changes are irregular, but generally
for small fractions only; but Chicago Gas was
up ~ per cent.
Texas Pacific seconds were again the feature
of the trading in railroad bonds, and while
their fluctuations were confined to fractions
iness of Sl.37l, 600. The general market was
rather heavy, but there are the usual slight
changes this evening. The important ones
however, show a majority Of losses. Houston
and Texas first certIh ;ates are down at liz
Government bonds have been dull and steady.
State bonds have been dull and steady.
The Post says: Exchange was 12c on the
pound lower this morning, which some people
think indicated the buying of stocks for Lon
don account. A private cable from London
also said: Investors are the principal buyers