Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-07
WALL STREET RUMORS
MAKE QUITE A LIVELY STOCK MAR
KET IN SPOTS ONLY.

The Reports Affect the Values Of Union
Pacific, New England and Richmond
and West Point-Foreign Buying a Fac
tor-Bonds Active.
New YORK, April 6.-The stock market to-
day was more active and stronger than for
many days past, and especially in the Coal
stocks material advances were scored. The
general list, however, still remained com.
paratively quiet within narrow limits; and
while there was the usual number of stocks
traded in, the interest was centered in three
or four, which gave character and activity
to the whole market. The bears found them
selves in an uncomi ortable position. for,
while there was still considerable vulnera-
bility shown in both New England and Rich
mond and West Point securities they were
confronted in the Coalers by determined
opposition.
There were the usual number of rumors
set af1oat in regard TO the possible failure of
the Richmond and West Point reorganiza-
tion plan and the advocates of lower values
we're enabled, by creating the impression
that insiders were Iiqudating in both the
New England and Richmond and West
Point, to drive both down Il per cent in the
early trading, while Richmond and West
Point dropped away per cent to 50. The
bonds followed and were forced down heav-
lily, but the support in the Coalers, together
with the apparent liberal buying for the for
eign account, TUNED the scale again, and
while rise of AZ per cent in Delaware and
Hudson was i'll progress the rest OF the Coal
st, ckS made subStan tial gains, ard Reading
was enabled to recoverits early losses, which
were afterward supplemented by material
advance.
Even the weak stocks later felt the stim.
ulus, and the very heavy buying to cover
shorts served to completely wipe ont the
loss in New England and most of it in Rich
mond and West Point. The foreign buying
was again an important factor in the situa-
tion, but only by inducing fresh buying
from dome site sources. The upward move
ment in the Coalers was enchanced by some
put under Vanderbilt control, while New
England was advanced on the idea that the
bear party in the stock had made its turn.
The principal influence In the market,
however, was the running of the short in
terest. and while there was no lack of new
buying, that interest caused the material
gains recorded in the leading active stocks.
Among the low priced shares there were few
features, but late in tho dav the Flint and
Pcre Marquette stocks came into promi.
nence, and the Cotton Oil shares had Il
marked rise. The only stock in the general
list to occupy much attention was Union
Pacific, about which there were rumors of a
change in the management, accompanied by
some good buying of the stock ut steadily
advancing prices The rest of the market
was quiet and held within narrow limits, as
usual, though st. Paul was heavily bought
for foreign account and was remarkably
active.
The market finally closed active and
strong ut or near the best prices of the day.
The whole list is higher, Dnd Lackawanra
scored q gain of 4r4:'pelawai.e and Hudson,
81; Union Pacific, 2ss; New England and St.
Paul. ~; Missouri Pacific, ~: Lake Shore,
15ss: Rock Island, N; Atchison and Ren ding,
TX. and many Others from to 2L per cent.
The total sales OF stocks to-day were 41o, s32
shares, including Atehison, 1853: Delaware,
Lackawanna and Western. 1860: Delaware
and Hudson. 1851; Erie 1850: Lake Shore
I, ,5a0 Louisville and Nashville, IL $50: Mis-
souri, Pacific, 64s0: Northwestern, l. 100: New
Jersey Central. 4. .0oo: New York Central, 4,COo;
Northern Pacific preferred s,49O: New Eng
land, 37477; Reading, Il6 1.O; Richmond and
West Point, 1000; st; Paul, 3S,s5s; Union Pa
cific "a 033; Western Union, 3, 242
Railroad bonds were more active and de-
cidedly stronger, though there was, as usual,
few material changes outside of the Rich
mond and West Points and the Readings.
The first named, after material Decline
Iully recovered, the others being firm
The following table shows the prices of active
stocks on the New York Stock Exchange yesterday.
Corrected daily for THE DISPATCH by WHITNEY &
oldest Pttsburg members of the
New York Stock Exchange, 81 Fourth avenue.