Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-30
STOCKS SQUEEZED.
Reported Rate Cutting and News of Frost
and Damage to the Crops Utilized by
the Bears-Everything Closes

NEW YORK, May 29.-The heavy advance in
the stock market met with check to-day, and
while the business done was materially smaller
than that of the past few days, the list at the
close was invariably lower and the losses in
some of the late favoriles were quite marked.
The recent rumors that Mr.. Armour had closed
out his deal in St. Paul and the heavy realiza-
tions during the past few days were
supplemented by change in the
tenor Of the dispatches from Chicago, and rate
cutting was once more the burden of the news
with frost and damage to the crops to fill out
with. In addition to these influences to-mor.
row being holiday, there was plenty of closing
out of outstanding accounts, and many brokers
intending to leave the city until Monday,
the sales for the long account aggregated a
respectable amount. There were selling orders
for other outside centers, however, and London
contributed to the depression, though Boston
was still bullish and bought some Of its favor
ites
The Chicago specialties, however, were the
leaders in the decline and furnish almost all
the important losses sustained for the day,
while the Vanderbits were the firmest group,
and a squirt in Western Union during the morn
ing hours enabled that stock to score the only
advance among the active shares. The failure
of the directors of the Cotton Oil Trust to come
! to any conclusion in the matter Of dividend
depressed that stock to-day, and the other
trust shares were weak in sympathy. A few of
the lighter shares were especially strong and
Chicago and Atlantic and East Tennessee we're
very noticeable. The movements in the ma
jority of the general list, however, were con-
fined to the smallest limits and the fluctuations
seemed possessed of little or no significance,
but the general weak tone of the market car
ried them down.
The market opened with much smaller vol
ume of business, and the first sales were made
at small declines from the closing figures of
last evening, and Cotton Oil dropped IL per
cent, followed by the stocks in the regular list
showed marked strength toward noon, but it
had no stimulating effect upon the rest and
Canada Southern followed with the same re-
suit The market became more quiet in the
afternoon, but toward P. NJ. the downward
movement gathered more force and the lowest
prices were generally reached about that time
There was slight rally in the last hour, and
the market finally closed heavy to weak at
listed department the Trust stocks were still
leaders. although somewhat less active than
usual Of late, and among the second division
Brunswick was leader as usual, and closed
rather higher after selling at "a EVERYTHING
is lower Rock Island lost N Atchison. Mis-
souri, Pacific and st. Paul each IL, and North
western per cent.
Railroad bonds were again active, and the
sales Of all issues aggregated 81 aSl 900. of
which Rock Island 6s contributed Sly7OO0 At
lantic and Pacific incomes fl35OOO ard Denver
Receipts SlOeOOO. The tone Of the market,
many declines were scored, though the major.
ity of the changes were In the direction of high
figures. The principal gains were Keokuk and
Denver 6s ~, to 1l5; Vandalia and Terre Haute
frsts 31<, to 1lyH, and Shenandoah Valley firsts
receipts 2 to % The weak spot in the list was
Hooking Valley issues, and the IS dropped 4 to
The following table shows the prices OF active
stocks on the New York Stock Exchange.