Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-19
MANIPULATION OF BEARS
MORE TO COVER CONTR ACTS THAN
TO DEPRESs PRICES.

The Stock Market Alternately Active and
Dull-Corn Roads Still Attacked, but
With Less sucoess-A New Lease of
Strength for Reading.
NEW YORK, May ls.-The stock market to-
day was active and dull by turns, but the
animation, when shown, was still nothing
more than the apparent result of the oper-
ations by the bear party, their sudden drives
being attended by a marked increase in the
business in those stocks to which they paid
attention; but the cessation of their efforts
was invariably followed by dullness and
comparative stagnation in prices.
There was evidence of more support to
Northern Pacific preferred, and a material
rally occurred in that stock during the early
trading, but the attacks upon tie Gould
stocks and the Corn roads we're continued,
but without the success which attended the
drives at those stocks yesterday, and indi-
cations pointed to the fact that the manipu-
lation was more for the sake or covering
outside contracts than to permanently de-
press prices.
One of the features of the dav was the re-
newed strength and activity in Reading, but
the rest of the Coal stocks did not respond
to the advance. The most prominent opera
tors on that side were to-day on the street,
busy giving out orders, and the failure of
prices to decline much is accepted as evil
dence that the orders were rather buying
than selling ones. The attempt to make IL
appear that the GOulu party Is enQeaVOrlng
to depress prices made little or no progress
to-day, and the evident attack upon Bur-
lington sufficiently accounts for the anxiety
of certain operators over the Western
floods.
The opening of the market was at higher
figures, but the drives at the Goulds and the
Grangers soon changed the temper of the
dealings despite the strength in Northern
Pacific preferred and few others. Prices
were driven down all along the line, how
ever, and this was succeeded by n rally in
the afternoon, but which was. usual, ac-
companied by growing dullness in all parts
of the list. after a drive at Burlington had
depressed it over per cent. The market
for the rest of the day was almost feature
less.
The market showed some inclination to
weaken again toward the close, which was
dull and firm, generally nt insignificant
the day was Susquehanna and Western pre-
ferred, which rose "a. but, on the other
hand, North American lost ~ and Burling-
ton and Hooking Valley ex. per cent. The
trading reached 27S,56J listed and ii 81 un-
listed.
The total sales of stocks to-day were 2s9 Ss1
shares including: Atchison, 22,6l5; Chicago
Gas, 1885, Erie, 5000; Louisville and Nash
American, $3.50; Northern Pacific preferred,
1900; New England. 4450; Reading, &C, 500;
Richmond and West Point. 1000: st. Paul,
l7,laO: Union Pacific, Is, 1888: Western Union.
3o26: w heeing and Lake Erie, 600.
Railroad bonds were comparatively quiet,
and displayed less strength to-day than for
q long time past. many of the leading issues
showing small losses tonight: The only one
showing any special animation was Atchi-
SON incomes, which furnished $223 900 out of
a total of 81, 0OO.
The following table shows the prices of active
stocks the dsy op @f S1oGk
My q STEPHENSON, oldest Pittsburg members of
the New York Stock Exchange, 81 Fourth avenue.