Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-04
CHICAGO STOCKS DOWN.
BOTH CHANGERS AND THE INDUS
TRIALS ARE ATTACKED.

Diminished Grain Exports Responsible for
the Hammering-The Market Feverish
and dMixed-Hocking Valley Scores About
the Only Advance-EIeventh Hour Rally.
NEW YORK, Feb. 3.-The falling off in the
exports of grain is having considerable in
huence in the stock markets, and indicates
that there will be a falling Off in the earn
ings of some railroads during January and
February. The feeling of confidence that
the exports will soon again become large
continues, and that there will be CORE
spending improvement in the prices of rail-
road securities is not to be doubted.
The market to-day was feverish and very
much mixed all day, and the good buying
of Western Union, Mania ttan, Wheeling
and Lake Erie preferred and Lake Shore in
the foren oon was more than Offset by the
heavy selling in the Industrials, Atchfson,
Union Pacific and Louisville and Nashville
later in the day, although the squirt in the
CoalerS had a good effect for some time.
There seems to be a strong impression that
there will be an increase in the dividend on
Western Union when the next one is de-
clared, and the strength of the stock is verv
pronounced, aided by the impression that
the Gould interest is now ranged on the
bull side.
The depressing influence to-day, however,
came from Chicago and was e1erted most
vigorously in the Industrial stocks with
which that center is identified; but the
losses in the afternoon drive, which brought
the prices of many stocks down to a lower
level than they have been for some time.
Distillers' was, of course, the most promi-
time after the opening decline, it gave way
with rush in the afternoon, accompanied
by Chicago Gas and the Cordage stocks,
whose high prices invited an attack. The
extreme loss on the latter was 80 per cent,
while the others were not far behind.
Among the railroad list Louisville and
Nashville continued to yield right from the
opening, while New England, after a weak
spell i'll the forenoon, was held quite firm
against the weakness of the rest of the mar
ket during the remainder of the day. Bur-
hngton WAS feature of the late drive, but
its early improvement prevented any ma
terial loss for the day.
The rest of the market, after a steady
opening, developed considerable strength,
the demand was at no time urgent, so that,
with the pressure brought to bear by the
bears, prices yielded slowly all along the
line. The concessions were in no case ma
terial outside OF the shares mentioned, and
q slight rally occurred in the last hour
The market closed heavy to weak at or
near the lowest prices. The Cordage stocks
the common list lost 81 per cent. Other
material declines were: Disrillers, 2ss; Chi
cago Gas, 2; New England, 15s; Louisville
Hooking Valley was remarkable for it's
strength in the afternoon, and it scored
net advance of per cent, but the other low.
priced shares were in no way remarkable
during the day.
Total sales of stocks to-day were 349 723
shares, including: Atchison. 20,S70: Chicago
Gas, 90 065: Delaware, Lackawanna and West
ern, 1850; Erie, 6.12O: Hooking Valley, 1910:
Louisville and Nashville, 1850; Missouri
Pacific, 1900; Northwestern, 432O; Northern
Pacific preferred. S,05s; New England, 1887;
St. Paul, el9O0; st. Paul and Omaha, 42l0;
Western Union. 81, 1902; Union Pacific, 9,229
Railroad bonds we're again more animated,
but there was considerable selling of the
speculative issues and while the majority
of the list showed a firm temper the ad-
vances were few and some important de-
clines were established: Atchison incomes
$3.50 900: Union Pacific notes,
Sl99, COO, and Chicago and East Illinois
Is, $1,000 to the sday's total of $3.057, COO.
Iowa Central frsts lost at 90 and Edison
Electric at 1Ol33, while Long Island 5s rose
to 81; Kansas City and Pacific firsts to rs;
Wabash firstS, u TO 1861.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
iay. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON. oldest Pittsburg MEM
Ders of the New York Stock Exchange, 81 Fourth
avenue: