Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-18
DISCOURAGING NEWS.
Rumored Break In the Interests Railway
Association Causes Slump In the
Granger Stoclks-Pnrt of the
Early T,Osses Recovered
Early Losses Recovered.

NEW York, June 1.-THE stock market was
fairly active to-day. with still greater proper
tion of business done in the regular list than
has been seen for months, the trusts, with
the exception of National Lead, being quiet to
dull without feature The heavy withdrawal
of gold for export to Europe on Saturday was
supplemented by the news late in the day of
the withdrawal of the Chicago and Alton from
the Interstate Railway Association, and this
morning we were treated to the information
that the action would in all probability disrupt
the association, and other news of discourag-
ing tenor.
As consequence the Granger stocks were
made the subjects of great pressure to sell, es-
pecially from the smaller class of traders, and
before the end of the first half hours business
the declines, especially in Rock Island and st.
Paul, were extended to nearly 2 per cent The
effect upon the general list was yery marked.
and every stock traded in opened off fraction
ally, though outside of the Grangers only Mis-
souri, Pacific showed any marked decline The
clidues supported their favorites while London
was buyer to limited extent, and commits
sion people were purchasing cautiously. Chica-
go sold the Grangers freely on the situation,
and the stocks of that group dropped mate
rally. After the first hour, however, there
was check to the decline in the general list
and the excitement died out and the market re-
lapsed into dullness except for the few leading
shares.
The signing of the bill giving the New En-
gland terminal facilities in New York started
that stock up rapidly, followed by st. Paul.
though the improvement in the last named was
smaller soon came to an end. Later however
Atchison Joined in the upward movement and
toward delivery hour there was sudden squirt
in the coalers which infused strength in the en-
tire list. Jersey Central and Delaware and
Hudson were most conspicuous for strength,
but Reading was not far behind. and the trad
ing in the last named stocks became very
heavy. The market finally closed quiet but de-
cidedly strong at the best prices of the day for
almost everything except the Grangers. The
final changes are somewhat irregular, but the
advances are most numerous, and while St.
Paul and Rock Island each closed IL per cent
lower than on Saturday New England and
Jersey Central are each up ~ and Delaware
and Hudson per cent.
Railroad bonds showed no change in their
temper from that of the past week, and the
market was fairly active, with firm tone
which, however. permitted considerable irreg-
ularity in the movements which occurred. The
total sales for the day were ST. 651, ,0OO of which
only the Kansas and Texas general IS showed
any special animation, furnishing S22S, 600 ST.
Paul, Hamilton and Dayton rs rose 2 to 129;
Kentucky Central As to S615; Minneapolis and
st. Louis lists s, to LOO.
The following table shows the prices of active
stocks on the New, York Stock Exchange.
Corrected daily for THE DISPATCH by Whit
ney q Stephenson, members of New York
Stock EXCHANGE 81 Fourth ayenue.