Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-18
BULLS DISAPPOINTED
ABOUT THE RICHMOND AND WEST
POINT TERMINAL.

That Stock Goes Down, While Sugar Shoots
Upward-Other Changes Immaterlal-
Considerable ctivity in the Grangers,
Especially Union Pacific - Railroad
Bonds Quiet
NEW YORK, March T.-As was to be ex-
pected, the reorganization plan of the Rich
mond and West Point caused some disap-
| pointment in Wall street to some interests,
and the realization by such parties was
taken advantage of in the early trading to-
day to depress both the stocks and the trust
bonds. The concessions made in these Sc
curities were very material, but the rest of
the market, Willie giving no evidence of
special import, refused to follow the lead of
Richmond and West Point, and displayed
throughout most of the day decidedly firm
nipulation OF Sugar contributed something
but the buying OF the Changers was the
feature Of the dealings, and st. Paul, Atchi-
son and Burlington worked up fair volume
OF business at advancing prices and gave
character to the whole list.
Buying of Western Union and Northern
Pacific preferred was also noticeable, and
the market displayed temper which it has
not shown for some days, though the Dusi-
ness, as whole, lost little of the professional
character, and the volume remained small
while in most stocks the fluctuations were
still of the handtO-mouth order, and the
business done was strictly on a parity with
it. The advance in Sugar, however, was the
special movement OF the day, and with the
circulation of rumors OF the new combina-
tion there was considerable buying for the
short account, which has been frightened at
of the drangers however, there was little
animation force to the upward move
ment and the changes in quotations were
generally of the smallest proportions.
The opening of the market was made at
small gains over the close of last nights
figures, as rule. The sudden drop of per
cent in Richmond and West Point preferred
was the first change, with the loss OF l1s in
the common stocks. On the other hand,
Sugar was specially strong, and during the
day its price was advanced per cent. drag
whole list appreciated slightly during the
forenoon The buying OF the Grangers,
Western Union and Northern Pacific pre-
ferred became noticeable after that, and the
general list responded more freely to this
Improvement though fluctuations were still
kept within the usual narrow limits. Rich
its early loss, but the common stock only
partially, while the bonds FULLY recovered
their losses.
The late dealings, however. were marked
by severe pressure to sell from bear sources,
and in the last hour prices melted away
more rapidly than they had advanced,
and most or the gains were neutralized,
ton ' were We % lost i Richmond i-'as and i West West
Point went down to still lower figures. and
the Coalers sympathized. The market final
~ cioseu generally Qulet DuG, neaVy, ut Dut
slight changes from the opening prices.
While Sugar is up ~, Richmond and West
Point is down IL, but there were no other
material changes among the active shares.
Railroad bonds were again quiet for the
general list, but the Richmond and West
Point os were especially active and showed
during the day wide and violent fluctua-
tions, and, selling down from 69A to g. raj
lied to 50, but closed ut 67s4. with Il loss OF n
per cent. They furnished S6SOOOO out of u
total days business OF 81, ,s46, 700. The Read
ing issues were not so prominent as usual of
late, and no other marked movement was
seen in the list, the usual slight changes |
marking the dealings.
The total sales of stocks to-day were 244,- |
9O1 shares, including Atchison, 20 149; Erie, |
3, 800: Northwestern, $500; Northern Pacific |
preferred, $500: New England, 8, ,445; Read |
ing 46 1875: Richmond and West Point 90 0s0; |
ST. Paul, 26.950: Western Union, 1851.
The following table shows the prices of active |
stocks OH the New York Stock Exchange yester- |
day. Corrected daily for THE DISPATCH by WHIT |
NEY & STEPHENSON, Oldest Pittsburg members Of |
the New York stock Exchange 81 Fourth avenue |