Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-20
WHISKY GOES DOWN
On Heavy Trading and Nearly
ALI Other Industrials
Follow It.
THE RAILWAY LIST WEAK.
Northern Pacific Preferred and New
England the Strong Spots.
GOLD EXPORTS AND TIGHT MONEY
Together With a Little Bear Hammering
the Causes of the Declines.
THE RAILWAY LIST WEAK.
GOLD EXPORTS AND TIGHT MONEY
RATES RUN UP TO FORTY PER CENT
rsrEcrAL TELEGRAM TO THE D1sPArcH.1

rsrEcIAL TELEGRAM TO THE DIsPATcH.l
NEW YORK, Dec 19-The gold which
foreign bankers arranged to ship last week
was withdrawn from the sub-treasury to-day
and a small amount added to it, making the
total outward movement tomorrow S., 900,-
OOO OF this amount $4,000 came from
San Francisco and the remainder was OBJ
tained from the sub-treasury upon the
presentation of $500, coo gold certificates
and about IS, 400, 600 legal tender and treas
urv notes
A further sharp break in the prices in the
leading industrial shares was the pre-emi-
nent feature of the market. The decline
was caused by a well authenticated aud un-
denied report that pool which has been
active in Chicago Gas for some time past had
dissolved. The heaviest dealings and the
greatest net decline were in Distilling and
Cattle Feeding Nearly 10000 shares of
that stock changed hands within a range
OF Z points, resulting in a net loss of 4 per
cent The stock has sustained a loss of
about l. per cent within a week. and in
the face Of developments favorable to the
company. The fluctuations in Chicago
SdS NGI6 lullN ds MluS as buocC III LIS
tilling, and the net loss nearly as great,
but the transactions were less than half
as large. Sugar Refining was active,
but enjoyed better support than
either of the two just mentioned
and closed only ~ per cent lower than on
SATURDAY.. National Lead Jared about the
same as Sugar, but General Electric and
National Linseed Oil, on light transactions,
suffered material losses. National Cordage
was the only one of the group that recov-
cred all of its early decline. 1t closed
slightly higher than on Saturday.
In the railway list the heaviest dealings
we're in Reading That stock, in common
with other railroad shares, presented firm
appearance until late in the day, when the
bear contingent, emboldened by the success
it had accidentally attained, attacked it
with vigor. At the decline Philadelphia
came in as buyer and rallied prices some
what A similar onslaught was made
on St. Paul but was less success
ful. Chicago, Burlington and Quincy,
Atchison, Northern Pacific preferred,
New England, Missouri Pacific and
Rock Island were the only other railroad
stocks that received much attention. OF
these Northern Pacific preferred and New
ENGLAND closed fractiona1ly higher. Atchi-
son and Rock Island held their own and
Chicago, Burlington and Quincy and Mis-
souri, Pacific sustained slight fractional
loses.
Western Union was active and recovered |
two-thirds of its early decline, closing only |
y per cent lower than on Saturday.
The money market was excited the greater
part OF the day. Renewals were made dur
ing the first hour at 10 per cent. BY noon
the rate Tor new accommodations had run
up to 30 per cent per annum, and exceptional
ansactiOns we're reported as high as 80 and
40 per cent. The bulk of the busin ess was
apparently done at about 20 per cent