Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-06
fES Div.
REACTIONARY AGAIN.
BUT THE STOCK MARKET DISPLAYS A
STRONG UNDERGONE.

Industrials Lead in Strength-Two Pitts
burg Railroad Securities Quite Active
Bulls Irving to Buy Back at Lower
Prices-Railroad Bonds Very Active.
NEW YORK, Jan. 5.-The stock market to-
day showed rather reactionary temper,
and the volume of business was somewha t
smaller, but, while there was considerable
pressure to sell from all quarters, the new
buying continued on such scale that prices
in all The list were stubbornly held and
some stocks even scored handsome ad-
vnnces, though only in the Industrials were
these of special Importance at the close.
There was throughout the day . determined d
effort to bring about a reaction from the
strong upward movement of yesterday, and
the selling was credited in a large degree to
the bulls, who have sold ont and wish now
to buy back at lower prices.
The bears. however. taking advantage of
this, were active and aggressive and there
was in some directions disposition to en-
courage the reaction on the part of those
whose interests are supposed to lie in hold
ing the strength of the market. The mar
ket however while lower at the close as n
rule, showed throughout q very strong un-
dertone, the orders to buy being large at
every decline, especially from commission
houses
The low-priced shares again attracted a
great deal of attention, and among these
Louisville, New Albany and Chicago. Wheel
Rochester and Pittsburg. together with
Pittsburg and Western, were most conspicu-
Gus. The Industrials, however, were the
features for strength, and all the leaders
scored handsome gains. Among the usually
active list, New England was the early CEN
ter of interest; the renewal OF the old story
of deal with tine New Haven carving its
price in the forenoon to 1890: but there was
free selling at that figure. and it finally re-
tired Delowits opening price and even below
its last nights figure.
TI,ap ,,,.ifi
report that the interest on the incomes will
be paid, and it fairly took the place of New
England as leader of the market, both rs to
activity and strength. The other coal COM
Reading, however, though among the low
priced shares Tennessee Coal was very
prominent as well as the Susquehanna and
Western preferred. though each of these
stocks reacted in the final dealings.
The opening was generally firm at insig-
nifcant advances in most shares from last
nights figures; but selling orders appar-
entity from London, induced considerably
short selling, and after the first squirt on the
early demand the entire list reacted, though
loss of per cent i'll Erie preferred was the
only important con ncession at the time. The
market held stubbornly, however, and be-
fore noon the losses were regained, but only
to be lost again i'll the afternoon, the Indus
trials, in the meantime. taking the lead m
the upward movement; and Chicago GAS
was pushed forward from 741a to TSL, and
Disti1lers' from 6lH TO 81, each retaining
most all the gain a. the close OF business.
The new Lead stocks. on the other hand
were still weak and both lost over per
cent. There was some selling OF the North
ern Pacific stocks on the report that the
earnings would show a large decrease.
The market finally closed active and
fairly steady, after slight rally i'll the final
trading. Most stocks are small fractions
lower than last evening. while no material
loss occurred in anything. Chicago Gas,
however, is up S5s Distillers', 154: Northern
Pacific preferred, n. and Cordage, l per
cent.
The total sales of stocks to-day were 632, 2s7
shares including: Atchison, 1850: Chicago
Gas, 27.450: Erie, 81 $50; Louisville and Nash
ville T. 76O: Missouri Pacific, 1886: Northern
Pacific preferred. S.s2O Reading, So, $50: Rich
mond and West Point, ,943; ST. Paul, 20, ,3O5;
ST Paul and Omaha, 1910: Union Pacific,
a. O00: Western Union, H. los.
Railroad bonds we're still very active and
displayed the same nrmness without
material changes in quotations. and while
the Reading issues and some others were
lively only international frsts rose per
cent.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
& STEPHENSON, oldest Pitisburg MEM
bers OF the New York Stock Exchange. 81 Fourth
avenue.