Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-06
RAMPANT BULLS CHECKED.
A VERY CONFIDENT FEELING EARLY
ON WALL STREET.

Buying Orders From London-Traders
Rush to Cover-The Veto of fhe Read
ing Bill in New Jersey Has a Bad
Effect-Bonds Lively.
NEW YORK, April 6.-The stock market to-
day started off with a rush for higher prices,
but the force was insufficient to surmount
the restraining elements and the advance
was effectually checked for the time being.
There was a more confident bullish feeling
in the street than has been seen for some
time this morning, and the encouraging ad-
vices from abroad were supplemented by
the buying orders from London and the con-
tinent, and the traders were forced to cover
literally in the early dealings. The advance,
from the bear element, and the early trad
ing was not only extremely active but fever
ish, with some declines from the opening
prices.
for the London account, stimulated by the
encouraging outlook, again forced prices
upward, though no rapid rise was seen:
The news of the refusal of the Governor Of
New Jersey to sign the bill legalizing the
Reading combination, however, effectually
put a stop to the new buying, though, as
usual of late, there was shown no disposi-
ton to part with stocks acquired, but only
halt in the buying movement. The Coal
stocks were apparently little affected by the
news, though both Jersey Central and Della
this was to be expected after their late ma.
terial advances.
Reading, while remaining very active,
was we'll supported around So, and Lacka-
wanna showed no movement whatever.
Liquidation in New England was started,
and Richmond and West Point was sold
heavily, the common stock, for the first
time since the November panic, selling
below 10. The preferred stock dropped 8
per cent to 53, and the bonds were CORE
spondingly depressed. The effect of these
49, 49, Iyak1 1,.O
ever, were comparatively slight. and while
the upward movement was checked no seri-
Gus decline was seen outside of the few
stocks mentioned; and while the early ad-
vances were In most cases wiped out, the
gains at the opening were retained until
very late in the day, when some con cessions
were made, owing to the steady and persist.
ent pressure of the leaders. New England
especially displayed the most pronounced
weakness, in which the whole list sympa-
thized for the time being. The character of
the trading & in the rest ,+ O.. the the list may be
only Il and St. Paul only II per cent for the
dav.
The market finally closed fairly active and
rather heavy at close to the opening prices,
despite slight rally in the final dealings
The list is generally slightly changed from
last nights figures, but Richmond and West
onIV 1I1 3: prS New Engiand' % sI and % sugar, @ % TX
The total sales of stocks to-day were 36l,-
$50 shares, including Atchison, 10 2OC; Della.
ware, LackaWanna ana w eSGern, S,5SO; Dela-
ware and Hudson, 2,750; Erie, Il, ,375 Hook !
ing Valley. 1857; Louisville and Nashville, |
$500; Missouri Pacific $3.50; Northern Pacific. |
preferredd, l4O; New England, Al ,723 Read
Ing 81. $780, Richmond and West Point Is, ,367; |
St. Paul, 90. .020; Union Pacific, 9,071. |
Railway bonds were trifle more animated |
to-day and the dealings showed more |
breadth, while a firm temper marked the |
business throughout the day. The final !
changes. however, are of the usual insignf1- !
cant order, though Richmond and West |
Point 5s are down ~ at 55N. the Is not being
traded in. Other changes were slight.
The following table shows the prices of active |
stocks on The New ork Stock Exchange yesterday.
Corrected daily for THE DISPATCH by WHITNEY 4
oldest Pittsburg members of the |
New York Stock Exchange, 81 Fourth avenue.