Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-06
OLD-T|ME ACTIVITY,
Some Remarkable Movements
in the New York
Stock Market.
FLUCTUATIONS ARE WIDE
In Sugar Refining, Reading and llli-
nois Central.
G0ULDS AND CHANGERS STRONG,
With Western Union and Rock Island Most
Conspicuous.
FLUCTUATIONS ARE WIDE
GOULDS AND CHANGERS STRONG,
ATCHIsoN AND KIPPER BARELY STEADY
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rsPEC1AL TELEGRAM TO THE DIsPATCH.1
NEW YORK, Dec. 5-To-day's stock mar
ket contained suggestion of old-time ac-
tivity. Some of its movements were re-
markable, for it has rarely been the case
that two stocks have been as active as
Sugar Refining and Reading were to-day,
and at the same time have fuctuated
so materially in opposite directions
Abnormally heavy trading in Illinois Gen.
trail was another noteworthy feature. That
stock enjoyed a sharp ADVANCE early In the
day on reports that the famous Lake
front" case, involving certain riparian
rights assumed by the State of Illinois and
enjoyed by the railroad company had been
decided in favor of the latter by the
Supreme Court of the United States. At
the advance the stock was supplied freely
by banking house heretofore interested in
the securities of the company, and when it
was learned that the decision was averse to
the corporation the stock declined per
cent. From the synopsis of the decision
that has come to hand it appears that
while it is technically against the company,
it virtually confirms its title to the i'm
pTOVem6QLS IL ndS IHdue upOH pAOpCl1g
which has been in dispute, unless those i'm
provements interfere with navigation. Un-
usually large trading in Sugar Refining re-
flected further liquidation, the reason Tor
which has not yet been made public.
Reading was comparatively quiet until the
last hour. Within that period over $4,000
full shares of the stock changed hands at a
maximum advance offs per cent. The buy
ing was described as chiefly to cover shorts,
and the motive was said to be q decision
favorable to the company in the suit
brought by q stockholder OF the Lehigh
Valley Company to restrain it from leasing
its property to the Reading Company.
The third stock in point of activity was
Distilling and Cattle Feeding, which, alter
selling at 693&, the highest price yet re-
corded for ii, closed 4 per cent lower than
on Saturday at 6s3z.
The Grangers were in the main strong,
and Rock Island, both OF which
closed half point higher than
on Saturday, though at recessions
from best prices. Other noteworthy move
ments were in Western Union, Missouri
Pacific, Northern Pacific and Atcnison. All
OF the Gould stocks were strong and higher,
but Atchison was barely steady and North.
ern Pacific heavy. Renewed selling of
Northern Pacific consolidated IS carried the
price below 20 and caused good deal OF un-
favorable comment.
Concerning the deliberations OF the none
tary conference at Brussels to-day's cable
advices indicate that England is not averse
to entertaining proposition to use silver
in amounts less than e. pro-
vided the Rothschild proposition is favor
ably entertained by the conference. 1t is
also learned that the altitude of the press of
this country toward the Rothsohild PROPOSE
tion is regarded abroad as extremely diplo-
matte and likely to imperI whatever chance
of success our Representatives had when
ain. The closing of the market was activ 70
and irregular.