Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-26
RAILS ALL RULE WEAK
But the Industrials, With One Excep-
tion, We're Quite Firm.
GOLD ENGAGED FOR EXPORT
And Northern facifcs ecreaSed Earnings
Affect Railway Shares.
RAILWAY BONDS ACTIVELNDIRREGULL


was weak for the railways from start to fin
ish. In the early trading the transactions
were quite moderate, but as the afternoon
drew to a close the bears made vigorous
attack all along the line, and the trading
was attended with considerable animation.
There was little in the news of the day to
affect prices particularly one way or the
other. outside of the fact that the 5000, 900
gold will be shipped to Europe tomorrow.
Northern Pacific preferred was weaker on
the decrease in earnings for the third week
of November, and Pacific Mail by state
ments that the Panama Railroad Company
would shortly have its own line of steamers.
The decline in prices was equal to 2per
cent in Chicago and Eastern Illinois COM
mon. ~ in Reading, 1ss in Pacific Mail, st.
Paul and New England, ard "A to l in the
other railways.
: The industrial group was comparatively
firm except for United States rubber COM
mon, which sold down % to 40. American
Suear advanced on large purchases from
lo914 to 10Y and reacted to lo954. The net
losses in Chicago Gas and Distilling and
Cattle Feeding were merely fractional Con-
solidatei Gas rose so to l2s, but later re-
ceded to l26. when it became known that
the quarterly dividend had not been in
creased. The directors declared the usual
IL per cent. The market closed weak for
the rail ways and steady at some reaction
for the industrials.
Railway bonds were fairly active. The
market was irregular. Readings were no.
ticeably weak. The Southwestern issues
were also easier st. Louis Southern Sec
onds however, sold at 721S, rise of *
points from the last previously reported
sale.
The bulls had been hoping for European
support CT prices, but, instead of Europeans
buying, they turned up selling this
morning to the extent of 10000 shares.
This was enough to take the starch out of
the 1ulls, and the market was weak, and in
the afternoon quite demoralized. Six huE-
dred thousand dollars in gold were with
drawn on Wednesday, and after weighing
the precious metal it was found to be o.
light weight, and it was thought that this
would keep the bankers from exporting
gold, but later in the afternoon 1t was stated
that Notwithstanding this the stuff would
go out by tomorrow s steamer.
The weakest of all stocks was Reading
for reasons which we have stated so often
that we do not deem IL necessary to repeat
them. The general list yielded quite easily,
and especially in the last hour the bears
made fierce attack on values and closed
with the market looking decidedly ragged
In all the confusion there was one strong
stock and that was American Sugar Com
pany. which was bought by insiders. 1t
seems to be quite sure that the next divi-
dend will be 81 per cent The company is
making a great deal of money and unless the
market is too weak this stock will see better
prices.
should go out at this season of the year, but
still the bears have been very active to-day
in selling stocks and decided rally NAV
come a any time.-J. S. Bache & Co. to Oak
Government bonds were dull. Close Of the
list: