Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-26
NEW YORK STOCKS.
Market Opens Irregular and Final Prices
Iowa Broader Market May be Looked
For-Probable Changes in Man
agement of Union Pacific


NEW YORK, November 25.-The stock mar
ket to-day was less active than usual of late
and there was a reaction of material propor-
tions all along the line. Many evidently felt
that the pace of the improvement in values of
late has been too rapid, and were prepared to
take profI1 already accepted, while the same
sentiment gave the bears courage to again try
their hands, The London market reports
showed that there was an abundance of money
at low rates there, and the market for Ameri-
can stocks was reported to be higher, but the
news from South America was not SO encour-
aging. the premium on gold IN the Argentine
being up to very high figure again, and that was
expected to be the possible cause of decline
upon this country for gold to supply the want
by England. There was decided weakness:in
sugar on the decision yesterday, and these
causes operated with the fact that day after
tomorrow will be holiday, which induces
liquidation on both sides of the account to
cause recession in values for the time being.
The opening was irregular, as usual, and the
early trading even developed some strength,
especially in the grangers, after the first de-
cline. There was marked absence of the sup
port which has kept the market going on the
up tack of late, aud the loan crowd developed
the fact that there had been material reduc-
ton in the outstanding short interest, and the
early demand being satisfied, the pressure to
ward direction. The bears and traders ham
mered the list quite impartially and every
thing on the list soon showed the effects of the
operations for a decline. The after
noon witnessed general drop all
around, and while Rock Island and some
of the others showed a stubborn resistance to
the pressure they all succumbed after a while
and Joined the downward movement in earn
est and lost not only all the early Improvement
but something In addition. st. Paul Union
Pacific and Atchison led the list in activity.
but Jersey Central and Missouri Pacific dis
played most weakness while the low-priced
specalties, which of late have been leaders in
the downward movement, were to-day very
well held. The decline received no check and
the final prices are in most cases the lowest of
the day, the market closing weak and active
As usual after reactions, q broader market
may be looked for. and it is likely chat the an
nouncement of change in management in
Union Pacific, which is expected to-mor-
row, will be used to start the market
again. The Gould party left this
city this afternoon to be present at the
Union Pacific meeting to be held in Boston to-
morrow. Wall street begins to again attract
attention as offering the best opportunity for
both investment and speculation, and the ease
with which prices have been advanced shows
that a large amount of securities have been
taken from the street during the recent decline
in prices. The final changes to-day are almost
all in the direction of lower figures Sugar is
down AZ Jersey Central 2Z, Missouri Pacific
~. Chicago Gas. Burlington and Lackawanna
each III, G. Q. e. & st. L ~, Atchison, st.