Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-09
A WHIRL In SHARES.
THE LARGEST DAYS BUSINESS SINCE
THE PANIC OF 1886.

/ Its A ctivity Mostly in the Coalers, Especially
Reading-Erie Goes Hand in Hand With
the Leader-Coal Road Securities Fore
most in the Bond List.
NEW YORK, Feb. s-The stock market to-
| day was more active than on any day for
| years, and we must go back to the panic of
| 1856 for parallel to the enormous business
transacted in both stocks and bonds at the
Stock Exchange to-day. The Coal stocks
were again the great feature of the day, and
the unprecedented activity in Reading was
not only maintained but surpassed the
transactions in that stock, being the largest
ever known on the Exchange. At the same
, time the late strength developed in the
anthracite properties was fully maintained.
and heavy advances were scored in all Of
them.
For some time this morning there was
nothing in the market but the Coal stocks
and Erie, which latter was also heavily IN
demand on the theory that anything which
helped the Coal trade would be of benefit to
the Erie. The transactions in these stocks
we're more than half of the total business OF
the day. The Improvement in values was
extremely sharp in the early trading, but
with the diminution of the enormous trad
ing prices became more settled, and, while
the best prices were not reached until the
last hour. there were frequent fluctuations
in the downward direction. The extreme
advance in Lackawanna reached 81 per
~ per cent: Delaware and Hudson being
more moderate in its changes, while Erie
rose 216.
The Strength in the Coal stocks did not
affect the rest of the list to any appreci-
able extent during the early trading, and
the bears and traders were still disposed to
hammer the general list, as usual, and in
Union Pacific over per cent was lost before
the stimulus reached the rest of the list.
The steady and unprecedented gains made
the shorts uneasy at last, and as the morn
iyafr
the Changers, Louisville and Nashville and
Northern Pacific preferred, as well as some
of the low-priced and specialties. Prices
began to rise, and before the close of bust
ness the early losses had not only been re-
covered but material amounts in addition,
Burlington, Northern Pacific preferred,
Union Pacific and some others being by
turns remarkable for their advances.
There was a sharp reaction in the Coalers
in the last few minutes, but while Lacka-
wanna dropped from 159 to Isl itclosed at 15s,
list was held well and the market closed
active and strong generally at close to the
highest figures OF the day. The final changes
in the general list are ali large fractional ad-
vances, but Lackawanna is up 81; Reading 4;
Jersey Central, 81, and Erie, ~.
Total sales of stock to-day were set, ,69l
shares. including Atchison, 81, 100; Chicago
Gas, 7,5O0 Delaware, Lackawanna and West
ern, "a, 200: Delaware and Hudson, 5,355; Erie,
1l0,600; Louisville and Nashville, 1000; Mis-
souri, Pacific, $500: Northwestern, 4 100;
Gu auoIiCdIl, f,IOU, new O6TScy SeHIIdl,
1890; Northern Pacific, preferred, 80, Is9;
Reading, 275, 700 Richmond and West Point,
23,070 st. Paul, 16, ,S63; st. Paul and Omaha,
6, 100; Union Pacific, 17,500;7 Western Union,
1900.
As the coal stocks monopolized the at
tention in the stocks, the bonds of the Read
ing with the help of Atchison incomes, fur
nished more than half of the total trans
actions in that class of securities. The
strength, however, was all in the junior
issues, and while the thirds rose per cent
to NI,a de- . %rE n.
scored only small fractional gains. The rest
of the list being completely overshadowed
were firm without material change in prices |
The total transactions reached Sc, 392 0CO. out |
of which Reading firsts contributed $5S7 OOO
the seconds 1884, 0O0 the thirds 1921 600 and the
Atchison incomes $49l 900
The following table shows the prices of active |
stocks on the New York Stock Exchange yester- |
day. Corrected daily for THE DISPATCH by |
WHITNr STEPHENSON. Oldest Pittsburg mem |
bers of the New York Stock Exchange, 81 Fourth |
avenue.