Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-23
COAL SHORTS FRIGHTENED.
THE RESULT Is A MUCH STRONGEF
MARKET IN STOCKS.
Rumors OF an Alliance Between Reading
anu Jersey Centrai-Buying That Seems
to indicate Deal in Sugar Refineries-
Railroad isonds Active.

Rumors OF an Alliance Between Reading
amt Jersey Centrai-Buying That Seems
to Indicste Deal in Sugar Refineries-
Railroad lsonds Active.
NEW York, Jan. e2.-The market to-day
showed much more steadiness and q decided
increase in strength, though the operations
| of note were still confined to few stocks,
while the general list followed without max
ing any material change in quotations.
The shorts were frightened, especially in
the Coalers, the Grangers and the VanGer-
bilts. and there was, in addition, good buy
ing in Missouri Pacific. Louisville and Nash
vile, Burlington and Wheeling and Lake
Erie. The strength of I.ackswanna is be.
lieve6 to arise from squeeze of the shorts,
though there were rumors all day OF an al
lance with the Reading and Jersey Central
by which competition in the trade would be
narrowed, and possibly other advantages
realized. These lacked confirmation, how
ever, and the movement against the shurt5
receives ail the credit for the sharp upward
turn in the Coa!ers
More strength was seen in the Industrials,
and all made substantial improvement. The
general opinion on the street seems to be
that some sort of deal is on with the out
side refners, which accounts FOR the strength
in Sugar on so light business. The,West
took the Graugers fully, and the buying in
tine low priced Vanderbilts was noticeable,
Omaha being the particular feature on the
final dealings. Among the low-priced
shares. however, were the Lake Erie and
Western stocks, which made further sub
stan:iai progress toward higher figures on
comparatively larger transactions.
The market opened active and at regular
changes, but the animation WAS all in the
Coalers. and in the first half hour the deal
ings in Reading and Lackawara amounted
to very large figures. Lackawanna was the
1924 then VAS knocked down by a deter
mined drive by the bears to AL The rally
was equally rapid. however, and it reached
1885 Which proved to be its best for the
day. Reading moved in close sympathy,
but within narrow limits, and before the
forenoon was spent they had sank back TO
the rest of she list in point of activity.
The Grangers came more to the front as
the interest in the Coalers subsidized and
later the Vanderbilts became the leading
feature, Northwestern taking the lead of the
former and Omaha the latter. The market,
however, was quite irregular in its move
ments throughout the day, and closed quiet
and firm after the rally with the Vanderbits.
Prices at the close were generally small
fractions better than those lasE evening, but
Omaha was mp "a: Sugar. 2; Northwestern,
rs, and Missouri, per cent.
The total sales of stocks to-day were 3s1, 194
shares, including Atchison, 9,420: Chicago
Gas, 1900; Della ware. Lackawanna and West
ern, 81 800: Erie, l., $50: Louisville and Nash
vile 16. $50: Missouri Pacific, 500: North west
ern, IA Uo; New Jersey CsnGral, 64oO: North
ern Pacific preferred, lO,s75; Reading, 50 10;
St Paul, -. lje: ST. Paul and Omaha, 65, 400;
Union Pacific, $3.50. ~
Railroads were active as usual with firm
temper throughout, and many material ad-
vances were scored. The Chicago and Erie
incomes were again the chief feature and
rose 19s on sales of 2l0. 600. The Kansas and
Texas seconds furnished l24.0OO and Rock
Island 5s $4,000 to the total of 27lSO3O.
Among the gains Ohio Southern As with 2k
to 64%, were conspicuous.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY 4 STEPHENSON. Oldest Pittsbure mem
bers of the New York Stock Exchange 81 Fourth
avenue.