Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-12
A RELAPSE IN STOCKS
WIPES OUT THE MOST OF THE PROM
ISING EARLY GAINS.

Reading Very Active On Free Realizatfons
by Quaker City PeopIe-Dlstillers' the
Weakest Point-Advances OF New Eng
land and Chicago Gas Neutralizsd.
NEW YORK, Jan. 1.-THE stock market to-
day was still rather reactionary in its tenn
per- but the weakness noted was more the
effect of free realizations in Reading than
any desire to liquidate. in the general list,
and except in a few instances, the final
changes were insignificant. The market
throughout the day was inclined to settle
down to comparative quietness. and only
the heavy trading in Reading brought the
total transa actions up to the high figure they
stand at for the day, and the stubbornness
with which quotations held their level,
yielding only here and there and at inter-
walls to pressure, was very reassuring to
holders of stocks.
The West took the Changers, and the
declaration of the dividends on the first and
ulated considerable buying, but the flood of
securities poured out by the Philadelphia
people finally broke the strength of the gen.
eral hist, and almost everything was finally
ing figures. New England was still lead
ing feature of the market, and especially in
the early dealings displayed marked
strength, as did also Chicago Gas, but the
back, wiping out most of their gains.
Union Pacific was the leading strong stock
at one time, but its advance was not suf-
ficient to carry it against the late selling
movement. The weakest point in the mar
ket was Distilers'. which steadily declined
throughout the entire day and finally closed
with the heaviest loss recorded for the day.
The opening was generally at insignificant
changes from Saturdays prices and consid-
cradle activity marked the early dealings,
with some improvement in prices, though
.f1c Il
strength. The pressure became too much
for the decreasing demand. Prices yielded
before noon without making any important
loss outside of Distillers'. The Richmond
and West Point stocks were strong, how
ever, but moved i'll narrow limits, and
among the specialties only Pullman scored
a material gain. The whole market rallied
after the announcement of the dividends on
Reading, but later the selling for PhiladeI-
phia account wiped out the advances and
the list never regained its strength during
generally at small fractions below Satur-
days prices, but the only material losses
we're 27S in Distillers' and per cent in Read
ing. while Chicago Gas scored q final gain OF
The total sales of stocks to-day were 5lS,-
22S shares, including: Atchison, 81 $50: Chi
cago Gas, Is, ,9S5: Delaware, Lackawanna and
Western, 300; Erie, 4,794: Louisville and
Nashville. l9, 765; Northwestern, 3,25S; North
ern Pacific preferred, 9,S24; New England,
4o,7O0; Reading, 1a9,65O; Richmond and West
Point, Is, AGO; st. Paul, 2s.45O: Union Pacific,
Il. .70S: Western Union, 4S40.
Railroad bonds displayed the same temper
as stocks, and while retaining great deal
of their strength, failed to move outside the
narrowest limits. and the late selling of the
Reading incomes weakened the general list
to an apprcciable extent. The transactions
reached So 032, 900, but of this amount 55l eco
were Reading seconds and 352, 600 Reading
firsts; 1790G0 Reading thirds, and 237 0G0
Atchison incomes. Louisville and Nashville
unified As lost 21s ut 1915, and Ohio Southern
A. Eat 60.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON. oldest Pittsburg MEM
bers OF the New York Stock Exchange, 81 Fourth
avenue.