Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-26
STOCKS IN STRONG HANDS.
THEIR INHERENT VALUE UNTOUCHED
BY BEAR RAIDS.

Some Manipulation of Grangers for Lower
Prlces-Incrcased Interest in Richmond
and West Point-The General Business
Duller but Stronger.
NEW YORK, May 25.-The stock market to-
day was still less animated, but thcre was a
| gratifying change in the temper of the deal
| ings from weakness to strength, tho demand
! from the shorts causing the placing Of prices
| in the general list upon q materially
| higher plane, which even the con-
| tinued manipulation Of the Changers
for lower prices was not able to
restrain. The speculation, In fact, while still
more strength, which comes from the fact
that stocks are held in strong hands. which,
as long as the present rates for money are
maintained, are impregnable. Raids and
moment lower prices according to their
severity, bring no long stocks to market. 1t
has become a noted fact that prices, of late,
recover on much smaller volume of busi-
ness than they decline.
The market to-day was active in spots.
The early bear manipulation of the
Gransers. the increased interest in the
to the ray of hope offered by the Strong
Thomas plan. which resulted in sharp ad
vance in the stocks of the company. and the
squirt among the Coal shares in the after
noon, were the principal features of the day.
The strong undertone. however, was mraked
at all times, even when the prices OF the
Grangers were declining.
Opening prices, under the influence of a
further demand from the foreigners and the
shorts, were all from "a to ~ per cent better
than the finals Of last night, and further i'm
provement was made during the first hour,
which brought prices up to q level which was
in but few cases surpassed during the rest
of the day. The check was given to the ad-
vanoe by the drive at the Grangers, In
which both St. Paul and Rock Island were
specially prominent for weakness: but the
limit Of this reached the entire market after
the slight reaction, moved forward again,
though the progress was slow tor the re.
mainder of the day.
The special feature at this time was the
rapid rise in Cordaye preferred. which sue
ceeded in almost catching up with the com
mon before the close OF the day; but later
the Coal stocks again assumed the leader
ship in the market. Union Pacific was, also,
a strong feature, and the losses in the Gran
spare The market closed with squirt of
activity under renewed covering, and very
strong at the highest prices Of the day.
The total sales of stocks to-day we're 314 63S
ware Lackawanna and Western, s,7l0; Erie,
l0,2s6 Louisville and Nashville, 6,ll0; Man
haitian S3l3: Missouri Pacific, $780, North
American, 40: New Jersey Central, 345O;
Northern Pacific preferred, 1880: New Eng:
West West Pom Point is $50; St. Paul, aiss5; Union % Pa
cific, 8, 100; Western Union, 5606.
Railroad bonds were active, and while
Atchison incomes and the ding issues
were specially prominent in the dealings,
ness in the rest Of the list, the total reach |
ing s., 900.
stocks on the New York STOCK Exchange yester-
NEY & STEPHENSON, oldest Pittsburg members of
the New York Stock Exchange, 81 Fourth avenue. |