Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-13
LOST ON LIQUIDATIONS.
A FEW PROMINENT FEATURES IN
STOCKS AND BONDS.
The Majority of Transactions Are in Read
ing. Which Suffers From Reports Of
Coming Prosecutions in Pennsylvania

| lhe Majority OF transactions Are in Read
ing. Which Suffers From Reports oi
Coming Prosecutions in Pennsy1vanis-
The New Syndicate Booming B. q o.
NEW YORK, March 12-The stock marke,
to-day suffered from iquidations on the ad
| vances of the week, and the list presented q
dull, but slowly dropping appearance, leav
| ing most stocks at small fractions lower
| than last evening. There were few special
| features which gave life to the dealings,
| conspicuous among which were the Rich.
| mond and West Point stocks, the Coalers,
| the Industriais and Baltimore and Ohio.
The transactions in Reading were again
| more than the half Of the total dealings in
| listed shares, and runnors of action against
| the combinaHon by the State authorities OF
Pennsylvania was the occasion of heavy
| liquidation of long accounts in the stock. All
the other stocks interested in the deal. how
ever, were dull, though sympathiZing in the
downward movement in Reading, and all
| scored even larger losses than the leader.
The rumors and expectations of a favor
ceedings IN Richmond and West Point made
those stocks the strong features of the ac-
tive list and the preferred made a very
sharp improvment,w while the common, which
was very largely traded in, was held ut close
to its first price.
The new rumors in regard to the control
of the Franklin refinery by the Sugar Trust
| was the occasion of a further material i'm
provenient in the prices of the latter stocks,
but the preferred failed to hold its gain, and
late in the session the decline in the COM
mon from the best figure became important.
The Boom in the b. & o.
Among the inactive stocks the Baltimore
and Ohio stock was specially strong on buy
ing or manipulation. supposed to be for the
account of the syndicate which has lately
taken block of the stock.
The opening was made at irregular changes
from last evenings figures, but the Rich
mond and West Point stocks and the Sugar
were all more than l per cent
mgde ursher asS eans IN shs
early dealings, but the weakness of the
Coalers was initiated by the rest of the list,
and slow but steady dropping tendency was
seen throughout the rest Of the session, in
which the Sugar stocks Joined toward the
close. Except in the cases mentioned, how
ever, the whole list was kept within the mar
rowest limits, and the changes in quotations
were, as rule, insignificant
The market closed active and heavy, gen.
orally at about the lowest figures. The final
advances.Richmond and West Point pre-
ferred, 81 per cent, and Sugar, IL; while
Lackawanna lost ~; Jersey Central, lsSS;;
Delaware and Hudson, ~ and Reading and
Cordage each per cent.
The total sales ofstocks to-day were 257, ,332
shares. including Delaware, Lackawanna
% Ere e New Ensand s ssaa
ing, l4, ,232: Richmond and West Point,
S5,se5: ST. Paul, $500.
Railroad bonds were like the share list,
generally quiet within narrow limits but
the activity in a few issues brought the total
business up to respectable amount The
Richmond and West Point 5s led, with $780,
00O Reading thirds following with $295. 900,
and the seconds with $1Os, 900 out OF a total Of
81, 40 000.. The changes. as rule, were in
significant, but considerable irregularity
existed and while Canada Southern flrsts
rose ~ to Ito, Indiana, Decatur and Spring.
field rose to H.
Richmond tho Feature.
Watson & Gibson wired the following to
John N. Oakley & Co.: "This seemed to be
Richmond day. and the securities OF this
concern rose as il they were going to be
finally benefited by the proposed reorganiza-
ton. There has been so much disappoint-
ment in this matter and so many losses have
been made recently in fooling' with these
stocks and bonds that traders are pretty
thoroughly disgusted. The reports that
came out a month ago Of the formation Of .