Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-13
COALERS SINNER DOWN.
THEY MOVE IRREGULARLY BUT
SCORE HEAVY LOSSES.

Chicago Gas Checks the Decline-Jersey
Loss for That stocks-Bears Predict
Gold Shipments in the Near Future.
NEW YORK, Feb. 12-At tho Stock Ex-
change this WAS ar other exceptionally
heavy day, although there was no compari-
son, either as to the amount of business
done or the excitement attendant on the
trading. The elimination of the deal was
followed by large realizations by the fol-
lowers of the syndicate, and there WAS con-
siderable pressure on the Coal stocks from
bear sources, the advocates of lower figures
being specially anxious to retrieve their
losses by the recent rise, and rumors were
circulated to this end that legal proceedings
would be taken to prevent the consumma-
tion of the arrangements made by the coal
companies. The rumors, however, had no
special effect, the impression being that
such proceedings If brought at all, would be
merely for speculative purposes, and the de-
clines effected in the stocks of those roads
to-day were entirely the effect of the selling
to realize by speculative buyers.
The Coal shares were still the most promi-
nent in the market, and their position was
not so overshadowing as yesterday. Other
stocks than those which are supposed to be
traded in at times. London was a large
seller of St. Paul and some others, but
bought little Erie. Chicago bought Chicago
Gas, but let it or in the late trading with
the rest of the list. The Richmond and West
Point stocks were very prominent on the
rumors that the report of the Reorganiza-
would be very favorable. The bears made
considerable capital out of the position of
foreign exchange market, pointing out that
demand bills are now dangerously near the
gold exporting point and still tending up-
ward.
The transactions in Reading were, of
course, most striking, and the trading in the
last hour was equal to anything seen yester-
day after the first hour, while It fell rapidly
over per cent. The early dealings in all
the Coalers we're marked by great irregu.
cent and Lackawanna 4, the Improvement
was more than wiped out during the day.
sharp rally in Jersey Central in the last few
minutes saved it from scoring a material
loss for the day. New England followed the
leader very closely, but other stocks were
traded in within narrow limits, except Iowa
Central preferred, which was the strong
point Of the day, rising per cent to So, and
Closing only II per cent below it's best figure.
In the early dealings, after strong open
ing, Reading fell away rapidly, while Jersey
and Lackawanna advanced; the general list
also showing great irregularity of move
ment without scoring any material changes.
Jersey Central afterward gave way, but the
strength in Chicago Gas prevented any
in the day Reading again dropped suddenly
and everything followed the transa actions
at the time being extremely heavy. The
market, under this influence. closed active
and weak, Notwithstanding the rally in
few shares III the last few minutes. The
losses of note comprise only Reading, ~;
New England, 211; Delaware and Hudson 2,
and Cordage, IL.
Total sales Of stocks to-day were S76e4l
shares, including: Atchison, 13, $780, Chicago
Gas. 4O.S30: Delaware Lackawanna and
Western, 60, ,420;. Delaware and Hudson, 30l0:
Erie, $500; Louisville and Nashville, 80 255;
Northwe estern, 4,llo; North American, $3.50;
New Jersey Ceptral. 5000 Northern Pacific
ing, 236, 6,7lO; Richmond Terminal, 47,76O; st.
Paul 3I3lO; Union Pacific, l0.s20.
Again there WAS little in the railroad bond
market except the Reading issues; and they
furnished s3,3s0,00o out of a total of S4,-
927, ,OO0; the proportion being even greater
than yesterday, when over s6, ,000, 900 we're
traded in. The bonds naturally followed
the course of the stock. market. and Al are