Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-17
COALERs AT THE FORMER LEVEL,
GIVING BEARS A CHANCE.

Shares Very Slowly and Gradually Depre-
ciate-DistiIlers, Which Was the Only
Weak Point, Now Alone In Its Strength
Chicago G rs Raided-Cordage Up.
NEW YORK, Feb. 16.-The stock market to-
day became more regular and the subsistence
Of ordinary activity in the Coal stocks
leaves the field open to the others to come
to the front: but, as yet, the trading remains
almost entirely in a few of the leaders.
There were purchases this morning, appar-
emily for foreign account, and the traders
were in a more bullish frame of mind than
for some time in consequence of these pur-
chases; but while first prices were all ma
terially higher, it soon became evident that
free realiZations were the rule, and the pro-
fessional element soon changed front.
The few stocks which displayed strength
in the early dealings, including Atchison
and st. Paul, met pressure OF stocks for
sale that forced them off with the rest of the
list,and the entire day saw a slow but steady
depreciation in values, which, while making
few wide fluctuations, gave the whole list
weak temper, and losses are very uniform
this evening. Distillers', as 1t has been very
weak in the face'of the strong market for
the last week, changed from to-day and be-
came the one strong point in the list tor no
apparent reason. and its rise is attributed to
manipulation pure and simple.
The bears raided Chicago Gas down in the
afternoon, when the rest of the market gave
INDICATIONS OF nalClnS In the DOWNWARD
movement, and the weakness induced
spread to the general list in the last half
hour, with the effect of producing further
hquidations, and the lowest prices of the
day were reached toward the close of busi-
ness. No impression was made ON the other
1ndustrals, however, and Cordage, despite
the reports of new competition, advanced
materially, keeping pace with Distillers'
The Richmond and West Point stocks
were the weak features of the forenoon, the
reports OF the provisions of the reorSaniza-
tion plans being regarded as unfavorable to
the stock; and while the bonds were strong
dropping 1tS and the preferred 3, a portion
of which was afterward recovered.
St. Paul ana Union Pacific were paid
special attention to, the latter being sub
jected to heavy bear pressure, and it scored
one of the most important declines of the
day. The pressure was removed in the last
few minutes, when prices rallied, and while
the tone of the dealings at the close WAS
firm prices were at the lowest of the day.
The big losses are New Jersey Central, 23s;
Chicago Gas. %; Reading and Union Pa
ferred per cent, while Distillers is up 1%.
The total sales OF stock to-day were 4S7, l57
shares, including AtchisoD, $500: Canada
Southern, 8, 100; Chicago Gas, A,000 Della
ware, Lackawanna and Western, $3.50;
Delaware and Hudson, 8, 100: Erie, Is, 160.
Railroad bonds we're active. Reading de-
clined somewhat and many others felt the
influence, so that prices tins evening show
stocks on the New York Stock Exchange yesterday.
Corrected daily for THE DISPATCH by WHITNEY &
STEPHENSON, oldest Pitlsburg members of the
New York Stock Exchange, 81 Fourth avenue: