Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-15
SOME BIG DECLINES
And DemOralizatiOns Follow Ch0lera's
Invasion of New York.
A MAD RUSH TO GET FROM UNDER.
Eipper, lead, Sugar, R. l., Mop, n. E. and
llectric Weakest.
HEAVY TRADING IN THE LAST HOUR

NEW YORK, Sept. 14.-The stock market
to-day reflected the better feeling engen-
dered by the settlement of the difficulties be.
tween the Reading and its employees and
the sharp and general upward movement in
the list sufficiently demonstrated the char
acter of the greater portion of the selling
of the last few days. There was halt also
in the decline in Western Union, accom-
panied by some recovery in its price, and
while the stock failed to properly respond to
the announcement of the increase in the
capital, the buying was good and its net
gain of moment The bears, however,
while submitting to the setback which they
affect TO believe is only temporary, did not
change their ground in the least, still laying
stress upon the prospects OF dearer money
with a continuation of gold shipments and
the other urfavorable factors in the situa-
tion. That they did not lack the courage Of
their convictions was shown by sharp
drive at Northern Pacific preferred and the
per cent bonds which depressed the stock
nearly per cent.
The general list was still narrow and in
the main featureless, though displaying a
firm temper almost throughout the day,
which was aided in some degree by the
strength shown in the industrials, among
which Distillers was conspicuous by large
business and rise of nearly per cent.
The grangers still presented a stubborn
front to the pressure brought to bear, but
there was less animation in them, and as
rule small fluctuations.
The Improvement in the morning was led
by Reading and the opening in that stock
was marked by heavy trading and some
> l, :
55lg on different sides of the crowd. The
animation soon subsidized, however and the
stock made but little further progress,
though the list after the opening advances,
which extended to l per cent, made further
slight gains when the upward movement
was checked and no further advance was
made curing the day except slight fractions
here and there and sharp rise in Distillers
which reached nearly per cent.
The drive at Northern Pacific preferred
weakened the rest of the list to some eX-
tent, but there was no concession OF note
until the last hour, when it became known
that the cholera had at last actually OBJ
tanned foothod in the city, and there was
IA mad rush to get out of everything. Prices
broke badly under the pressure while the
market became extremely active, the trans
actions in tie last As minutes exceeding
those OF any other hour of the day. There
was evidence ofan effort to cover, and some
stocks did rally slightly, but as a rule the
last prices of the day were the lowest, and
the market closed active, feverish and eN-
cited at the decline.
1he final changes were generally small
losses. but Northern Pacific, preferred, is
down 25s Lead l3s Sugar "a and Rock
Island, Missouri Pacific New England and
Electric eacn per cent.
Railroad bonds were stimulated by the
animation in stocks somewhat, but there
still little animation or feature of note
in the market, and ION sales OF 81, 21l 600 the
changes are as insignificant as usual. Texas
Pacific seconds displayed some strength,
but the Northern Pacific 5s were weak in
connection with the drive at the stock and
1eil away per cent.