Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-03
NO PANIC In STOCKS
Follows the Death of Wall Streets
Arch Manipulation
THE BEARS ASSAULT THE LIST,
But After Slight Wavering the Market
* Moves Steadily Upward.
A STRONG CLOSE on THE ADVANCES

NEW YORK, Dec. 2-Considering the
death of the most active manipulation of
campaigns in the stock market in the an
nails of Wall street, the stock exchange to-
day was singularly free from excitement.
Not only were the fluctuations in prices
comparatively small, but the volume of
business transacted was less than that often
transacted when there are no special events
or influences to stimulate trading. It has
been claimed all along by certain con-
tingent of Wall street spectators that the
death of Mr.. Gould would throw the
market into q state of panic, or
that the markets for securities would
least be violently perturbed. Exactly
the contrary occurred to-day. The market
wavered for a time and the bears made sew
eral attempts to get prices to lower level,
but on all the reactions buying orders ap-
peared for large amounts and each decline
was followed by higher quotations than
those previously current. Even the so
called Gould stocks yielded but slightly.
Missouri Pacific ran off IL, but western
Union, Manhattan, Union Pacific and
Wabash yielded only fractionally ana
In the general list American sugar de-
clmed IL, but as a rule the losses were
small. This was all the more surprising be-
shipment to Europe by to-morrow's steamer.
1t was learned subsequently that 100000
had been withdrawn. During the afternoon
a much firmer feeling prevailed, and as the
most buoyant. The market closed strong
ou the advance The sales aggregated S65, OIL
listed and 6l, 764 unlisted shares.
Railway bonds were generally firm. The
sales amounted to s., ,293, 900.
1t was known a good while before the
opening OF the market, and in time to tele-
graph the news all over the country, that
Mr.. Gould lad passed away, and ut the
opening the interest centered in his stocks,
especially Missouri Pacific. There was lit
tie stock for sale by commission houses, but
it was surprising to see how very little stock
came op the market Itshowed conclusively
that the public at large did not hold any
large quantity of stocks on speculation, but
that the big people carry the bulk of the
holdings. Missouri Pacific was the only
weak stock of the group and this was sold
down on what appeared to be matched Or
ders. While the process of marking down
Missouri Pacific was going on the bears were
buying the general market, but were not
able to accumulate any large amount. Dur
ing the afternoon the shorts made heavy
attack on the whole list throwing over all
the stocks they had previously bought, and
made quite an impression on prices, but de-
cided buying OF New England closed prices
at the best of the day.
We understand that deal between New
England, New York and Northern is near
being consummated. President Mcleod
and the Boston and Maine people are work
ing hard to bring it about The rise in New
England was very sharp, but we think it
will ultimately sell a good deal higher
There is no reason in the world why the
death of Mr.. Gould should affect prices one
way or the other; his affairs have been in
the hands of his sons George and Eddie for
some time, ana they will no doubt adopt the
same policy as their father.
About 81, SOC, 600 gold will go out by to-mor-
rows steamer and we understand that some
more will go next Tuesday. 1t looks to us
as If a little further rally would set in, but
inasmuch as we will have to export a good
deal of gold this month, and as this Will no
doubt make higher rates for money, we ad-
wise our friends to sell on rallies and buy on
declines.-J. S. Bache & Co. to Oakley & Co.