Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-09
A WET BLANKET
Thrown Over Wall Street, Which Demornl-
izes the stock Market-Everything
Loses Ground-Atchison n Feature
Railroad Rnnda Firm.


NEW YORK, April S.-There was another
marked and sudden change in the temper of
the stock market to-day, and it was active and
decidedly weak throughout, there being only
one strong spot in the list. Everything tonight
is materially lower than at the close on Satur-
day. The influence of the bank statement was
felt in full this morning. for the low state of
the resources of the banks not only called a
halt IN the foreign buying, which was becoming
somewhat of factor last week, but it encour-
aged further attacks by the bearish element
and induced realizing by the short-waisted
bulls upon the rise of last week. There was a
notable absence of support, especially in the
stocks which so lately have been the leaders of
the upward movements.
Atchison was again the great feature of the
day, and, while commanding premium for use
which reached a per cent per diem, was sold
reeklessly by the bears in the general belief
that after Tuesday there will be heavy blocks
of the stock bought for the purposes of con-
troll. The report of the earnings for February
also went some way in encouraging the press
ure, as there was deficiency in meeting fixed
charges. Similar reports about Missouri Pacific
were circulated, and that stock was good sec
ond, with New England and Northwestern fol-
lowing. The other Grangers were not forgotten,
and only St. Paul out of the entire list showed
any support whatever, and it is exceptional in
showing small advance at the close this
evening.
The opening figures were great disappoint-
ment to those who had regarded the furry at
the close on Saturday as a temporary setback,
as first prices were from Is to q per cent lower
than the final figures of Saturday Missouri
Pacific took the lead in the early decline. while
the amount of business done was only moder-
ate and although there was some recovery to-
ward IL o'clock it was entirely insignificant as
were all the rest of the rallies during the day.
Atchison then became the leader, and was
Joined by New England, and before noon the
movement had become very marked Cotton
Oil became prominent after noon but the de.
cline was steadily maintained throughout,
though the strength In st. Paul became very
noticeable at this time.
Toward delivery hour the pressure was re-
moved and the market subsided into dullness,
but there was another attack upon Atchison in
the last hour, when the greater portion of its
loss for the day was sustained. The market
closed fairly active and weak, although a slight
rally occurred. Most of the list however was
1t or near the lowest figures for the day.
Atchison is down per cent, New England ~,
Missouri Pacific and Colorado Coal 1sS, Rock
Island Jersey Central Big Four, and Union
Pacific n each, and Burlington III.
Railroad bonds were quiet although the deal
ing extended to an unusually large number of
issues, and the sales of all issues aggregated
81, ,l64,000, out of which Short Line SIS fur
nished Sl26, 900 and Chesapeake and Ohio SIS
SlO4, ,00O. The list did not sympathze with the
decline in shares, but remained firm without a
special feature. san Francisco, Glass A, rose
2, to 40.
The following table shows the prices Of active
stocks on the New York Stock Exchange.
Corrected daily for The DISPATCH by Whit
ney & Stephenson, members of New York
Stock Exchange, 81 Fourth avenue: