Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-21
READING A DISTURBER,
But THE BEARISH ELEMENT Is MORE
PROFESSIONAL.

A Better Feeling in Stocks Later In tho
Day, and All Score Small Advances
The vanderbilts to the Rescue-New
England's Big Gain.
NEW YORK, April 2o.-The market for
securities was again disturbed to-day by the
heavy selling pressure upon Reading, but it
seemed to be more by the professional ele-
ment than during the last few days: and
while the concessions established were large,
the movement partook too much of a specu-
lative nature to permit Of its long continu-
ance. The liquidation of long accounts TOR
foreign account, which was so marked a
feature yesterday, was lacking this morn
ing, and the temper of the general list was
firIner, though It was unable to resist the
influence Of the raid upon the leading active
stock. 1'
, A gratifying change in the temper of New
England, accompanied by rise of l13 per
cent in its price, was partially Offset by
setback for Western Union; Dut the decline
in the last named stock reached large frac-
tion only and, as usual, the elimination of
the raid was followed by duliness. London
was a seller to a moderate extent of Erie
and st. Paul, and both of those stocks
yielded fractional1y during the forenoon,
but later subsided into dullness unusual for
them. The course of those stocks, however.
fully represented the feeling in the street
upon the probabilities in the rest of the list
The selling of Reading by Philadelphia
houses was very heavy, but with the re-
moval of the pressure and the comprehen-
sion by the local operators that the pressure
was not to be Immediately renewed. there
was a rush to cover shorts and n full re-
covery occurred, even in the weakest of the
list. New England at its highest point
showed gain over per cent from its first
price.
The covering movement, in its turn, sub
sided, and dullness was again the order of
the day. One of the most encouraging
signs in the local trading was the strength
of the Vanderbilt stocks, Lake Shore and
ho
strength, while the squirt in New England
did much to restore confidence upon the
cessation of the selling pressure. Among
the specialties there were no movements of
Importance, and the final changes among
them are insignificant in all cases.
The market closed fairly active but steady
to firm, Notwithstanding tho sales to realize
by the purchasers of the forenoon, which
The list is generally slightly higher than
last evening, but with the single exception
of New England, which is up 21 per cent,
the gains are for fractional amounts only,
and Lake Erie preferred is up q.
Railroad bonds were quieter than yester
day. and there were fewer pronounced
movements. While the Reading issues were
all very active, and the thirds contributed
$3as 900 to tho total of 81, ,72 900. none of them
showed any material change. The Rich
mond and West Point issues were very
quiet. Prices were generally firm and q
shade better this evening.
TIE total sales of stocks to-day were
,4S shares. including Atchison, 9,705;
and Western, s5s5; Erie. 24,e7l; Lake Shore,
H. 40; Louisville aud Nashville, $500; Mis-
souri, Pacific. 4, 120 Northern Pacific. pre-
ferred, 1928; New England. Al, 1874; Reading,
90 720; st. Paul, 12,250; Western Union, Is, 5S5.
,rhe following table shows the price of active
tocks on the New York FORK Stock % Exchanse yesterday:
New York Stock Exchange, 81 Fourth avenue.