Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-05
AN ACTIVE MARKET
PUSHED ALONG BY THE
NEW ORLEANS FIRE,

New York Stock Brokers Put in a Very
Lively Day-Ncw Englands ard Read
ings Take the Lead in Railroad
Bonds.
NEW YORK, April 4-The stock market was
still active to-day, and especially during the
forenoon, and it displayed recuperative
power at that time to which it had been a
stranger for weeks past. large borrowing
demand was developed for stocks indicating
the character of the selling OF the last few
days, and taking into consideration the con-
tiuued ease of money and the favorable ad-
vices from abroad, there was shown more
disposition by operators to buy at the con-
cessions already established, and the shorts
were correspondingly frightened into an ef-
fort to cover. At the same time the whole
list responded to the stimulus, and prices
we're lifted to q level higher than that
of Saturday. The one weak spot in the market
was New England and that only during the
early trading, the pressure upon 1t being
continued without any moderation and q
large business was done in 1t with q loss of
one-half per cent The stock touched 40. At
and covered with such promptitude that
the loss was not only made up but frac-
ttonal gain was recorded in addition. Among
the coalers, Delaware & Hudson showed the
widest fluctuations, its extreme advance
from Saturdays price being ~ per cent to
144L, while Reading at Sc WAS up IA after a
very large amount of it had changed hands.
AS New England was the center of an at
tack during the forenoon, Reading, after its
advance, was driven down again later in
the day, but the general list refused to re-
spond to this decline, as 1t was we'll under
stood that the attack was to veil covering
In other directions. The opening advances
were from Is to e per cent. and while the
early pressure caused some slight conces
sions in the first few minutes, the strength
in the coalers soon changed the general
drift Of prices, and the entire market was
lifted to materially higher level than that
Of the opening.
The market finally closed fairly active and
firm at fractional advances in most cases
over the opening figures. The final changes
are invariably in gains and Delaware and
Hudson is up 81; Sugar, ~: Iackawanna
and Northwestern. each IL, Atchison, III,
and Rock Island and Lake Shore each per
cent.
bonds was again the Atchison incomes which
furnished $l92. 900 out OF a total days busi-
ness OF 81, $4,000. 1t was also the strongest
on the list The market presented no other
have been dull and easier; States have been
dull and steady.
The Post says: "Heavy purchases to cover
shorts was the one characteristic of to-day's
stock market. This was the movement be-
gun Immediately after the early break OF
Saturday. Its con ntinuance to-day caused q
rapid and general advance. Saturdays early
decline was the elimination of the aggres-
sive movement for lower prices. To use a
bit of expressive Wall street slang, the stop
orders, without which no bear cam
paign can be effective, have now
been pretty thoroughly cleaned up The |
prices then touched marked very SUBJ
stantial decline from the inflated values OF
February and March. All this reflects very
heavy liquidation, almost wholly from pro- |
fessional sources. 1t means great loss in
nany speculative quarters; but what it
especially signifies is the shaking Off of it's |
burden by an overloaded Market"
Hubbard, Price & Co., say: "a fire in New
Orleans yesterday has been the main feature |
of the market to-day. The fear that the con- |
tracts sold against it in Liverpool and else |
where would have to be covered, resulted in |
giving us an advance of 10 points at the |
opening hour In Liverpool the same in
fluence was the basis of an improvement |
of from to 4.64. In our market, however,
the full advance was not maintained. By |
o'clock half of it had been lost. Aside from |
the fresh speculation that the fire has in |
duced, there is but little of interest in the |
separate connection with our market to-
day."
During the afternoon the market con tinue d
dull but steady; closing finally points ad-
vance on Saturdays prices.
The following table shows the prices of active |
stocks on The New York Stock Exchange Yesterday.
Corrected daily for THE DISPATCH by WMTNEYS & |
STEPHENSON. Oldest Pittsburg members of the
New York Stock Exchange, 81 Fourth avenue.