Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-02
ket. though disposition was shown to CON.

net, though . disposition was shown TO con-
tinue the covering Of shorts. To this de-
mand the bears opposed further drive at
the market, but it was directed at Sugar, in
all probability to mask the coverings in the
regular list.
per cent better than last evenings figures,
Dut the pressure brought to bear in the
early trading knocked sugar Off per cent,
and others fractional amounts. The pressure
was w1thdrawn before the expiration of the
nrst hour, when disposition to discount
favorable bank statement appeared, and
prices shot up rapidly all along the line.
Burlington rose 2per cent from its lowest
ngures, apd the rest Of the list followed
closely.
The bank statement proved to be not so
favorable as expected, the surplus reserve
showing q small decrease, while deposits
were materially smaller than last week. The
upward movement was checked at this
point, but the best prices were well held,
and no reaction was had. There were few
marked movements among the inactive
stocks, and Evansville and Terre Haute,
after rising from 1l41% to III, reacted to ia,
wnhe Cordage preferred rose from S71a to
100. and Tennessee Coal rose per cent.
=, The market closed dull but firm at about
the top figures. The final changes show
material advances in many cases, and Bur
hngton is up l5s: Western Union, ~, Atchi-
son, Cleveland, Cincinnati. Chicago and st.
Louis, Chicago Gas and Louisville and Nash
vile, each IH, and Northwestern, Cordage,
Northern Pacific preferred and Tennessee
reached s8Hi listed and il, 1eo unlisted
shares, only st. Paul, with u,050 reaching
five figures.
Railroad bonds were again very dull,
out while an irregular temper was shown in
general the active stocks were strong. The
nnal changes, however, are in most cases de-
oiines, and Lehigh and Wilkesbarre 5s lost
Sat 81, and St, Louis, yandalia and Terre
Raute flrsts, eA at l07A. Cleveland and
Pittsburg 7s rose to 12O The trading ex-
tended to only $4,000.
Some Bull Points.
John NJ. Oakley & Co.'S correspondence,
Watson Gibson, wired the following: 1.-THE
question of tight money is one which inter-
ests every broker and trader. Predictions
have been very free that we should look for
q very active money market, but with the
falling off of general business and the con-
servative methods which manufacturers,
merchants and brokers have been pursuing
there is not likely to be the demand antici-
pated.
"The West Will require some money to
move the crops, but there is alread good
supply in the Western banks for immediate
uses. AS for Wall streets demand for
money, prices are SO much lower that it
takes correspondingly less money to carry
stocks, consequently in the present con-
d1tion Of the market the needs are easily
the street are now ranged upon the bear
side of the market, and this fact alone is
sufficient to impress us with the belief that
it is about time to expect that the bull side
will soon show profit.
"Active imagination pictured SO soft dire
disaster that is to overtake our finances
that the bulk of those who follow Wall
street have grown to believe that it actually
exists, and will drop in upon us most any
time now without moments notice; but the
wonderful showing of financial strength as
displayed by US during the year past its
ability to part with large amounts of gold
coin and still have enough for all its own
uses, coupled with the great showing of it's
crops of cereals, ought to convince the most
skeptical that this country is sound and its
securities when well chosen are in the high
est grade of the worlds list Of investments.
1.-The feeling to-day, as evidenced by the
prices, was one of marked reinsurance, and
even the slight decrease in the bank reserve
had no prejudicial effect. We may have to
wait for confidence to mature, but we be-
lieve that prices are bound for higher
range. Short sales have been the thing for
q time past that have shown profits, but
purchases now made judiciously are in our
Judgment more advisable"
The Finish in Gotham.
The following table shows the prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by WHIT
NEY & STEPHENSON. oldest P1ttsburg members Of
the New York Stock Exchange, 81 Fourth avenue.