Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-09
SURPRISING RUMORS
Circulated on Wall Street Exert Bearish
Influence on Stocks, but No Serious
Losses Are Incurred-Rail-
road Bonds Without

Material Change.
NEW YORK, March S.-The dullnass in the
stock market was more marked to-day than at
any time in the present year, and the fiuctVa-
tions were strictly on a par with the business
done, the final results of the days transactions
being entirely Insignificant, except in few
isolated cases. The general temper of opera
tors was bullish, and in response to this feeling
there was some improvement made in quota
tions until the prevailing dullness encouraged
attacks upon few stocks, and so turned the
course of the limited fluctuations. OF the news
of the day that was favorable, the most influen-
tial were the declaration of the dividend upon
Missouri Pacific of per cent, the advices from
Washington of the good progress made at the
conference of the Interstate Commission and
the State railroad officials, with the assertion
that the acceptance of the position offered him
by the railroads by Mr.. Walker was almost a
certainty. and tho news from Paris that the
Bank of France had come to the aid of the cop
per syndicate.
There was the usual batch of reports from
Chicago in regard to the cutting of rates in the
Northwest, but no other news of character to
affect prices unfavorably was received. In the
early morning st. Paul was a marked feature,
both for its animation and the rise in its price
against the undoubted selling of a large block
by London, and the behavior of the stock gave
rise to considerable comment and the assertion
that there is a powerful pool operating in it,
gained more believers. Mr.. Armour was said
to be member of the pool, while some parties
thought that the support given to the stock
came from the BANKERS. Tennessee Coal was
also strong feature at this time of the day,
and reached higher figures than ever. Cleve-
land, Columbus, Cincinnati and Indianapolis
became specially strong, though being very
dull attracted little attention. Manhattan con-
tinued its reaction from the high prices of last
week and the other Gould stocks suffered
1,aAS
brought upon the list. The Coal stocks were
the special point of attack, and Lackawanna
and Reading in the afternoon yielded fraction
ally. The latter stock was especially hard
pressed, but while it was forced down below 46
for the first time in many weeks the result of
the raid was loss of less than point. a
The dullness was the principal feature at the
opening and most stocks were but slightly
changed from last evenings figures, Missouri
Pacific being the only exception, with gain of
u per cent. Tennessee Coal was the strong
feature, although st; Paul was very active and
slowly advanced, and these two stocks monopo-
lized the market during the forenoon, when
the bears got to work toward noon. Manhattan
was the first to give way and Tennessee Coal
followed, losing large portion of the early
gain, but the pressure was transferred to the
Coalers, and Lackawanna and Reading be-
came the leaders, both in activity and weak
ness. The extreme decline outside of Manhat-
tan, however, was only l per cent. in Rock
island, and the effort was given up toward de-
livery hour, when the market settled down to
dullneSS and Stagnatlon, ana nnally closed dull
and steady at but slight changes in most of the
list
efhe dullness extended to the dealings in rail-
road bonds and while as in shares there were a
large number of issues traded in, the aggregate
amount of business done was small, and no
special animation was shown in any one ISSUE
The sales reached 81. .3l7,OO0 There was consid-
cradle irregularity in the market. but firm
tone prevailed in most parts of the list, and
while the final changes in but few cases are for
more than fractional amounts, advances are
most numerous. The most conspicuous up
ward movements were Syracuse, Binghamton
and New York firsts 4, to l39; Green Bay firsts
z to SO: Illinois Central registered 316's ~, to
921&: Mahoning Coal firsts 2, to LII; chattanooga
seconds 2. to 113, and Utah Southern Extension
rs ~, to los.
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: