Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-16
DEPRESSING INFLUENCES
Cause n Slump in Siocks-The Declines
Heavy and Uniform Everything
Lower at the CIose-RaiIroad
ROuda 0uief.

NEW YORK, March 15.-The stock market
was weaker than it has been for some time
to-day, but the amount of business done will
compare favorably with any previous day this
year. All the influences at work upon the
market seemed to be of a depressing nature,
though the engagement of over 81, ,000, 900 for
export was PROBABLY the most important.
There was an uneasy feeling reported at Paris,
and this was reflected in the London market
and American securities on the other side were
all lower with considerable selling to liquidate.
The ultimate destination of the gold is un-
known, but the low state of the surplus reserve
at present gave rise to apprehensions of the
future scarcity of money, especially If the out
go of gold should be continued
The squeeze in st. Paul did not seem to have
any further effect upon the general list, and
although the stock loaned at I-16 per day for
use, there was plenty of stock for sale, and
after opening down nearly point it sagged off
and tonight is materially lower. The pressure
to-day reached all portions of the list, and out
side of the Grangers there was more selling
than at any previous time this year, and the
declines on nifo an nnusua nd tS large business are
dealt in was remarkable. There was renewal
of the reports of rate cutting in the West and
the alleged accusation of Judge Cooley that the
trunk lines were shading Cd their export rates
was used with much effect against the general
list.
All the Grangers were weak, but Rock Island
and burlington anu quincy TeaC0eQ lower
figures than have heretofore been attained, and
a raid was made upon Missouri Pacific in the
afternoon which made it one Of the weakest
stocks on the list. The other Gould shares
sympathized and Manhattan especially yielded
very readily. Pullman led the specia1tfes, and
of those shares Memphis and Charleston was
the only one showing any strength, and that
has not been traded in for long time. San
francisco preferred became the feature Just
before the close and dropped rapidly.
The lowest prices were generally reached
after l P. M, but the rally from the lowest
points was insignifcanL and the market finally
closed fairly active and heavy to weak at or
near the lowest figures of the day, Everything
without exception is lower. Pullman lost 3;
Manhattan 81, ex-dividend of one II per cent
scrip; Rock Island, ~; Missouri Pacific and
Tennessee Coal, l5A; Burlington and Quincy
and ST Paul, 1sk: Atchison, "; New England,
IL; Pacific Mail, per cent, and some of the
specialties larger amounts.
Railroad bonds were quiet and in some por-
tions of the list sympathized with the depres-
sion inehares, giving an unsettled tone to the
market. Some marked movements were made,
while most issues were dull and almost un-
changed. The weakness In the Kansas and
Texas issues was feature but beyond. that
the trading calls for little comment. The sales
reached only s1.124000. The declines include
and Ohio and Mississippi seconds 2L, at ll7N.
The advances were Beech Creek frsts ~, to
9lH.
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.