Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-08
PROFESSIONAL HAMMERING.
A SPECIAL PRESSURE UPON ALL OF
THE PACIFIC STOCKS.

| The Loss of Pacific Mail Steamer Has
Some Efect-Coalers Firm on Light
Transactions A Firm Tone Held in
the Main.
NEW YORK. Dec. THE stock market was
a little more animated to-day than usual for
| the last tive weeks, and while displaying on
| the whole firm tone in the general list the
| pressure by the professionals upon a few
| stocks gave q rather weak chara cter to the
! market.
! The movements for most of the list, how
| ever. were like those for the past month
! small and insignificant-and while there was
| good buying of many of the prominent
| shares notably the Vanderbilts, the Indus
| trials and Louisville, there was special
pressure on the Northern Pacific stocks, and
later on Missouri Pacific. At the same time
Union Pacific sympathized with the weak
ness in these shares: Pacific Mail was sold
down on the loss of one of its steamers.
There was during the day undoubted evi-
dence that q buying power is in the market,
and the purchases of commission houses
gave n strong temper to the forenoon's deal
Wizards failed to impair to any great extent.
In addition to this, the trading in the Coal
stocks looked greatly like covering, and
those shares were firm throughout the day
on very light transactions. Northern Pacific
preferred was under the hammer through
out the entire day: its early loss was signifi-
cant, the common following closely, but it
was not until the late afternoon, when the
Missouri Pacific was attacked with such
vigor, that the general list gave evidence
of being affected in any way by the pressure
The opening was generally at small ad-
vances over Saturdays prices, and notwith-
standing the weakness in the Wizards the
general list, led by the Omaha stocks, the
preferred rising to u. per cent, rose fraction
IL " as n rule, and the firmneSs lasted until
well into the afternoon though there was
the usual dulness in the late trading up to
the time when the early raid was resumed.
More activity than any previous time of
the day was then developed and prices tum-
bled quickly in the stocks attacked, the rest
OF the list following reluctantly and slowly
The final dealings gave additional evidence
that cornering was the object of the attack
and a slight rally closed the market firm,
with most of the list close to opening figures.
The final changes of the day were generally
insignificant and about equally divided be
tween gains and losses; but while Chicago
Gas is up 19sc and Omaha preferred nc,
Missouri Pacific is down 2Isc Northern Pac-
ific, preferred, l34c, and the common, I36c.
Railroad bonds were more active than
usual of late, and, while in the share list the
temper was somewhat mixed the rise of 9
per cent in Louisville, New Albany and Chi
cago consols to l0l12 gave the key to the
market for the day. Other changes, how
ever, were generally of no Importance, even
though the Atchison incomes contributed
Sill, 900 and the Wabash seconds $l19 OCO to
the DAVIS total of 81, $4,000. The number of
issues traded in was even larger than usual |
for the past week, and the tone was gener-
ally firm. The highest and closing quota
tions were: ~