Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-28
NEW YORK STOCKS.
The Sugar Trust Will Probably Be Dissolved
But No Receiver Has Yet Been Ap.
pointed-Heavy Buying Move
ment in Chicago Gas.

! ment in Chicago Gas.
NEW YORK, October 27.-The stock market
to-day received the benefit of the unexpectedly
favorable bank statement of Saturday, and the
improved temper in London. The foreign
houses were considerable support to the mar
| ket, especially in the early dealings but the
| bulls have become so disheartened by the long
and rapid declines of late that they made lit
tie attempt to improve quotations, and the
bears, who are now as aggressive as at an
time, Notwithstanding the failure to force
further liquidation during the past week, were
active throughout the day, and in a few stocks
their hammering operations were rewarded by
the marking OF lower quotations.
sugar Rehneries, however continued to be
the most prominent feature of the market and
story that the Attorney General of this State
had rejected the final plan of reorganization
had the effect of opening the stock off 9 Der
cent. Before the opening, however, and imme-
dlately after there was nood of information
gathered from different sources which thor
oughly discredited the story, and covering of
shorts In the certificates went on at rapid
rate. with the result of lifting the prices Of the
point almost all of the loss of the early portion
of last week had been recovered. The bears.
in the meantime, pegged away at the railroad
list and made specially of Burlington and
Quincy, the attack being accompanied by n re-
newal OF the old rumor of an issue of bonds by
the company, though nothing new was learned
about the matter The story, however, served
its purpose as an aid to the hammering of the
bears, and 2 per cent was knocked off of the
value of the stock by 2P.M.
There was also heavy selling of Chicago Gas
on orders ostensibly from Chicago, and new
rumors of trouble among the Companies
composing the trust were Circulated
and before the close 81 per cent had been
taken from the price of the stock The general
list, however, failed to sympathize with these
movements to any marked extent. and while
the opening decline in Sugar and the steady
pressure by the bears upon the leading shares
caused slight depression in the fol- enoon. the
improved feeling in the last hour with the de-
sire to cover shorts, which became more pro-
nounced, together with the sharp rally in
Sugar, helped to recover the losses in the rail-
road list, and final prices are generally upon a
slightly higher level than those of the openipg.
The bears brought considerable pressure to
bear upon Union Pacific, Louisville and Nash
vile, Atchison and North American but while
considerable business was transacted in those
stocks. no material decline was made at any
time
The market closed fairly active and strong ar
the improvement, although Sugar reacted over
per cent in the final dealings The list to- |
night shows a large majority of advances,
which are generally for small fractions. but |
Sugar is up lss and Silver Certificates IL, |
while Chicago Gas is lI lower, and Burlington
and Quincy lS.
The dealings in railroad bonds were rather
more than usual barren of feature to-day and |
with sales of only $500 700 there was no appar. |
ent tendency OF prices in either direction, and |
So.a.o's - Ao"'ute VI HiberesI InrOuRnOuL |
the day. Government bonds have been dull, |
and steady to firm. State bonds have been en- |
tirely neglected.
The Post says: 1t must not lie assumed that |
LONDON settlements have been completed. To- |
day Il the first ''naking.up day." tomorrow Is |
ticket day." Which is the final adjustment |
OF the amounts of the new loans re-
CURED by brokers from the banks to enable |
them to carry the stocks of their speculative |
customers another two weeks. Wednesday is |
the day when the balances are actually paid. |
But the chances are that ii, in consequence of |
the decline OF stocks since the last settlement |